Hi, I would like to know a winning scalping strategy and if anyanyone could please explain me the strategy. It would be great if someone can explain me a good scalping strategy.
2 Likes
Please note, my best strategy may not work for you! Tht’s the reality! By the way, Price Action is my most favorite trading system. Although, till now I am learning.
Go back through Sasan’s FX1 Channel… he had some good scalping setups early on… then they just got to complicated for mere mortals…
@ryugun46 Above is a collection to trial on a Demo Account… Some will work if traded with discipline… unfortunately most won’t as you will find when you trial them …as @LauChoKun has correctly stated, everyone trades differently…
Hope this is of some help and… Good Luck
1 Like
Hello, do you use this trading indicator personally?
Scalping is one of the short term trading strategy where your investment will be targeted on smaller trading lot with a view to earning smaller to moderate profit. Again as a trader you target will be to take the advantage of short term price fluctuations, majority of the time, trader closes their positions after 10 or 15 minutes of the entry. Please visit the Babypips school for better idea.
No… I primarily use an EA I developed (5 Tick Charts - 5/24) which uses a Mechanical Strategy… Price so much as flinches and I make money…
Scalping is not a good way to start, It may appear sexy to newbie traders, but it’s not going to give you consistent profit. I started FX using the first video strategy (Scalping the 5 min Chart) from Extraordinary Trading. Well worth having a look at her YouTube Channel as her methods do cater well for new traders.
The RSI Scalping Strategy works, the CCI Indicator can be used exactly the same way as the RSI Strategy.
The MA 200 is the most powerful Moving Average… so any strategy that contains a reference to it should be looked at. Just price crossing above and below an EMA200 on 15 min+ Chart will make you money.
You should be looking at Strong Weak Currency Analysis Strategy HERE against the JPY or HERE against the USD. Far simpler & safer way to trade for newbies.
You have to find what suits you… Hope this will be of some help…
1 Like
I hate to say this, but my advice for a beginner on a great scalping strategy is DON’T SCALP. Pure price action at such a low timeframe will eat you alive. It’s best to really devote your time to understanding how and why the markets move. You can make trades based on this, spend way less time actually watching charts, and Make more money.
I truly hope this helps,
Cris
4 Likes
Thanks mate, yes it is! Really, there is no way to copy others trading system.
Hey ryugun46!
I agree with CrisValenciana. Start on higher time frames. I’m no pro, but I do know that the lower (scalping) time frames can create a tremendous amount of stress and pressure to act quickly. For me, this is when I make costly mistakes.
The dailies while not super “exciting” has allowed me to focus on the setup as it develops, know when/where my trigger should appear, to analyze each candle as it develops in relation to the prior candles, SR etc…
I check the charts at the end of the NY session and I’m done. I have learned that slow and steady is the way for me - taming my impatience has been a challenge!
I look at the dailies as the Tai-Chi of Forex trading: Slow, deliberate and focused! 
This is my 2cents FWIW!
Good luck on your journey!
FR&L
1 Like
This is golden advice. Plus there is this tendency for new traders associate making tons of money with lots of quick trades. Its not that easy and some long term trend followers will probably do way better than you.
I was obsessed with scalping when I first started. When i took the exact same strategy (that i used to scalp) to a H4 / H1 chart and learned to “turn off the chart” I instantly became profitable.
Totally agree with the above. The fact is you don’t know yourself as a trader yet and you’re putting yourself in the most difficult time frame to act. Before deciding if scalping is for you take time to understand your personal habits.
Do you change your mind on trend direction every few hours/minutes?
Do you feel anxious to take profits when already in a winning trade?
Think about how you respond to your emotions before, during, and after a trade. Its entirely possible you’re built to be a scalper. My input here is just to take a step back and understand why you want to scalp. There are many highly profitable trading strategies, and the one that brings you the most profit is the one that fits with your personality.
I really agree on this stamen because I also have such a great experiment with this parameter on the D1.
You must have to start with lower investment and you should have to make a low bit on initial stage. At this stage you won’t have some knowledge about the market. You must have to do some research about the scalping. This is the best thing you have to do for the success.
1 Like