- The strategy in detail
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The strategy in detail
The Trading Range FX Scalper strategy is a scalping strategy based on trading range break-outs after 15h The trading range is calculated on the basis of the highest and lowest market prices achieved during the first hours of the afternoon. The strategy focuses on the major forex pairs. The direction of the trade is determined by a combination of three trend indicators. Typical for a scalping strategy, the target is only a few pips. The Trading Range FX Scalper strategy draws a trading range in the afternoon based on the highest and lowest prices achieved between 13h00 and 15h Within this interval the most important economic numbers are published, often resulting in considerable exchange rate volatility.
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Traders who want another trading range, can, as usual, change the parameters in the designer dialog window. The parameter TradesPerDay indicates the maximum number of signals per day. The parameters DeltaUp and DeltaDown allow the users to modify the trading range. The standard setting is 0.
The parameters can also be changed via the chart. Click the relevant parameter and enter the value of your choice. When the market price breaks out of the trading range after 15h20 a position is opened at the market price. The market can break upwards out of the trading range -this is a buy signal- or downwards -this is a short sell signal-. Not every signal is accepted. When all three indicators are unanimously positive the background of the chart is green.
In this case a long position is bought when the market price breaks upwards out of the trading range. When all three indicators are unanimously negative the background of the chart is red. In this case a short position is sold when the market price breaks downwards out of the trading range. When the three trend indicators are not unanimous, the background of the chart is white. In this case every signal is rejected. Typical in scalping is the small target. In the case of the DAX index, for example, the target is 3 to 5 points.
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If the market price does not reach the target the position is closed at the market price at the open of the next candle. The trailing stop is only there for safety purposes. The stop has a distance of points and is in essence never triggered. Despite this, you still need to watch the markets throughout each minute of an entire session if you really want to have the best chances of scalping successfully.
If you are new, you may also have to choose from manual forex scalping or using an automated trading system that does the scalping for you within the parameters that you set. Naturally, manual scalping may be a lot more time consuming, though the use of automated systems usually comes at a price, and such systems may not always be supported by your forex broker. Managing risk during any type of forex trading is one of the most important aspects.
Forex Scalping -
This is something that becomes increasingly difficult as you move into the technique of forex scalping. Because scalping traders are dealing with such small market movements of as little as a few pips, they typically employ leveraged trading to magnify the gains and make scalping a sustainable trading style. A simple example is as follows:. You should be extra careful if trading on leverage in forex though, and particularly if you are scalping which relies on getting in and out of the position as quickly as possible.
A number of problems can occur here. The market may move again before you have time to execute the trade and exit the position, or your order may be subject to slippage which can occur in the forex market particularly during periods of high volume or volatility. Forex scalping is usually most utilized on the release of data or economic news that makes the market move in one direction or the other.
Having some experience and knowledge in forex trading in also essential in knowing how this type of news will impact the market.
127# Forex Scalper Trading system
The short answer here is, no. Forex scalping is not always permitted. It is generally considered to be completely legal regardless of the region or market in which you are trading, though each individual broker have their own powers of discretion when it comes to allowing forex scalping or not. One small factor that may change things is if you are opting to automate the scalping process. This typically requires the use of a forex trading bot or third-party software. While engaging in automated forex scalping, or other forms of automated forex trading mar certainly save you time, it is important to check whether these systems are both compatible and permitted by your broker.
Rounding up, it is clear that forex scalping is a popular trading method for many in the sector.
The Ultimate Forex Scalping Strategy Guide
Taking into account the attributes needed including the focus and level of attention to detail in markets traded, scalping is a technique that may best suit more experienced traders. Factoring into that, the probable need to trade on leverage, and the requirement to follow every market movement, as well as the potential high trade volumes involved, it becomes quite obvious that in order to engage in forex scalping to any degree of success, you should first devote some time to further learning, and growing as a forex trader.
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Forex Scalping — The Basics Forex scalping is a trading method that focuses on the smallest movements of a currency pairs or market, and the exploitation of this small movement by forex traders.