Forex Scalping Strategy

welcome my friend to this video tutorialon forex scalping strategy and it's a very very simple one I'm going to giveyou the simple basics and then I'll give you a couple of extra details that mayhelp you out to increase your win-loss ratio on this now this is a Forex scalpingstrategy that works so therefore notice we're not looking for a huge risk reward on it weare looking for a very very very good win-loss ratio so we're now some ofthese will give you a pretty good risk reward as well but that's not what we'relooking for and don't plan out of so if you get it great but again that's notour goal here alright so here's the powder and it's pretty simple first ofall you'll see that I've got Bollinger Bands let me show you the indicatorsthat I've got pull them up here for you so that you can see make sure you getall this right so I've got Bollinger Bands here and standard deviation of twoperiod 20 and I don't use the middle band so I've got that sent totransparent and instead the middle band I like to use the 15 EMA and that'll bemy black line all right so that's what you'll see there and there we go alrightnow that you know the parameters so here's what we're looking for the bottomline is we're looking for a bar to have a real body outside of the BollingerBands with these settings okay and that's going to be our signal for set upfor a trade and then I'll show you where I get into the trade so you see we getit going out here none of these bars against the real bodyso it's not just the highs it's not just the lows that's not we're looking forget off the real body in this case it's just a doji in this case we've got anentire red real body outside here we actually have a green body outside aswell so I want to show you that comes in a bit early there it doesn't it then weget a red bar red bar with a real body so that's whatwe're looking for that's our signal but not our trade we don't trade that barall right so what do we trade well here's what we trade we look for thatup and then we go over here and we say all right so we've got from the upperBollinger Band of the lower and then we wait for the market makes a littlehigher there and kind of go sideways here and then at this next low it doesnot touch the lower Bollinger Band all right so that is the that's where wewould enter same here we get our little pattern there outside the BollingerBands touches here does not touch here so again we make a higher high basicallywe're looking for either a it could be a little higher low equal low or a littlebit of a lower low without touching the Bollinger Bands I'll tell you myfavorite is this kind where you actually get a higher high and it does not touchthe Bollinger Band but again it could be any of those three you want basically asome sort of retest of that high some sort of retest of that low and but thekey is again it cannot touch the lower Bollinger Band with the upper BollingerBand depending on whether you're going long or short all right now the otherthing that I'll tell you is that it is a high probability trade the further alongin the move that it occurs so here we've got this kind of moving here there thereand then just there so if you wanted to count this you could maybe count one twothree that's kind of short worked out grid though here we go one two threefour five so that's even better in other words I don't want to necessarily tradethese if let's say for example we had a candlestick realbodygo outside the Bollinger Band right here because that would just be when impulsemove a single impulse move and the principle here is the same as the trendis your friend until the end so the longer the move continues the lesslikely it is to continue and therefore this expanded or extended move is lesslikely to continue the longer the move goes and that's the reason for thatprinciple and then finally we want to make sure that to the next tigertimeframe pull up your next area time frame use some sort of momentum intocater whatever you use to confirming your longer-term timeframe get for himwith a shorter term okay so you see here I'm using a five-minute chart you canuse this in various time intervals if you want I'm not saying there's any oneparticular one that's better than another five minutes against them forjust scalping looking for a few pips here and there five 10 pips no nosometimes again you can get a lot I mean this one worked really really well thisturned out to be you know a lot better than just a little scalp especially on afive-minute chart but this one no that one turned out to be just a bit of ascalp and we would get out of that like 15 pips or so so but hey better thankick in the groin so that's that hey let me show you one thing you want to avoidso here's an example where we just went down you know with one single impulsemove and we got a bar outside the Bollinger Band so you know we would belet then looking to go long here but we're not going to do that why becausethat's too early in the impulse move down so that's an example of thatillustration of why when you're early in a new impulse move and then it's morelikely for it to continue in with that direction and so we don't train againstit you don't want to treat against the dominant energy of the market rule E ina new trend so if we're gonna trade against the trend that which is reallywhat this type of treating is then we want to wait to where late in a trendthe odds are better that we're going to have success and the final filter thatwe want to avoid is when we get sideways markets like this so even if I got a andI don't think there are any candlesticks that completely go out no there aren'tby the way just for clarity to this this does not count what we need is theentire real body in other words the open in the close below the lower BollingerBand or above the upper Bollinger Band so again I'm very clear about that butwhen we're in this kind of market markets just kind of goingsideways a slow volatility that's not the type of action that we're lookingfor at all so in that type of market condition I would just not do anythingcertainly wouldn't well it might do something like a breakout trade orsomething like that but I'm not going to trade this particular forex scalpingstrategy so and try it out and you can combine this with other things like Isaid what I'm sharing with you is just a very simple concept we're looking for inexhaustion of energy that's really the principle behind this the mathematicalprinciple as well as the mass ecology principle is looking for an exhaustionof a market move and this is one way to identify it with a rule-based approachand then you're welcome to combine any other indicators chart patternscandlestick patterns and like I said the next Tiger time frame to confirm it thatyou're currently using along with us so if you found this helpfulI feel free to leave a comment below if you have any requests for future topicsleave those comments below as well give it a nice thumbs up that alwaysencourages me that continue to create more free tutorials for you and alsosure it with others share good things with good people so click the sharebutton below and finally I am offering one of my favorite trade strategiescalled the rubber band trade absolutely free and I want you to go and make somemoney try before you buy or well actually try and never buy becausethere's no charge for this trade at all and I'll give you the up trees the exitsall the rules for it's an objective rule based method based on a price patternaction than a I don't think anyone else teaches of this lease I've never seenanything else teach this particular prey structure so go get that by clicking onthe green icon in the top right hand corner of the video there and that'lltake you to a page where you can opt-in get the video for the rubberband tradestrategy along with some other great free tutorials one of my little minicourses absolutely free courtesy of Barry burns here at top dog trading you.

Source: Youtube

Forex Scalping Strategy

Forex scalping strategy that works on a 5 minute chart.

A simple forex scalping strategy demonstrated on a 5 min chart. You can use this to trade Forex for a living using this technique and system.

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Barry Burns
Top Dog Trading

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