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[TraderABC]

I am reposting this.

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On Russian forums there is this trading legend, a scalper who claims to be able to increase deposit 10% per day!!!

I was testing it and sometimes it DOES make good results, but since I live in mountain time zone, the system is tough...
I feel too sleepy and I was unable to test it long enough... But I did have awesome pip gains, it was one of the best systems I ever tried (except for the tough time and the fact that this is scalping).

I would like to see the kind of result people can get... Test it on a demo. I am curious, is this for real? And please post the results here.

Here is rough translation, summarization:
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Trading pairs:fficeffice" />>>

GBP/USD, EUR/JPY (or USD/JPY depending on situation), USD/CAD, USD/CHF; >>

>>

Indicator Groups:

№1 USD/CHF, USD/CAD;
№2 EUR/USD, GBP/USD;
№ 3 EUR/JPY, USD/JPY.

IF 1^st group is moving in one direction and 2^nd in the opposite, then we know USD tendency. If both pairs in group #3 are moving in one direction, then we know the JPY tendency.>>

>>

Only trade pairs whose channel is 50 pips . (One channel of asian flat, another one before NY)

Best volatility, time to trade:
2:15-5:30am EST
8-11:30am EST

You can enter other pairs (especially Swiss, sometimes GBP, maybe even Cad which also shows where euro should go) even if their daily range <50 pips, as long as Euro broke its daily H or L and is moving.

>>
Enter on the breakout of current channel from tick charts through stop orders only.

Example if Group 1 is growing, consider buyng USD/CHF,USD/Cad and only shorting gbp/usd. If EUR/JPY, USD/JPY and EUR/USD both move in one direction enter on EUR/JPY. IF group N1 goes in one direction and N2 in another, enter on usd/jpy only in the direction of group #1.

For London session the channel is daily high-daily low.

For New York, it is the channel for the past 10min-4hours depending on market volatility. If the market is not volatile the channel is usually from past 30 minutes, if it was volatile than the channel is build for the past 10 minutes.

IF few pairs are going in appropriate direction, then the tendency may be for an hour. If all six pairs move in appropriate directions, then the tendency may be for the whole day.

CAD really starts to move only in US Session. Cad is good in the fact that if it breaks daily extreme at 6:30EST, then it will trend to 6:15-6:25ESR (if news) and to 7:15am EST if there aren’t news in the US session
>>
Money management:

Enter on breaking of daily extreme per pair:

Euro group 1/32 + 1/4 + 1/32(1/16) + ...
Yen group,Usd/Cad 1/32 + 1/8 + 1/32(1/16) + ...
Enter from local extremum for all 1/32 + 1/16 + 1/8 + 1/32(1/16) +...>>


your initial entry is 1/32 * 4(or5 or less) pairs = 12.5% of deposit.
Then pyramid for euro,swiss 1/4 or 1/8 for Yen and Cad.

Pyramid positions every constant number of pips (ex 20pips) only for the pairs that are moving, don’t add to those pairs that are barely moving.>>
Paramon says that he does 10-20 orders per day.

Stop loss:
Initially 1 pip below the current daily candle (which could be 50+ pips). Then moved to the start of the move or (Daily High – Dailylow) /2 . If multiple currency pairs suddenly start breaking the Daily Middle (H-L/2) then enter.

Set ultra short stop loss during important times:

2:00, 2:30,3-3:15, 4-4:15, 5-5:30, 7-7:15, 10-10:15, 11-11:30am EST.

Also exit if the position freezes for 15 minutes.
On Friday close by 11am.>>

Take profit:
trailing stop of (10-30 pips). Or behind recent extreme (using dow theory). Also if group tendency changes then exit. Orders are modified every 5 minutes and constantly during news time.

Some days the guy makes 100-300 pips PER DAY.

Some random statements: MSK time.

--- some random results ---

01.07.04 10:35 06.07.04 USD/CHF 15 000.00 USD 1.2535 Forex 2 744 906
01.07.04 11:07 06.07.04 GBP/USD -8 000.00 GBP 1.8155 Forex 2 744 976
01.07.04 12:00 06.07.04 GBP/USD -8 000.00 GBP 1.8135 Forex 2 745 044
01.07.04 12:08 06.07.04 GBP/USD -16 000.00 GBP 1.8125 Forex 2 745 061
01.07.04 12:09 06.07.04 USD/CHF 15 000.00 USD 1.2555 Forex 2 745 063
01.07.04 12:11 06.07.04 GBP/USD 32 000.00 GBP 1.8125 Forex 2 745 069
01.07.04 12:12 06.07.04 USD/CHF -30 000.00 USD 1.2561 Forex 2 745 071

Swiss +26
Pound +30

Total +56

02.07.04 16:30 07.07.04 USD/CAD -18 000.00 USD 1.3295 Forex 2 748 884
02.07.04 16:30 07.07.04 USD/CHF -18 000.00 USD 1.2460 Forex 2 748 904
02.07.04 16:30 07.07.04 GBP/USD 10 000.00 GBP 1.8215 Forex 2 748 939
02.07.04 16:31 07.07.04 USD/JPY -18 000.00 USD 108.35 Forex 2 748 986
02.07.04 16:33 07.07.04 USD/CHF 18 000.00 USD 1.2425 Forex 2 749 020
02.07.04 16:35 07.07.04 GBP/USD -10 000.00 GBP 1.8287 Forex 2 749 063
02.07.04 16:36 07.07.04 USD/JPY 18 000.00 USD 108.35 Forex 2 749 080
02.07.04 16:37 06.07.04 EUR/JPY 15 000.00 EUR 133.05 Forex 2 749 089
02.07.04 16:37 07.07.04 USD/CAD 18 000.00 USD 1.3269 Forex 2 749 098
02.07.04 16:38 06.07.04 EUR/JPY -15 000.00 EUR 132.85 Forex 2 749 104

Swiss +35
Pound +72
Canadian +26
Еur/Jpy -20
total +113 (113 pip per day with almost maxed out lots... )


04.01.05 11:09 06.01.05 USD/CAD 44 000.00 USD 1.2095 Forex 3 442 349
04.01.05 11:10 06.01.05 GBP/USD -23 000.00 GBP 1.9025 Forex 3 442 352
04.01.05 11:25 06.01.05 USD/CHF 44 000.00 USD 1.1490 Forex 3 442 375
04.01.05 11:31 06.01.05 USD/CHF 44 000.00 USD 1.1510 Forex 3 442 431
04.01.05 12:22 06.01.05 USD/CAD 44 000.00 USD 1.2115 Forex 3 442 600
04.01.05 12:24 06.01.05 USD/CHF 88 000.00 USD 1.1530 Forex 3 442 618
04.01.05 12:30 06.01.05 GBP/USD -23 000.00 GBP 1.8995 Forex 3 442 665
04.01.05 12:38 06.01.05 GBP/USD -46 000.00 GBP 1.8965 Forex 3 442 769
04.01.05 12:40 06.01.05 USD/CHF 176 000.00 USD 1.1550 Forex 3 442 788
04.01.05 12:41 06.01.05 USD/CAD 88 000.00 USD 1.2135 Forex 3 442 798
04.01.05 12:54 06.01.05 USD/CAD -176 000.00 USD 1.2125 Forex 3 442 839
04.01.05 12:55 06.01.05 USD/CHF -352 000.00 USD 1.1548 Forex 3 442 841
04.01.05 12:55 06.01.05 GBP/USD 92 000.00 GBP 1.8975 Forex 3 442 842
04.01.05 12:58 06.01.05 USD/CAD 48 000.00 USD 1.2135 Forex 3 442 910
04.01.05 13:03 06.01.05 GBP/USD -25 000.00 GBP 1.8950 Forex 3 442 954
04.01.05 13:22 06.01.05 USD/CAD 48 000.00 USD 1.2155 Forex 3 443 076
04.01.05 13:33 06.01.05 USD/CAD -96 000.00 USD 1.2135 Forex 3 443 134
04.01.05 13:35 06.01.05 GBP/USD 25 000.00 GBP 1.8957 Forex 3 443 151
04.01.05 15:10 06.01.05 USD/CHF 94 000.00 USD 1.1580 Forex 3 443 342
04.01.05 15:16 06.01.05 GBP/USD -50 000.00 GBP 1.8930 Forex 3 443 354
04.01.05 15:33 06.01.05 GBP/USD 50 000.00 GBP 1.8927 Forex 3 443 442
04.01.05 15:33 06.01.05 USD/CHF -94 000.00 USD 1.1587 Forex 3 443 444
04.01.05 18:00 06.01.05 GBP/USD -25 000.00 GBP 1.8925 Forex 3 443 776
04.01.05 18:02 06.01.05 USD/CHF 47 000.00 USD 1.1600 Forex 3 443 787
04.01.05 18:03 06.01.05 USD/CAD 47 000.00 USD 1.2160 Forex 3 443 799
04.01.05 18:10 06.01.05 USD/CAD 47 000.00 USD 1.2180 Forex 3 443 816
04.01.05 18:17 06.01.05 GBP/USD -25 000.00 GBP 1.8895 Forex 3 443 849
04.01.05 18:18 06.01.05 USD/CHF 47 000.00 USD 1.1620 Forex 3 443 865
04.01.05 18:20 06.01.05 USD/CAD 94 000.00 USD 1.2200 Forex 3 443 902
04.01.05 18:22 06.01.05 USD/CHF 94 000.00 USD 1.1640 Forex 3 443 935
04.01.05 18:25 06.01.05 GBP/USD -50 000.00 GBP 1.8865 Forex 3 443 975
04.01.05 18:27 06.01.05 USD/CAD 188 000.00 USD 1.2220 Forex 3 444 002
04.01.05 18:32 06.01.05 USD/CAD -376 000.00 USD 1.2220 Forex 3 444 042
04.01.05 18:32 06.01.05 GBP/USD 100 000.00 GBP 1.8865 Forex 3 444 043
04.01.05 18:33 06.01.05 USD/CHF -188 000.00 USD 1.1652 Forex 3 444 045
04.01.05 18:49 06.01.05 USD/CAD 54 000.00 USD 1.2225 Forex 3 444 099
04.01.05 18:51 06.01.05 USD/CHF 54 000.00 USD 1.1660 Forex 3 444 110
04.01.05 18:55 06.01.05 GBP/USD -29 000.00 GBP 1.8855 Forex 3 444 130
04.01.05 19:01 06.01.05 USD/CAD -54 000.00 USD 1.2237 Forex 3 444 189
04.01.05 19:02 06.01.05 GBP/USD 29 000.00 GBP 1.8835 Forex 3 444 193
04.01.05 19:03 06.01.05 USD/CHF -54 000.00 USD 1.1671 Forex 3 444 202

Cad +102
CHF +128
GBP +126

Total +356


05.01.05 10:47 07.01.05 GBP/USD -29 000.00 GBP 1.8795 Forex 3 449 369
05.01.05 10:47 07.01.05 USD/CHF 55 000.00 USD 1.1700 Forex 3 449 371
05.01.05 10:53 07.01.05 USD/CHF -55 000.00 USD 1.1709 Forex 3 449 409
05.01.05 10:53 07.01.05 GBP/USD 29 000.00 GBP 1.8785 Forex 3 449 410
05.01.05 12:54 07.01.05 USD/CAD 55 000.00 USD 1.2265 Forex 3 449 633
05.01.05 12:56 07.01.05 GBP/USD -29 000.00 GBP 1.8780 Forex 3 449 638
05.01.05 12:58 07.01.05 USD/CHF 55 000.00 USD 1.1715 Forex 3 449 660
05.01.05 12:59 07.01.05 GBP/USD -29 000.00 GBP 1.8750 Forex 3 449 672
05.01.05 13:08 07.01.05 USD/CHF 55 000.00 USD 1.1735 Forex 3 449 758
05.01.05 13:16 07.01.05 USD/CAD 55 000.00 USD 1.2285 Forex 3 449 838
05.01.05 13:21 07.01.05 USD/CHF 110 000.00 USD 1.1755 Forex 3 449 868
05.01.05 13:22 07.01.05 USD/CAD 110 000.00 USD 1.2305 Forex 3 449 871
05.01.05 13:36 07.01.05 USD/CAD -220 000.00 USD 1.2302 Forex 3 449 911
05.01.05 13:36 07.01.05 GBP/USD 58 000.00 GBP 1.8745 Forex 3 449 912
05.01.05 13:38 07.01.05 USD/CHF -220 000.00 USD 1.1749 Forex 3 449 918

CHF +43
GBP +45
CAD +37

Total +125


// in russian
http://forum.masterforex-v.org/inde...indpost&p=29204


-----------------------
My ideas would be to use USD/INX, Gbp/CHF as an indicator for Pound or swiss franc and GBP/Jpy as additional indicator for pound and yen, and please don't pyramid or open up too many lots....

Anyhow It would be interesting if people could try it (on a demo please) and put all the results in THIS thread... For some reason only Paramon seems to get those kinds of results (strategy was tested in Russian forums a lot), so either the system is fake or it requires a certain mastery. So I am not afraid that if this system works, it will become obsolete...
--------------

BTW I am testing tick by tick a semirandom system on Eur/CHF

and results are for 3.5-4 month... Not bad so far... So what the heck were we doing with TA?

Profits 152 Largest 133 Average 19
Losses 87 Largest 116 Average 19
Total profit or loss 1285 Maximum Drawdown 233

[simon5]

interesting system!!!!

[raffi12]

you are absolutely right about (so either the system is fake or it requires a certain mastery. So I am not afraid that if this system works, it will become obsolete).
this is too complicated for someone like me that doesn't have live trading experience,specially that this is scalping system. i can learn this but it will take time, i mean a serious time
so what you think? can i learn this?
cause in forex, there is no easy money or easy profitable system.
you have to work hard.

[TraderABC]

Originally Posted by raffi12

you are absolutely right about (so either the system is fake or it requires a certain mastery. So I am not afraid that if this system works, it will become obsolete).
this is too complicated for someone like me that doesn't have live trading experience,specially that this is scalping system. i can learn this but it will take time, i mean a serious time
so what you think? can i learn this?
cause in forex, there is no easy money or easy profitable system.
you have to work hard.

The system is easy once you get a hold of it. Probably the biggest problem would be
1)understanding my translation of it.

2)Remembering all the details. Remember, the devil is in the details....

3)doing it 3am in the morning...

[raffi12]

hey TraderABC
i'm from lebanon and 3am Est is 10am
every time i hear SCALPING i get excited, i guess i love this word
but i know it's a very very dangerous word, the thing is that i have 2 systems in my mind and this is the 3rd and i'm confuse wich one to pick
cause i'm gonna focus and study one of the 3sys and i will try to make it
profitable and will take serious time, the other two is trend system and the problem is i trade manualy,i trade what i see (demo) and i can't quit my job to spot a trend, that's why scalping good for me but again very very hard
thing.

so what is your recommendation for a guy who's in love with the SCALPING

[TraderABC]

Originally Posted by raffi12

hey TraderABC
...the problem is i trade manualy,i trade what i see (demo) and i can't quit my job to spot a trend, that's why scalping good for me but again very very hard
thing.

so what is your recommendation for a guy who's in love with the SCALPING

Couple ideas for those who have dayjobs and can't sit during the day.
1st) If you have shift work, try to move some work days it to saturday/sundays and during holidays.

2nd)I guess one should trade daily or 8hr bars...

[raffi12]

ok TraderABC, let me put it this way,
is it worth it to put my time and learn this system?
i'm asking you cause it's very obvious that you have experience in trading.

[raffi12]

oh, i forgot to mention.
is it true that most of brokerage firm don't allow scalping?

[TraderABC]

Personally I don't want to sit infront of the computer from 12am to 10am so I am not going to be doing this sort of "night trading". I am looking into 6hr charts...

About scalping, it depends how long you hold your positions. If you hold them for seconds, than brokers will obviously not like that. But if you hold them for much longer, then it shouldn't be a problem. In this system you may hold a position for an hour, maybe more, if the market is trending well.