I would like to share my results about this strategy. So far I had really good success and I would like to thank Fav, DNA and Igor for posting this. I have slightly modified the entry criteria but the core indicators are the same. I use only 2 indicators (TMA 5 and Kijun-Sen). As with all the scalpers, broker choice with super low spread, no slippage and the ability to modify the order (within 10 pips of market) is a must. First I tried with Pepperstone but it didn't generate impressive results but as soon as I changed broker to ICM, the strategy worked really well and generated good returns even though I risked well below the recommemed trade size.
One thing to note, I prefer entering Stop orders and very rare I do Market order. On average, i expect 3 - 5 trades a day per pair on EU, EJ, UJ, GU. I was sick since last week so didn't trade much and missed really good setups. So far I only did demo trading because I have never traded scalpers before and once trade a little more, I plan to use this strategy on my live acct. I place very tight stops (5-10 pips) and no TP.
1 - TMA 5 (Uptrend)
2 - Kijun-Sen BELOW TMA 5 Median
3 - Price At or Below Kijun-Sen line OR between TMA 5 Median and Kijun-Sen line
4 - Enter Buy Stop Order 3-5 pips away from the price
1 - TMA 5 (Downtrend)
2 - Kijun-Sen ABOVE TMA 5 Median
3 - Price At or Above Kijun-Sen line OR between TMA 5 Median and Kijun-Sen line
4 - Enter Sell Stop Order 3-5 pips away from the price
Attached is the statement and some screenshots.
Let me know if there is any confusion and I will post more examples.