Hardcore Scalping Project

Hardcore Scalping Project

Main idea of this journal is to check how long I'm able to keep up to a plan created by a mathematical formula assuming that I make profit at level 1, 3 or 5% daily.
I made a chart in excel which shows planned results for those three variants.
It's a compound interest formula in which variables are :
-start date
-initial capital
-amount of lots for trade
-planned daily profit in %

The column "Pips" shows the amount of pips you need to get to achieve assumed daily profit.

What gave me this table?
I realized that earning only 4-5 pips a day, trading 0.1 lot at the capital 1000 PLN you can achieve growth rate of 22% per month. Because it is intended to be an experiment called "Hardcore Scalping" - I will try to trade according to column for 5%, hoping that I will keep pace for column 3% and probably ending at 1%
The project will end in case of reaching 10 000 PLN or loosing the whole capital.
I am aware that the project can end up with a disaster, that's why I risk a small amount ( 1000PLN=400 USD) , which will be a low price to pay for valuable experience in the Forex market.

The experiment began on December 29, with 1000 PLN transferred on brokers account.
According to the table (TradPlanJanuary.jpg) at the end of the month 27-01-2017 (20 days = 4 weeks of the experiment), depending on the expected growth in % daily I should achieve:
1% - 1220 PLN or 122% of the initial capital
3% - 1806 PLN or 181% "
5% - 2653 PLN or 265% "

Actual balance after 1 month (20 trading days =28-01-2017) is 3061 PLN as shown in printscreen from myfxbook .
It means that in first month plan was reached ,even exceeded by 400 PLN.
This surplus will be helpful in case of coming sooner or later losses
Most Setups which are used on this account are posted in this thread: http://www.forexfactory.com/showthread.php?t=632045 ,and detailed analysys everyday and night are posted here : http://comparic.com/
In this thread I will show only typical scalpers trades but due to method-(scalping is rather short period trade)- they will be posted after closing the trade perhaps 1-2 weekly.

I will make reports here every few days ,obligatory on weekends.

Actually trading AUDNZD

http://comparic.com/audnzd-awaiting-...-bar-breakout/

23th day of Hardcore Scalping Project

Today a short entry, a more detailed will be on Saturday.
I renewed Trading Plan for February bringing the final amount of the 20th day of experiment (2700 PLN) to the new month as the starting capital and I changed the average rate to 0.3 lot. At the end of the day after the FOMC statement due to lack of % rate hikes there was only little volatility and the condition of my experimental account "Hardcore Scalping Project" is just as on the screen 3115 PLN , to plan lacks 11 PLN.

Tuesday was lossy quite seriously, minus 400 PLN which amounted to -12%.
Today, worked off yesterday's losses and moved account to + 1.7% this week.
If I can keep the plan in 25th day of the experiment should reach 3446 PLN.

USDCAD- declines to continue ?

Observing chart H4 USD/CAD, we see that the price descends to lower and lower levels. Recently broke support, where the price reacted several times. It seems that the last resort before larger drops is a minimum of the last day of January, which probably is the closest target...
more here -http://comparic.com/analysis-beginners-usdcad-continuation-declines-likely/

Excellent work, but I don't understand. Do you use constant 0.1 LOT or do you increase it according to the balance. Is that true that you increase the PIPS also.

I day dream one day I can trade 10 LOT with only 10pips perday.

Quoting X.work

Disliked

Excellent work, but I don't understand. Do you use constant 0.1 LOT or do you increase it according to the balance. Is that true that you increase the PIPS also. I day dream one day I can trade 10 LOT with only 10pips perday.

Ignored

hello,
I change amount of lots after 20 trading days just to have an idea how much pips I need to make planed daily profit. The amount of lots is a maximum I risk in all open trades ,so if I have 3 trades open- I try to not exceed 0,3 what means 0,1 for each trade. Of course it is an approximate amount and sometimes I have more or less but not much differs from the planed 0.3.
As an example - if I manage to end according to plan on 20 day with amount 7000 than I change the table data - initial capital to 7000 and amount of lots to 0,7 and the results in table will change accordingly to new initial input. Today will be the 25 th day from beginning- so I'm in half of the trip to 10000

Trading Inside Bars NZDUSD
NZDUSD
On Daily chart of this pair we see interesting situation- during a strong bullish trend which started on 4Th January , we had three consecutive Inside Bar formations. The last one in which we are now was already broken out thru the top but both daily candles closed inside the IB drawing long upper shadows...

http://comparic.com/trading-inside-bars/

25 th day of Hardcore Scalping Project (the halfway point)

Time for a weekly summary
According to the table for February (next 20 days )on 25 th balance should be 3446.
The current state is 3613 (surplus of 167 ).
I have actually 3 trades opened that are currently in negative territory giving equity -173zł zł in relation to the plan.
So far, the fifth week of the project turned out to be the weakest (+ 18%) due to Tuesday's lossy orders for GBPUSD.

For new week planning to go long on AUDUSD and make some trades every pullback- shown here :

http://comparic.com/trading-inside-bars-audusd/

See you on Wednesday - I'll make mid-week report from my project.

NZDUSD- continued

So many false breakouts to the north...I went short, hoping for a nice decline (as on the attached chart)

and regarding EURUSD...here also can turn bearish...more about this pair : http://comparic.com/analysis-beginne...usd-time-drop/

I always thought your profile picture is a pig, it turns out to be a Cat. Well miaoww how do you do.

He,he ... the market sometimes is a pig do doubt... but my avatar is a smart cat - lurks for prey ...and gets it like a sniper (scalper)

28th day of Hardcore Scalping Project

Today, a short entry.

Started on 29 of December with Balance 1000 PLN ( all described in post no 1)
According to the plan ( attached in post no.3) for February in 28th day of the project I should achieve balance 3989 PLN
Current balance and equity at the end of the day is 4031 PLN
The surplus in relation to the plan 42 PLN.

I changed my strategy a little adjusting to the market situation, but about this and a report with detailed statistics of trades will prepare more over the weekend.

This week will focus on GBPUSD pair , http://comparic.com/gbpusd-triple-point-confluence/

AUDNZD- breakout from Inside Bar

http://comparic.com/trading-inside-bars-nzdusd/

(GBPUSD -http://comparic.com/gbpusd-triple-point-confluence/ opened 2 Buy trades...working very well )

30 th day of Hardcore Scalping Project

Time for a weekly summary:

According to the table for February (next 20 days ) on -10.02.17 - 30 th day of project balance should be 4398.
The current state is 4614 (surplus of 216 ).
This week :

1. closed 20 trades which gave +28%
2. 19 won 1 lost
3. gained 258 pips
4. gained to balance +1000 PLN
5. added my account to signals service on https://www.mql5.com/en/signals/256458#!tab=trading

Changed a bit strategy- taking less pips in trades due to uncertain politic situation,
- you can read about it here :http://comparic.com/currency-comment...long-politics/ .

All trades are based on my analysis posted on comparic.com mainly under this title "Trading Inside Bars"

AUDUSD

This scenario can happen in coming day(s).
At the moment to early to predict .
Will know more and be wiser after Monday opening, and than will revise my analysis.
If it will be necessary ( the update) I will post it here and on comparic.com
Have a nice weekend

35 th day of Hardcore Scalping Project

Time for a weekly summary:

According to the table for February (next 20 days ) on -17.02.17 - 35 th day of project balance should be 5613.
The current state is 5834 (surplus of 221 ).
I have open 4 trades which are on minus and give equity lower than planned -1417
This week :

closed 22 trades which gave +26%
21 won 1 lost
gained 186 pips
gained to balance +1220 PLN


Two pending orders on GBPUSD were opened while data publication from UK and were activated by a move up and touched by "wick" and than price started falling so in future must be more cautious with pending orders ,specially when price is very close to the order and we await some important macro data.

EURGBP- playable H@S pattern... http://comparic.com/eurgbp-hs-pattern-h1-chart/

USDJPY Close To Important Resistance, PUT Option : http://comparic.com/usdjpy-close-imp...ce-put-option/

AUDNZD - got out from Inside Bar and in the night retested upper limit of the IB...
http://comparic.com/audnzd-breakout-inside-bar/

40 th day of Hardcore Scalping Project

Time for a weekly summary: 8th week

According to the table for February (next 20 days ) on -24.02.17 - 40 th day of project balance should be 7164.
The current state is 7362 (surplus of 198 PLN ).
I have opened 2 trades which are on minus and give equity lower than planned -260 PLN
This week :

closed 19 trades which gave +27%
18 won 1 lost
gained 220 pips
gained to balance +1528 PLN

Plan for this week- buy GBPUSD http://comparic.com/trading-price-ac...gbpusd-270217/