FREE FOREX STRATEGIES
Forex brokers comparison

Scalping system #21 (Utmost simple scalping)

Submitted by Rudy

Hi Edward, this is maybe the utmost simple scalping strat there can be:

chartsetup = H1,
downcandle = red,
up candle = green.

Now, whenever bar collor changes, go in the direction of latest bar. Take some pips (scalp), and wait for another bar collor change. Thats it = kis !!

My entries:
go long if price breaks high previous bar high (green), go short if price breaks low previous bar low (red).

TP an SL : personel preferences.

Goodluck
Best regards, Rudy

Rudy,
I like it.
Will test.

Regards,
Reddy

Rudy,

What if colour goes from red to green, but the next colour does not break the high of the previous candle ( the green one). Do you still wait for a break on the next candle? Or the one after that? Or do you just for the colour to change red?

Also when you say "high" do you mean the close of the candle? or do you also include the twig?
Have traded this for extended periods ?
Regards

Claude

U seem to b a stupid person! keep ur strategy with you , dont post it and get laughed at u!

User,

Whatever your name is. You should work on your English and stop using teenager lingo instead of insulting well meaning people.

Claude

Thank you Claude that is almost the same with what I want to tell the user my name is Yemi Philips. I believe that there are different system for different people if any system do not suit you forget about it instead of insulting the person. If you must criticize it must be constructive. No point calling Rudy a stupid person.

Very Good ... :-bd Regards : Manus168.

Like the strategy.I use the strategy on the 1Day bar with success. would be trying it on the 1hr bar next week. thanks Rudy

Hmmm... Rudy, I look forward to hearing your results.

This is such a simplistic system, and though I see flaws with the idea... I also see some merits. Surely there will be times when market will oscillate around the open price, and other times when the market goes through then significantly retraces. But then again there should also be times that it does work. The question is percentages.

I think I might ATR the hourly candles to see average ranges, and look at some data tables to see how much above and below the candle goes (high low) from open. I just did ATR and looked at the candles. Checked out a bunch of the smallest candles, and the smallest I've found (didn't look at them all) was about 12 pips. Certainly more than enough room to scalp some pips on most candles. Did a 240 period ATR and see that the average candles are in excess of 35 pips.

Just thinking out loud... maybe using it as a signal in conjunction with something else? Looking at charts? (but then it goes back to a more complex system).

****

Just tried it in a demo account on the EUR/USD and... it's kind of like watching paint dry. I set up a price alert to get an audible when price hit open price. I also had a 1M chart up beside to visually watch what is going on.

I can imagine having four or more charts set up of various pairs along with a corresponding 1M chart for each to watch what is going on... I'd filter trades if it appears to cross with gusto, or just oscillating there at that level.

It is an intriguingly simple concept. I will be thinking about it some more.

Top Rated Free Forex Indicator...