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Scalping/ reporting

Discussion in 'Beginners Bootcamp' started by mattt, Aug 30, 2010.

  1. mattt

    mattt Private

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    Hi,

    I am considering starting out scalping (using the Cloverix system, but have a (possibly stupid) question:

    It seems that the max profit their system is set for is 2:

    1966769 2010.08.17 21:40 sell 41.10 eurchf 1.34470 0.00000 0.00000 2010.08.17 21:40 1.34450 0.00 0.00 0.00 787.28 2
    1966825 2010.08.17 22:51 sell 41.10 eurchf 1.34420 0.00000 1.34400 2010.08.17 23:17 1.34400 0.00 0.00 0.00 787.20 2
    1968973 2010.08.18 21:00 sell 41.20 eurchf 1.34030 0.00000 1.34010 2010.08.18 21:06 1.34010 0.00 0.00 0.00 790.41 2
    1969004 2010.08.18 21:11 sell 41.30 eurchf 1.34030 0.00000 1.34010 2010.08.18 21:16 1.34010 0.00 0.00 0.00 792.33 2
    1969051 2010.08.18 21:43 sell 41.40 eurchf 1.34030 0.00000 0.00000 2010.08.18 21:43 1.34010 0.00 0.00 0.00 793.78 2
    1969063 2010.08.18 21:46 sell 41.50 eurchf 1.34040 0.00000 1.34020 2010.08.18 21:47 1.34020 0.00 0.00 0.00 795.86 2
    1969075 2010.08.18 21:49 sell 41.50 eurchf 1.34040 0.00000 1.34020 2010.08.18 21:50 1.34020 0.00 0.00 0.00 795.94 2
    1969116 2010.08.18 22:27 sell 41.60 eurchf 1.34040 0.00000 0.00000 2010.08.18 22:28 1.34020 0.00 0.00 0.00 798.32 2
    1971944 2010.08.19 21:00 buy 41.70 eurchf 1.32300 0.00000 1.32320 2010.08.19 21:07 1.32320 0.00 0.00 0.00 808.14 2
    1971954 2010.08.19 21:00 buy 41.70 eurgbp 0.82190 0.00000 0.00000 2010.08.19 21:14 0.82210 0.00 0.00 0.00 1 300.46 2
    1971962 2010.08.19 21:07 buy 41.80 eurchf 1.32330 0.00000 1.32350 2010.08.19 21:15 1.32330 0.00 0.00 0.00 0.00 0
    1971990 2010.08.19 21:59 buy 41.90 eurgbp 0.82200 0.00000 0.82220 2010.08.19 22:04 0.82220 0.00 0.00 0.00 1 306.94 2
    1972031 2010.08.19 22:22 sell 42.00 eurchf 1.32330 0.00000 0.00000 2010.08.19 22:22 1.32310 0.00 0.00 0.00 813.72 2
    1972043 2010.08.19 22:31 sell 42.10 eurgbp 0.82220 0.00000 0.82210 2010.08.19 23:18 0.82210 0.00 0.00 0.00 656.26 1
    1972076 2010.08.19 22:48 sell 42.10 eurchf 1.32320 0.00000 1.32310 2010.08.19 23:20 1.32310 0.00 0.00 0.00 407.63 1
    1975928 2010.08.23 21:30 buy 42.20 eurchf 1.31760 0.00000 1.31770 2010.08.23 22:00 1.31750 0.00 0.00 -427.33 -405.53 -1
    1975951 2010.08.23 22:00 sell 42.10 eurchf 1.31770 0.00000 1.31750 2010.08.23 22:09 1.31750 0.00 0.00 0.00 808.69 2
    1975984 2010.08.23 22:17 sell 42.20 eurchf 1.31770 0.00000 1.31750 2010.08.23 22:30 1.31750 0.00 0.00 0.00 810.61 2
    1976010 2010.08.23 22:33 sell 42.30 eurgbp 0.81620 0.00000 0.81600 2010.08.23 22:37 0.81600 0.00 0.00 0.00 1 312.40 2
    1976035 2010.08.23 22:45 sell 42.40 eurgbp 0.81610 0.00000 0.81590 2010.08.23 22:58 0.81590 0.00 0.00 0.00 1 315.24 2

    With this in mind, if the spread charge from my broker is 3 (which seems to be average) on these trades, doesnt that mean that on every trade, it's a loss? Unless the broker commission is baked in somewhere I'm not seeing? If so, how do you make this useful?
     
  2. Laszlo Dobiasz

    Laszlo Dobiasz Private, 1st Class

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    Let's see your first trade.
    It sold at 1.3447 and closed the order at 1.3445 it means that you won 2 pips.
    The sell order realized on Bid price, the close order realized on Ask price it doesn't matter how much is the spread.
    As i see your broker doesn't charge commission, so you win 2 pips on this trade.
     
  3. mattt

    mattt Private

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    Thats a demo mate. That's why it's not calculated.

    Anyway, seems like its fairly obvious that this system is meant to stuff money only into the pockets of the brokers entirely at the expense of users (unless you can find a way to lock in spreads less than 2).
     
  4. forexclues

    forexclues Private

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    cloverix system

    hi matt

    you wont believe this

    I think i'm actually interested in the cloverix system

    did u find it in the trading system and strategy section at FPA?

    The most important thing in forex is CONSISTENT PROFITS

    It in not the spread.....although it matters for quicker profits........

    ;););)
     
  5. melati untuk

    melati untuk Private

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    which broker is allowing scalping method? in prime4x, when I use this method, he delete my profit and they said "scalping not allowed" >.<
     

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