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Best scalping strategy

  • #1
  • First Post: Jul 10, 2009 7:56pm Jul 10, 2009 7:56pm
Very simply put, I'm looking at various scalping strategies to use in between my main (longer term) strategy. I'm currently analyzsing a strategy based on an indicator call 3 level ZZ Semafor on the 5 min TF which looks promising and will post more details if anyone is interest.

But more important, I'd like people on here to post their best scalping strategies to feel free to share.

Let us scapl together,
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  • #2
  • Jul 10, 2009 8:59pm Jul 10, 2009 8:59pm
Simple scalping strategy.

Get any price which ends in 000 (4 digit), or 0000 (5 digit).

Place pending order above current price and below current price at the nearest psych points. TP/SL of 10 pips.
  • #3
  • Jul 11, 2009 6:12am Jul 11, 2009 6:12am
Quoting Ronald Raygun
Simple scalping strategy.

Get any price which ends in 000 (4 digit), or 0000 (5 digit).

Place pending order above current price and below current price at the nearest psych points. TP/SL of 10 pips.
what do you mean by 0000(4 digit) or 0000 (5 digit)? do you mean like 1.6000,1.5000,1.4000,1.3000 or 1.40000,1.50000 et.c.?
we cannot succeed without a well defined risk management.
  • #4
  • Jul 11, 2009 7:20am Jul 11, 2009 7:20am
Yes he obviously refers to round numbers. With 5 Digits you have one additional 0 of course.
  • #5
  • Jul 11, 2009 9:15am Jul 11, 2009 9:15am
Yep.

I don't bother using the midpoints between round numbers. This is more a supplemental strategy to my other ones.

For a 4 digit yen pair: xx0.00
For a 4 digit non-yen pair: x.x000

For a 5 digit yen pair: xx0.000
For a 5 digit non-yen pair: x.x0000

The reasoning is simple enough. Those numbers are easier to remember.
  • #6
  • Jul 11, 2009 11:03am Jul 11, 2009 11:03am
Quoting Ronald Raygun
Yep.

I don't bother using the midpoints between round numbers. This is more a supplemental strategy to my other ones.

For a 4 digit yen pair: xx0.00
For a 4 digit non-yen pair: x.x000

For a 5 digit yen pair: xx0.000
For a 5 digit non-yen pair: x.x0000

The reasoning is simple enough. Those numbers are easier to remember.
Hmm...Is this really a scalping sttategy?It is obvious that this set-up may not evolve even in a whole week.So is looking for 10 pips in a whole week a scalping method?I think scalping is a process or practice wherein a trader execute trades with and target like 10 to 30 pips in a small move that can occcur and re-occur in like two or more times in a day.Or am I wrong?
we cannot succeed without a well defined risk management.
  • #7
  • Jul 11, 2009 11:10am Jul 11, 2009 11:10am
Scalping as I define it:

Taking advantage of high probability repeated small inconsistencies or patterns in a given market.



By my definition, a scalp setup is a repeated setup caused by an inconsistency in the market. There could be as much as a month between scalps by my definition, which suits me perfectly. I use several different system types in my trading, so I can afford to wait for the next scalp setup.
  • #8
  • Jul 11, 2009 11:22am Jul 11, 2009 11:22am
Trading more often does not necessarily make you more successful. It's all about your pip value. One 80% trade a week for 10 pips at $100 a pip averages $600 a week. Obviously this is an extreme example, most people trade more often, but the point is still relevant. I'm working on a scalping method right now using RSI(6) divergence and round numbers to net between 10 and twenty pips. My problem is that I trade more often than I should.

It's amazing how uninteresting simple profitable trading can be. We have to ruin it by trading C setups to keep the thrill.
  • #9
  • Jul 11, 2009 11:40am Jul 11, 2009 11:40am
Quoting Ronald Raygun
Scalping as I define it:

Taking advantage of high probability repeated small inconsistencies or patterns in a given market.



By my definition, a scalp setup is a repeated setup caused by an inconsistency in the market. There could be as much as a month between scalps by my definition, which suits me perfectly. I use several different system types in my trading, so I can afford to wait for the next scalp setup.
Ok sir,I understand that you have adequate trading systems in your arsenal.But I don`t think I can trade with sl 10 pips and tp 10 pips.I will lose my confidence.
we cannot succeed without a well defined risk management.
  • #10
  • Jul 11, 2009 11:43am Jul 11, 2009 11:43am
Quoting skissors
Trading more often does not necessarily make you more successful. It's all about your pip value. One 80% trade a week for 10 pips at $100 a pip averages $600 a week. Obviously this is an extreme example, most people trade more often, but the point is still relevant. I'm working on a scalping method right now using RSI(6) divergence and round numbers to net between 10 and twenty pips. My problem is that I trade more often than I should.

It's amazing how uninteresting simple profitable trading can be. We have to ruin it by trading C setups to keep...
May God help me to know how to scalp for 10 pips...My problem is i cannot set sl less than 50 pips.Iam a swing trader actually and not that Iam already there.That is why Iam curious to know.
we cannot succeed without a well defined risk management.
  • #11
  • Jul 11, 2009 11:51am Jul 11, 2009 11:51am
Quoting bosun2007
Ok sir,I understand that you have adequate trading systems in your arsenal.But I don`t think I can trade with sl 10 pips and tp 10 pips.I will lose my confidence.
Well, you can do two things...

 

  1. Increase your confidence
  2. Find another system.

I did both.

  • #12
  • Edited 7:34pm Jul 21, 2009 7:15pm | Edited 7:34pm
On a demo account try using the waddah attar explosion indicator with a 4ema and 8ema on the 1 min chart. On small pip spread currency pairs, but be ready to get out as soon as your in the profit or it can turn around quickly. I also use the quick trailing EA to enter with a set stop loss. I turn the 3 trailing options off. If anyone tries this strat let me know your results and any suggestions to make it better...
  • #13
  • Mar 24, 2010 1:56pm Mar 24, 2010 1:56pm
Waddah Attar scalping indicator is very interesting. As i see it, it generates 3-5 trades per day at 5min charts. With good MM its a winner. Has anyone have any experience with it?
  • #14
  • Mar 28, 2010 8:14am Mar 28, 2010 8:14am
Quoting Xander Moss
Waddah Attar scalping indicator is very interesting. As i see it, it generates 3-5 trades per day at 5min charts. With good MM its a winner. Has anyone have any experience with it?
Where does one get hold of this? Have you recorded live test results?

Thanks
  • #15
  • Mar 28, 2010 9:54pm Mar 28, 2010 9:54pm
Quoting Ronald Raygun
Simple scalping strategy.

Get any price which ends in 000 (4 digit), or 0000 (5 digit).

Place pending order above current price and below current price at the nearest psych points. TP/SL of 10 pips.
Hahaha is still working the round numbers as supports and resistances? It would be interesting to backtest it, when have time I will write the code, it would be very simple...

for example for the previous 5 years in EURUSD:
for(int i=125, i<161, i++)
double price=i/100
ordersend(op_buy/sellstop, price, SL, TP)... with expiry date at the end of the week, at the begining do the same another time...

I prefer do the same with strong supports and resistances of the current or the previous day, if your broker allows hedging you can just buy and sell at the same price in the S/R and put SL=3 pips and TP=10 pips for example, the spread do the rest (it sells one pip below the resistance and buys one pip above the same)
  • #16
  • Oct 29, 2017 4:11pm Oct 29, 2017 4:11pm
The author of this thread asked for good scalping strategies.
I read through all the post and I have not found any.

To start it up again, does anyone now have a good scalping strategy you would like to share?

Thank you
  • #17
  • Oct 31, 2017 6:36am Oct 31, 2017 6:36am
Scalping is a trading approach that brings profit very rapidly than others trading techniques. It can be really profitable if you can make sure most lowest trading spreads. But really, it contains huge risk for all time.
  • #18
  • Oct 31, 2017 11:49am Oct 31, 2017 11:49am
Quoting ur4xsignal
The author of this thread asked for good scalping strategies. I read through all the post and I have not found any. To start it up again, does anyone now have a good scalping strategy you would like to share? Thank you
i like to scalp reversals on sup/res and currency strength.
but if you are looking for full system explanations, and not into some figuring out on your own, perhaps best to search for something in the systems section.
only beware, many of those amazing systems arent working as advertised, probably.
there is always, always another trade!!
  • #19
  • Oct 31, 2017 12:50pm Oct 31, 2017 12:50pm
this 3Zz semafor repaints and my feeling is that we are trading against the computer these days,scalping is very dangerous if you are trading big lots.Good luck.
  • #20
  • Edited Nov 2, 2017 4:29am Nov 1, 2017 6:32pm | Edited Nov 2, 2017 4:29am
Hi,

Let me share my best way of "scalping".

1. I use different pairs at the same time,
2. I use wide bollinger bands (35 - 50, 3 StdDev) to hunt for reversals,
3. I don't use SLs,
4. My SL is time limit (e.g. max 20 - 24 hours for H1 charts, from beginning to the end of scalping),
5. I use small positions, and I am basketing if they go in not desired direction
6. The most important: I use an EA that is automatically closing each position with small TP, and closes all positions, no matter + or -, when Equity reaches my desired level (e.g. +5% - +15%) of starting value.

This is not a "no brainer" kind of strategy, but after some exercise is sooo great - developed myself, and I am very proud of!!
If somebody is interested I can tell more about it!

Regards!
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