Hello Everyone….
I am basically Not a Scalper but I was testing my Scalping method since from last month…So far its results are very good but personally I am using my this system which is working great for me with High win profitability & tight SL.
http://www.forexfactory.com/showthread.php?t=54614
I have posted all the results & detail of my previous system in its thread…
Anyways Scalping is a different style of trading but its sounds really great to get some quick pips with my standard account coz I have both mini & standard account. If I target 30+ pips then I prefer to use my mini account with five mini lots means $5 per pip…I only use my standard account (With two standard lots means $20 per pip)only in those trades in which I am 100% sure to win with target of just 15/20 pips. Anyways let’s talk about my scalping method which is really very simple & easy to use…
Indicators…
1) P-SAR Dots = 0.1, 0.11
2) RSI = 21 + Put moving average (MA) = 10 in it….
See screenshot No # 01
Pairs = All JPY,s & Non Volatile Pairs also but on 5-Minutes chart…
Recommended Broker = Any ECN or any broker with tight spread…
Time Frame = 1- minute Chart (Volatile Pairs) & 5-Minutes Chart (Non Volatile Pairs)…
Charting Package = Any Including MT4….
Entry!!!
Enter only for Short when RSI = 21 crossed MA =10 down clearly & first P-SAR Dot appears above the candle & vice versa for Long…
Exit!!!
When apposite P-SAR Dot For Example for long appears above the candle & RSI Crossed down MA... But Exit only when both triggers trigged to exit at the same time. Don’t exit if one exit signal trigged but other didn’t otherwise just carry on & Vice versa for Short… (For More See Screenshots)…
SL = When apposite P-SAR Dot appears & RSI Crossed MA & Both Happened at the same time…
TP = (My Style of Taking TP) = 3- Pips for Normal Brokers per trade & 5- Pips for ECN Brokers per trade on 1-Minute chart & TP= 5/7 Pips on 5-Minutes Chart …
= Or You May also Carry on Taking Pips until apposite P-SAR Dot Appears & RSI Crossed MA in a same time…
Time to Scalp = Anytime…
Recommended Time = 5 – GMT or American Time…
Method No # 02
Indicators...
1) P-SAR Dots = 0.1 , 0.11
2) RSI = 7
Entry...
When you see the clear crossing of RSI of 50-Level up or down for long and short respectively and P-SAR dot in a right direction...
Exit...
When apposite dot appears with apposite RSI,s 50- Level crossing and both triggers trigged to exit at the same time...
SL = when apposite P-SAR dot appears with RSI in its direction...
Timeframe = 1-Minutes or 5- Minutes Only
See screen shot No # 2 & 3
Precautions!!!
A) Avoid entering Before & After 15-Minutes of Any News time…
B) Enter only when you see RSI crossed MA clearly with P-SAR Dot in its Favor to Enter for Long & Short.( Method No # 01)
C) Enter only when you see the clear crossing of RSI of 50-Level and DOTs in right place...( Method No # 02)
D) Without Good Internet Connection Speed Don’t Use This System. Coz You have to be quick for Scalping Specially On one minutes Chart …
E) Don’t Be Lazy you have to be active with our good active senses…
Some of My Own Idea’s!!!
I am using this system for only targeting profit for 3 –Pips per Trade on one minute chart Coz everything sometimes happened so quick that it becomes difficult for us to understand specially on one minutes chart & for volatile pairs & also targeting 3-Pips per single trade is safe & secure coz we may can have lot of chances in a day to scalp But you may carry on until apposite P-SAR Dot appears & RSI Crossed MA & both triggers to exit trigged at the same time( Method No # 1) & RSI Crossed 50 -Level clearly with P-SAR dot in right direction and both triggers to exit at the sametime( Method No #2) but only at your own risk. I am not using ECN Broker Coz I don’t like their Trading platform & also I am not a scalper and this is not my style of trading & ECN trading platform didn’t seems to me user-friendly. The Best Pair Seems fit to my system is G/J & E/J….but other JPY Related pairs can also be used…First Try my scalping system on demo then on Real…Also main purpose of method No # 2 is to avoide from false signals coz if u adopped method no one then you may find lot of signals and sometimes it maybe difficult to enter while waiting for RSI to cross specially on one minute chart but method No two is so simple and easy signals may come again and again but it dosen't means to enter in all i think when we have series of long candles like 5/6 or more and then RSI Crossed down 50-level with dots in right place then try to enter in these sort of scalps trades & viceversa for long the best way is a trend lines but if you draw them wrong then they may create trouble for u and also make you confuse but if you are expert to draw them then i think they might be the best weapon for you & I think best scalping time is US Time in which you may find some valid signals anyway i have tried my best to make this system more easy but if you feel with some of your own additional indicators if this system works for you then i,ll be glad …Also if you want to do scalping then concentrate on one pair at the time…Don’t concentrate here & there , Don’t be greedy… Also the only purpose of using one minute chart is a minimum loosing pips in case of SL…I think One Minute chart is best for Volatile pairs & five minutes chart is best for non volatile pairs But you can use any time frames like one or five minutes but not more than that but only at your own risk …
GOOOD LUCK!!!
Umair….
I am basically Not a Scalper but I was testing my Scalping method since from last month…So far its results are very good but personally I am using my this system which is working great for me with High win profitability & tight SL.
http://www.forexfactory.com/showthread.php?t=54614
I have posted all the results & detail of my previous system in its thread…
Anyways Scalping is a different style of trading but its sounds really great to get some quick pips with my standard account coz I have both mini & standard account. If I target 30+ pips then I prefer to use my mini account with five mini lots means $5 per pip…I only use my standard account (With two standard lots means $20 per pip)only in those trades in which I am 100% sure to win with target of just 15/20 pips. Anyways let’s talk about my scalping method which is really very simple & easy to use…
Indicators…
1) P-SAR Dots = 0.1, 0.11
2) RSI = 21 + Put moving average (MA) = 10 in it….
See screenshot No # 01
Pairs = All JPY,s & Non Volatile Pairs also but on 5-Minutes chart…
Recommended Broker = Any ECN or any broker with tight spread…
Time Frame = 1- minute Chart (Volatile Pairs) & 5-Minutes Chart (Non Volatile Pairs)…
Charting Package = Any Including MT4….
Entry!!!
Enter only for Short when RSI = 21 crossed MA =10 down clearly & first P-SAR Dot appears above the candle & vice versa for Long…
Exit!!!
When apposite P-SAR Dot For Example for long appears above the candle & RSI Crossed down MA... But Exit only when both triggers trigged to exit at the same time. Don’t exit if one exit signal trigged but other didn’t otherwise just carry on & Vice versa for Short… (For More See Screenshots)…
SL = When apposite P-SAR Dot appears & RSI Crossed MA & Both Happened at the same time…
TP = (My Style of Taking TP) = 3- Pips for Normal Brokers per trade & 5- Pips for ECN Brokers per trade on 1-Minute chart & TP= 5/7 Pips on 5-Minutes Chart …
= Or You May also Carry on Taking Pips until apposite P-SAR Dot Appears & RSI Crossed MA in a same time…
Time to Scalp = Anytime…
Recommended Time = 5 – GMT or American Time…
Method No # 02
Indicators...
1) P-SAR Dots = 0.1 , 0.11
2) RSI = 7
Entry...
When you see the clear crossing of RSI of 50-Level up or down for long and short respectively and P-SAR dot in a right direction...
Exit...
When apposite dot appears with apposite RSI,s 50- Level crossing and both triggers trigged to exit at the same time...
SL = when apposite P-SAR dot appears with RSI in its direction...
Timeframe = 1-Minutes or 5- Minutes Only
See screen shot No # 2 & 3
Precautions!!!
A) Avoid entering Before & After 15-Minutes of Any News time…
B) Enter only when you see RSI crossed MA clearly with P-SAR Dot in its Favor to Enter for Long & Short.( Method No # 01)
C) Enter only when you see the clear crossing of RSI of 50-Level and DOTs in right place...( Method No # 02)
D) Without Good Internet Connection Speed Don’t Use This System. Coz You have to be quick for Scalping Specially On one minutes Chart …
E) Don’t Be Lazy you have to be active with our good active senses…
Some of My Own Idea’s!!!
I am using this system for only targeting profit for 3 –Pips per Trade on one minute chart Coz everything sometimes happened so quick that it becomes difficult for us to understand specially on one minutes chart & for volatile pairs & also targeting 3-Pips per single trade is safe & secure coz we may can have lot of chances in a day to scalp But you may carry on until apposite P-SAR Dot appears & RSI Crossed MA & both triggers to exit trigged at the same time( Method No # 1) & RSI Crossed 50 -Level clearly with P-SAR dot in right direction and both triggers to exit at the sametime( Method No #2) but only at your own risk. I am not using ECN Broker Coz I don’t like their Trading platform & also I am not a scalper and this is not my style of trading & ECN trading platform didn’t seems to me user-friendly. The Best Pair Seems fit to my system is G/J & E/J….but other JPY Related pairs can also be used…First Try my scalping system on demo then on Real…Also main purpose of method No # 2 is to avoide from false signals coz if u adopped method no one then you may find lot of signals and sometimes it maybe difficult to enter while waiting for RSI to cross specially on one minute chart but method No two is so simple and easy signals may come again and again but it dosen't means to enter in all i think when we have series of long candles like 5/6 or more and then RSI Crossed down 50-level with dots in right place then try to enter in these sort of scalps trades & viceversa for long the best way is a trend lines but if you draw them wrong then they may create trouble for u and also make you confuse but if you are expert to draw them then i think they might be the best weapon for you & I think best scalping time is US Time in which you may find some valid signals anyway i have tried my best to make this system more easy but if you feel with some of your own additional indicators if this system works for you then i,ll be glad …Also if you want to do scalping then concentrate on one pair at the time…Don’t concentrate here & there , Don’t be greedy… Also the only purpose of using one minute chart is a minimum loosing pips in case of SL…I think One Minute chart is best for Volatile pairs & five minutes chart is best for non volatile pairs But you can use any time frames like one or five minutes but not more than that but only at your own risk …
GOOOD LUCK!!!
Umair….
