I'm up 252%..... By simply using Price action on 1m

[Bobkat]

Hello… Well the answer is pretty simple. I use one MA line as my indicator for entry. Yet, I take the high/low of the first candle which touches the MA line. Then on the cross/recross of the high/low I take my position. Its really that simple. I’ve noticed if you simply use MA lines as your guide for entry. Your view of the market is much different. You basically have no bias at all towards any one position. You simply enter, and exit on a close over the MA high and low. Yet not every candle which touches the MA gets calculated. It has to be the first touch based on the last run which the currency had.

Hi,

What MA do you use?

Many thanks,

[bestpickrus]

Hi,

What MA do you use?

Many thanks,

Thats a secret. You’ll have to find your own MA and use the method I use. My hint to you is to use between MA 10 and ma 50

[bestpickrus]

The attached chart shows you how I calculate my high/low… Please look at the middle white line. That is the MA I use. Then look at the first candle which touched it. The high and low of that candle is marked with the poorly drawn blue circle. :22:

[monsterer]

@bestpickrus

The attached chart shows you how I calculate my high/low… Please look at the middle white line. That is the MA I use. Then look at the first candle which touched it. The high and low of that candle is marked with the poorly drawn blue circle. :22:

How do you determine when the end of the currency run is?

[bestpickrus]

How do you determine when the end of the currency run is?

I set a trail stop of 1.9 pips once I’m in the green more then 3 pips. I have an EA which automatically sets my trail stop to those settings during the last 5 seconds before every 1 min candle closes. Of course most times I miss out on a bigger move. Yet, the reality is because my equity is between 10 to 30 dollars per pip. I don’t aim for a big return. 3 to 5 pips just fine for me.

[ChristianGrey]

What happened February 8th lol… Pretty average performance curve on your myfxbook until then… What changed?

[bestpickrus]

What happened February 8th lol… Pretty average performance curve on your myfxbook until then… What changed?

I decided to go live with a method I tested for about 3 months on demo. If it worked on demo, it should work on live. So far it has gone well. I think the most important thing about trading is back testing, and staying true to your entries. That is the only reason why I’m able to pull off so many consecutive wins.

[ChristianGrey]

I decided to go live with a method I tested for about 3 months on demo. If it worked on demo, it should work on live. So far it has gone well. I think the most important thing about trading is back testing, and staying true to your entries. That is the only reason why I’m able to pull off so many consecutive wins.

Well I’ll be watching your progress … Keep it up man… Destroying the other methodologies that others are posting so far.

Psychologically it may become a challenge to not get caught up in protecting your wins and trade more cautiously … Depending on how long you’ve been trading, that may be more or less easier to deal with.

[bestpickrus]

Well I’ll be watching your progress … Keep it up man… Destroying the other methodologies that others are posting so far.

Psychologically it may become a challenge to not get caught up in protecting your wins and trade more cautiously … Depending on how long you’ve been trading, that may be more or less easier to deal with.

Thanks for the advice. I would have to admit that it is very tempting to not use larger lot sizes. Yet, because I’m banking on the reversal of my first entry. I kind of hold off on making the first order so large. Yet, if I can keep having 50 dollar profit trades, I should continue to do well. Especially considering that everytime i break 1k profit, I withdraw it all. So today I have requested a payout of 1310 Which has bee processed. So my account is back to 2k once again

[ChristianGrey]

Thanks for the advice. I would have to admit that it is very tempting to not use larger lot sizes. Yet, because I’m banking on the reversal of my first entry. I kind of hold off on making the first order so large. Yet, if I can keep having 50 dollar profit trades, I should continue to do well. Especially considering that everytime i break 1k profit, I withdraw it all. So today I have requested a payout of 1310 Which has bee processed. So my account is back to 2k once again

How is your broker’s execution…? Experiencing much slippage on your market orders?

[ClarkFX]

How much impact does the spread have on your trading? I would assume it would be tough to trade during times in the day where liquidity is low and spreads are higher.

And looking forward to explaining your strategy more. It’s interesting, although those lot sizes on that balance would scare me.

[ChristianGrey]

How much impact does the spread have on your trading? I would assume it would be tough to trade during times in the day where liquidity is low and spreads are higher.

And looking forward to explaining your strategy more. It’s interesting, although those lot sizes on that balance would scare me.

Big lot sizes but his stop losses are so small that its not a ton of risk… Gotta stay razor sharp on the discipline though.

The real test will come when he starts taking a few losses… If he can take the losses in stride and manage to trade steady then we’ve got ourselves an impressive scalper here.

[bestpickrus]

How is your broker’s execution…? Experiencing much slippage on your market orders?

ACTUALLY, no slippage or requotes. I wish the spread was lower but I have not found an ecn brokers as of yet.

[bestpickrus]

How much impact does the spread have on your trading? I would assume it would be tough to trade during times in the day where liquidity is low and spreads are higher.

And looking forward to explaining your strategy more. It’s interesting, although those lot sizes on that balance would scare me.

Well typically (when i dont pull my sl) my sl is 10 pips, with the spread of 2 already included. As I mentioned before I dont like my spread being so high, yet most brokers dont have less then 2 pips on eur/jpy

[PipNRoll]

Well typically (when i dont pull my sl) my sl is 10 pips, with the spread of 2 already included. As I mentioned before I dont like my spread being so high, yet most brokers dont have less then 2 pips on eur/jpy

I have not seen anybody scalp before. Good job on scalping.

I hope you don’t mind if I ask…I am curious how many currency pair do you scalp? or is it just for eur/jpy? and why this currency pair specifically and not other major pairs?

[ClarkFX]

Big lot sizes but his stop losses are so small that its not a ton of risk… Gotta stay razor sharp on the discipline though.

The real test will come when he starts taking a few losses… If he can take the losses in stride and manage to trade steady then we’ve got ourselves an impressive scalper here.

For now. We’ll see how long it can last. I’ve seen lots of scalpers come… and eventually go. That’s just my experience with scalping. Personally, I’m a fan of scalping and would love to, but I just can’t see any consistency with it. And I’d say I’ve lost more than gained when it comes to scalping.

Yikes 3.00 lot size, that’s ~$30/pip on an account less than $5K (at the moment). A few of those and there goes 10% of your account, but I guess that’s how you get the insane 400%+ ROI in such a short time. Unless I’m mistaken and this is a micro account.

On another topic, have you ever looked at scalping off of tick charts?

[bestpickrus]

I have not seen anybody scalp before. Good job on scalping.

I hope you don’t mind if I ask…I am curious how many currency pair do you scalp? or is it just for eur/jpy? and why this currency pair specifically and not other major pairs?

I only trade eur/jpy. Reason being because of the swift reversal which it has. Typically for every 1 pip eur/usd moves eur/jpy moves 3. For the most part the system will work with any system.

[bestpickrus]

For now. We’ll see how long it can last. I’ve seen lots of scalpers come… and eventually go. That’s just my experience with scalping. Personally, I’m a fan of scalping and would love to, but I just can’t see any consistency with it. And I’d say I’ve lost more than gained when it comes to scalping.

Yikes 3.00 lot size, that’s ~$30/pip on an account less than $5K (at the moment). A few of those and there goes 10% of your account, but I guess that’s how you get the insane 400%+ ROI in such a short time. Unless I’m mistaken and this is a micro account.

On another topic, have you ever looked at scalping off of tick charts?

I have never looked at scalping on tick charts. Yet tick charts would help me identify breakouts bit more carefully. Also note that I withdraw my weekly profit the second I gain over 1k profit. So the 1310 I have earned from Monday to today (wednesday night) I have withdrawn. That now brings my balance back to 2k usd…

[ClarkFX]

Perhaps taking a look at tick charts may help you with your scalping.

EURJPY 1M:

EURJPY 55T:

[bestpickrus]

Perhaps taking a look at tick charts may help you with your scalping.

EURJPY 1M:

EURJPY 55T:

Thanks for the information. My question is where can I get access to backtest tick charts? Is there a fee?