Forex Scalping Software and Indicators

James Stanley's "Fingertrap" Scalping Strategy (also good for longer term trading)

I posted this elsewhere a while back, but I thought I'd put it in /forex and not on the blog, because it's my absolute favourite tool in all of Forexland.
James Stanley is a (very good) trader and educator at DailyFX (Twitter: @JStanleyFX). He's also very friendly and helpful on Twitter if you have serious questions.
Here's the link to the original article but what I'm going to do is explain it in a little more detail, show you how James uses it, and then explain how I use it for finding entries on longer term trades and breakouts.
There's also this helpful video you can watch: http://www.youtube.com/watch?v=RrxOiAhIlaQ
Right, so before I explain what it is, here's a checklist for WHEN the Fingertrap strategy is effective:
If the answer to all those questions is yes, you're ready to go:
1: switch to an hourly or 2hr chart, so you can see what movement on the day is like. You should be able to spot a strong directional bias if there is one, and you may have already done analysis to find important support and resistance.
2: Add two indicators: an 8 period EMA (Exponential Moving Average) and a 34 period EMA. I don't know why those numbers, and different combinations might work better on different pairs (EUJPY tends to throw a lot of false signals with this, as does gold, so it's worth experimenting). We use EMAs and not SMAs because they respond more quickly. Here I'm looking at EUJPY on 2hr chart, on 26 April 2013):
http://i.imgur.com/9wqd36U.png
3: Is price clearly above or below BOTH moving averages (eg. it's a downtrend and price is below both, or an uptrend and it's above) AND has the 8 EMA crossed over the 34 EMA (crossed to the downside if you're looking at a downtrend). These two factors are a strong confirmation of a trend, if you need one.
4: Once you have confirmed that a trend is in place, switch to your preferred scalping timeframe. I usually use 5m or 1m charts. You'll now see that the 8EMA (which is the only one we're looking at from now on) hugs the price quite closely.
5: If we're in a downtrend, what we are looking for is for price to ideally break through some kind of support, and then to rebound to the 8EMA. It can push through it, even close a whole candle above it, but should eventually move back down below it.
This is your signal to enter short. As you can see from the chart below (same time, 5m chart), it's essential that you determine that there is a trend first and not just some jumping around.
http://i.imgur.com/pvjgeKg.png
6: The idea is to use relatively small trade sizes, and scale in and out of the trade rapidly. When price extends quite a bit away from the 8EMA, that's the time to take partial profits, wait for a rebound to the 8EMA, and then enter again.
7: The game ends when the 8EMA crosses the 34EMA again, and price is on the other side of both of them
The idea is that, even with strong moves, there are quick pullbacks. This strategy helps to give you an edge in determining where those pullbacks are likely to stop. It's not perfect, but no strategy is. The point is that it gives you a higher probability of entering at a good time (buying relatively low, or selling relatively high), and it also means you can have a lower risk entry (being closer to the last swing high).
Now, I don't get to do a lot of scalping because I have a day job, but I do use this for breakouts, and just any regular old entry as a matter of habit (unless I'm doing a fairly long term trade and 10 pips either way doesn't matter that much to me).
What I will do is wait for a breakout or a strong move in the direction I want. Then I put my Fingertrap template on, and wait for price to "reload" to the moving average before getting in, placing my stop above a nearby swing high. My stop will always be placed while thinking about how long I plan to hold the trade. If I'm looking for a move in GBP/USD from 1.56 down to 1.50, I'm not going to place my stop above the nearby swing high on the 5m chart - I'm going to place it around 1.5650. So you have to use your discretion obviously.
For example, I will be watching EUUSD very closely for a break of 1.3000 or 1.2950, and then employ it from there.
For scalping, the nearby swing high is definitely a good place to put it - if the trade goes that badly away from you, you definitely want to be out.
Give it a try, and let me know if you find it to be helpful! Let me know if you have any questions.
submitted by NormanConquest to Forex [link] [comments]

An Incredibly Easy 1-Minute Forex Scalping Strategy (The 3 ... Why I Never Use Forex Indicators  RSI  Trader TIps - YouTube Profitable Forex Scalping Indicator🔥 Forex Trading ... BEST INDICATOR FOR SCALPING! Forex indicators mt4! - YouTube FOREX SCALPING STRATEGIES - IS IT REALLY PROFITABLE? 8 Scalping Trading Tips To Become An Expert Short-Term ... FOREX: PAINFUL LESSONS TO BE PROFITABLE Best Forex Scalping Indicator For Scalping Trading ️ ... SIMPLE and PROFITABLE Forex Scalping Strategy! - YouTube

Forex Scalping Tips. Not every time of the day is suitable for scalping: There are 4 major market sessions: London, New York, Sydney and Tokyo session. To trade effectively scalper needs to learn behavior of a chosen currency pair and define most active sessions, even particular hours for this pair to be able to catch good price moves. Use leverage wisely: Use of high leverage is a ... Another thing they usually say when making your forex scalping strategies using the Parabolic SAR is to opt for a 5 min interval. This enables you to witness the micro trends enabling you to shine with this indicator. For 1 min chart you will experience too much of whipsaw, and in a 10 mins chart, you will experience a lot of volatility. So, 5 mins is the adequate choice. Many thriving forex traders use scalping programs and provide lower risk and high yield financial commitment option. Trades Every day: Average quantity of trades on a daily basis it’s got opened around the course with the account record. Legitimate forex robots usually demand a great deal of user input. What Which means is that the best person is far from being a clueless starter. The ideal ... Scalping Detector is the remaining device in order to help you to progressively increase your account amount and massive coins handy. What is Scalping Detector? Scalping Detector is a foolproof Forex buying and selling software that is 100% computerized and ready with superior functions. Created through Karl Dittmann, the system will automatically provide you with a warning when its algorithm ... Dear Trader If you’ve been trying to trade Forex and just haven’t been able to make good money from it, or if you are trading successfully but looking to improve your trading results even further, then please read this page carefully. Because my team and I have just released Scalping Detector. Forex scalping system:six indicators will find exact points with Bears or Bulls pressure Click to see more details. Forex Supreme Scalper is a combination of six indicators which were programmed to work along and confirm each other for pulling a trigger on entry.It also filters the sideway market and finds the exact point with Bears or Bulls pressure. 01. No swing trader, intraday trader or scalper. Only profitable and non-profitable trader. 02. The market can’t beat a trader who never quits. The Forex Scalping Indicators MT4 is very meant to help analyze short-term price fluctuations. It's one of the very extensively used by many active traders on the volume indicator mt4 market for the Meta Trader platform. For the long-term investors, the scalping indicator might help determine good points to enter or exit by helping in speculating on future price levels or trends through the ... NO indicators #forex trading strategy that helped me quit my job. Trading without indicators with pure price action, support and resistance. Tips on how to … 🔴 About: AM Trading Tips is a YouTube Channel, where you will find Binary And Forex Trading Systems, Indicators, Robot, EA, Trading Stratagy And Trading Educational Guide videos, New Video is Posted Every Monday And Thursday At 15 GMT 🙂 Thanks For Watching Video, am trading tips amtradingtips

[index] [7695] [13857] [2554] [18889] [27626] [11847] [12819] [3221] [27889] [23999]

An Incredibly Easy 1-Minute Forex Scalping Strategy (The 3 ...

scalping system scalping indicator Dream - Motivational Video Mates M MOTIVATION - DON'T QUIT RedFrost Motivation scalping strategy pdf scalping ea scalping robot scalping techniques scalper ea ... Watch this lesson to discover the best scalping trading strategy that could help you become more successful when trading the Forex or stock market. In this v... You can buy the FULL version of the robot from the link http://tutshara.com.ua/BS/ ===== DOWNLOAD our new Battle... Hello Trader Characteristics of Indicator 1. Platform - Metatrader 4. 2. Asset - Major Currency Pair. 3. Candle Timeframe - 5 Min, 15 Min. 4. Trading Time - ... ★★★ Recommended For You ★★★ Reliable Forex Broker with a ★Profit of up to 100%★ http://bit.ly/2sohvSu Never Miss This Great Trading Opportunity Again ... In this video you will find out:• What is scalping trading and what does scalping mean in trading• How to scalp forex and stock market successfully during bear ... Shopping. Tap to unmute. If playback doesn't begin shortly, try restarting your device. Up Next. Cancel. Autoplay is paused. You're signed out. Videos you watch may be added to the TV's watch ... in this video I will show you some live trades and also talk to you about how if feels to just want to quit. It took me such a long time, but it paid off. URL: wwwsuperezforex.com Email ... Learn our Other Scalping Strategy: https://bit.ly/2xol8aS In this video, I will walk you through a simple forex scalping strategy I've been using successfull...

http://arab-binary-option.brigvigootidig.tk