A Simple Scalping Strategy - DailyFX

1broker copy guide - avoiding extreme losses

First off, let me state that I am not even close to a professional when it comes to trading. I got in a few months ago for passive income from copying 3.14fx and have come a long way since then, quadrupling my initial investment and losing half of it. I've watched traders such as cfdtrader, Lumyo, Robot, and crypto_chris lose several hundred percent after a fail from opening multiple positions. I got into 1broker to make money without monitoring it, but instead I learned a lot about trading and risk management, even profiting off several of my own trades. It's a valuable experience in itself even if you're not profiting and I wouldn't give it up for anything. If these losses are enough to make you quit, so be it. Investing comes with risks that some people can't handle. It's not free money.
https://www.dailyfx.com/calendar is the economic calendar that I use while trading. High importance events can easily trigger a 80% loss or gain depending on the direction you choose. It's highly risky to trade when someone of great importance such as Draghi or Yellen are speaking.
Even if you follow a general MAX 5% rule, you will still lose up to 16% of your account if somebody opens 4 of the same positions and they stop at 80%. Making back money is also tougher than losing it, as once you lose 16% of your account, 5% of your account is a lot less than before. Therefore, you have less capital per trade.
Also, be careful when changing your copy amount. I often see copiers saying things like "Great work, I'm upping my copy amount" and "Increased copy amount from x to x". In my opinion, increasing a copy amount should only be done when your initial amount is already low. Losses on a higher copy amount may wipe out the gains on a smaller copy amount. (-50% loss with 0.1 btc = +100% gains with 0.05 btc) Always stick to a 5% max rule unless you're feeling risky.
Then, there comes the gambling/greed phase that many new copiers often do. (Guilty of this myself). After extreme success, a copier may feel the need to upgrade their copy reward to maximize profit. Or after extreme failure, a copier may feel they need to upgrade their copy reward to make up for losses. All of these are mistakes.
1broker is not filled with market professionals. Most of us here are either self taught or complete novices. Professionals would not be sharing their trades for about $70-80 for each trade (at best). They won't be asking for copiers on other traders' profiles. They won't be using a Pikachu as their profile picture. They won't be using a broker that isn't heavily regulated and insured. They would be using their own capital to make millions off of trades.
Remember, any newbie can easily accumulate winning trades by gambling with high leverage. As long as they have around $1300 as of now, they can easily create a profile that suggests that they are a professional, when in reality they are entering at random points and exiting when a position turns into profit, rather than using technical analysis and watching economic calendars.
And even the best of traders will have their ups and downs. I've stuck with 3.14FX even when he reached -100% this month because he's had a great history on this site. I feel that he can make the money that he loses back. And even though he has doubled up on a position yesterday (not sure why, probably was extremely confident), it was a success.
Can you really trust anyone? No way! Unlike regular trading, 1broker is more unregulated. Signing up requires no personal information so any user with malicious intent can build up a steady reputation and perform an exit scam (or have a massive failure) without any reparations. Robot has no link to any social media or anything in his profile. For all we know, he could own another account that has -100%, and he is depending on luck while opening multiple positions to accumulate followers. (I just used Robot as an example, my intent is not to accuse him of multiple accounts)
Then there are potential exit scams (from a trader, not 1broker itself) that will drain a decent portion of your account. There's a reason why you have a choice to choose how many trades maximum you can copy per day. This hasn't happened yet, but it will definitely happen in the foreseeable future. Somebody will set up an order for 50 shorts and 50 longs and set the take profit and stop loss the opposite of each other. Then after closing, they'll withdraw their bitcoin never to be heard of again.
When you put your trust in a trader, you should trust them to carefully monitor a trade. Unfortunately, there's currently no way to tell if your copied trader is online or not, so you'll never know if they're in a coma and won't be back for another 6 months. My suggestion is to either take profit when you think that the conditions are correct or just trust the trader. Nobody can see the future. If you think that you'll rather close the trade before the weekend, it's your choice. If you think upcoming news will destroy the trade, feel free to close early. However, be prepared for regret if it goes up, or a great feeling that you dodged a bullet if it goes down. It's all a part of trading.
1broker's copy system is seriously flawed at the moment. Of course, there's no easy way to fix it. Why would a great trader want to share one of their trades if they're not getting much out of it? This encourages opening multiple positions to maximize copy rewards, which can result in massive losses. Robot is one of the traders exploiting this.
So how can you prevent massive losses? There's really no way. You're putting your trust in random people without an identity, who can easily be a scammer. When it comes to people like Robot, I put 1-2% of my funds because I know that he opens multiple positions. This is why I'm always sticking with 3.14FX, he established himself a long time ago and he knows what he is doing. Somebody who has been on the platform for over 3 years with several losses is preferable to an anonymous newcomer who just registered but appears to be good at trading.
Also, the percentage on 1broker is misleading. You may think "Wow, I'm going to get an 500% of my initial investment if I copy Lumyo!" In reality, you should only be using 5% max of your capital per trade. If you copied him from the beginning (I started copying at around 90%), you should have only gained 25% rather than 500%. But still, 25% of your initial investment is huge.

My opinion on several traders

vits2015: If you watched vits2015 from the beginning, you would know that their style of trading is... off. 15 positions on UK100, all short, some of them at -30% when I first saw him as a successful trader. What does that tell me about him? He can open up to 6 positions on the same trade at once, and is willing to hold them as long as possible to get a profit. (Average holding time 8 days)
gtfann: Even with recent losses, he still appears to be a decent trader. It seems that he upped his usual leverage due to the crowds of traders flocking to copy him though. Multiple positions with a lower leverage isn't really something that I like either, but I'm sticking with him for now until there's a drastic change.
vaiono: He lets his losses play out and even though he has a decent track record,it's still risky to play with. Silver is extremely volatile and due to leverage, a small move in any direction can either be a huge loss or huge gain.
Snortex: Pretty much a meme on 1broker. He acknowledges his trading style and warns his copiers. I like him as a person due to his warnings, but still wouldn't recommend copying him unless you can afford to lose a lot. Edit: After examination of his trades, I feel like he's not only gambling like his description suggests. His entries are planned out carefully (Although that has hurt him when there was a flash crash). You'll take several 80% losses but you may take several 400% gains. He seems to have a habit of chasing a trade, which can lead to multiple 80% losses. However, once the trend reverses, his profits go through the roof. When you're copying, copy for the long term! Of course, feel free to uncopy if you feel that the bottom is still far away.
noIDea: He has had bad stretches in the past, but still makes his way back. I think he's a good trader and even though he opens multiple positions, he's one of the best at setting stop losses so the risk is not as high as others who open multiple trades.
Gold_Gangsta: Name change from Crypto Chris for some reason? Be wary of multiple positions as the USDJPY fiasco shows. Seems to be doing fairly well with gold as of now.
1monk2: Multiple positions fairly often, even says that he's drunk in the description. This is gambling.
knightlife999: The description definitely shows promise. There is no proof to those claims on the site, but I feel it's safe to allocate some of your funds toward copying him with his track record.
HedgeCryFx Risk 5: Decent trader, pays attention to economic calendar as well. The only problem is that he lets losses play out to 80%
boogi: I would be wary about the higher losses, but then again, there's a good track record.
sergiomc: Seems to be decent at trading stocks. With an average holding time of 14 days and leverage of 10, you should be expecting to lose about ~3.92% of your gains to financing, which is not actually that much.
Cool Hand Luke: Low leverage trading. If you were to copy him, I would recommend only using 1% or 2% of your account max per trade if you plan on copying others as well. He's a great trader for slow steady gains, but if you're looking to get rich fast or go broke trying, this is not the guy for you.
eylemc: Quick trades with minimal profit and no losses so far. As of now, it may be too early to judge, but I think that he's somebody that might be worth copying. Edit: Seems to let losses play out to 80%. Be wary.
3.14fx: Back in the game, doing well with stocks and USDJPY recently. High leverage, but usually stops losses within a reasonable range.
SunnyNet: Small gains, huge losses. Be wary as your first copied trade could easily be a -80%.
SatoshiReport: Trading using a neural network, after looking deep into the trade history, I'm not so sure about it. Correct me if I am wrong, but the bot doesn't take into account important news and events. Edit: This bot has too many flaws to continue copying in my opinion. Even with the previous gains, it opens the same position as soon as one closes, negating the 33% stop loss AND forcing a loss due to the spread. The only thing that keeps it out of the negative is the rare 80% gains that you might find once in a while.
CryptoMessiah: The image being shown on his twitter has weird numbers on it (USDJPY at 100-103 in the matter of minutes), I think it's a simulator so it isn't actually "proved". Also, asking people to copy for "free money" is misleading as anything can go wrong in the forex market, there is no guaranteed money. I copied with a minimum 0.001 btc and will update this post if the bot proves to be successful. Edit: Tons of losses trying to get the right direction and then huge wins. I would say it's ok, but you're better off with a human capitalizing on gains. The only advantage to this bot is 24/7 hour trading.
kosanet: His description says it all. Be careful while copying, but don't be discouraged to place an amount you can afford to lose. He seems to have a great history of monitoring losses (positions never get below 20%) but it's still a new profile who clearly states that he's not a pro. May open multiple trades and trading with USDJPY a lot. His scalping strategy means that overnight fees won't be an issue. Edit: Now he's starting to be a little more risky with his trades as more copiers arrive. Be careful, he never reached liquidation at 80% yet but he could at any moment.
google: A bit late to the party, but what can I say? I honestly can't believe he accumulated 190 copiers but he seems to have faded out quickly. Golgo13 is having a fun time on all of his trades
KillerWhale: Extremely high risk with all of those multiple positions. Like google and robot, don't be fooled by performance recently and look through their whole account. People who saw the 220% recently may have missed when he was in -475% a few days ago.
SoontobeWW3: Great trader in my opinion. However, I think emotion plays a role in his trading as every huge loss is often followed by more.
APPoh: Seems to know what he's doing. However, there is a very short trading history and we're never sure. Positions can reach 50% without closing, so it's very possible that he might let losses play out to 80%.
dingo: Not much to say. Good with 1 position at a time, and even with the 80% loss last month, still ended in profit. Be careful as he might sometimes not stop a position and instead wait for it to recover and a 80% loss is huge compared to his gains.
Edit August 12: Will stop adding new traders now. Before copying someone, remember:
  1. Check their trading history, ALL OF IT. You're entrusting them with your money, you should be 100% sure.
  2. Wait until they've established themselves. Sure, you can be frustrated about potentially losing 200% profit, but it sure beats 700% losses.
I already expressed my views on Robot and 3.14FX above. Lumyo is currently inactive.
Last tip: Don't uncopy people if you feel like they can make it back. If you choose to copy someone, you're in it for the long run. Now this may contradict some of my earlier statements, but if you have somebody that you believe in, don't uncopy them after a loss. Eventually, they will make their way back up and after you see their success again, you'll be tempted to copy again. Of course, if you are copying somebody who you have no faith in, feel free to drop them. Cutting your losses short is important to learn in trading.
submitted by FCatarina to 1Broker [link] [comments]

James Stanley's "Fingertrap" Scalping Strategy (also good for longer term trading)

I posted this elsewhere a while back, but I thought I'd put it in /forex and not on the blog, because it's my absolute favourite tool in all of Forexland.
James Stanley is a (very good) trader and educator at DailyFX (Twitter: @JStanleyFX). He's also very friendly and helpful on Twitter if you have serious questions.
Here's the link to the original article but what I'm going to do is explain it in a little more detail, show you how James uses it, and then explain how I use it for finding entries on longer term trades and breakouts.
There's also this helpful video you can watch: http://www.youtube.com/watch?v=RrxOiAhIlaQ
Right, so before I explain what it is, here's a checklist for WHEN the Fingertrap strategy is effective:
If the answer to all those questions is yes, you're ready to go:
1: switch to an hourly or 2hr chart, so you can see what movement on the day is like. You should be able to spot a strong directional bias if there is one, and you may have already done analysis to find important support and resistance.
2: Add two indicators: an 8 period EMA (Exponential Moving Average) and a 34 period EMA. I don't know why those numbers, and different combinations might work better on different pairs (EUJPY tends to throw a lot of false signals with this, as does gold, so it's worth experimenting). We use EMAs and not SMAs because they respond more quickly. Here I'm looking at EUJPY on 2hr chart, on 26 April 2013):
http://i.imgur.com/9wqd36U.png
3: Is price clearly above or below BOTH moving averages (eg. it's a downtrend and price is below both, or an uptrend and it's above) AND has the 8 EMA crossed over the 34 EMA (crossed to the downside if you're looking at a downtrend). These two factors are a strong confirmation of a trend, if you need one.
4: Once you have confirmed that a trend is in place, switch to your preferred scalping timeframe. I usually use 5m or 1m charts. You'll now see that the 8EMA (which is the only one we're looking at from now on) hugs the price quite closely.
5: If we're in a downtrend, what we are looking for is for price to ideally break through some kind of support, and then to rebound to the 8EMA. It can push through it, even close a whole candle above it, but should eventually move back down below it.
This is your signal to enter short. As you can see from the chart below (same time, 5m chart), it's essential that you determine that there is a trend first and not just some jumping around.
http://i.imgur.com/pvjgeKg.png
6: The idea is to use relatively small trade sizes, and scale in and out of the trade rapidly. When price extends quite a bit away from the 8EMA, that's the time to take partial profits, wait for a rebound to the 8EMA, and then enter again.
7: The game ends when the 8EMA crosses the 34EMA again, and price is on the other side of both of them
The idea is that, even with strong moves, there are quick pullbacks. This strategy helps to give you an edge in determining where those pullbacks are likely to stop. It's not perfect, but no strategy is. The point is that it gives you a higher probability of entering at a good time (buying relatively low, or selling relatively high), and it also means you can have a lower risk entry (being closer to the last swing high).
Now, I don't get to do a lot of scalping because I have a day job, but I do use this for breakouts, and just any regular old entry as a matter of habit (unless I'm doing a fairly long term trade and 10 pips either way doesn't matter that much to me).
What I will do is wait for a breakout or a strong move in the direction I want. Then I put my Fingertrap template on, and wait for price to "reload" to the moving average before getting in, placing my stop above a nearby swing high. My stop will always be placed while thinking about how long I plan to hold the trade. If I'm looking for a move in GBP/USD from 1.56 down to 1.50, I'm not going to place my stop above the nearby swing high on the 5m chart - I'm going to place it around 1.5650. So you have to use your discretion obviously.
For example, I will be watching EUUSD very closely for a break of 1.3000 or 1.2950, and then employ it from there.
For scalping, the nearby swing high is definitely a good place to put it - if the trade goes that badly away from you, you definitely want to be out.
Give it a try, and let me know if you find it to be helpful! Let me know if you have any questions.
submitted by NormanConquest to Forex [link] [comments]

SIMPLE and PROFITABLE Forex Scalping Strategy! - YouTube Forex Scalping Strategy Course – Step by Step Guide In ... FAST FOREX SCALPING Trading Strategy  LIVE Trades ... The Best/Simplest Forex Scalping Strategy/Method 2020 ... BEST PROFITABLESimple Forex Scalping Strategies and Techniques

Eine einfache CCI Strategie für Scalper. “Pharma executives have pushed back against what they have described as the politicisation of the vaccine development process and alleged pressure from ... 24# Trading Scalping on the Daily Bar - Forex Strategies - Forex ... 52# Daily FX - Forex Strategies - Forex Resources - Forex Trading. 175# 10 pips - Forex Strategies - Forex Resources - Forex Trading. 194# Daily Scalping - Forex Strategies - Forex Resources - Forex. 213# Daily Forex Signal - Forex Strategies - Forex Resources ... If you have the time to look at the chart… do the following:LongEnter the trade when the 5-minute bar penetrates and close higher than the Resistance level.ShortEnter the trade when the 5-minute bar penetrates and close lower than the Support level. Most forex scalping strategies work on the principle of volume which states that changes in volume are almost immediately followed by price action. Needless to say, this scalping strategy is heavily dependant on the use of volume indicators to be able to function properly. The strategy works by looking at the volume levels. If it is low, then ... Creating a Forex trading strategy does not have to be a difficult process. Today we will review a simple scalping strategy using the Stochastics indicator. Home » Best SCALPER Indicator » dailyfx scalping strategy - Forex scalping strategy 2015 # udilisavu.web.fc2.com 6. Forex Scalping Strategy. Scalping in forex is a common term used to describe the process of taking small profits on a frequent basis. This is achieved by opening and closing multiple positions ... Forex Scalping is a trading style that specializes in making money off tiny rate changes, generally after a trade is executed as well as ends up being profitable. Having the right devices such as an online feed, a direct-access broker as well as the stamina to position lots of trades is needed for this technique to be effective. Registrieren Sie sich hier, um Ihre Forex Lernen jetzt fortzusetzen DailyFX bietet Forex News und technische Analyse über die Trends, die die globalen Währungsmärkte beeinflussen. Forex Scalping Eingereicht von Edward Revy am April 22, 2007 - 09:28. Forex Scalping kann auch als ein schneller Handel. Es ist eine Methode, in der Händler ihre Positionen nur für eine Angelegenheit von ... Friday, 23 June 2017. Dailyfx Scalping Strategie In Forex

[index] [22981] [26510] [27758] [13677] [18765] [29433] [23167] [15253] [5894] [4154]

SIMPLE and PROFITABLE Forex Scalping Strategy! - YouTube

My new forex scalping strategy course. In this course I will teach you step by step the personal strategy that I use in how to scalp the forex market. https:... Learn our Other Scalping Strategy: https://bit.ly/2xol8aS In this video, I will walk you through a simple forex scalping strategy I've been using successfull... Follow me on Instagram for Live Trades and Results: https://www.instagram.com/everything.presidential/ Awesome Oscillator + Moving Average Strategy: https://... BEST PROFITABLESimple Forex Scalping Strategies and Techniques forex,forexsignals,trading,room,forex trading,dailyfx,currency trading,forex market,technical analysis ... One of the Best Forex Scalping Strategy approaches Ive seen in a while. Easy for beginners to master and highly accurate. Great 1 minute Scalping Trading Str...

https://arab-binary-option.bumdowmbapes.tk