Has anybody used this Manual Trading Strategy

[lucca123]

Today I thought not to trade too early in the morning....slept too long and missed the first nice entry at 7.30.
the rest of the day I wasn't everytime at my mt4 and missed really all good profx entries....anyway, I made some nice scalps in this choppy moves.


(Editing), after the big moves I made some scalps....
now the result of today is: +104pips

 

[davechilde]

(Editing), after the big moves I made some scalps....
now the result of today is: +104pips

Lucca

you've mentioned a couple of times now picking a few up from some scalping. Tell me, do you use ProFX in a smaller T/F for scalping, or is it another scalping technique?

If you do use ProFX I'd be very interested to learn what rules you apply, if indeed different from the 30M rules.

Many Thanks

 

[lucca123]

Hi Davechilde

First, I don't recommend scalping (I have to work at myself to really reduce it....) exspecially combined with higher lot amounts.
For adrenalinjunkies it is great, but for your account perhaps not.....this was the dead for a number of my trading accounts.....

But to answer your question:
yes I use m5 and m1 with profx templates to scalp. Entering after arrows and when profx05 begins to cross the 0 line .....and you have to adapt your profit targets.....
When you go through the m1 charts and look at the profx indicators you see a lot of opportunities to make pips (sometimes only 10 or 15, sometimes 40....)
The best an most dangerous time is after reports, then you can get a lot, and as fast as you get a lot you can loose a lot...;-)

I prefer the slower method of m30, it is much more relaxing.
And yesterday I decided to open a small $100 acount only for the shortterm scalps. In that way I let my main account run with the slow m30 trades and when I want to trade fast I use the small account.

 

[lucca123]

I think this thread is dead....I don't continue to post my results when I am the only person...doesn't make sense....

Have good trades and a lot of pips.....)

 

[wanelad]

Out of curiosity Lucca how have you been going of late, I would say now that there has been a break out in the Daily charts things may get easier from here

 

[Hittfeld]

Yeah, Lucca, I would also love to know how you finished May.

Regards from TG

Hittfeld

 

[Ingot54]

I think this thread is dead....I don't continue to post my results when I am the only person...doesn't make sense....

Have good trades and a lot of pips.....)

Hi Lucca

The thread is not dead - just quiet because of the difficult ranging period we have recently had in the markets.

There are still many of us "out here" who read, but do not contribute.

I want to thank you for your informative work - yes your hard work - in this thread. I enjoy reading of your frustrations and you wins - your discoveries and your fine-tuning.

The fact that you have managed to scalp - and managed to win with the 30M TF as designed - speaks volumes about the versatility of the method.

But I enjoyed reading because you have maintained your integrity, and posted the bad as well as the good, and this is what traders need - to see that yes, losses do occur, but they can be managed. And when the system gets back "on track" then the wins make up for the down periods.

So please do go ahead and continue posting your experiences - I for one will continue to read them, even when you think you are "talking to yourself". I apologise for not giving you some feedback on your work, but hope this makes up for it.

Best Wishes

Ivan

 

[wanelad]

I totally agree Ivan hope my post wasnt taken the wrong way, I have enjoyed the honest posts of Lucca

 

[lucca123]

Hi all....
I wasn't in the forum since my last post....
I will continue my posts, up and downs, hoping it will help others...

My may result isn't great, not because the markets or the profx system, no because of my very bad habit trying to recover losses with short scalps and high lot size.

Normally I traded 0.2 or 0.3 lots per trade, but in the short scalps I used up to 0.6.
Plus trading emotionally....very bad

After withdrawing some money as my 'salary' I had to reduce my lotsize again to 0.1.

To prevent my normal account from my scalping I opened another small account with $100. On this account I can play around with my scalping in M1, using the same profx rules as normal and trying to double, triple etc it with high risk lot sizes.
Todays profit: +28%.

On my normal account I began June with two great tp filled trades.

+ 125pips

I changed my rules slightly:
- only trading: EURUSD, EURJPY, GBPJPY
- using M15
- entering when all indikators are ok
- stoploss on the bullets of the profx01, trailing stoploss on these bullets
- most important: I let it run until stop or profittarget
- Targets: eurusd: 50pips, eurjpy and gbpjpy: 70pips
- When I got one target, I don't trade on the same pair again
- When I be stopped out, I take a second signal on the same pair and finish with it.

Good luck....

 

[wanelad]

Nice trades Lucca, how do you do those thumb nails?

 

[lucca123]

Nice trades Lucca, how do you do those thumb nails?

Yes these were nice, but today they were not nice....

Result: -186pips

All trades were stopped out, some very late some very high....anyway, I traded my rules and will continue in that way to get longterm results.
Tomorrow will be another tradingday....

Creating the screenshots:
- in mt4 rightclick on the chart, save as image
- in photoshop I enter the arrows and text, ready...

 

[wanelad]

Hi Lucca yes last night was a tough night once again

I note on the EUR/YEN trade that possibly you took an entry on the second blue arrow and got stopped out but cannot see the trigger for the stop as there is no down arrow, further it looks like the entry for this trade was taken before the arrow was there. Are you entering and exiting before the arrow becomes fixed? eg when it fades in and out. I am not sure when this.

The second trade on the EUR/JPY I was looking at the 30 min charts and far less choppy and if this time frame is when I think it was you would not have got stopped out but be in profit as we speak.

Once again I hope you dont mind my comments as not meant to be offensive rather so we can learn from each other.

When I was asking about the pictures I meant how do you paste them here as thumb nails? I use Flicker but not sure they have this function eg to host and make it a thumbnail

 

[lucca123]

Hi Lucca yes last night was a tough night once again

I note on the EUR/YEN trade that possibly you took an entry on the second blue arrow and got stopped out but cannot see the trigger for the stop as there is no down arrow, further it looks like the entry for this trade was taken before the arrow was there. Are you entering and exiting before the arrow becomes fixed? eg when it fades in and out. I am not sure when this.

The second trade on the EUR/JPY I was looking at the 30 min charts and far less choppy and if this time frame is when I think it was you would not have got stopped out but be in profit as we speak.

Once again I hope you dont mind my comments as not meant to be offensive rather so we can learn from each other.

When I was asking about the pictures I meant how do you paste them here as thumb nails? I use Flicker but not sure they have this function eg to host and make it a thumbnail

Hi Wanelad,

your comments are welcome...
Yesterday I couldn't check everytime my stops for that reason the eurjpy trade stop was a bit late.
Sometimes when moves are fast and I think movement will go on I jump into an arrow bar, risking that the arrow disappears again...

The thumbnails in this forum will be created automatically as soon you upload your normalsize pictures.

Happy trading....

 

[lucca123]

Nice report-moves today....

Results:
+ 123pips

I don't know why my gbpjpy trade was not stopped out. I set stoploss to 136.08 and the price went over 136.15....? good for me...:cheesy:

good luck for tomorrow and the heavy reports.....

 

[Hittfeld]

Hi lucca,
How many signals do you get on average per day/week and pair ( I am aware that you restrict the number of trades)? Furthermore I wonder if you ever used the e-mail function of openfx and if it is compliant and does work with swiss providers.

Thanks

Hittfeld

 

[lucca123]

Hi lucca,
How many signals do you get on average per day/week and pair ( I am aware that you restrict the number of trades)? Furthermore I wonder if you ever used the e-mail function of openfx and if it is compliant and does work with swiss providers.

Thanks

Hittfeld

Hi Hittfeld,

As you can see on my charts in M15 I get per pair per day about 2 arrows (except the choppy days like today).
For preventing me to be stopped out too many times per day I decided to do only a second trade after a stoploss. (the main rules of profx: only 1 trade per day) but I found that i could often recover from a first loss with a second trade.

I don't need the emailfunction (it works with every mailprovider), because when I am away I can check my trades on my iphone (via teamviewer) or my laptop.

Today I had only this morning time to trade, nice setups but all stopped out with small losses. I am satisfied because I could let them run till the end, without jumping out.

Result:
-44pips

I am out of the markets now, good luck to all this afternoon

 

[lucca123]

Next week I will start a 1 week live test with the M1 chart on my small scalp account. (the normal M15 trades I will continue on my regular account).

Target: Trading in M1 chart with the normal profx rules, profit target per day: +20pips
As soon as I got the 20pips I will stop for the day.
When I will be stopped out I continue until I reach the target.
I will post my M1 charts to show you, if I have reached the weekly 100pips.

 

[lucca123]

todays results:

-74pips

not really inspiring.....I didn't take the long trades in the morning because I only want to trade after arrow bars when profx06 crosses the 0 line.

My first M1 day wasn't bad, result in pips -25, but in $14, because I took sometimes 0.1 lot instead of 0.05.
I can't put the whole chart online, because it would be too long, but the most beautiful M1 trade I will upload. Perfect entry, perfect exit....

 

[Pipmaster1]

lucca123,

Hey I'm just curious what risk/reward ratio you are experiencing with this style of trading??

 

[lucca123]

lucca123,

Hey I'm just curious what risk/reward ratio you are experiencing with this style of trading??

Pipmaster1,
the r/r ratio after entering the trade in eurusd is about: 30:50 (30pips risk, 50pips profit), in eurjpy about 50:70.
As soon as the profx01 bullets change I trail the stop and the risk will be reduced.
In the last weeks I experienced very good results with the consequent trading of the rules....the problem of the losses was my behaviour with shortterm scalps and higher lotsizes.
But now I trade these M1 trades on my small 'scalpaccount' and trade on my normal account with the rules as strict as I can.
I would wonder if I will not be successful with that strategy within several weeks....but you will see it in my posts....

Do you trade profx live too?