For the 5m scalp system you need :
- 5 minutes EURUSD chart
- P4L Clock8.mq4
PWR determines the trend, positive = bulish, negative = bearish
Do not trade when the candle is bigger than 15 pips
Candle as a higher hi and higher low than the previous one.
Place a pending order at the high + spread with the stoploss on the candle's low and takeprofit at tha candle's size. R:R 1:1
ShortThe exact opposite, of course.
Cancel your pending orders when they dont get hit after 3 candles.
After a order is activated no other order can be placed, until it hits tp or sl.
8.00 am to 18.00 pm Central European Time (CET) or London time +1 (GMT+1)
Important info on the second chart. (which I use, only because I tested it like that, it's profitability is yet to be determined)
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what is Scalping ?
- a fraudulent form of market manipulation
- a legitimate method of arbitrage of small price gaps created by the bid-ask spread.
- a legitimate method of trading based on quick momentum trades triggered by order flow reading setups