FOREX SCALPING FOR SCALPERS IN FOREX TRADING.
Especially relevant as a scalper who likes to do forex Scalping, I think by which you will love this strategy which is characterized by high-volume trading.
Furthermore, these strategies are designed to enter the market frequently, taking small profits each time with proper confident by using these Forex Scalping strategies.
Almost Forex Scalping strategies use either indicators or price action or a combination of both.
Ideally, I used this strategy on the lowest time frames available on the broker’s platform.
So M1 and M5 these two-time frames give you enough opportunities to enter in and out of the market several times a day.
Although Forex Scalping is very exciting, the constant monitoring of market movements can give rise to tiredness and loss of focus.
HIGH – SPEED FOREX SCALPING STRATEGY
I design this High-Speed strategy with two criteria in mind:
1. The most liquid currency pair in the world.
2. The lowest time frame available.
The development of the High-Speed strategy on only the minute chart (M1) for the EUR/USD currency pair.
The M1 timeframe is fast-Speed and excite. If you are not careful, your experience can cloud your trading decisions.
On average, there are about 30 to 40 trading opportunities for the rapid-fire strategy every day.
Maybe the High-Speed strategy works with the 1-minute (M1) time frame. Each candlestick on the chart represents 1 minute of price movement.
Therefore we use these indicators for the High-Speed strategy:
1. Parabolic SAR with default setting: a. Step 0.02 b. Maximum 0.2
2. Simple moving average (SMA), period 60, and apply to close.
I designed this strategy specifically for the EUR/USD, the most traded currency pair in the world.
LONG TRADE SETUP
Here are the steps to execute a long trade using the High-Speed Strategy:
1. Look for the market price to go above the SMA 60.
2. Wait for the Parabolic SAR to move above the market price.
3. Once the market price goes above the Parabolic SAR, the Parabolic SAR will appear below the market price.
This is the signal to enter for long. (See above Figure)
4. The stop loss is set at 15 pips below the entry price.
5. The profit target is set at 6 pips above the entry price. (See above Figure)
SHORT TRADE SETUP
Here are the steps to execute a short trade using the High-Speed Strategy:
1. Look for the market price to go below the SMA 60.
2. Wait for the Parabolic SAR to move below the market price.
3. Once the market price goes below the Parabolic SAR, the Parabolic SAR will appear above the market price. This is the signal to enter for short. (See above Figure)
4. Set the stop loss at 15 pips above the entry price.
5. Set the profit target at 6 pips below the entry price. (See above Figure)