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Daytrading/scalping with high leverage - my proven strategy

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  • #8,441
  • Aug 23, 2016 9:54pm Aug 23, 2016 9:54pm
Quoting zawoo86
Could anyone give me an example of the right condition on H1/H4, HA, TDI to trade? I am still not getting it. Most examples I dug through this thread shows only M1 and they seems simple. I used yellow square for all the valid short signs on H1 and H4. M1 shows a good "M1 TMA Below cloud" pattern. I entered short on green square. Are my H1 and H4 interpretation not valid? It jus feels like the second I press buy/sell, that price becomes the immediate supp/resis .. and price never goes beyond that point every again.... {image}
I'm just getting into this setup myself but it seems like you're either not waiting for the right entry points or are ignoring the price action itself just because a few of the rules are met and the overall conditions are good doesnt mean you should trade. If you've read the whole system and everything Favorite and all the other guys have said, you should know that Favorite doesn't trade unless all of the rules were in favor. Yes, there are a few examples where he took some trades where one or two rules said no but thats because of his experience with the system, knowledge of price action and the market. I suggest you test the method on a demo and try to make sure all rules are in favor before you place a trade. Mind you no system can have a 100% success rate even if all the conditions are met. H1 is just to identify what type of market your in range or trend and if you should trade or not trade. These guys have given a wonderful system here but nothing is black and white. Even if all conditions are met, the market could still turn against you based on fundamental news from either country, price being around round numbers, key fibs, time of day, market openings and etc. Learning how to trade on the Forex market takes more than just having a decent system. Most experienced traders could take any reputable system and make a profit. Did you read volume 2 and 3 of lance beggs price action book like suggested??

As for providing H1 examples, the rules are clear in the post and there are a few examples already on the forum.
Gentlemen always play by the rules, if they can't, they change them.
  • #8,442
  • Aug 24, 2016 1:30am Aug 24, 2016 1:30am
Quoting zawoo86
Could anyone give me an example of the right condition on H1/H4, HA, TDI to trade? I am still not getting it. Most examples I dug through this thread shows only M1 and they seems simple. I used yellow square for all the valid short signs on H1 and H4. M1 shows a good "M1 TMA Below cloud" pattern. I entered short on green square. Are my H1 and H4 interpretation not valid? It jus feels like the second I press buy/sell, that price becomes the immediate supp/resis .. and price never goes beyond that point every again.... {image}
Hi Zawoo!
Thanks,I like your persistence a lot.
I mark with the oval the hours when u usually trade. Look in the graph,and tell me ,maybe it will better from logical point to change your trading hours?

Rgs.,
Attached Image
Success is nothing more than a few simple disciplines, practiced every day.
  • #8,443
  • Aug 24, 2016 1:58am Aug 24, 2016 1:58am
Quoting Machinator
{quote} Hi Zawoo! Thanks,I like your persistence a lot. I mark with the oval the hours when u usually trade. Look in the graph,and tell me ,maybe it will better from logical point to change your trading hours? Rgs., {image}

Hmmm I have not seen it from that perspective. I live in Asia so my trading hours are kinda off. I will look into that. Thank you so much for the insight. I really do wish to be successful with this system. The biggest hurdle for me is I do not know what I am doing wrong, and only people who have success with this system can point out to me what I am doing wrong. Once I know what I am doing wrong, I will work to improve it. Thank you all for the patience and guidance.
  • #8,444
  • Aug 24, 2016 2:19am Aug 24, 2016 2:19am
If you are trading during Asian session, try to stick to currencies like yen crosses, AU, NU, and AN
  • #8,445
  • Aug 24, 2016 4:24am Aug 24, 2016 4:24am
EURJPY +13.9 pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy trade.png Size: 50 KB


Missed the "main entry" so i entered on a re-entry signal. Still a little bit ranging market, but i decided that H1 supports my decision to go short. Exit at TMA M5

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,446
  • Aug 24, 2016 7:48am Aug 24, 2016 7:48am
Quoting pretorian1
EURJPY +13.9 pips {image} Missed the "main entry" so i entered on a re-entry signal. Still a little bit ranging market, but i decided that H1 supports my decision to go short. Exit at TMA M5 Regards, Michael
yes....with Ej 5 day range down to 78 pips, and a lot more focus for me has been on UCAD, GU, UJ and NU.
  • #8,447
  • Aug 24, 2016 7:52am Aug 24, 2016 7:52am
Quoting panamamike
{quote} yes....with Ej 5 day range down to 78 pips, and a lot more focus for me has been on UCAD, GU, UJ and NU.
I missed GBPUSD and NZDUSD entry However markets will be here tomorrow too

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,448
  • Aug 24, 2016 8:01am Aug 24, 2016 8:01am
Hi guys,I manage to get about 38 pips off EJ and EU. I think I am slowly getting the flow now. I did not enter some entry which I thought was sub par, and indeed price goes in a different direction. I guess my problem is I need to be more selective in my entries. Thanks a lot for the advises guys.
  • #8,449
  • Aug 24, 2016 8:18am Aug 24, 2016 8:18am
Quoting zawoo86
Hi guys,I manage to get about 38 pips off EJ and EU. I think I am slowly getting the flow now. I did not enter some entry which I thought was sub par, and indeed price goes in a different direction. I guess my problem is I need to be more selective in my entries. Thanks a lot for the advises guys.
Hello zawo,
And this is exactly how Babon works! It forces you to be selective by following ALL the rules included there
Good luck!

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,450
  • Aug 24, 2016 8:32am Aug 24, 2016 8:32am
Quoting pretorian1
{quote} I missed GBPUSD and NZDUSD entry However markets will be here tomorrow too Regards, Michael
Exactly. Also, need to be cautious of jumping around between too many pairs....can miss good signals. I find that if I trade two yen pairs and then focus on two strong VS weak on a 1 hr or 4 br basis, excellent opportunities tend to present themselves. If I jump around by strong vs weak on a 5 min basis it is exhausting. Pick pairs with good 1 hr big picture and let the trades come as they may.
  • #8,451
  • Aug 24, 2016 8:53am Aug 24, 2016 8:53am
May I ask how do you guys manage your trades?

For example, if I missed that crucial 1-2min window where all the signals are line up perfectly, I might just miss the trade for the day. We can't be sitting in front of the pc 24/7 waiting for that 1-2 min window to come. I saw a few potential set up which I missed today, but nonetheless I still manage to catch some. I was only monitoring 4 pairs, I'm already find it hard.

I saw some post in this thread of people getting 400 pips weekly on this system (80pips a day?), how is that possible?
  • #8,452
  • Aug 24, 2016 9:14am Aug 24, 2016 9:14am
Quoting panamamike
{quote} Exactly. Also, need to be cautious of jumping around between too many pairs....can miss good signals. I find that if I trade two yen pairs and then focus on two strong VS weak on a 1 hr or 4 br basis, excellent opportunities tend to present themselves. If I jump around by strong vs weak on a 5 min basis it is exhausting. Pick pairs with good 1 hr big picture and let the trades come as they may.
I'm trading EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY and USDCAD and it is difficult to watch them all, sometimes i just miss an entry watching something other at the moment. But if you know the rules, it's getting easier and easier to watch more pairs. Sometimes i also catch some pips from strong vs weak pairs like GBPXXX pairs Every trade comes from Big Picture, so if it's not correct, i just stop watching this pair on M1 and focus on the rest pairs.

Quoting zawoo86
May I ask how do you guys manage your trades? For example, if I missed that crucial 1-2min window where all the signals are line up perfectly, I might just miss the trade for the day. We can't be sitting in front of the pc 24/7 waiting for that 1-2 min window to come. I saw a few potential set up which I missed today, but nonetheless I still manage to catch some. I was only monitoring 4 pairs, I'm already find it hard. I saw some post in this thread of people getting 400 pips weekly on this system (80pips a day?), how is that possible?
Please remember that according to summary you can trade it both ways: 1. Classic Babon rules and 2. Naked Pattern TMA M1 Beyond Ichimoku Cloud. Most of the time I'm trading the second one. Usually the signal is not in tact for just 1-2 minute but longer, especially if you trade naked pattern, without babon slope rules.

And I do not reccomend sitting in front of PC 24/7 I start trading on Europe open (sometimes 1 hour before it) and end at the US open (sometimes 1-2 hours after that) and for me it is okay. Enough for making pips regularly
Do not chase trades - market will be there tomorrow too. Trades are not Pokemons - we do not have to catch them all!

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,453
  • Aug 24, 2016 12:46pm Aug 24, 2016 12:46pm
Quoting pretorian1
{quote} I'm trading EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY and USDCAD and it is difficult to watch them all, sometimes i just miss an entry watching something other at the moment. But if you know the rules, it's getting easier and easier to watch more pairs. Sometimes i also catch some pips from strong vs weak pairs like GBPXXX pairs Every trade comes from Big Picture, so if it's not correct, i just stop watching this pair on M1 and focus on the rest pairs. {quote} Please remember that according to summary you can trade it both ways: 1. Classic...
I also mainly trade TMA1 above/below the cloud pattern. It is very accurate, especially if there is a strong vs weak involved. I trade 2 hrs before London to 2 hours after.....then after USA numbers to London close......this is often the nicest move of the day. I also avoid the first 15 minutes of an exchange opening. Just my .02
  • #8,454
  • Aug 24, 2016 12:54pm Aug 24, 2016 12:54pm
Quoting panamamike
{quote} ..., especially if there is a strong vs weak involved. ...
What you mean by "strong vs weak"?

Thanks.
See you at Valinor!
  • #8,455
  • Aug 24, 2016 7:22pm Aug 24, 2016 7:22pm
Quoting pretorian1
{quote} I'm trading EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY and USDCAD and it is difficult to watch them all, sometimes i just miss an entry watching something other at the moment. But if you know the rules, it's getting easier and easier to watch more pairs. Sometimes i also catch some pips from strong vs weak pairs like GBPXXX pairs Every trade comes from Big Picture, so if it's not correct, i just stop watching this pair on M1 and focus on the rest pairs. {quote} Please remember that according to summary you can trade it both ways: 1. Classic...


Hahaha indeed, we do not have to catch them all.

Whats the advantage of trading naked pattern TMA M1 beyond cloud? Can't we use babon slope entry for TMA M1 beyond cloud ? Do we save a few pips trading it naked?
  • #8,456
  • Aug 24, 2016 10:08pm Aug 24, 2016 10:08pm
Quoting feanor
{quote} What you mean by "strong vs weak"? Thanks.
Strong currency vs weak currency as measured by a CSM.....currency strength meter.
  • #8,457
  • Aug 25, 2016 6:51am Aug 25, 2016 6:51am
Quoting zawoo86
{quote} Hahaha indeed, we do not have to catch them all. Whats the advantage of trading naked pattern TMA M1 beyond cloud? Can't we use babon slope entry for TMA M1 beyond cloud ? Do we save a few pips trading it naked?
I do not like relying only on Babon slope only as an entry point. For me it is much better to entry based on pure price action. Babon slope is MA, based on price and sometimes it can be too slow or too fast, you can also "miss" the signal according to classic babon rules (for example when candle after babon signal is more than 10 pips or it took lion's share of the move)

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,458
  • Aug 26, 2016 1:22am Aug 26, 2016 1:22am
Quoting panamamike
{quote} Strong currency vs weak currency as measured by a CSM.....currency strength meter.
Hi Pananamike,

Which CSM are you using?

Best regards

Shaun
  • #8,459
  • Aug 26, 2016 1:41am Aug 26, 2016 1:41am
Quoting zawoo86
May I ask how do you guys manage your trades? For example, if I missed that crucial 1-2min window where all the signals are line up perfectly, I might just miss the trade for the day. We can't be sitting in front of the pc 24/7 waiting for that 1-2 min window to come. I saw a few potential set up which I missed today, but nonetheless I still manage to catch some. I was only monitoring 4 pairs, I'm already find it hard. I saw some post in this thread of people getting 400 pips weekly on this system (80pips a day?), how is that possible?
Hi Zawoo86,

I have just read your posts and had some similar experiences at the start of trading. I have read the whole thread twice and traded it on demo for a month after getting back into Forex from a 5 year absence because of big losses. What I can say is the guys making regular pips from Babon do the same thing every day and they genuinely only take selected trades from the 'big picture'. I am still in the early stages of this, but I agree that TMA beyond the cloud with price action is the way forward, certainly for me it offers a clearer way of trading.

I print off all my trades with a worksheet I made of the rules and then review them at a later stage. Every loss I have had, apart from 2 I have concluded that I did not follow ALL the rules, or did not interpret Price Action correctly at the time. I also do not not trade every day now as I am still learning, I take time out and study, not just Babon, but trading as a whole along with reading experienced traders posts, I personally find that helps me.

Wishing you all the best,

Shaun
  • #8,460
  • Aug 26, 2016 1:45am Aug 26, 2016 1:45am
Quoting mackem73
{quote} Hi Pananamike, Which CSM are you using? Best regards Shaun
I strongly suggest concentrating on one or two pairs until you have traded this system for period of time profitably.
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