I worked my way through Babypips and after months I’m profitable on a breakout scalp strategy (trades usually last a few minutes, only seconds on rare occasions) however this works on the US indices, but I’d like to have a strategy for Forex too.
My current one involves using S&R levels with a 500 EMA and VWAP and works pretty well (+10% in 3 weeks) but as it only works on one index it doesn’t allow me much diversity, the trade either works or doesn’t and I’m at the mercy of the market, my real saving edge is a VERY rigid risk management strategy inspired by Michael Marcus.
If it helps, I prefer very mechanical strategies where everything is clearly defined, for example I use a trailing stop on my current strategy where I chase strong candles in my direction and accept whatever I get from.the market, sometimes its 1% sometimes its 5%, but it’s working for me.
My schedule allows me to trade the UK/US cross on the market.
Any help would be appreciated and look forward to the discussion!
Do you read the articles here?
They run a couple systems on their own. here’s one recently, but they’ve had it since like 2017/2018 I think.
The system details are here. Not sure about the timeframe though.
Thanks for the links, will check them out.
I do read the articles, but it’s easy for things to get swamped in the strategy section and often starting a conversation like this can cut through a lot of the noise.
If you picked scalping as your main strategy then it will be quite hard to boost your deposit on fx market, you know. I guess scalping is more preferable for fixed time trading, mainly because it already offers fixed time for scalpers. However, if you’ve decided to pick fx market then you’d better pay attention to some various indicators or oscillators like stochastics, then you have to combine it with any other indicator like sma or macd. What you really need is testing. You should test all the strategies you will build as it will bring you more profit than you will randomly make deals, I hope you’re quite trained trder hence such issues won’t reach you.
If your system works - why change ? There is no Holy Grail.