Weekly Forex Scalping Strategy
Weekly forex scalping system is very simple. Create a weekly chart on your forex chart. Place trades 50 PIPS above or below the close for the previous week. Use 30 PIP trailing stops. No profit targets. Let the trade run for the entire week and close during the final 30 minutes of the market for the week. The great feature of this system is that more often than not the weekly trend will establish itself and stay in tact from the Monday or Tuesday of the trading session for that week.
GBP/USD Example:
Previous weekly close: 1.9597
Buy: 1.9647
Sell: 1.9547
The following rule is a bit different than most trading systems of this style:
If the "Buy" is executed, move the sell up to the previous weeks close (1.9597 in this case). If the "Sell" is executed, move the buy down to the previous weeks close (in this case likewise 1.9597)
These two rules permit a more robust and agressive entry after losing trades.
Recommend volatile markets (USD/CHF, GPB/USD, etc.)
Here is the current trade that I am in using the GPB/USD:
This system averages approximately 150 pips per week in the GBP/USD market without any intervention. I am a big believer that most people over trade the market. This system will minimize your trades by its very nature.
Daily Scalping
Daily trading rule are as follows:
1. Create daily chart on any pair
2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)
3. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry)
4. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.
5. Use 40 PIP stops on all orders.
6. Close between 2300 GMT and 2400 GMT.
7. Repeat trade rules at 2400 GMT.
No straddling the price entry. Enter market immediately with 40 PIP reversal companion order.
Happy Trading,
Tkimble from forexfactory.com
Weekly forex scalping system is very simple. Create a weekly chart on your forex chart. Place trades 50 PIPS above or below the close for the previous week. Use 30 PIP trailing stops. No profit targets. Let the trade run for the entire week and close during the final 30 minutes of the market for the week. The great feature of this system is that more often than not the weekly trend will establish itself and stay in tact from the Monday or Tuesday of the trading session for that week.
GBP/USD Example:
Previous weekly close: 1.9597
Buy: 1.9647
Sell: 1.9547
The following rule is a bit different than most trading systems of this style:
If the "Buy" is executed, move the sell up to the previous weeks close (1.9597 in this case). If the "Sell" is executed, move the buy down to the previous weeks close (in this case likewise 1.9597)
These two rules permit a more robust and agressive entry after losing trades.
Recommend volatile markets (USD/CHF, GPB/USD, etc.)
Here is the current trade that I am in using the GPB/USD:
This system averages approximately 150 pips per week in the GBP/USD market without any intervention. I am a big believer that most people over trade the market. This system will minimize your trades by its very nature.
Daily Scalping
Daily trading rule are as follows:
1. Create daily chart on any pair
2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)
3. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry)
4. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.
5. Use 40 PIP stops on all orders.
6. Close between 2300 GMT and 2400 GMT.
7. Repeat trade rules at 2400 GMT.
No straddling the price entry. Enter market immediately with 40 PIP reversal companion order.
Happy Trading,
Tkimble from forexfactory.com
No comments:
Post a Comment