Do you know what I hate … people putting out “scalping systems” that are anything but that.
So, for the record … scalping is when you place SHORT TERM (ideally less than 5 minutes, but certainly less than 10) trades.
Almost always scalp trades have tight profit and stop loss locations set.
The idea is to find trades at points where there is a high likelihood of the trade going your way … if only for a brief time. Ideally, you want several of those.
To that end, I created UltiScalp. The two attached files give the needed information if you know where various files go. If you don’t, there is a click-by-click video 3prong.4sqa that gives you the installation process.
The video was put together pretty fast so don’t go expecting a blockbuster film or anything … but even the newest trader should be able to get everything in the right place pretty easily.
How the system works in a nutshell …
When you get a down arrow, place a short trade. When you get an up arrow place a long trade.
Trades should be with made with a 10 pip profit and stop loss.
Trade on a demo account at first for a few days because the arrows do repaint so it’ll take a few days of demo trading to get a feel for the indicator.
One more thing … this will work the best on a sideways market when you’ll get the most signals and they’ll be the most reliable.
You’ll get fewer signals on a trending market. When the market is trending, place scalps in the direction of the trend only. This will help any trend trading system you are using to become more profitable.
During a breakout, don’t expect ANY signals … but lets face it, breakouts don’t happen that often.
If you have any questions feel free to ask away.
UltiScalp.zip (7.02 KB)
UltiScalp.pdf (161 KB)
