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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #8,041
  • Jun 16, 2015 7:03pm Jun 16, 2015 7:03pm
Guys I have a problem...

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I had 6 opened trades over the weekend... I had put TPs for these trades.

The market gapped on Sunday open.

For EURJPY it gapped over 50 points below my TP.
For EURUSD it gapped over 30 points below my TP.

These were all sell trades, so the gap was in my favour.

HOWEVER! When I looked at the price my trades were filled... all of them were closed on Sunday open by the broker at the TP levels and NOT the market price!

As far as I know, and from all that I have read and asked, the market is closed on the weekend and no trades take place. And if the market gaps, your TP and SL orders are filled at the next available market price.

So in this case, I should have been filled at the market open, and not on my TP. Am I correct?

Did the broker/liquidity provider just fill my TPs and pocket the extra profit for themselves??
  • #8,042
  • Jun 16, 2015 7:30pm Jun 16, 2015 7:30pm
Quoting kenlionheart
Trade 36 AUDUSD cloud pattern {image} Momentum was not very strong, so I should have gone out at the TMA M1 border, and then re-enter to make double the points. So I got out at +7.5 points, and waited for re-entry, but this time price kept going up without a pull-back for re-entry. Seems I took the same trade as Michael (Pretorian) and also exited early
It seems that i have taken trade on the next Babon's slope signal We thought about the same position - because all Babon's rules are met
Glad you also scored some green pips!

Quoting kenlionheart
Guys I have a problem... {image} {image} I had 6 opened trades over the weekend... I had put TPs for these trades. The market gapped on Sunday open. For EURJPY it gapped over 50 points below my TP. For EURUSD it gapped over 30 points below my TP. These were all sell trades, so the gap was in my favour. HOWEVER! When I looked at the price my trades were filled... all of them were closed on Sunday open by the broker at the TP levels and NOT the market price! As far as I know, and from all that I have read and asked, the market is closed on the weekend...
You have to check whether your broker has a guaranteed TP or SL or not Sometimes broker get on himself the risk of market gaps It depends on your agreement's conditions with your broker

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,043
  • Jun 17, 2015 2:15am Jun 17, 2015 2:15am
Quoting kenlionheart
{quote} Hi there Forest-Sea, I actually watch 8 pairs. This might look crazy, but I have two large monitors, and my MT4 is expanded onto both screens: {image} As you can see, I have the H4, on top of it I have the H1, and on top of it I have the M1. I also have a small Hunter chart so I can quickly tell the situation of the highs/lows etc. There are several reasons why I watch so many pairs: - I can quickly see which pairs are not interesting right now (they are in centre line, or H1 beyond H4, or going sideways etc...) - I can quickly see which...
Very good stuff!!

Quoting kenlionheart
Guys I have a problem... {image} {image} I had 6 opened trades over the weekend... I had put TPs for these trades. The market gapped on Sunday open. For EURJPY it gapped over 50 points below my TP. For EURUSD it gapped over 30 points below my TP. These were all sell trades, so the gap was in my favour. HOWEVER! When I looked at the price my trades were filled... all of them were closed on Sunday open by the broker at the TP levels and NOT the market price! As far as I know, and from all that I have read and asked, the market is closed on the weekend...
))For sure if price went not in you favor,100/1 broker would close your orders with negative slippage. Tell the truth If I would be a broker I would make exactly the same
Just don't waste your time and nerves.Very good and my congrats that you fixed the profit,just forget and go ahead .

Success is nothing more than a few simple disciplines, practiced every day.
  • #8,044
  • Jun 17, 2015 2:35am Jun 17, 2015 2:35am
Quoting Machinator
{quote} Very good stuff!! {quote} ))For sure if price went not in you favor,100/1 broker would close your orders with negative slippage. Tell the truth If I would be a broker I would make exactly the same Just don't waste your time and nerves.Very good and my congrats that you fixed the profit,just forget and go ahead .
Hi Friend
Something to consider.Wait until Feds meeting is over and take opertunity on spikes.
UC is good to short 24+ oil is gaining and we will see 22 soon.Go small build a position.With +swap you can wait without paying.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #8,045
  • Jun 17, 2015 4:54am Jun 17, 2015 4:54am
Meanwhile when I have opened terminal today(2 hours before Frankfurt started) it was a nice H1H4 picture on EJ. So made a try having as a target TMAH1 upper line , went long even volatility was really small-the disance till TMA M5 was just 6 pips. Very very long difficult and eshausted trade for me ,which I closed manually with BE(but also really interesting one).Screenshots attached.
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The second trade was short AU with fast 5 pips profit.
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Have a nice day!)

Success is nothing more than a few simple disciplines, practiced every day.
  • #8,046
  • Jun 17, 2015 4:59am Jun 17, 2015 4:59am
Quoting Davit
{quote} Hi Friend Something to consider.Wait until Feds meeting is over and take opertunity on spikes. UC is good to short 24+ oil is gaining and we will see 22 soon.Go small build a position.With +swap you can wait without paying. Regards
Hi Ruben jan!
Thanks for very precious recommendations,but long run trade's pips are not mine.
Wish u catch&enjoy them all դեռ մի բանել ավել))

Take care and keep your great job up!

Rgs.,


Quoting kenlionheart
{quote} Nice exit on the AUD trade, closed it in profit, while it would have hit your SL. Good one. And you closed the EURJPY on the TMA line. Nicely done You are making a video? Please do share it here when it's done
hi Ken!
I use CAmtasia studio for recording my trading sessions ,but I am not making a movie)) It is just for personal use only. After my trading session is closed ,I wath the video to enjoy one more time winner trades) and of course one more time to fix omissions,make sreenshots and etc.Very useful tool,and I am highly reccomend to use it.

Rgs.,
Success is nothing more than a few simple disciplines, practiced every day.
  • #8,047
  • Edited 7:40am Jun 17, 2015 7:29am | Edited 7:40am
AUDCHF +9,6 pips

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A little risky, because price went below TMA H1/H4 but i decided that momentum is still in game And was ready to close it on the first sign on weakness
Closed on TMA M1/M5

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,048
  • Jun 17, 2015 10:02am Jun 17, 2015 10:02am
EURUSD +18.1 pips

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A little risky again, as it was on H4 centerline, so this is why my hard stop loss was about 7 pips
Closed after Babon slope started to changing color

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,049
  • Jun 17, 2015 11:49am Jun 17, 2015 11:49am
Quoting Machinator
Meanwhile when I have opened terminal today(2 hours before Frankfurt started) it was a nice H1H4 picture on EJ. So made a try having as a target TMAH1 upper line , went long even volatility was really small-the disance till TMA M5 was just 6 pips. Very very long difficult and eshausted trade for me ,which I closed manually with BE(but also really interesting one).Screenshots attached. {image}{image}{image}{image} The second trade was short AU with fast 5 pips profit. {image} Have a nice day!)

Hello Mentor David.

For you chart, i noticed you stressed your self abit.
You could easily, drag and drop your closed trade to chart, and a line magically draws entry and exit point on the chart.
Hope this helps? just my 2 cent


Regards,
Festus
Motivation is what gets you started. Habit is what keeps you going
  • #8,050
  • Jun 17, 2015 3:12pm Jun 17, 2015 3:12pm
Quoting kenlionheart
{quote} . I actually watch 8 pairs. This might look crazy, .Everyone has to decide what works better for them at the current time.

Ken, first, thank you for your thorough response. You are wonderfully organized and obviously have developed the ability to process substantial amounts of information quickly. Bravo!

Few could emulate you, certainly not me. I do feel more comfortable with that two to four quality trades a day . . . if I recognize that many.

I continue to appreciate your personal analysis of your trades. Most useful.

Continued great trading to you,

F-S/ Dave
  • #8,051
  • Jun 17, 2015 4:44pm Jun 17, 2015 4:44pm
why i can run the TMA. It cannot be use

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  • #8,052
  • Jun 18, 2015 12:54am Jun 18, 2015 12:54am
Quoting kenlionheart
{quote}I feel one disadvantage of trading this way... is I see more counter-trend setups than classic Babon.
yes, exactly. i noticed that too

i know that the entry is just based on 17. Pattern "TMA M1 beyond TMA M5/M15" not the whole rule.
but honestly, those position gave me more return than classic babon.

so, anyone experiencing the same??
and maybe you have any suggestion about placing SL or TP??
*summoning machinator & pretorian
"If you run, you'll only die tired." - Sniper's philosophy
  • #8,053
  • Jun 18, 2015 1:01am Jun 18, 2015 1:01am
Quoting redza
why i can run the TMA. It cannot be use {image}
use the latest TMA.
u can search using attachement icon on top right of this page..
or u can find the link posted by machinator a few pages back. good luck!
"If you run, you'll only die tired." - Sniper's philosophy
  • #8,054
  • Jun 18, 2015 4:52am Jun 18, 2015 4:52am
Quoting redza
why i can run the TMA. It cannot be use {image}
Hello redza,
Use this one http://www.forexfactory.com/showthre...09#post8320309

Quoting tomiko
{quote} yes, exactly. i noticed that too i know that the entry is just based on 17. Pattern "TMA M1 beyond TMA M5/M15" not the whole rule. but honestly, those position gave me more return than classic babon. so, anyone experiencing the same?? and maybe you have any suggestion about placing SL or TP?? *summoning machinator & pretorian
Hello tomiko,
And you have summoned me

I'm trading this pattern ONLY few ways:

1. When we have a big picture consolidation
2. When we have weak trend or it is getting exhausted
3. When we have a strong momentum - in direction of this momentum (Let's say that we have a H1/H4 strong down momentum. Then if i see TMA M1 ABOVE TMA M5/M15 but strong down momentum is still in game - i consider trade this as a pattern, because strong momentum still supports my trade)

About SL/TP

SL is always hard stop loss and it is 12 or 15 pips according to rules
But of corse you should close your trade with small profit or small loss if you're not sure, you don't like PA or something
TP is not fixed, but you must know that you're trading against trend so do not be greedy (but if you move your SL to BE - you can consider some few more pips)

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,055
  • Jun 18, 2015 5:26am Jun 18, 2015 5:26am
AUDUSD +21.2 pips

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A little against some rules, as we were close to TMA H4 and above TMA H1, but today big picture shows great AUDUSD strenght, so i entered
I also entered because trade was supported by Hunter rules entry, so all my doubts about TMA H1/H4 disappeared and i pulled a trigger

Attached Image


Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,056
  • Jun 19, 2015 12:28am Jun 19, 2015 12:28am
Quoting pretorian1
{quote} Hello redza, Use this one http://www.forexfactory.com/showthre...09#post8320309 {quote} Hello tomiko, And you have summoned me I'm trading this pattern ONLY few ways: 1. When we have a big picture consolidation 2. When we have weak trend or it is getting exhausted 3. When we have a strong momentum - in direction of this momentum (Let's say that we have a H1/H4 strong down momentum. Then if i see TMA M1 ABOVE TMA M5/M15 but strong down momentum is still in game - i consider trade this as a pattern, because strong...
wow.. many thanks for the superb explanation, Michael!!
i'll add those into my consideration when opening a position.

best regards, tomiko
"If you run, you'll only die tired." - Sniper's philosophy
  • #8,057
  • Jun 19, 2015 12:38am Jun 19, 2015 12:38am
Quoting pretorian1
AUDUSD +21.2 pips {image} A little against some rules, as we were close to TMA H4 and above TMA H1, but today big picture shows great AUDUSD strenght, so i entered I also entered because trade was supported by Hunter rules entry, so all my doubts about TMA H1/H4 disappeared and i pulled a trigger {image} Regards, Michael
well.. since i have trouble waiting the perfect momen on babon, i think i should learn hunter soon.. or maybe klondike, too
from what i read, klondike provide many chance to re-entry, and so does hunter.
but those 2 system require understanding of babon as the basic.
am i right??
"If you run, you'll only die tired." - Sniper's philosophy
  • #8,058
  • Jun 19, 2015 6:50am Jun 19, 2015 6:50am
Hi all, thanks for keeping this thread alive. I took this GBP/JPY trade just now with minimal drawdown for 13.5 pips, Really did like this trading strategy so hopefully I'll finally start making money with it
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Island hopping throughout the Caribbean
  • #8,059
  • Jun 19, 2015 6:57am Jun 19, 2015 6:57am
Quoting tomiko
{quote} wow.. many thanks for the superb explanation, Michael!! i'll add those into my consideration when opening a position. best regards, tomiko
Hello tomiko and here you are

Quoting tomiko
{quote} well.. since i have trouble waiting the perfect momen on babon, i think i should learn hunter soon.. or maybe klondike, too from what i read, klondike provide many chance to re-entry, and so does hunter
Babon has many variables, needed to open a trade and trading following ALL the rules Sometimes you have to wait long time for the best signal. So this is why I'm trading also other systems One of them is also Hunter. Personally i never traded Klondike system, so i cannot say anything about this system. Favorite said that Klondike has many more entries during a day.

Quoting tomiko
but those 2 system require understanding of babon as the basic. am i right??
They has some similar elements as in Babon - Hunter contains also TMA's, same as Klondike (TMA M5), Klondike has also Big Picture from Babon.
So understanding Babon surely will help you trade Hunter and Klondike. But you can also learn them independly.

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,060
  • Jun 19, 2015 9:27am Jun 19, 2015 9:27am
hey guys,

today a positive trade... it was a counter trend trade as h1 chart was at tma middleline (h4tma near too) and in m1chart price touched tma15.

quick 5pips

nice weekend 2all

themoney
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