Daily extreme - FOREX scalping strategy

My forex strategy is suitable for busy people with lack of time. This setup takes just couple of minutes a day and it brings 5 pips / day / currency pair. Strategy can beeasilyl tested on MT 4 chart with pencil and paper (see for yourself).

 

Forex strategy rules:

On MT4

Apply EMA (Exponential moving average) 5 on 15 min time frame.

 

Place pending orders:

  • Buy: Max (high) of previous day marked by EMA 5 indicator.

  • Sell: Min (low) of previous day marked by EMA 5 indicator.

We do not place our pending orders on price high/low but instead on high/low marked by EMA. We do so, simply because it proved to be a better entry in back testing.

 

 

Notes to the forex strategy

We place orders for the current day before midnight,.

After position entry we cancel pending order at the opposite side.

If both position are left untriggered by the end of next day, we leave them open and wait until one of them gets triggered. Meanwhile, we add another orders every day.

 

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

 

Take profit: 5 pips + average spread

Stop loss : 30 pips.

 

I know what people will say : Risk reward ratio is invalid.

There is no such thing ! Realize that winning trades are much more frequent. By artificially widening profits and narrowing losses, we put our self in position where we take too many frequent losses. In the end, only profit counts.

 

 

 

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ABOUT US

THEFOREXKINGS

“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

—  Marian, Proprietor of TheForexkings.com