Hey guys, i'm normally a swing trader and use the following strategy displayed at another thread i have: https://www.forexfactory.com/showthread.php?t=859423
I have another account for scalping, where i use the 5m chart to apply some simple rules
RULES:
- Usually 5m tf
- Wait for candle patterns
- Touch of Bolling Bands
- BB middle band (20ma) must be under the 50 ema for short or over for long
- RSI must be overbought for short and oversold for long
TIPS:
My main patterns are: Hammer, Doji, Spinng Top/bottom, Star.
INDICATORS:
RSI: 5 periods, close, overbout at 80, oversold at 20
BB: 20 period, 2.000 deviation, close
EMA: 50 exponencial moving average
TRADE MANAGEMENT
-Since it is a scalp strategy i usually go 1:1 Risk-Reward ratio,
-If the trend is clear i go for band to band TP.
-Sl is under the pattern + 1 or 2 pips for long, and over the pattern considering the spread
- Wait for pattern to validate.
I have another account for scalping, where i use the 5m chart to apply some simple rules
RULES:
- Usually 5m tf
- Wait for candle patterns
- Touch of Bolling Bands
- BB middle band (20ma) must be under the 50 ema for short or over for long
- RSI must be overbought for short and oversold for long
TIPS:
My main patterns are: Hammer, Doji, Spinng Top/bottom, Star.
INDICATORS:
RSI: 5 periods, close, overbout at 80, oversold at 20
BB: 20 period, 2.000 deviation, close
EMA: 50 exponencial moving average
TRADE MANAGEMENT
-Since it is a scalp strategy i usually go 1:1 Risk-Reward ratio,
-If the trend is clear i go for band to band TP.
-Sl is under the pattern + 1 or 2 pips for long, and over the pattern considering the spread
- Wait for pattern to validate.