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Daytrading/scalping with high leverage - my proven strategy

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  • #7,901
  • Edited 7:27am Jun 1, 2015 6:26am | Edited 7:27am
Setup 7

TMA beyond cloud setup.

Attached Image (click to enlarge)
Click to Enlarge Name: Setup 7-.jpg Size: 506 KB


Price seems stuck at the H4 centre line.
Haiken Ashi and TDI do not show a clear upward trend.

We need to see a good bounce away from the centre line.

Invalid

I did not take this trade.
  • #7,902
  • Jun 1, 2015 6:30am Jun 1, 2015 6:30am
Setup 8

TMA beyond cloud pattern.

Attached Image (click to enlarge)
Click to Enlarge Name: Setup 8-.jpg Size: 615 KB


Big picture does not confirm the trade.

Invalid.

I did not take this trade.
  • #7,903
  • Edited 7:28am Jun 1, 2015 6:34am | Edited 7:28am
Setup 9

TMA beyond cloud pattern

Attached Image (click to enlarge)
Click to Enlarge Name: Setup 9-.jpg Size: 274 KB


Again, although H4 chart confirms our direction, but H1 big picture does not confirm short entries (Haiken Ashi, TDI).

Invalid.

I did not take this trade.
  • #7,904
  • Jun 1, 2015 6:52am Jun 1, 2015 6:52am
Setups 10 and 11

EurJpy and AudUsd both showed TMA beyond cloud pattern.

Attached Image (click to enlarge)
Click to Enlarge Name: Setup 10 and 11.jpg Size: 515 KB

Analysis of EurJpy:
Attached Image (click to enlarge)
Click to Enlarge Name: Setup 10-.jpg Size: 318 KB


Entry before the large candle (when Babon gave sell signal) seems valid.
After the large candle, entries are not valid. We would need to wait for a better entry.

For AUDUSD, the Babon sell signal (in the middle of the chart) followed by a breakout seemed a valid entry.

I did not take these trades as I was away from the PC.

By the time I saw these, the AUDUSD was in exhaustion (TMA going horizontal), and EurJpy had moved down much more (too late).

Valid setups.
  • #7,905
  • Jun 1, 2015 7:24am Jun 1, 2015 7:24am
Hi Kenlionheart
realy liked your setup how do you get your screen shots all together like that
this morning i took a loss on the system because didn't followe the rule of h1
I just became a member and will also post my trades here
want to tanks dna&favorite for this nice system im not good at it yet and greed make me loose if i go for 5 pips each trade then i will have a 90% succcses rate but greeeeed and like to do it like the good traders 10+ pips and then the price tuns on me
greetings
  • #7,906
  • Jun 1, 2015 7:49am Jun 1, 2015 7:49am
Quoting kenlionheart
Thanks Machinator. Indeed a good idea from you. Thank you! I have started by making a checklist - as brief as possible - so that I can use it to make sure all the rules are being followed: {image}{image} PLEASE NOTE: This is MY interpretation of Favorite's Babon rules. DO NOT rely on my checklist without reading and understanding Favorite's summary, because 1: I may be mistaken, 2: my wording may misguide you. This is just for me trying to learn. The green boxes need to be ticked for a trade to be valid. It is better if some of the light blue boxes...
Hey Ken ,not just good but perfect!! Believe me I am amazed!! Good job!!!
Dear friend,please,keep it up!!

Rgs.,
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,907
  • Edited 10:56am Jun 1, 2015 8:34am | Edited 10:56am
Quoting kwinwls
Hi Kenlionheart realy liked your setup how do you get your screen shots all together like that this morning i took a loss on the system because didn't followe the rule of h1 I just became a member and will also post my trades here want to tanks dna&favorite for this nice system im not good at it yet and greed make me loose if i go for 5 pips each trade then i will have a 90% succcses rate but greeeeed and like to do it like the good traders 10+ pips and then the price tuns on me greetings
Thank you and welcome to the forum.
This is actually Machinators profile. He was very kind to share it.
It's actually one MT4 screen with all the charts on it (needs a big screen though).

As for the losing trade, I think losses are inevitable. We cannot win 100% of our trades.
But if we lose because of not following the rules, then we should learn from our mistakes - and NEVER repeat the same mistakes again.

I am also new to Babon and I'm just trying to learn it well. It's an extremely clever and successful system that has combined many years of trading experience of a great successful trader: Favorite. He was kind enough to share it with us, and thankfully, we have experienced Babon traders such as Machinator who are prepared to help! We have to be good students, be patient and learn well!

I'm new to Babon, so I will only want to take set ups that I'm very confident with. If I'm in doubt, I stay out. There is absolutely no need to take risks by breaking the rules, or take set-ups I'm not sure about.
In short, this is what I'm trying to do:

Stan Weinstein: Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey it will wait for a baby antelope, and not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey does it attack. That, to me is the epitome of trading.

Good luck.
  • #7,908
  • Jun 1, 2015 8:36am Jun 1, 2015 8:36am
Quoting Machinator
{quote} Hey Ken ,not just good but perfect!! Believe me I am amazed!! Good job!!! Dear friend,please,keep it up!! Rgs.,
Thank you David. Thanks very encouraging.

But hey, I'm learning from the best. And btw... you are faaar better than Google
  • #7,909
  • Jun 1, 2015 8:43am Jun 1, 2015 8:43am
Quoting interesting1
Hello everyone. I new to the thread, and I was attracted to this thread by the use of the words "Scalping with high leverage". My only question is, using the method that everyone is following, what is the avg Drawdown in Pips of the entries given?
You should read this whole thread - its well worth the read. (I believe I have read the whole thing twice).

This thread started with a brilliant "think outside the box" Money management idea - without a trading system. And lets be clear: it's not suitable for everyone.

Later, the traders decided the MM idea is good, but needs a good system with it to become really powerful.

One of the best trading systems which were shares on this thread was by Favorite, which is what I'm trying to learn.

For this system, I'm not sure what's the average drawdown for every trade... but if we see price going against us, we get out with a small SL (7 points) or a small profit. The maximum emergency SL is 15 points.

I hope that helps.
  • #7,910
  • Jun 1, 2015 8:44am Jun 1, 2015 8:44am
Quoting Machinator
{quote} Hi Michael! I just can hope that nothing serious happened (because it is not in his manner to go into underground at all) and one day he will come back with all his positiveness. Windy weekend and trading to u ! Best regards, David
Hello David!

Maybe he needs some repose Trading and leadering in some forums must be hard to do all the time. I'm sure everything is all right, and he will be back in some time! Meanwhile, let's focus on improving and mastering OUR trading!
Thank you and wish you amazing trading too!

Quoting tomiko
{quote} hi there michael! thanks, i'm still trying to keep up with u guys here.. i had a feeling this system gonna be a huge step on my journey. can't wait to explore more!! good luck and take care!
Hi tomiko!

And i wish you that all! Let the babon be also YOUR system and let the ball rolling, as Favorite said in his summary: "It works good for me and it will work good for you too!" if you follow the rules

Quoting kenlionheart
Thanks Machinator. Indeed a good idea from you. Thank you! I have started by making a checklist - as brief as possible - so that I can use it to make sure all the rules are being followed: {image}{image} PLEASE NOTE: This is MY interpretation of Favorite's Babon rules. DO NOT rely on my checklist without reading and understanding Favorite's summary, because 1: I may be mistaken, 2: my wording may misguide you. This is just for me trying to learn. The green boxes need to be ticked for a trade to be valid. It is better if some of the light blue boxes...
Hi kenlionheart

I must say, i do something similar for EVERY system i use - list of shorted rules and all the informations and trading stages. It is very helpful for EVERY system to follow the rules. Of corse - as you said - if you readed the summary before and know all the rules.

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,911
  • Jun 1, 2015 8:52am Jun 1, 2015 8:52am
Quoting kenlionheart
{quote} You should read this whole thread - its well worth the read. (I believe I have read the whole thing twice). This thread started with a brilliant "think outside the box" Money management idea - without a trading system. And lets be clear: it's not suitable for everyone. Later, the traders decided the MM idea is good, but needs a good system with it to become really powerful. One of the best trading systems which were shares on this thread was by Favorite, which is what I'm trying to learn. For this system, I'm not sure what's the average...
Yes it most certainly does. I will be sure to read the entire thread in order to see the accuracy of the system.
My avatar is the perfect reflection of "social trading".
  • #7,912
  • Edited 11:03am Jun 1, 2015 9:06am | Edited 11:03am
Set-up 12 and 13

EURJPY and AUDUSD both showing a nice TMA beyond cloud pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: setup 12 and 13.jpg Size: 591 KB


EURJPY:
This setup is for a buy, which is against the H1 TDI and Haiken Ashi - which are bearish.
However, TDI is close to the 32 line, price has moved beyond the H1 TMA border - which means we are expecting a pull-back.
Also, the entire TMA M1 was under the TMA 15 channel - which means we expect a STRONG pullback.
And most importantly, PA is confirming the expectation, and price is making a very nice pull-back.
We have a good TMA beyond cloud pattern, but the angle of the TMA is becoming horizontal.
If price breaks out with a good TMA angle, this looks like a valid set up.

I did not take this trade, since this is not the usual Babon set up (H1 TDI and Haiken Ashi still bearish), and I'm still learning, I will stay out of this trade.

AUDUSD:
H1 is confirming a short trend. TDI and Haiken Ashi are bearish. We have bounced away from the H4 centre line. (Better if H4 chart was confirming, but it is not).
We have a nice TMA beyond the cloud pattern, and price is bouncing off the TMA border, and Babon is signalling a sell.
The entry looks valid.

I did not take this trade out of caution - because I did not like the recent hourly range, and TP would have to be tight.

Both set ups look good if they breakout with a good TMA angle.
  • #7,913
  • Jun 1, 2015 9:13am Jun 1, 2015 9:13am
Set up 12 and 13 Aftermath:

EURJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: setup 12 and 13 - 1.jpg Size: 188 KB


We did not have a breakout with a good TMA angle (TMA changed direction). So no entry was signalled.
It would have been a losing trade. If we had entered (against the rules), we should have exited for a small loss when: Babon gave a sell signal, or when the TMA angle changed, or at worst, when price went into the cloud.

AUDUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: setup 12 and 13 - 2.jpg Size: 176 KB


The bounce off the TMA upper border together with the Babon signal, or the breakout (indicated) are both valid entries.
Momentum was not great. We should have exited when the TMA angle changed for about +10 points, or at best: at the TMA border for about +15 points. This is why I stayed out in the first place (ranging market).
  • #7,914
  • Jun 1, 2015 9:33am Jun 1, 2015 9:33am
Setup 14
AUDUSD Classic Babon

Attached Image (click to enlarge)
Click to Enlarge Name: setup 14.png Size: 489 KB


Although we are away from the H4 Centre line, this is not a valid setup because:

No Lower High, Lower Low,
No forming Lower High
TMA M5 is going up
Distance to TMA is less than 10 points
Price is above cloud, and did not go below cloud within 4 candles of the Babon signal.
And we had a large 10+ point candle

Invalid
I did not take this trade.
  • #7,915
  • Jun 1, 2015 9:47am Jun 1, 2015 9:47am
setup 15

A nice TMA beyond the cloud pattern:

Attached Image (click to enlarge)
Click to Enlarge Name: setup 15.jpg Size: 557 KB


Good TMA angle and good 1-2-3 breakout.

Valid.

I did not take this trade as I was away, and I think I would have stayed out since H1 price was close to the H4 TMA centre line.
If I had entered, I would take profit at the end of the (circled) candle which crossed the M5 and M15 TMA for +20 points.

Price then made a pull-back as it reached the H4 TMA centre line.

Then the TMA went horizontal, so no re-entry.
  • #7,916
  • Edited 11:08am Jun 1, 2015 10:01am | Edited 11:08am
Setup 16 and 17

EURJPY showing another setup for TMA beyond cloud pattern.
AUDUSD is spiking on news.
Attached Image (click to enlarge)
Click to Enlarge Name: setup 16 adn 17.jpg Size: 459 KB


EURJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: setup 16-.jpg Size: 563 KB


Were at the H4 TMA centre line, although price seems to be breaking it.
We have several large candles (15+ even) which usually cause pullbacks (and distort the TMA angle and the Babon signal).
We have 2 dojis, one of them is very large - which can mean uncertainty and possible pullback.
Also, we are already above the M15 TMA - which is usually our target for the cloud pattern. Too risky.

Invalid.
I did not take this trade.

AUDUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: setup 17-.jpg Size: 547 KB


Almost everything is wrong. Price is spiking due to "red" news.
Invalid.
I did not take this trade.
  • #7,917
  • Jun 1, 2015 10:21am Jun 1, 2015 10:21am
Setup 18 and 19

EURJPY and AUDUSD TMAs are below the cloud.

Attached Image (click to enlarge)
Click to Enlarge Name: setup 18 and 19.jpg Size: 585 KB


EURJPY:
Price is at the H4 centre line, although it appears to be breaking it.
Big Picture does not confirm bearish trend. But we have an engulfing candle on H1.
It could be a valid setup if price breaks the black line. But there's no "confluence" from the big picture.

I did not take this trade.

Comparing this setup with the 2 others I point out on the EURJPY chart... they had support from the big picture to go long, nice bounce off the M5 TMA centre line, good TMA angle, nice Babon signal, or 1-2-3 breakout. Both would have been valid entries. Only problem is, we were at the M15 border, which is usually out TP, so I would have probably stayed away. If I had entered, I have taken profit at the M5 TMA for 12 to 15 points (based on the entry taken).

I missed this trade.

AUDUSD:
TMA angle became very sharp very quickly due to the price spike which was caused by red news (it has repainted in the screenshot)
Price did not give us a good entry. Very sudden move, no pull-back. Too late to enter.
Could have made a quick +10 points on the breakout at 14:00, but too risky.

I did not take this trade.
  • #7,918
  • Edited 11:11am Jun 1, 2015 10:41am | Edited 11:11am
Setup 18 and 19 aftermath:

Attached Image (click to enlarge)
Click to Enlarge Name: setup 18 and 19 -aftermath.jpg Size: 706 KB


Both these trades would have made about 15 points.
The EURJPY breakout entry seems valid, but no support from big picture means we would have to be very careful and take small TPs. No trade for me.

The AUDUSD breakout could have gotten us 10 to 15 points, taking profit as the large candle crossed M5 TMA, or at the M15 TMA at max.

Re-entry was possible when Babon signalled another sell after the pull-back for about +5 points. But then TMA became horizontal, so we would have had to go out with a small Profit/loss or breakeven.

The meat of this entire move was the news spike which we would have missed anyway.
Price quickly ran out of momentum as it approached the M5 and M15 TMAs. TMA M1 became horizontal. On the H1 chart, price hit the H1 border and the green TDI line is close to the 32 line. All of these indicate trend exhaustion, so no re-entries.

Also, we're almost at the end of the European Session.
  • #7,919
  • Edited 11:12am Jun 1, 2015 10:46am | Edited 11:12am
Setup 20

EURJPY TMA beyond cloud pattern:

Attached Image (click to enlarge)
Click to Enlarge Name: setup 20.jpg Size: 373 KB


A nice quick cloud pattern breakout.
We're near the end of the European Session, so taking conservative profits, this would have been +10 points.

I did not take this trade, as it is near the end of the trading hours, and big picture is not very clear in supporting this trade.
Haiklen ashi and TDI are showing exhaustion, and price is close to the H4 centre line.
  • #7,920
  • Jun 1, 2015 11:01am Jun 1, 2015 11:01am
Quoting pretorian1
{quote} Hi kenlionheart I must say, i do something similar for EVERY system i use - list of shorted rules and all the informations and trading stages. It is very helpful for EVERY system to follow the rules. Of corse - as you said - if you readed the summary before and know all the rules. Regards, Michael
Hi Pretorian1.

Thank you. Yes I think it makes sense, especially if I'm learning a new system, or trading multiple systems.

I also think that the "checklist" should be written by the trader themselves, and not use someone else's.
It helps remember the rules, and also, everybody has their own wording when summarising, which may not make sense to others.
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