PMT Forum
How do you want to make money today?

Quick Buck Strategy

sam_1_els · 18 · 6584

sam_1_els

  • sam_1_else
  • Forum Master 400
  • ***
    • Posts: 459
    • Likes Received: +0/-0
on: Feb 06, 2008, 09:17 AM
   Who wants to have these kind of trade results? 48 straight winning trades without a loss (but soon will... believe me, lolz).




   The above screenshot is from one of my live accounts. well... not exactly mine, isa sa mga managed accounts ko. Yung withdrawal na $580.81 sa last row (color gray) will prove that this is a live account, sa demo account kasi you can't withdraw.

Ok, cut the bull... umpisahan na natin:
The strategy I'm about to share is consist of scalping and straddle technique. POOR money management. This strategy is not my own invention, nakita ko lang sa forexfactory na binabatikos dahil walang money management. Kaya I tweaked it, put stop loss and discretionary enter/exit point. Wala akong maisip na ipapangalan so "quick buck" muna.

- We need a volatile pair for this kaya GBP/JPY pinili ko. I think pwede rin EUR/JPY pero haven't tried it yet.
- "simultaneously" open 1 buy and 1 sell positions.
- set it with 5pips TP
- and 300pips SL. or the 2nd resistance/support level from the current price. Which ever is smaller.. use it.

That's it. and for more advance:
- When the current trend is up. Start with a sell position first before the buy position. Vice-versa for down trending.
- 1 hour prior any major news announcement, Don't open any positions.
- If price is trending near the end of a triangular wedge. Don't trade and wait for the breakout before entering.
- One position will surely closed in a profit first. And the remaining open position, if it is against the current trend direction. This is where the self-discretionary coming in. You might want to cut loss or just leave it as it is. Sometimes, i will takes hours and even days bago mag close in profit yung last position. But, most of the time, a few minutes lang.
- After a set of trade. Wait for a perfect time again bago pumasok.

This will be great kung gagamitan ng script or EA, Para di mahirap mag-open ng 2 positions na magkasunod.

Worst case scenario:
 If 300pips SL is hit. You lose $267.9 for 1 lot position on a mini account. Kaya $267.9, kasi GBP/JPY 1pip move is $0.94, times 300pips SL, minus 10pips spread, minus the 5pips gain of the opposite trade. That's why I said POOR money management.

 Kaya adjust your lot size accordingly. My suggestion would be, for every 10k account, use 1 mini lot on both buy and sell positions. For 5k account, use 0.5 mini lot.

Ok, just like any other strategies, may losing trade din ito and loss might be greater than your gains if you're not careful picking trades. Demo trade it first and trade at your own risk. Good luck.
« Last Edit: Feb 06, 2008, 09:22 AM by sam_1_els »


peterp

  • Junior Member
  • **
    • Posts: 48
    • Likes Received: +0/-0
Reply #1 on: Feb 06, 2008, 01:07 PM
IDOL!  :applause: :rakenrol: :yoohoo:


Lightwind_99

  • PMT Idol 1500
  • ****
    • Posts: 1,512
    • Likes Received: +1/-0
Reply #2 on: Feb 06, 2008, 01:52 PM
Very Risky...poor money management is a big problem...


peterp

  • Junior Member
  • **
    • Posts: 48
    • Likes Received: +0/-0
Reply #3 on: Feb 07, 2008, 10:54 PM
sorry now ko lang nabasa in full ng matino yung stategy.  IDOL kse mukhang trading strategy ni Robin Padilla 'to.  hehe. pero seriiously, it looks like it might work for ranging.


sam_1_els

  • sam_1_else
  • Forum Master 400
  • ***
    • Posts: 459
    • Likes Received: +0/-0
Reply #4 on: Feb 08, 2008, 07:16 AM
yea, poor money management is a big problem. But there are ways to counter it.

1. Cut losses if you must. example, if you gain $100 the past few days and you think something is not right, close mo yung position pag negative $80 na. And still, gain pa rin ng $20. Napansin ko lang, karamihan ng beginners ayaw nilang isoli yung profits nila.

2. You may also place more number of lots sa reverse direction to off-set the losing position and close it kahit breakeven. Discretion needed.

3. You may just open one side position kung alam mo talaga yung trend ng next higher timeframe. And just grab five 5pips from it.

Ginamit ko yung options 2 and 3 today. Post ko screenshots pag may time ako.

Yes, it works for ranging conditions. And the good thing is, if you zoom in gbp/jpy 5M timeframe, it is ranging.

Really not advisable for novice. Too risky. Not a set and forget type of strategy.  

 


sam_1_els

  • sam_1_else
  • Forum Master 400
  • ***
    • Posts: 459
    • Likes Received: +0/-0
Reply #5 on: Feb 14, 2008, 03:56 PM
as promised. Ito yung karugtong nung screenshots sa first post. Statement on first post ended Feb. 5 at 23:05 GMT. Yung screenshots sa baba, I highlight the Feb. 5 in blue to show a continuation from there. And the last position closed is dated Feb. 14, which is today. BTW, happy Valentine's sa lahat.



70 trades. 68 in profit and 2 loss.

I know it sounds stupid if you'll just open both long and short positions and just hope the volatility of GBP/JPY will swing 30pips within your positions, di ba? But the point is may posibility. And if may alam kayo sa basic like identifying trend, counting pips value, then the odds on winning will be higher.

By identifying trend, you can just go in one direction. And counting pips value, you can use a semi martingale approach if trend went against doon sa natitirang position. Just like what happend sa last few trades sa screenshot.

« Last Edit: Feb 14, 2008, 06:38 PM by sam_1_els »


ghiby

  • Forum Master 300
  • ***
    • Posts: 305
    • Likes Received: +0/-0
Reply #6 on: Feb 15, 2008, 02:20 AM
« Last Edit: Feb 15, 2008, 02:24 AM by ghiby »


tutoy

  • Forum Master 400
  • ***
    • Posts: 467
    • Likes Received: +0/-0
Reply #7 on: Feb 15, 2008, 01:41 PM

sana may screenshot din ng current open positions??


Mike QC

  • Mover and Shaker
  • PMT Idol 1000
  • ****
    • Posts: 1,006
    • Likes Received: +0/-0
Reply #8 on: Feb 16, 2008, 04:59 PM
Sam, thanks for sharing this nice strategy. I personally tinkered with it and grabbed some nice pips. It's indeed good but a very risky one and definitely not for everyone. Kelangan lang talaga nakatutok ka sa strategy na ito. I have to admit that it's not even for me as I am the type of person who refuse to be glued to the computer screen as I always make sure that I have more time to enjoy my life....my family hehe.  Anyway, try it guys for about 3 or more months and see if you can be a consistent winner. We all very well know that we're always after the consistency in the long term with the least possible time spent on the computer and NOT just short term gains. Moderate the greed haha.  
« Last Edit: Feb 18, 2008, 10:28 PM by Mike QC »


tutoy

  • Forum Master 400
  • ***
    • Posts: 467
    • Likes Received: +0/-0
Reply #9 on: Feb 18, 2008, 09:49 PM


when the withrawal done?? :scratch:

i use this strategies also its pretty good, please favor to show the complete trading transactioned and i would like it to review tru backtest from the date you deposited up to current date in cluding the open position.

as far as i know the withdrawal transactiond appearead also on statement of account..siguro nalimutan m,o lang. :hihi:


suredollars

  • Forum Master 300
  • ***
    • Posts: 394
    • Likes Received: +0/-0
Reply #10 on: Feb 19, 2008, 12:58 AM
moderate the greed??? mukahng kilala ko yun ah?  :hihi:
by the way, may ask if anong "platform" ( tama ba yun spelling at yun term) na gmit nyo ksi sa akin puro practice accoutns lng pro ok naman, fxcm at marketiva, any other suggestion n pwede ko malaman.. tnks..


suredollars

  • Forum Master 300
  • ***
    • Posts: 394
    • Likes Received: +0/-0
Reply #11 on: Feb 25, 2008, 09:08 PM
mr sam:

ano po plat form gamit nyo?


bigcheese

  • Probie
  • **
    • Posts: 14
    • Likes Received: +0/-0
Reply #12 on: Apr 11, 2008, 07:49 AM
sir sam_1_els,

Baka  po pwede malaman ano platform na gamit nyo?
I've used this strategy in my Marketiva live account, got 24 straight winning trades.
However, Marketiva only allows minimum of 7 target TP and SL. Mas easier to reach the targets sana kung mai-set sa 5 ang TP....thanks :)


Lightwind_99

  • PMT Idol 1500
  • ****
    • Posts: 1,512
    • Likes Received: +1/-0
Reply #13 on: Apr 11, 2008, 10:05 AM
i think he is using MT4


anghelita

  • Banned
  • *
    • Posts: 267
    • Likes Received: +0/-0
Reply #14 on: Apr 12, 2008, 12:12 AM
i think ganito rin strategy ko.. heheh as long as lumampas ng 8 pips i wait a while kung patuloy pa sha in my direction, and right before i close kuha muna ako for the opposite direction and so far okay naman.. it works for me on marketiva, as long as i follow their rules about short term trading, okay naman. and it really works best pag nakatutok ka talaga parati like Mike QC said..

i downloaded mt4 para makapagpraktis sana, kaya lang i still don't understand it...  :hihi:



 


PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • roselove: hello po sa inyo... newbie here
    Aug 06, 2019, 03:31 PM
  • Niel Jhacoubs: Sino palaging active dito?
    Jul 30, 2019, 04:15 PM
  • dagocjasonrey: Anong update dito?
    Jul 22, 2019, 08:49 PM
  • mark_Lee: anong bago dito
    Jun 28, 2019, 01:03 AM
  • mark_Lee: balita
    Jun 28, 2019, 01:03 AM
  • Lovelyprincess72: hi everyone , I'm newbie here
    Jun 27, 2019, 02:36 PM
  • Niel Jhacoubs: Musta?
    Jun 26, 2019, 01:43 PM
  • Forexanalysis: Hello
    Jun 25, 2019, 06:33 PM
  • Niel Jhacoubs: Hello sa mga online jan! :)
    Jun 15, 2019, 02:58 PM
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM
  • sniperaj09: BAGO LANG
    Mar 10, 2019, 11:16 AM
  • mark_Lee: magandang investnent ngayon sa 30k suggest naman keo mga boss
    Mar 10, 2019, 03:07 AM
  • perlymelad: E-BOOK PO SIR @JEFSANITY
    Mar 09, 2019, 05:40 PM
  • perlymelad: @jefsanity Good Morning Po
    Mar 09, 2019, 05:39 PM
  • perlymelad: Good Day everyone
    Mar 04, 2019, 06:24 PM
  • jefsanity: anu ang small business na yan?
    Feb 28, 2019, 07:40 PM
  • perlymelad: Good Day Everyone
    Feb 28, 2019, 03:31 PM
  • perlymelad: Hello everyone, CAN ANYONE HELP ME SUGGEST ANY SIDE TOPIC  / PROBLEM OF  STARTING SMALL BUSINESS?
    Feb 28, 2019, 06:58 AM
  • perlymelad: Present, 1st time po
    Feb 25, 2019, 06:17 PM
  • jd2281: newbie po
    Feb 25, 2019, 12:26 PM
  • ejllantino: present... 1st time
    Feb 24, 2019, 07:14 PM
  • rheiel: present. first time
    Feb 24, 2019, 11:04 AM
  • MELVIE: thanks po
    Feb 24, 2019, 12:50 AM
  • steph123: hello po, ask lang po, ilang months po ba ang hihintayin after mo ma process ang mga documents para maitama ang mali sa NSO?
    Feb 11, 2019, 03:13 PM
  • Deborah: newbie here.thanks
    Feb 08, 2019, 02:17 PM
  • marj0503: hello im newbie here
    Jan 31, 2019, 10:53 AM
  • yan24: any one here planning to start a tesda skill training center
    Jan 26, 2019, 12:07 PM
  • manzjon: Forex trading forum
    Jan 25, 2019, 02:16 PM