10 pips FOREX scalping strategy

This forex strategy goes for a humble profit of 10 pips. Fortunately it manages to get it 97 percent of the time. The rest is reasonable price to pay for doing profitable business.

 

Indicator used in forex strategy

  • Fractals forex indicator. Fractals are used to determine local max/min of previous swing. Once drawn fractals offer reliable information on market wave structure. As such they do not offer any additional information except ability to visualize price swing. Thanks to fractals we are also able to test the strategy on historical data. In this forex strategy they will be used to mark the price suitable for pending order placement.

  • ADX (average directional movement index) 60. ADX is used to determine trend direction and its momentum. Our scalping position will be successful thanks to going with trend and following its momentum.

Strategy is traded in 1 H chart of EURUSD. Avoid volatile conditions with spread over 1 pip.

 

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.

 

Forex strategy rules

 

BUY

Green ADX line trending above red. Blue (main) ADX line is rising and it is above 15 (yellow) line. This will be considered to be an uptrend with growing upwards momentum. We will enter only long trades.

 

Signal.

Bearish fractal closed. We place pending buy order at the high price marked by fractal. Stop loss is placed on low reached between signal high and our entry,

Take profit: 10pips.

 

SELL

Green ADX line trending below red. Blue (main) ADX line is rising, and it is above 15 (yellow) line. This will be considered to be a downtrend with growing downwards momentum. We will enter only short trades.

 

Signal.

Bullish fractal closed. We place pending sell order at the high price marked by fractal. Stop loss is placed on high reached between signal low and our entry,

Take profit: 10pips.

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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