On the one hand, you have to spend a lot of time on your computer. First up is this fast one minute scalping system which can be used for trading stocks, futures or Forex.
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For a stronger buy signal all three of the Bollinger bands should be above the exponential average. For a sell signal both the lower Bollinger band and the middle moving average of the Bollinger band must be below the exponential moving average. For a stronger sell signal all three of the Bollinger bands should be below the exponential average. There are things to look for which will become very apparent as you trade this in real time yourself.
Make sure you test out this system on a demo account before you trade it for real, and make sure you get a feel for when the best trades might come.
One of the things you might want to look for are the tightening of the Bollinger bands after a change in direction, often a small impulsive push comes right afterwards.
Once you have determined if the price is in buy or sell mode you will then be looking to enter a trade. This system takes trades in the direction of the Bollinger bands into the extremes. So for instance on the chart below, buying mode has been established because both the upper Bollinger band and the middle Bollinger average are above the exponential moving average. Once an up candle has formed you are looking for the price to break beyond the high of this candle.
Take a look at the example on this chart. The first highlighted area shows a candle closing up, which then moves higher on the open of the subsequent candle. This would be where you enter the trade. Your stoploss would be placed at either the last low in the price, or at the lower Bollinger band. This is now where practice comes into play. To keep your risk to a minimum you need to be fast and efficient at moving your stoploss up under the price.
What you are looking for is the price to continue and approach or touch the upper Bollinger band. Once it moves towards the upper Bollinger band you need to move your stoploss up to the middle Bollinger band level.
This will remove most of the risk from the trade. If the trade moves up sharply you may want to place your stoploss at breakeven right away actual entry point. With practice you get a feel for the correct place to put your stoploss to allow your trade freedom to move. Often after the Bollinger bands have contracted price breaks out with a sharp move.
If you are quick and get your stop to breakeven you can look to exit this trade somewhere between one or two times the risk distance between your entry and initial stoploss. Ideally, if you risked 10 points you want to be taking between 10 and 20 points profit from a trade. If the move has been sharp you may want to try and lock in some profits, as often it can retrace quickly.
Start moving your stoploss up from breakeven or from the middle Bollinger and trail it underneath the low of every candle that closes up. The next highlighted area on the above chart shows a sell trade.
Once again you are looking for the lower Bollinger band and the middle Bollinger average to push below the exponential moving average. Then you are looking for a candle that closes down, and the entry is triggered when the low of this candle is broken. Your stoploss is placed at either the last small high in the price, or at the middle Bollinger level, or at your maximum you are willing to risk on the trade.
Bear in mind you want to keep the risk as small as possible on these trades to make this work. Once the price has moved down towards touching the lower Bollinger band you need to get your stop quickly to breakeven.
Then either start to trail it down locking in your profit, or closing the trade between one or two times your risk. On the one hand, you have to spend a lot of time on your computer. On the other, you need to master the use of small spreads and commissions. Learn how to effectively trade on a daily basis, even if you are a beginner in Forex trading.
Incorporate key strategies to your Forex trading plan doing over trades within a day, and learn how to maximize your time and efforts making the biggest impact possible when trading at a microeconomic level.
Below you will find some recommendations in order to ensure that you comply with the necessary specifications and parameters. You are able to work with the currency pair of your choice, but we recommend you to choose the one with the lowest spreads.
To enter a buy long order it is important to play safe, so we recommend you to use the Stochastic Oscillator below the 20 level. Remember that you are performing a short-term strategy, so you are expected to gain at least pips on a trade.
The ideal would be to put the take profits around pips from the entry price, and the stop-loss around pips below the last swing. To enter a sell short order, follow the same procedure, but it in the other way around. That is to say, the Stochastic Oscillator should be above the 80 level. It is also possible to implement 1-minute Forex scalping strategy with Dealing Desk Broker. Despite its name, 1 Minute Forex Scalping requires spending long hours in trading. However, that is what it takes to make a champion day trade.
By selling and buying around pips, and making a profit from small price gaps, you will be able to trade in larger volumes. Forex 1 Minute Scalping makes it so effective and fast to start Forex trading, that most beginners will be hooked to this strategy. If you feel like you need some practice or are not sure that this strategy will work, you can take one of the no deposit bonuses and test the strategy directly in the field.
Also, remember that in order to be a good trader, you do not have to be a scalper. Luckily, there are different FX trading techniques that can be used. Furthermore, this category has tips about the latest bonuses and tell you how to pick the best one for yourself. Be the first one to find out about available Forex trading bonuses that can be trusted.
Using Forex 1 Minute Scalping Strategy You are able to work with the currency pair of your choice, but we recommend you to choose the one with the lowest spreads.