Senin, 29 Agustus 2011

5m scalp system

5m scalp system Forex Trading system
For the 5m scalp system you need :
  1. 5 minutes EURUSD chart

  2. P4L Clock8.mq4

  3. PwR.ex4

  4. Candle_Range_in_pips.ex4

PWR determines the trend, positive = bulish, negative = bearish
Do not trade when the candle is bigger than 15 pips

PWR positive
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.

Trading times:
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)

Type: Zip Archive
Number of files: 4
Size: 196.5  KB
what is Scalping ?
Scalping is
  • 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

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