Free Easy Accurate Forex ScalpingTrading System – Scalping indicator system is a trend following trading system for intraday trading. On line there are various setup of this system.
Time Frame : 1 min, 5 min. 15Min.
Markets currency pairs (majors) and Indicies.
- Identify a current trend. (Remember? Trend is your friend?)
- Ignore all signals against a currenttrend!
- Trend is up – but you get a “sell” signal ( ignore it!)
- Wait for a “buy” signal to enter. This is the most important rule #1, if you follow it – you will have no losing trades at all.
The most important rule #2: do not trade and do not use the indicator on a side trend. This is “MUST follow” rule#2. If you DON’T follow or ignore the rules above – good results are not guaranteed..!
The Free Scalping Indicator generates trades it changes colors. To use the Free Scalping Indicator © to generate signals:
- Long trades occur when the Free Scalping Indicator changes color from Red to Yellow. (Red to Green) (ZERO line crosses depends by indicator in the folder there are two versions). Heiken Ashi candles blue, XB4 blu bars and above 0 line.
- Short trades occur when the Free Scalping Indicator Changes color from Green to Red. (ZERO line crosses depends by indicator in the folder there are two versions). Heiken Ashi candles red, XB4 red bars and below 0 line.
Place your stop loss 5 pip below the previous candle For long trades. Place your stop loss 5 pip above the previous candle, For short trades. Exit trades when the Free Scalping Indicator Indicator issues the oppositetrading signal. This ensures that you trade with maximum profits and right before the market reverses.
Another exit mechanism which is highly effective is to exit near strong support or resistance levels. It is a method that generates exits earlier, so you take profits early.
Tips-IMPORTANT: Make sure to trade only follow a currect trend! It will cut ALL bad trades! Never place a trade against a trend.
Example: If the current trend is up and the indicator shows “BUY” signal – place a trade. If the current trend is up and the indicator shows “SELL” signal – NO TRADE! Wait for the next “BUY” signal… Stay away from using the signals and open trades on unclear trends or side trends.