Avdo is a 38 year old internet marketer, come trader. With only 18 months experience in trading Forex he is, amazingly, already very profitable. In fact, he became consistently profitable within 5 months after a friend introduced him to an MLM company that teaches people on how to trade. After learning Harmonic Patterns, Fibonacci Retracements and Price Action principles, he packed his bags and decided to go trading full time.
Realizing there is a better way to trade, Avdo chose to become a scalper. Scalping the one minute chart and trading less than 4 hours a day.
UPDATE 26TH JANUARY 2019
I’ve been informed Avdo has disappeared and
left his members without a mentor. Proceed with caution.
In the podcast Avdo shares:
- The importance of patience
- Why techniques and skill is overrated
- The perks of trading and focusing on 1 currency pair
- Why he stacks his trades versus increasing his risk
I too have been scalping GJ on the M1 and M5! Thank you for doing this interview!!! Im going to check out how his system works and test it!
WOOOOO! (Rick Flair)
My pleasure Chad!
I trade mostly on M1, M5 and M15 charts (having chart on M5 as default) exclusively GBPJPY, but checking constantly also higher time frames, all up to daily (and higher). My problem, althought I can make 20%, 30% and more DAILY profits, as soon as it comes new strong trend and when I miss the entry, I have problems, because then I start to catch reversals, which often does NOT happen, because It often happens that trend on higher time frame, even as H1 or H4 is so strong, that there is not much reversals on M15, M5 or even M1. Fibo levels and support and resistance can be useful then, to see the target in distance, BUT… I’m still so into M1 and M5, that I still have hard time to watch those targets in far distance and to become “brave” enough to trade with a trend, even if price is on very peak. How it ends, after a week of great trading, sooner or later strong trend kill my account again… I guess I still need a lot to learn, how to jump on strong trend. 😉
Thanks for the detail Zokimaster, I’m sure others may find that useful.
hey Zokimaster.. if you are scalper, then master scalping.. don’t look to jump on big trends.. or vice versa.. I see people mainly making mistakes when they try to master more strategies at the time
Regarding the SSTOC: What kind of adjustment do you use?
hey DonDollar.. I’m using 5.3.3. settings for stochastic.. you can try 14.3.3. also.. but with 5.3.3. I get more divergance set ups that I love
Is divergence and oversold conditions the main entry trigger for the trade?
yes they are Eric. those are 2 main entry triggers
Hey avdo, I see you mentioned about 20pips max stop-loss, but your trading statement somehow shown different story. Sometimes you’re willing to down, up to almost 270pips. Can you share how much you willing to take actually? And what make you know it gonna bounce back since you hold it for such number?
that is not something I’m recommending.. I did hold it for that long in 2 occasions, because I entered in a hurry and didn’t check the news before entering, but I confirmed with higher timeframes that I can hold it.. it was a stupid thing to do though, I would never recommend it, or do it again.. Strict SL is a MUST
This strat has taken my trading to a WHOLE new level!! Scalping GJ has NEVER been easier! Thank You, Cam and Thank You, Avdo!!!
Great to hear Chad, I’m grateful to Avdo for sharing so much on the show. And enough to complete the picture for traders like yourself.
Hello Avdo. I enjoyed the podcast. It was quite insightful for me because I’ve only had a little success with scalping. Do you by any chance provide like a trade copy service? I ask because the London Session for me starts at 12am in the morning.
Hey Xavier, check his site forexgrid.net, he has all the info for managed accounts on there.
Hey Avdo and Cam, great interview! Avdo, I thought I heard you mention you also use RSI overbought/sold in conjunction with Stochastics. If so, are you willing to share your RSI settings with us? I noticed in the comments here that you use divergence as part of the setup. I must have missed that in the interview, but is this correct?
Thanks again!
the performance is too good to be true…
the trade statement is one month (2016.11.22-2017.01.06), that is not a long time for a track record
commissions (4 USD vs profits of 6 ) + spread, that represents more than 66% of the profits, the broker must love this strategy and with such high costs it can’t be viable in the long term
I guess this could be a marketing scheme: you open multiple accounts some will go bust and a couple will survive, the surviving ones you show as evidence of trading results then people pay to join curses and/or for every customer a broker gets through you, you get a fee…could be a scam
but hey people are free to believe in fairies and unicorns..and whatever they like
its been working for me and the others that ive been helping.
We caught both spikes on GBPJPY today off of the M1 time frame. I like to rely more on a certain candle pattern. Hint* look at today, 2/9/16, M1 time frame coming out of London right before the 65 pip jump.
That pattern is my unicorn that shoots fairy dust 😀
Thanks for the update Chad.
Blimey! we might have to get you on the show soon 😉
Haha! Oh wow! Thank you! I don’t think I’m anywhere close to being qualified, but I am willing to help out wherever I can 🙂
Hey Chad, can you hook me up and show me a little more about this strategy? Cam I suppose I cannot leave my contact here, can you advise
good for you!
do you have a one year track record with a real account at myfxbook? (with verified track record and trading privileges)
the easy part of scalping is taking profits…that happens quite often, could be 90% of the time, the problem is managing the losses, they are rare but when they happen, they usually wipe out profits and then some, combining that with the frequent trading costs ( spreads and commission) it is near impossible to make money with this type of system.
Pit traders were able to scalp back in the 70s, 80s since they were not paying the spread and commissions
I sure do, but it isn’t a years worth of this strategy…for obvious reasons. Ill be more than happy to get on a live session with you and show you.
ok thanks!
just post whatever myfxbook records you have then
Hi Avdo,
Is it possible to share the exact setup, maybe a screen shot of it when you take a trade? Do you take a trade when the price get overbought or when the overbought signal turns back down?
Do you wait for both Stochastic and RSI to be overbought to take a trade?
Your TP (take profit) is set to 5 pips, but you close the trade after 2.5 pips approximately as shown in your statement, why is that?
Thanks!
Svaka cast Avdo! Hvala lepo! George
Sounds great – I will email you for that link
Glad you guys could hook up!