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Scalping Machine Trading on ECN account

  • #41
  • Jul 24, 2015 9:16pm Jul 24, 2015 9:16pm
Friday trading day ending with positive PIP and positive gain but nett in negative due to commision

Total closed positions recorded as follow;

4 closed position on EURUSD pair in RED with gross loss of $-23.8
5 closed positions on EURUSD pair in GREEN with gross gain of $61.5
4 closed positions on GBPUSD pair in RED with gross loss of $-25.2

sum at to gross gain of $ 12.4 with commission totalling at $52
Nett Gain in negative at $-39.6

------------------------------------------------------------------

Total gross accumulated profit between 20th July 2015 – 24th July 2015 clocked at $956.94

Total commission paid $334.54
Total net gain in profit $622.4, or about close to 13% gain from opening balance of the week

Total lot size traded 71.55
  • #42
  • Jul 25, 2015 7:52pm Jul 25, 2015 7:52pm
This is a very interesting post regarding scalping. I just started trading with live account recently and have only been manual trading with M30 Time frame. Personally, I have never tried scalping, but I am planning on understanding the concept before trying out the scalping strategy. Hopefully, I'll learn something along the way by subscribing to you

Just a quick question, do you think I could apply this strategy but using M30 instead of 1H?
  • #43
  • Jul 26, 2015 9:39pm Jul 26, 2015 9:39pm
Quoting kiwirood
This is a very interesting post regarding scalping. I just started trading with live account recently and have only been manual trading with M30 Time frame. Personally, I have never tried scalping, but I am planning on understanding the concept before trying out the scalping strategy. Hopefully, I'll learn something along the way by subscribing to you Just a quick question, do you think I could apply this strategy but using M30 instead of 1H?
Dear Kiwirood,

Based on my observation, M30 and H1 S&R pivot level are pretty much the same with H1 having lesser painted on the chart. I prefer on H1 since the EA i used, use H1 S&R level as entry point. Point to note; S&R pivot level painted on MTF-SUpport-resistance indicator works by painting the level upon the confirmation (closed candle) on the higher timeframe. Means if you use the M30 chart, the S&R level painted based on each H1 closed candle and if you use H1 chart, its actually based on H4 candle closed. Based on my understanding and experience higher timeframe entry gives more confirmation rather than smaller one. hence my approach.

do have a look from time to time on my trading journal, occasionally i do post some entry suggestion for the day, and my entry suggestion usually is being posted mid asia session, before London open.

Im trading from Asia GMT+8 anyway.
  • #44
  • Jul 26, 2015 9:48pm Jul 26, 2015 9:48pm
Good Morning and its a new week.

Im expecting a ranging week for both pairs EURUSD & GBPUSD till the rest of the week, but expecting a good breakout from S&R level so that i can make some positive gain on the traded account.

As per my last post, last week has been very good to me with an increase of closed to 13% of equity from opening balance.

This morning, EURUSD had a small break from the Friday Resistance level and 3 closed positions recorded on the traded pair in GREEN.

Potential trade for the rest of the day today;

EURUSD
1) Long above last Thursday Resistance at 1.1016
2) Long above 15th July Resistance at 1.1035
3) Sell below today's newly formed support at 1.0969
4) Sell below last Friday Support at 1.0925

GBPUSD
1) Long above last Friday Resistance at 1.5671
2) Short below today's newly formed Support at 1.5498
3) Short below last Friday Support at 1.5467

No changes on mechanism of trading as per my first post.
  • #45
  • Jul 26, 2015 10:04pm Jul 26, 2015 10:04pm
Quoting emptycube
{quote} Dear Kiwirood, Based on my observation, M30 and H1 S&R pivot level are pretty much the same with H1 having lesser painted on the chart. I prefer on H1 since the EA i used, use H1 S&R level as entry point. Point to note; S&R pivot level painted on MTF-SUpport-resistance indicator works by painting the level upon the confirmation (closed candle) on the higher timeframe. Means if you use the M30 chart, the S&R level painted based on each H1 closed candle and if you use H1 chart, its actually based on H4 candle closed. Based on my understanding...
Thanks for the response, emptycube.

I am also trading from Asia (GMT +7) so your entry suggestion works with me . Regarding the MTF-Support-Resistance indicator that you have posted, I turned off the auto time frame setting and edited the Time Frame manually in the setting to M5, M60, and M240 (which should be the same setting as a H1 chart that you are using). By doing so, I hope this strategy could now be applied to the M30 chart.

Anyways I'll continue to check up on your trading journal from time to time . Happy Trading!
  • #46
  • Jul 26, 2015 10:35pm Jul 26, 2015 10:35pm
Quoting kiwirood
{quote} Thanks for the response, emptycube. I am also trading from Asia (GMT +7) so your entry suggestion works with me . Regarding the MTF-Support-Resistance indicator that you have posted, I turned off the auto time frame setting and edited the Time Frame manually in the setting to M5, M60, and M240 (which should be the same setting as a H1 chart that you are using). By doing so, I hope this strategy could now be applied to the M30 chart. Anyways I'll continue to check up on your trading journal from time to time . Happy Trading!
sounds fantastic, perhaps you can open a trade journal and share it there. im pretty interested to learn, everybody learn something from somebody even a bit or two. My ECN account is still pretty new; entering day 50, my target is to reach 10K equity in USD by September. If it can, i may pump in additional investment to a certain amount which is the minimum amount allowed to trade directly with Liquidity Provider because, im currently paying quote a hefty commission to retail broker. Total commission paud so far already reaching 1.3K USD
  • #47
  • Jul 26, 2015 10:46pm Jul 26, 2015 10:46pm
Quoting emptycube
{quote} sounds fantastic, perhaps you can open a trade journal and share it there. im pretty interested to learn, everybody learn something from somebody even a bit or two. My ECN account is still pretty new; entering day 50, my target is to reach 10K equity in USD by September. If it can, i may pump in additional investment to a certain amount which is the minimum amount allowed to trade directly with Liquidity Provider because, im currently paying quote a hefty commission to retail broker. Total commission paud so far already reaching 1.3K USD...
I just recently start trading live so I don't think many can learn a lot from me yet haha. I also used an ECN account with around similar return with yours, but I haven't apply any scalping strategy yet. Regarding your total commission, 1,300$USD commission is quite high given the fact that your total profit is about 2,000$USD . Did you signed up for any rebates for your account? That way, at least you get some of the commission back
  • #48
  • Jul 26, 2015 11:36pm Jul 26, 2015 11:36pm
Quoting kiwirood
{quote} I just recently start trading live so I don't think many can learn a lot from me yet haha. I also used an ECN account with around similar return with yours, but I haven't apply any scalping strategy yet. Regarding your total commission, 1,300$USD commission is quite high given the fact that your total profit is about 2,000$USD . Did you signed up for any rebates for your account? That way, at least you get some of the commission back
Yeap there is, commission rebate from 10% up to 30%, my current level is 10% rebate.

well lets see how i can grow this account, anyhow, my ultimate plan is to trade directly with liquidity provider (tho it requires around 25K $USD min), but my immediate target is to hit 10K $USD growth in profit from this account. wish me the best!
  • #49
  • Jul 26, 2015 11:38pm Jul 26, 2015 11:38pm
Quoting emptycube
{quote} Yeap there is, commission rebate from 10% up to 30%, my current level is 10% rebate. well lets see how i can grow this account, anyhow, my ultimate plan is to trade directly with liquidity provider (tho it requires around 25K $USD min), but my immediate target is to hit 10K $USD growth in profit from this account. wish me the best!
Wish you lots of green pips!
  • #50
  • Jul 27, 2015 4:57am Jul 27, 2015 4:57am
some of the entries posted on my previous post were hit with the following results;

Entering London mid-day session today, there was a yo yo closed trade recorded with and increase of equity close to $400 back then bounce back with recorded losses make it close total at break even (actualy lost by $1 USD)

Total closed positions recorded as follow;

6 closed position on EURUSD pair in RED with gross loss of $-227.65
6 closed positions on EURUSD pair in GREEN with gross gain of $391.35
4 closed positions on GBPUSD pair in RED with gross loss of $-41.75

that brings to a total gross gain off $121.94

however the total commission paid for all closed positions above are $122.82

making the entire nett gain in negative $-0.88

next possible entries as follow;

EURUSD
1) Long above today highest at 1.1113

GBPUSD
1) Long above today highest at 1.5544
  • #51
  • Jul 27, 2015 9:10pm Jul 27, 2015 9:10pm
had a yoyo day yesterday, but ended with minor gain in account by 1%;

im unable to monitor much for the rest of the week as i need to rush back to my mother-in-law place due to some personal matter. Will be logging in to FF but may not be posting result and trade suggestions.

hope can monitor back by next week.
  • #52
  • Jul 29, 2015 4:18am Jul 29, 2015 4:18am
Some Side Story:

Almost had a heart attack, before i left to my mom-in-law place which is located about 3 hours drive from my home; I logged in to my VPS to enable an experimental time base martingale based EA to my Cent Account. Silly me, i accidentally attached it to my Scalping Machine account which have a balance of $4500 on it. it does make some profit over the time, a small one up to $100 but today, during the EURUSD drop on Asian Session, the trend was so strong that push the martingale EA to open up to a maximum allowed position of 10. Had a drawdown touching $2000 when my buddy called me to inform bout the issue. I panicked, and to make thing worst, the 3G connection at the area is pretty bad. Drive out to the nearest McDonald and logged to the VPS to contained the situation, the drawdown had touch $3000 and i almost got stop-out. Deposited additional $1500 to my account to protect the margin from reaching the stop-out level.

Luckly the pair retrace back to acceptable level thereafter and the level 10 position hit TP where followed by closure of the other 9 level with a gain in equity. Lucky me, i could have blown my account.

---------------------------------------------------

Im unable to post much about trade suggestion as i need to settle few things or two and had already ensure my Scalping EA is properly installed and the martingale is atttached to the correct account.
  • #53
  • Jul 29, 2015 9:43pm Jul 29, 2015 9:43pm
OK Im back,

apart from the side story i posted yesterday, FOMC statement late evening yesterday was a same-ol-same-ol that cause a whiplash on the pair i traded both EURUSD and GBPUSD. Had a good scalp during the volatility.

Anyhow, so far this week, accumulated gain is about to reach $400.

possible entries for today as follow;

EURUSD
1) Long above the peak recorded during FOMC statement at 1.1079
2) Long above possible formed resistance 1.0989 (need to wait for resistance formation based on indicator, entry is invalid unless resistance formed)
3) Short below 24th July Support at 1.0925

GBPUSD
1) Long above the peak recorded during FOMC statement 1.5655
2) Long above Yesterday's high at 1.5690
3) Short below Yesterday;s low at 1.5587

My target for this week is total gain on profit of $600 nett, so far I'm at $382
  • #54
  • Jul 30, 2015 8:01am Jul 30, 2015 8:01am
had a total of 4 closed positions all on EURUSD pair with RED

it was a ranging day today for both EURUSD and GBPUSD pair.

my target for this week is to have a gain in profit of $600, already at $382 but the 4 positions opened during high volatility of GDP and Unemployment claims data turn to be catastrophic .

All 4 closed positions made a negative gain $-659, that brings me to total target gain for the week in negative at $-277

what a bummer, oh well, but this month still in green with total net gain till date standing at $647
  • #55
  • Jul 30, 2015 9:00pm Jul 30, 2015 9:00pm
Hi All,

Entering midday US session, we see another 4 closed position recorded with a nett gain of $222.24

Recovering from the lost created during GDP announcement yesterday. that brings to a total net gain for the week standing at $-55 and nett gain for the month standing at $869.

Today is the last trading day of the week and the month, lets see whats the net gain in figure and percentage i've made this month running the described strategy

--------------------------------------------------

Trade suggestion for today;

EURUSD
1) Long above yesterday Resistance at 1.0985
2) Short below Yesterday Support at 1.0893

GBPUSD
1) Long above yesterday's high at 1.5642
2) Short below yesterday's low at 1.5562
  • #56
  • Jul 31, 2015 11:30am Jul 31, 2015 11:30am
well, its almost at the end of trading journey for the month of July 2015, what is thought to be a good month this july when there was a day the account rack up to $600 in profit turns to be blehhhhh towards the end of the month, today itself the account making a lost during the news making a total gain for the week in negative figure of $-419

All trading details can be refered on my trade list tab of the explorer.

However, in total, the account made $505 or about 8% gain ,which is good , just that way off from my initial target of 25%

In general, im relieved the account still making a gain overall.

Note: statistic of this 54days old account using the strategy posted on first post. A total of gross gain in figure of $3500 but commission paid taking more than half of it which is $2000, making a total nett gain in equity of only $1500. How i wisheds its a commission free trading.

------------

Next week, gonna be an interesting one, its NFP week, and im planning to risk up to $1000 for the gain of $2500. Will be trading NFP using straddle script which i use to trade news.

All the best to all and happy weekend.
  • #57
  • Aug 2, 2015 11:39pm Aug 2, 2015 11:39pm
Good Morning and Good Day to all, Its a start of a new week and a new trading month!

Summary of account on closing for month of July 2015
Gross Gain of Profit : $2131.37
Commission Paid: $1626.24

Nett Gain: $505.13 or about 8% increase of equity

and based on the figure above, the commission paid is 3 fold than the gain in equity; oh well, broker is the one that made money

Note: Rebate received from Broker $163

----------------------------------------------------

Target for the month of August 2015

Target of profit before commission of $4000

Trading suggestion for today;

EURUSD
1) Long above 1.10115
2) Short below 1.0964

GBPUSD
1) Long above 1.5637
2) Short below 1.5597

No changes on trading methodology for its entry and exit.
  • #58
  • Aug 3, 2015 10:52pm Aug 3, 2015 10:52pm
had to do a lot of manual trade yesterday 4 our of 7 trader requires manual intervention due to low volatility.

on usual scalping by the automated trading will enter and exit within a minute but had to prolong few to keep get a good ones.

Anyhow, a total of 7 closed trade recorded yesterday with 5 trades in GREEN and 2 trades in RED; with total gross gain of $303.61 and commission paid $62.65 making a nett gain of $240.96

-------------------------------------------------

im unable to give any trade suggestion for today
  • #59
  • Aug 10, 2015 4:23am Aug 10, 2015 4:23am
seems like you use martingale, damn bro thats a recipy for disaster!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #60
  • Aug 10, 2015 6:46am Aug 10, 2015 6:46am
Quoting Soros
seems like you use martingale, damn bro thats a recipy for disaster!
hi Soros,

by default, no. There was a mistake that i accidentally put in my martingale EA on this account while it supposed to be attached to my cent account, it runs but lucky nothing disastrous happen

the concept is breakout on S&R with quick scalping. the one exponential x2 lots its martingale but other note.
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