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12 08 01 - Disqualified my top rank as "monster trader" of all times.
Warning: Don't use this techiques in any ways. You can try it on demo accounts, but not on contest and specialy not with real money. I have tested and tried for you.
Testing my demo contest strategy skill on one of the leading broker systems has ranked me as top 1. trader, when from initial deposit of $1.000 in just two days I have gained to over $4.000.000, for what they banned me, due to violations of terms and conditions.
Reason: To many open trades of high volume on the same currency pair oposite orders. But anyways, it was demo and I didn't take much care about the money, so I have risked all account equity with open orders.
Nice experience, that ranked me as monster trader, because noone never has reached so much from inicial deposit of $1.000 in just one day and a half. I used scalper trading in both directions.
My experience: I must say there is no 100% winning strategy. Market is made to grab peoples money if we allow it. It can not be even 50% predicted and guaranteed to win trades, it is just a right moment and mood combinating big luck.
Otherwise... I started from lowest and I tried to see the where price moves. I went for all or nothing, so the luck has smiled me, just for two days. On last contest I lost all in just one day by same strategy. If you'd risk all like me, you'll have luck, but this kind of trading with real money I never want to test.
How did I do: Well simple. If you know when the price is at bottom, and starts to bounce up and down + you the broker serve you low spreads, you can do next:
Buy currency at bottom, make low stop-loss, wait until stops and you think that it is at the top, thats around 10-12 pips of current grows, then make sell and set low stop loss. Now wait to see if it is ok to make sell, if price fall 3-4 pips and start growing, buy double order, close sell and leave both buy orders to profit, you will loose minimum and have a profit on first buy and if you have luck even with doubled second buy order. If market doesn't bounce with high volumes, you win. That's why best trading of this kind is at night +1GMT.
What chart I use: For scalping I use 1 minute chart. Why? It is best seen how much it will price go to the peak and all of that is best to do when USD & EUR Markets are not working, because they change other markets drasticaly.
In the morning, when the EUR market has opening the prices started to zigzaging, because of planned transfers between currencies.
Most of orders were winned, then I have started with 1000 Lots and lost a lot. I came from 1.400.000 to the 600.000 in just 30 min. At this time I stopped and waited to fall down and when it was down I bought and waited for mirracles.
Again luck has smiled to me. I have buyed 3x 1.000k LOTS and gained $600.000 back. After that reversed the order, again winned with 10x 1.000k LOTS and recieved $1.200.000, and reversed order again and recieved from 30x 1.000k LOTS 4.000.000, and reversed again, when I lost 20x 1.000k LOTS and went to something more than 4.000.000 in total.
In real account, this kind of trading is not smart. You would lost more than recieved, because of emotions and the real price transactions on the market, where you are watched, so easy they can fall down for 50 Pips and take you all.
Otherwise: rather work regulary. Help your self with Fibonacci or other tools and use minimal lots.
DanielKey
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