Hello Traders,
This my first thread in Forex Factory. I present my minimalistic strategy which brings me about 20 pips daily on average for the last three months. Forex scalping doesnt need to be complicated at all. This simple strategy with basic indicators that can be applied to low spread currency pairs. Use on the 1 min charts as indicators periods are tuned for this exact time frame.
Time frame:
Entry points:
Stop Loss and Take Profit:
All the Best!
This my first thread in Forex Factory. I present my minimalistic strategy which brings me about 20 pips daily on average for the last three months. Forex scalping doesnt need to be complicated at all. This simple strategy with basic indicators that can be applied to low spread currency pairs. Use on the 1 min charts as indicators periods are tuned for this exact time frame.
Time frame:
- 1 min. charts
Trading sessions:
- London session, US session
Currency pairs:
- Low spread (EUR/USD, USD/JPY)
Indicators:
- 12-period Exponential Moving Average (EMA 12) applied to the Close
- 26-period Exponential Moving Average (EMA 26) applied to the Close
- 55-period Moving Average (MA 55) applied to the Close
Entry Rules for Long Trades:
- 12 EMA crosses up the 26 EMA and 55 MA from below
- Open buy position
- Place protective stop-loss below the most recent swing low
Entry Rules for Short Trades:
- 12 EMA crosses down the 26 EMA and 55 MA from above
- Open sell position
- Place protective stop-loss above the most recent swing high
Exit Rules for Short and Long Trades:
- Watch Price Action. Exit trade when 7 to 15 pips profit.
You can look at any other indicator on top of that if it suits you. I often use DAILY PIVOT and check 15M time frame with WEEKLY PIVOT for wider information.
Indicators:
Entry points:
Stop Loss and Take Profit:
All the Best!