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Piggy Bank Scalper (By Wruss )

Gain : -29.46%
Drawdown 32.33%
Pips: 191.3
Trades 1093
Won:
Lost:
Type: Real
Leverage: 1:100
Trading: Manual

Piggy Bank Scalper Discussion

lenanapeak
Oct 10 2017 at 14:39
11 posts
excellent start. Keep it up!

lenanapeak
Oct 10 2017 at 14:41
11 posts

Mr Wruss, I have a couple of questions for you which I hope you don't mind me asking.

1) How long have you been trading forex

2) Do you trade using an EA or are you a manual trader and how many currency pairs does your system trade

3) Speaking of systems, I note yours is mentioned to be a scalper. Is it also a martingale system?

4) Do you use stop loss orders while scalping?

5) Are you planning to offer your signal for copying or are you simply displaying your results.

6) What is your expected average monthly return if you plan on selling your signal.

Personally, I like that you appear to be keeping your drawdown below 10%.If current results are an indication of future performance, I would definitely be interested in copying your signal when it becomes available

sincerely
Lenana Peak

lenanapeak
Oct 10 2017 at 14:42
11 posts

Mr Wruss, I have a couple of questions for you which I hope you don't mind me asking.

1) Do you trade using an EA or are you a manual trader.

2) How long have you been trading forex

3) Are you planning to offer your signal for copying or are you simply displaying your results.

4) What is your expected average monthly return

Personally, I like that you appear to be keeping your drawdown below 10%.If current results are an indication of future performance, I would definitely be interested in copying your signal when it becomes available

sincerely
Lenana Peak

shahinurit
Oct 11 2017 at 06:30
1 posts
hello
i am new trader at Forex market .i want to learn scalping .how it can possible ?

Wruss
Oct 11 2017 at 11:22
2 posts
Good day to you Lenanapeak.

Thank you for your interest, very good questions to ask and I am happy to address them.
1. I have about 5 years of trading experience. I have learnt several strategies, however as years went on – I chose to focus on one key area and really gain the intimate knowledge for this specific trading style that you will see under this Piggy Bank profile.

2. All trades are manually opened, and adjusted. There is one EA running in the background that completely stops all trading for that day if the drawdown reaches 2% of the account value. 2% is a very tight drawdown, but that is the target cut off should a trading day not go our way. Piggy Bank will NEVER hold losses in a “hope” that the market turns back into our favor. We simply stop, reassess, and move onto another trade.

3. The Piggy Bank Scalping trading style is certainly no martingale, or any other system that may appear to work on a short term basis. There will be a time where 2 – 4 positions are opened, but this is due to the complex nature of the trade setup that I can provide you an example with if you wish, but just be aware that the EA will cut trading off at 2%, so there is no “over-exposed” trading happening, only justified trades IF parameters and price action allows it.

4. While the EA is set at 2% in the background, each open position will have it’s own stop loss value as well. This is done to capture any time where the market has a very strong and fast move against the open position. When positions are in profit, those stop losses then become a trailing stop to lock in profits, again to cover strong and quick trend changes.

5. The intent of Piggy Bank Scalper is to offer it as a service. As usual it will require a solid 3 month performance before it can be approved as a signal service. In the mean time I trust that you follow along over the next few months, and verify the data in real time should you choose to come on board. The data will always be there, and I will be available within this forum for any other questions you may have in the next few weeks

6. The expectation for the signal is to target minimum 10% per month. Some may say this is not big enough to get involved with, but I believe it is a great return considering an account drawdown will only ever be 2% maximum, so that to me is a pretty good risk ratio, and it also provides an all round service for those that require short term income support, long term growth over time, and for those who like to risk a little more by duplicating their exposure without the risk of account failure.

I hope this gives you a good understanding of the service that could be provided to you in due time. The key to scalping is consistency, and that is certainly the aim of what this signal is about. I also wish to continue keeping communication open and free with members as I feel it is a very important factor in trading and providing a service to others, thus this communication will be available indefinitely, and I seek to address anything that comes up on the forum to keep this strong level of communication, member satisfaction and confidence that they are being looked after and not taken for a ride.

Thank you again for your interest. I am sure we shall make contact again soon. It is early days for Piggy Bank Scalper

Wruss.

Profits should be made from market movement... Not over committing on positions. Sooner or later, the latter option always comes back to haunt the trader
lenanapeak
Oct 12 2017 at 06:35
11 posts

Thank you Wruss for your quick and detailed response. I appreciate that. Your description of your trading systems is intriguing and I will most certainly keep an eye out for it once its available for copying

Regards
Lenana Peak

Wruss
Oct 12 2017 at 06:39
2 posts
Good day to you shahinurit.

Welcome to the big bad world of trading Forex. Your question – while it might seem very simple, is actually quite complex. Remember – it has taken 5 years of trading for me personally to get to this point – and that was with some financial backing to purchase online courses and attend seminars etc.

To become successful in scalping – My belief is that you must understand the fundamentals of general trading first. Understanding trend-lines, basic overview of all indicators etc – and what works best and when. Most of the basics can actually be seen on free online portals. I was rather annoyed in the early days when I spent money on courses – only to find out if I did online web searches, or searched videos on you tube – the exact same information can be seen there!!

So for you – after only one month of looking around and joining Forex, I’d suggest to spend as much spare time as possible understanding what makes markets move, and how you would go about getting the right direction, remembering scalping is “in and out”, not sitting on a trade hoping for the best, thus it also requires – in my opinion – very good mental stamina, and very disciplined actions. This to me – is something that can not be taught. You can read as much about mental health, human emotion and discipline as you like – but until it is put into practice, it is only words in a book. I spent quite some time on demo accounts, but I soon discovered that using demo accounts – is good for strategy building – but no good for decision making. Reason is – demo account = fake funds. When you start trading your own money, the human emotions of watching your account in drawdown and or loss is much different than watching a demo. This is where I started writing my thoughts down, and assessing “what went wrong” each time I had placed a bad trade, and continued to refine it over the years.

Forex is a long term business commitment, not a quick fix, but – in saying that – Piggy Bank can certainly help you gain some income in the short term while you seek to find your own trading style.

All the best to your new-found adventure!
Wruss...

Profits should be made from market movement... Not over committing on positions. Sooner or later, the latter option always comes back to haunt the trader
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