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    Results 11 to 19 of 19

    Thread: 67037068 - Scalping and News Trades Keeping Everything Simple.

    1. #1
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      Default 67037068 - Scalping and News Trades Keeping Everything Simple.

      Account Information:

      Account No. : 67037068
      Investor password: cojxde82
      Server: InstaForex-Contest.com

      Trading Styles: Scalping, News and Swing.
      Time Frames: Any preferably M5, M15, M30, H1, H4 and D1.
      Currency Pairs: Any symbol/instrument that suits my plan and strategy.

      Here I have used my previous contest's strategy that I won. I hope you will enjoy it too.

      Description:

      I'll use trending candles and pin bar indicator and important financial news to open a trade.

      Pin bar Candle:

      Information about pin bar indicator can be found clicking this link given below. I have indicated it with an red arrow on the candle chart.
      https://forum.mt5.com/showthread.php?...ghlight=candle

      Name:  pinbar candles.jpg
Views: 85
Size:  317.8 KB

      Trending Candles:

      Here I consider a trend if I find three consecutive and almost even(almost same length) candles moving in the same direction on candle chart of M5, M15, M30 or H1 of any currency pair. I have indicated 1st candle with 1 and 4th candles with 4 and also shown entry point on the chart.

      Name:  trending candles.jpg
Views: 84
Size:  367.6 KB

      Forex News:

      I'll use the link given below for financial news.

      https://www.instaforex.com/forex_calendar.php


      Entry and Exit of a trade:

      I have specific strategy for each type of indicators:

      For Pin bar Candle:

      I will open a position in the opposite direction immediately or in the following candles after seeing a pin bar candle. Generally I'll use risk and reward ratio of 1:1 for this trade. I may use 2:1 ratio too. It is possible that I'll close trade manually in slow movement or for booking profit.

      Trending Candles:

      I will wait for 4th or/and 5th candle to complete. If I find 4th/5th candle is in the same direction or less than 40% retrace is seen based on those 3 candles length I'll put order in the same direction of previous 3/4 candles. Generally I'll use 2:1 risk and reward ratio but it can be contracted to 1:1 sometime. It is possible that I'll close trade manually in slow movement or for booking profit.

      News trading:

      I'll put some stop orders in both direction. Sell stop or buy stop orders with profit target of 10-30 pips with risk and reward of 1:1 depending on the news quality and impact. I may close the trade manually for booking profit.

      Money management:

      I will expose maximum of 10%-20% of my invest in a single trade with a target of 5% or more profit. In order to give more room for trades I might double the length of SL as if I have opened a new position at earlier SL. Similar things can happen to TP if strong trend is seen.

      Thank you all.





      Final trading statement for our members' learning purpose:

      Name:  FireShot Capture - Statement_ 67037068 - nkhan2810_ - file____D__MT5 Sections - modpng.jpg
Views: 130
Size:  350.2 KB


      to view bigger picture:
      1. open the above picture in new tab,
      2. click to zoom the picture
      Last edited by PhantomTrader79; 03-09-2016 at 04:49 AM.


    2. The following 7 users say Thank You to nkhan2810 for this useful post.

      azmassi (02-23-2016), bidyut (02-21-2016), dzin4aans (02-18-2016), goodguy333 (02-17-2016), Kalex (02-19-2016), NikitaBelle (02-16-2016), PhantomTrader79 (02-17-2016)

    3. #11
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      Default

      Trade No. : 14
      Order No. : 862183776
      Order Type: Sell
      Open Price: 1245.52
      Stop Loss: N/A
      Take Profit: 1218.49
      Volume: 4 lots
      Gold is going in my way. I just reduced profit target. Now the new TP is set to the value 1240$. Lets see does it hit the TP or not.

      ---------- Post added at 08:35 PM ---------- Previous post was at 08:24 PM ----------

      And Gold gone my way. Trade is closed automatically as it hit the TP. So the trade closed with handsome profit of +2208$. So overall profit of 80% till now.


    4. The Following User Says Thank You to nkhan2810 For This Useful Post:

      NikitaBelle (03-03-2016)

    5. #12
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      Default

      USDCAD is going down and down. I did scalping in this pair as well. Here is the trade details...


      Trade No. : 15
      Order No. : 862203488
      Order Type: Buy
      Open Price: 134.06
      Stop Loss: N/A
      Take Profit: 134.60
      Volume: 50 lots

      Reason of Open:

      This pair plummet over 1000 pips in last 2 weeks and moved more than 100 pips today. So the pair may try to consolidate from a support position near 1.34. D1 chart show the support level of the pair. Oil price rise also making CAD to go stronger and stronger. We may find some profit booking from seller which may bring this pair around 50/100 pips correction. I just want to grab few pips in my favor.

      Name:  contest9.jpg
Views: 31
Size:  140.9 KB

      Reason of Close:

      The trend is strongly bearish so it can go further down any time. I am happy to book some profit as I close the trade manually.

      Trade Result:

      This trade brought be +298.20$ profit.


    6. The Following User Says Thank You to nkhan2810 For This Useful Post:

      NikitaBelle (03-03-2016)

    7. #13
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      Default

      I gone back to trade gold once again as it seem it has got some ground/support and probably bounce back. Here is the trade details.

      Trade No. : 16
      Order No. : 862203958
      Order Type: Buy
      Open Price: 1229.13
      Stop Loss: N/A
      Take Profit: 1236.99
      Volume: 1 lot

      Reason of Open:

      In very small time it has moved over 14$. So it was expected that it will bounce back from it's H1 support near 1228$.

      Name:  gold2.jpg
Views: 30
Size:  145.0 KB

      Reason of Close:

      Gold is ranging and lost power of moving as day is closing. I decide to end the day without losing a trade. So closed it manually.


      Trade Result:

      This trade brought be +109$ profit.


    8. The Following User Says Thank You to nkhan2810 For This Useful Post:

      NikitaBelle (03-03-2016)

    9. #14
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      Default

      I made 6 more trades after trade no 16. I simply scalped these trades. And all trades end in positive and very happy that profit is over 100% now. I'll update these trades by tomorrow I hope. Stay tuned till then.


    10. #15
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      Default

      I tried to increase equity quick using the market trend. And found USDCAD providing good trend. I opened another trade and followed the trend. Here is the trade details:

      Trade No. : 17
      Order No. : 862206511
      Order Type: Sell
      Open Price: 1.3404
      Stop Loss: N/A
      Take Profit: 1.3386
      Volume: 50 lot

      Reason of Open:

      The pair is highly bearish as Oil price gone up. Though it tried to recover but gone to the trend and it was well verified by M15, M30 and H1 chart. So I decided to scalp it for few pips.

      Name:  contest10.jpg
Views: 26
Size:  165.5 KB

      Reason of Close:

      There was no technical or fundamental reason for closing the trade. It was simply psychological and I was happy as my equity was close to 18K as the trade in green zone.


      Trade Result:

      This trade brought me +223.91$ profit.
      Last edited by nkhan2810; 03-03-2016 at 05:05 AM.


    11. The Following User Says Thank You to nkhan2810 For This Useful Post:

      NikitaBelle (03-03-2016)

    12. #16
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      I was just waiting for a pip bar candle for long time. Finally got it on USDJPY pair and seeing strong bearish movement of the pair I opened a short position. Here is the trade description:

      Trade No. : 18
      Order No. : 862235832
      Order Type: Sell
      Open Price: 114.17
      Stop Loss: N/A
      Take Profit: 113.84
      Volume: 50 lot

      Reason of Open:

      As a pin bar is seen followed by strong retrace. So I opened a short position for the USDJPY. The following chart on M15 verifies my thoughts. It also seen on H1 chart that the bull power of the pair is well resisted around 114.35.

      Name:  contest11.jpg
Views: 21
Size:  123.8 KB

      Reason of Close:

      As trade gave me around 1K profit I decided to close the trade manually to book profit and improve the equity.

      Trade Result:

      The trade gave me quick profit of +921.38


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      NikitaBelle (03-04-2016)

    14. #17
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      Default

      Later I opened few more trades. This time it is USDCHF as the pair trending UP. I wanted to close the day with around 20K balance. Here are the trade details:

      Trade No. : 19, 20, 21, 22
      Order No. : 862238572, 862238631, 862239101 and 862239814
      Order Type: Buy
      Open Price: 1.0003, 0.9997, 0.9988 and 0.9990
      Stop Loss: N/A
      Take Profit: 1.0004, 1.0003, 1.0013 and 1.0004
      Volume: 0.01, 0.02, 20 and 50


      Reason of Open:

      As slow UP trend continued for the pair so I decided to try it and opened few long position in different pair. Last two trades were open so that I can make 20K equity even if trade no 18 and 19 give me only 1/2 pip profit. The is shown in the give image below...

      Name:  contest12.jpg
Views: 25
Size:  76.2 KB

      Reason of Close:

      Some trade hit the TP and some were closed manually as my total equity is over 20K which seems good enough for now in this contest.

      Trade Result:

      So the trade got profit of +0.01, +0.1, +40.04 and +599.88 respectively.


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      NikitaBelle (03-04-2016)

    16. #18
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      Default

      I decided not to open any trade today or on the last day of contest. Though I was interested to open trades on NFP but finally decided against it. So far my accuracy in trading came nicely though some trade results were very tiny. Good wishes for other traders who still fighting. And thanks to all forum members and mods who read my thread. I said simple is nice for me. It is my pleasure to participate in the contest and write for your guys/gals. I would be very happy if anybody got benefited from my trading or trading style. See you soon in next contest. Thanks.


    17. The following 3 users say Thank You to nkhan2810 for this useful post.

      Aviz (12-02-2016), NikitaBelle (03-05-2016), PhantomTrader79 (03-09-2016)

    18. #19
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      CONGRATS on winning the 1st place!


    19. The Following User Says Thank You to PhantomTrader79 For This Useful Post:

      nkhan2810 (03-09-2016)

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