Metatrader 4 is the platform the EA is running on. Set files for other supported pairs you can find attached to the post! Forextradingstrategiesresources Thursday, 14 November Market News 11 0. I am using M1 open price test for all my EAs - it is good enough.
Bollinger Bands Scalping
I trade this system also using MACD indicator at normal setting it helps me get more pips with each trade. Dex Friday, 03 July Hi, thanks for the detailed description! Can I understand why the specific timing? Ben Friday, 03 January Martingale is only advisable if you can afford it, put at least 13K in ur account and then trade with 25 euro per trade.
Is it still workable then? Denny Wednesday, 04 December Forextradingstrategiesresources Thursday, 14 November Justin Thursday, 14 November Daniel Tuesday, 23 July Doesn't the Euro tend to trend a lot? Would this scalping method work for a market that likes to trend?
Chaos Awesome and Bollinger bands Scalping System. The first trade here hit my stop but the second trade was a good 7 pips so overall I was in positive.
I just wanted to show you that this system will produce some losses but it is very rare that the second entry is a loss too. Money Management Finding entries and exits is only half the battle you MUST manage your money well in order to be profitable overall. Then once I have made 10 pips for the day I stop trading. Oanda will let you use micro lots so each pip is 0. First and most important you must check the time you are trading, it must be between 2am to 5am EST, 8am to 12am EST and 7.
Then you must check that there are no major news releases due out for the USD or EUR during the time you are planning to trade.
Do not scalp 30 minutes before a orange or red news report and not for a hour afterwards. Every trade has a 5 pip stop and I normally aim for the centre line of the Bollinger bands or pips in profit.
If you see the market is in a strong trend down do not enter a buy position until price has penetrated the centre line of the Bollinger Bands up to ensure the trend is over. The same rule applies for a strong up trend, do not enter a sell position until price has penetrated the centre Bollinger Band. This does not happen very often if you are trading during the times I have set out.
Below is an example of a strong down trend. Having patient is very important when using this scalping system! What are they for? You will get burned most of the time. No matter how many deviations you have.
On the rules, you have to have a hard stop. That is just good money management sense. So both indicators have to be overbought and come back down for there to be a valid signal.
I have seen cases where the market keeps moving. So don't just assume once it reaches oversold to immediately sell. You will be in front of the computer all day and night for a couple of trades. Testing sec timeframe right now.
It works out pretty good for 3 pips. Look at the down move that happened. Hi there, my name is Hessel van der Hoeven and I'm from Holland. I submitted this strategy four days ago without being signed up for any forum or something like that. This explains why I wasn't able to add a Username for instance.
I was wondering if this could be changed? I would like to see my name above this scalping system. About the system then Newboy, when prices reach the Red BB, a new entry is even more reliable. Usually, price won't reach the Red BB, but when it does, you have a very nice entry point!
Waiting for both indicators to cross is a serious option, it will make entries more secure. However, you could miss a few pips by waiting for the indicators to cross. The question is, how much risk are you willing to take in a trade..
When you're not fully confident of a new possible entry, just wait for the indicators to cross. This looks good to me but I'm not clear on the entry. What exactly is "halfway up to the upper blue bollinger band.
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