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Daytrading/scalping with high leverage - my proven strategy

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  • #8,221
  • Sep 3, 2015 1:39am Sep 3, 2015 1:39am
There is opportunities in Japan session i just rarely trade it. Try AU and AJ wait for them to ding the upper/lower band opposite of the H1 trend. Then expect it to reverse in the direction of the H1. But when it's dull and it's not hitting any of the upper/lower bands of TMAM15 just stay away.
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  • #8,222
  • Sep 3, 2015 5:35am Sep 3, 2015 5:35am
So.... If you haven't made money yet you are not the only one.
I got two trades today both hit at break even due to time stop there was momentum then it disappeared like a soda pop fizzle.
I dunno maybe they are waiting on USD Unemployment claims? I was also waiting for USDCHF for something to happen but no no it's range o rama.
Ah well. I just wanna say something cause there is no action at the moment.
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  • #8,223
  • Edited 10:16am Sep 4, 2015 10:01am | Edited 10:16am
Short $yen to ten...that's 119.10

4hr. TDI is below 50 line and its red line, 1hr TDI is below 50 as is the 30 min.

So as the 15 goes down from above its 50 line it hopefully will do it with the big MO!...momentum.

I'm going to key my trades to the TDI 4 hour trending and see how it goes.

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Update: 119.29 to 119.10 = +19
  • #8,224
  • Sep 4, 2015 10:07am Sep 4, 2015 10:07am
Quoting maflip
There is opportunities in Japan session i just rarely trade it. Try AU and AJ wait for them to ding the upper/lower band opposite of the H1 trend. Then expect it to reverse in the direction of the H1. But when it's dull and it's not hitting any of the upper/lower bands of TMAM15 just stay away. {image} {image}

Thanks for this Maflip!

Wish I'd of shorted the AJ at Tokyo open. It didn't quite hit the band but the price action was obvious on the TDI's. Will start Asia trades next week...Happy Weekend!
  • #8,225
  • Edited 12:09pm Sep 4, 2015 10:35am | Edited 12:09pm
Couldn't resist this 30 min. TDI head and shoulders so shorted 132.34. I have a big stop way up at 132.64 so will shoot for 132.02 but will go to breakeven at 132.21


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Update: Bit the dust, -30.

Just too anxious to trade when work is too much. So will shoot to do more Tokyo open trading and look for the Audusd and Audjpy fake outs maflip referred to above and stick to high probability set ups.
  • #8,226
  • Edited 11:41pm Sep 6, 2015 11:30pm | Edited 11:41pm
Quoting Poocher
Couldn't resist this 30 min. TDI head and shoulders so shorted 132.34. I have a big stop way up at 132.64 so will shoot for 132.02 but will go to breakeven at 132.21 {image} Update: Bit the dust, -30. Just too anxious to trade when work is too much. So will shoot to do more Tokyo open trading and look for the Audusd and Audjpy fake outs maflip referred to above and stick to high probability set ups.
Good... So... did you actually short AJ? You should have an entry already minutes ago and taken profit a good chance it's going to hit the lower band of TMAM15 too...

Keep sticking with the trend as long as they respect the swings of the trend.

Stay away if it consolidate at H1 wait for a new break then resume. Gotta have patience, that or look for another pair. Problem is during asian session AJ and AU is the best one to trade in my experience.
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  • #8,227
  • Sep 7, 2015 3:43pm Sep 7, 2015 3:43pm
:-) set alerts the other night to email through to my phone when TMA15 touched during TK session. I tell you I was up more often than when the kids were just born, but there were no counter-trend pullbacks to touch the opposite side (the ones my eyes unblurred enough to see)..... wife was unimpressed with constant ding-dongs of emails arriving into my phone and my brain so befuddled that I couldn't make head nor tail after a few hours :-)

So, with work times not currently conducive, going to try something just to begin training my eye a bit more on what things look like during UK day time.

Video screen capture of EJ, to be reviewed in the evening at my leisure. Not perfect, however can start to build minds-eye of how the PA/indicators look for some of the setups, and I've waited a few years already.....maybe I'll need to wait a little more, but the training wont hurt.
  • #8,228
  • Sep 7, 2015 9:22pm Sep 7, 2015 9:22pm
Quoting stu
:-) set alerts the other night to email through to my phone when TMA15 touched during TK session. I tell you I was up more often than when the kids were just born, but there were no counter-trend pullbacks to touch the opposite side (the ones my eyes unblurred enough to see)..... wife was unimpressed with constant ding-dongs of emails arriving into my phone and my brain so befuddled that I couldn't make head nor tail after a few hours :-) So, with work times not currently conducive, going to try something just to begin training my eye a bit...
hah hah hah Thing is I don't need email alerts because I'm at home monitoring this thing and I don't have a day job. I trade full time. If you know a programmer have it limit the alert to once per hour. Also, I only look for alerts of the top 4 of the main trenders of the H1. But for Japan session the ones that moves most is AJ.

Another solution is maybe you don't have time for scalping have you tried trading the higher TF? Trading the direction of H4 and entries on M15 works too.
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  • #8,229
  • Sep 7, 2015 10:24pm Sep 7, 2015 10:24pm
Quoting stu
:-) set alerts the other night to email through to my phone when TMA15 touched during TK session. I tell you I was up more often than when the kids were just born, but there were no counter-trend pullbacks to touch the opposite side (the ones my eyes unblurred enough to see)..... wife was unimpressed with constant ding-dongs of emails arriving into my phone and my brain so befuddled that I couldn't make head nor tail after a few hours :-) So, with work times not currently conducive, going to try something just to begin training my eye a bit...
There is actually two today UJ and AJ.
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  • #8,230
  • Sep 8, 2015 12:36am Sep 8, 2015 12:36am
Early trade...

New swing low on M5 with H1 trend so lets follow up on pullback. AJ +22 pips

Precise entry this one brings tears of happiness to my eyes.
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  • #8,231
  • Sep 8, 2015 2:12am Sep 8, 2015 2:12am
-24 I got hit by a fake breakout. Stop and reverse +19.
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  • #8,232
  • Sep 8, 2015 5:09pm Sep 8, 2015 5:09pm
Quoting maflip
-24 I got hit by a fake breakout. Stop and reverse +19. {image}

Nice damage limitation :-) and thanks for the earlier advice. How did you make the snap decision to reverse the trade i.e. was it purely on the break of the support to the left that gave you enough confidence to instantly open the short as opposed to just stopping the looser?

Purely a side observation - I managed to record 2 hrs today of EJ before a tech hitch cut it short (wife shut down my laptop lid!!!!). It hit me while I was watching it after work, that this is actually a brilliant way to truly watch the 'live' price action around the indicators. Reason being that while I'm seeing it as it happened, I cannot trade it so I'm forced to just watch. If I was on demo then I'd be thinking about opening trades here & there but the video forces me to just focus on what I see without the pressure to trade (plus I can speed up playback so got through 2hrs in 15 mins).
  • #8,233
  • Edited 6:34pm Sep 8, 2015 6:09pm | Edited 6:34pm
Quoting stu
{quote} Nice damage limitation :-) and thanks for the earlier advice. How did you make the snap decision to reverse the trade i.e. was it purely on the break of the support to the left that gave you enough confidence to instantly open the short as opposed to just stopping the looser? Purely a side observation - I managed to record 2 hrs today of EJ before a tech hitch cut it short (wife shut down my laptop lid!!!!). It hit me while I was watching it after work, that this is actually a brilliant way to truly watch the 'live' price action around the...
It's a pattern failure. Long consolidation after a big push up without even retracing to 50% fib is a breakout play at the direction of the trend. Also, there is already one fakeout to the downside usually the 2nd fakeout is the real move. However, it turns out to be a fake too. This is another reason I only trade pairs with good momentum alot of times there are stop and reverse trades like this.

The reversal trade is already planned so it's not a snap decision. Have you heard of the turtle soup trade? It's something like that there is a professional trader who trades false breakouts and this is one of them.

Rememeber my post on http://www.forexfactory.com/showthread.php?p=8471125#post8471125 (Post # 8222) I said I was waiting for it for something to happen right? Well that's one of them you take a trade to the upside when the consolidation breaks out. That is why I've been waiting for it for something to happen. Unfortunately, I missed the breakout as I have been waiting all day and I finished trading when it happened. I saw the breakout the next day and I was like dang I missed that one.
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  • #8,234
  • Sep 8, 2015 6:22pm Sep 8, 2015 6:22pm
Quoting maflip
{quote} It's a pattern failure. Long consolidation after a big push up without even retracing to 50% fib is a breakout play at the direction of the trend. Also, there is already one fakeout to the downside usually the 2nd fakeout is the real move. However, it turns out to be a fake too. This is another reason I only trade pairs with good momentum alot of times there are stop and reverse trades like this. {image}
And then, it consolidate again and I shorted it again which I did not post here. There is still room to move to the downside so this second short is a good trade. Another stop and reverse trade if the short did not work. Fortunately it worked. +10 pips profit on EU
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  • #8,235
  • Sep 9, 2015 1:25am Sep 9, 2015 1:25am
Quoting maflip
{quote} And then, it consolidate again and I shorted it again which I did not post here. There is still room to move to the downside so this second short is a good trade. Another stop and reverse trade if the short did not work. Fortunately it worked. +10 pips profit on EU {image}
...tnx
  • #8,236
  • Sep 9, 2015 1:40am Sep 9, 2015 1:40am
Quoting stu
{quote} ...tnx
+10 AJ did you get it?
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  • #8,237
  • Sep 9, 2015 1:48am Sep 9, 2015 1:48am
Quoting maflip
{quote} +10 AJ did you get it? {image} {image} {image}
The other one I'm looking at right now is GJ but if you look at the two AJ has cleaner price action move. So I choose it. But, both are bullish right now.
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  • #8,238
  • Sep 9, 2015 8:23am Sep 9, 2015 8:23am
I got up at two and a half hours after the London open so not the best time to trade but had a couple winners.

Eurusd sold some downward 30 minute momentum from 1.11936 to a mid-pivot support line at 1.1178 for +15.6

Longed Audjpy 5 minute band bounce with 5 and 30 minute momentum from 84.898 to the London open right at 85 for +10.2

Could of hung on for more but like maflip says we're scalpers looking for high probability results and I'm desperate to develop consistency. Cheers!

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  • #8,239
  • Edited 8:52am Sep 9, 2015 8:35am | Edited 8:52am
Short Eurjpy from 134.90 on just "some" 15 min. momentum targeting 134.75.

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Update: -13
  • #8,240
  • Sep 9, 2015 11:16am Sep 9, 2015 11:16am
That last Eurjpy trade was so stupid I had to do something to keep me out of similar trades in the future.

I added the colored stochastic indicators that Alien uses with the same settings, 21,10,10 and 8,3,3.

Plus I got the Tma and Fasttmaline bands different colors so I can see a roaring trend. I'll favor the 30 minute trend of the stochastic and try to get in on 15 min. Tma band touches.

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