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Daytrading/scalping with high leverage - my proven strategy

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  • #8,481
  • Nov 11, 2016 5:11am Nov 11, 2016 5:11am
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...
a couple of questions about your trading mechanics of the 6 pairs u are trading....

Do you use multiple monitors (6) with one pair of the 1 min and 1 HR charts on each screen? Do you use that zoom out view on the 1 min chart for trading or just to see the recent "BIG picture" playing out on the one minute, and zoom in to make your entry?

Cheers,

Mike
  • #8,482
  • Nov 11, 2016 5:46am Nov 11, 2016 5:46am
Quoting panamamike
{quote} a couple of questions about your trading mechanics of the 6 pairs u are trading.... Do you use multiple monitors (6) with one pair of the 1 min and 1 HR charts on each screen? Do you use that zoom out view on the 1 min chart for trading or just to see the recent "BIG picture" playing out on the one minute, and zoom in to make your entry? Cheers, Mike
Hello Mike,
I'm trading with 2 monitors right now, but Im thinking about buying new one/ones.
Right now each chart is about this size:

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 21 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM1 example.png Size: 25 KB


I always check BIG PICTURE before i start my trading day to see how BP looks like and by BP i do not mean only the last 1 or few candles, but i mean watching it on full screen. My analysis is not limited to check Heiken Ashi, TDI and TMAH1/H4 but also pure Price Action patterns that can help me or harm me. Then if i know what pair is in the game, i can watch it on full screen also to see the whole picture, not only the last candles. I trade only one pair at a time, so I can pay full attention to this one pair where I want to take a trade ;-)

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,483
  • Nov 11, 2016 6:27am Nov 11, 2016 6:27am
I have two different profiles that i use.....I am attaching each. I use 4 monitors plus a laptop for strong vs weak etc.

The first one allows me to watch 8 pairs at a time......the second profile allows only for 4, but I like the added 15 min chart to spot S/R etc. The light blue square is the asian session highlighted. I also have a demo running the BIG picture for all the pairs i trade. I have scripts that change all from 1 hr view to 4 hr, daily, or weekly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2016-11-11 06_59_50-Greenshot.png Size: 165 KB
Click to Enlarge Name: BABON 1 HR.png Size: 163 KB
Click to Enlarge Name: WITH15.png Size: 142 KB
  • #8,484
  • Nov 11, 2016 6:59am Nov 11, 2016 6:59am
What size are your monitors? @Panamamike
With God all things are possible.
  • #8,485
  • Nov 11, 2016 8:43am Nov 11, 2016 8:43am
Quoting Dehyah
What size are your monitors? @Panamamike
22"
  • #8,486
  • Nov 13, 2016 3:37am Nov 13, 2016 3:37am
Hi, I need indicator for m1 band cross m5 or m15 band. Pls share if anybody have this indicator. Thanks
  • #8,487
  • Nov 17, 2016 4:06am Nov 17, 2016 4:06am
Does anybody here have the "Lance Beggs summary for babon traders"? The links no longer work.. I am reading his whole book but would be interesting to see what are the special areas for focus on for Babon.. thanks in advance
  • #8,488
  • Nov 17, 2016 5:00am Nov 17, 2016 5:00am
Quoting papamax
Does anybody here have the "Lance Beggs summary for babon traders"? The links no longer work.. I am reading his whole book but would be interesting to see what are the special areas for focus on for Babon.. thanks in advance
Hello papamax and here you are

Regards, Michael
Attached File(s)
File Type: pdf Lance Beggs Summary for Babon traders.pdf   1.3 MB | 16,348 downloads
Aggressive, High Risk, High Gain, High Accuracy
  • #8,489
  • Nov 22, 2016 6:52pm Nov 22, 2016 6:52pm
hi
I have downloaded the tma.mq4 from the BabonTemplatesIndicators.rar but when I compile it It comes up with 12 errors and 1 warning in lines 326 to 329.
can anyone please help? I really want to give this a go but am lacking a key ingredient.
  • #8,490
  • Nov 23, 2016 4:37am Nov 23, 2016 4:37am
anybody use the babon for 5min TF? I [personally tried the babon system following the rules and is quite successful but I don't wanna glue myself yo the computer for too long.

As such wanted to try using 5min or 15 min TF, and just started this week. Will try out for a month b4 posting my result.

peace!
  • #8,491
  • Nov 23, 2016 9:17am Nov 23, 2016 9:17am
Quoting fishbo81
hi I have downloaded the tma.mq4 from the BabonTemplatesIndicators.rar but when I compile it It comes up with 12 errors and 1 warning in lines 326 to 329. can anyone please help? I really want to give this a go but am lacking a key ingredient.
Hello fishbo,
Just check the paperclip above the thread (right corner), you can find there all the newest version of the indicators and other attachements

Quoting fistno
anybody use the babon for 5min TF? I [personally tried the babon system following the rules and is quite successful but I don't wanna glue myself yo the computer for too long. As such wanted to try using 5min or 15 min TF, and just started this week. Will try out for a month b4 posting my result. peace!
Hello fistno,
I do not think it will work on M5/M15 TF in long period of time, because you need very good move to catch any pips from setups like these, but of corse if you see any potential with these kind of trades, feel free to test it and share the results with us

Good luck and Regards,
Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #8,492
  • Nov 23, 2016 2:17pm Nov 23, 2016 2:17pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYproQuma_01.png Size: 91 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYproQuma_02.png Size: 77 KB
  • #8,493
  • Nov 23, 2016 2:18pm Nov 23, 2016 2:18pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYproQuma_03.png Size: 102 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYproQuma_04.png Size: 100 KB
  • #8,494
  • Nov 23, 2016 2:31pm Nov 23, 2016 2:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYproQuma_05.png Size: 94 KB
  • #8,495
  • Nov 23, 2016 2:36pm Nov 23, 2016 2:36pm
One can still make about 60+ pips in slow markets ........huh !
  • #8,496
  • Nov 23, 2016 2:37pm Nov 23, 2016 2:37pm
Making just 30 pips a day consistently is alot alot alot.......!!!
  • #8,497
  • Nov 24, 2016 12:51am Nov 24, 2016 12:51am
First off thanks to DNA and Favorite for this amazing thread,!

been studying it and downloaded the templates and indicators

but when I open the template on m1 and H1,

TMA is not showing and it seems the indicator just not working,

can anyone help me out on this one?

thanks in advance

note: currently using MT4 build 1010
  • #8,498
  • Nov 27, 2016 8:12am Nov 27, 2016 8:12am
Quoting 00789trader
First off thanks to DNA and Favorite for this amazing thread,! been studying it and downloaded the templates and indicators but when I open the template on m1 and H1, TMA is not showing and it seems the indicator just not working, can anyone help me out on this one? thanks in advance note: currently using MT4 build 1010
go to the paperclip at the top right of the thread click on it and download tma.ex4. pop that in your indicators folder and your good to go
  • #8,499
  • Dec 12, 2016 11:12am Dec 12, 2016 11:12am
Quoting panamamike
Still trading this method....but only trading TMA1 above/below the cloud. I trade mainly EJ and UJ .... EU is too narrow range for the most part....GU is ok, but not as smooth. UCAD is an excellent choice during NA session. By far the best pattern to trade IMO.
Hey panamamike, have a question for you about the TMA1 above/below the cloud: usually when the whole TMA crosses the cloud price is already very close to the TMA bands, a lot of times very close to even M5 outter TMA bands. Do you jump in right after the cross if the H1 looks good or you prefer waiting for price to retrace a bit inside the TMAs first? I know the distance to the bands is not part of the rules on the TMA above/below cloud but am curious to how you do it.

Appreciate your inputs.
  • #8,500
  • Dec 12, 2016 3:54pm Dec 12, 2016 3:54pm
Quoting papamax
{quote} Hey panamamike, have a question for you about the TMA1 above/below the cloud: usually when the whole TMA crosses the cloud price is already very close to the TMA bands, a lot of times very close to even M5 outter TMA bands. Do you jump in right after the cross if the H1 looks good or you prefer waiting for price to retrace a bit inside the TMAs first? I know the distance to the bands is not part of the rules on the TMA above/below cloud but am curious to how you do it. Appreciate your inputs.
 
Hey Papamax, I see your concern but for the most part I only trade that pattern from this system. It is pretty reliable. If you get in right as soon as it crosses then you should make a few pips at the least. You have to remember though, it was stated that you need you learn how to read plain price action in order to fully use this system. Here's anot example of how to read momentum with the pattern. Look at the angle of the price movement from the high going south or from the Low heading north. If it is small angle going more sideways it won't be as profitable a move but if it's a good angle down or up then your chances are higher. It's hard to explain with posting a picture but take a look at Lance Biggs price action books volume 2 and 3. He does a wonderful job explaining price action. The best availablemail IMO. Hope this helps.
Gentlemen always play by the rules, if they can't, they change them.
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