Hardcore Scalping Expertise

DarrO

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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% :p.
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 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 ;)

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

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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.
 

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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.

Details in attachements.
 

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WT* is Scalping ?

Sorry to be the idiot of this thread but what is scalping?

Scalping is a trading strategy used by forex traders to buy a currency pair and then to hold it for a short period of time in an attempt to make a profit. A forex scalper looks to make a large number of trades and earn a small profit each time.Scalping requires a lot of free time to sit before screen of PC and "hunt" for small trades ,rather tiring ,stressing and exhausting method. IMO its difficult to make profit longer than for 2-3 consecutive months.Than you need a 1-2 weeks holidays on Majorca or Bali to regain motivation and good mental health...:LOL:
 
28th day of project

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 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 , my home page http://comparic.com/gbpusd-triple-point-confluence/
 

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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 :

  • closed 20 trades which gave +28%
  • 19 won 1 lost
  • gained 258 pips
  • gained to balance +1000 PLN
  • added my account to signals service on *

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

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

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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.
 

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EURGBP - plan for this week ?
This time something different ,Inside Bar was drawn 2 days before on this pair and now we have another playable pattern. As seen on attached H1 chart of EURGBP – the pair drawn a Head & Shoulders pattern...
http://comparic.com/eurgbp-hs-pattern-h1-chart/
 

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38th 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 for February in 38th day of the project I should achieve balance 6498 PLN
Current balance at the end of the day is 6543 PLN
The surplus in relation to the plan 45 PLN.
Equity 6330 PLN
One opened trade on GBPUSD.

On GBPUSD is a interesting situation as described here :
http://comparic.com/trading-inside-bars-gbpusd-220217/
 

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40 th day of Hardcore Scalping Project

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
added to balance +1528 PLN

For this week I see GBPUSD returns to growth...
as on attached chart :
http://comparic.com/trading-price-action-patterns-gbpusd-270217/
 

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