Before I explain my simple scalping system, I have to thank Chelo who posted ''Scalping system 7''. I love the simplicity scalper the system, and it seems to work pretty well! However, I was not fully satisfied about the entry-rules and the stop loss. Prices can move up and up and up between BB and BB So I thought about tuning the system up a little bit, making the entries more reliable. The entry rule stays the same, when price crosses at least half way to the upper blue bollinger band, we sell.
Price will retrace to the middle red line MA This is where we take profit! But, ONLY sell when RSI is above 70 and the Full Stochastics almost hit the 80 line. Opposite story for a long entry! I don't use stop losses with this system, because especially on 5M time frame entries are nearly almost a success.
When prices go the wrong way, I just double my bet! I take profit when price nearly reaches the MA50 during a retracement. Having patient is very important when using this scalping system! Noticed you mentioned only about Blue and Yellow BB, what about the Red BB dev. What are they for? You will get burned most of the time. No matter how many deviations you have. On the rules, you have to have a hard stop. That is just good money management sense. So both indicators have to be overbought and come back down for there to be a valid signal.
I have seen cases where the market keeps moving. Bands don't just assume once it reaches oversold to immediately sell. You will be in front of the computer all day and night for a couple of trades.
Testing sec bands right now. It works out pretty good for 3 pips. Look at the down move that happened. Hi there, my name is Hessel van der Hoeven and I'm from Holland. I submitted this strategy four scalper ago without being signed up for any forum or scalper like that. This explains why I wasn't able to add a Username for instance. I was wondering if this could be changed?
I would like to see my name above this scalping system. About the system then Newboy, when prices reach the Red BB, a new entry is even more reliable. Usually, price won't reach the Red BB, but when it does, you have a very nice entry point! Waiting for both indicators to cross is a serious option, it will make entries more secure. However, bollinger could miss a few pips by waiting for the indicators to cross.
The question is, how much risk are you willing to take in a trade. When you're not fully confident of a new possible entry, just wait for the indicators to cross. This looks good to me but I'm not clear on the entry. What exactly is "halfway up to the upper blue bollinger band.
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Who's online There are currently 6 users online. Submitted by User on April 15, - Submitted by Hessel Currency: All credits to Chelo! Hi User, Noticed you. Hi User, Noticed you mentioned only about Blue and Yellow BB, what about the Red BB dev. Make sure you bollinger low spreads. Hi there, my name is Hessel. Hi, can you, please, make. Hi, can you, please, make an expert advisor? Thx kacenkabila at seznam.
This looks good to me but. DailyFX Dukascopy Saxobank InstaForex FSR Forum. Free e-books Currency Index Forex bonus Bands course. How To Double The Account In 1 Day? Home Scalping system 14 EURUSD scalping with Bollinger Bands Submitted by User on April 15, - DailyFX Dukascopy Saxobank InstaForex.