FREE FOREX STRATEGIES

Scalping system #19 (X-Scalper)


Submitted by Azim.

Just want to share a simple strategy that I use to trade on daily basis. It is similar to AzimXsystem, but the accuracy is far better because this system is designed to scalp the market. Since it is also based on EMA crossing, I named it
X-Scalper
.


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I never tried to TP more than 2-3 pips..but 5pips Yes! it depends on the distance between your entry and the support/resistance. If the support/resistance is quite far from my entry, I would TP 5pips. Anyway to be safe 2-3pips is better. HIT AND RUN ^_^

Azim

Hello everyone sorry for the late reply, It's been very hectic for me because I have a lot of work to do in the office. I'll try to answer all your questions.

Phil:

Personally I use 5mins but not 1min. Actually I recommend to use H1 because some traders have the difficulty to spot Support and Resistance. Therefore using H1 is easier since there are less'market noise'which makes it easier to spot the support and resistance. Basically, I would advice at least feel the system on H1 before you move into lower timeframes. Besides, trading in H1 would test our discipline/patience so that we would not Overtrade when we trade on 5mins.

Azim

HI Azim

Thanks for posting this strategy. I like strategies that's in and out of the markets with such high success rate. Just one thing I would like some clarity on: the stop loss. You mentioned you leave enough space for the market to move 1000 pips+. Do you calculate a % of your account that you use based on 1000 pips for example: 2% of $1000 account = $20
$20 / 1000 pips is 0.02 lots per trade. Are my assumptions correct? Can you give a bit more detail on the stop please

Regards

Shawn

Hy software programmer,

Do you think it is possible to make this ea,i am not sure that a Ea can draw the supports and resistances like the author of the strategy. I think everybody has a different manner to draw them,it depends of the view of eachone. For the rest it is simple to programm the crossover of both ema s.Stoploss and Tp is also easy to programm. Perhaps useful would be a good moneymanagement.

San

Hi, Azim

I can help u in MT4 coding for free. Just email ur requirement to [email protected], one question have you ever tried more than 2-3 pips? What is result ?

Stop Loss is discussed in the comments on this forum.

Hi Azim, can you use this on lower time frames such as 5mins or 1 mins? Its just its not really scalping when using 1hour or above timeframes is it? You have to wait for ever to get into a trade.

regards, Phil

whts d stoploss azim sir....?

Looks like Bagovino strategy

Apologies, I forgot to add; I can't code it so it doesn't trade at s/r unless anyone is able to define this in terms of the within a certain amount of pips of the highest high (say) of the last so many bars.

Cheers, Dai

Hi, I code MT4 EAs for clients and can do this one with parameters for stop loss and take profit, setting your own EMA values, etc. Unfortunately I have to charge USD60 for it; coded for up to two live accounts and unlimited demo accounts, thereafter USD20 per additional compilation, as it's a proprietary software architecture that colleagues and I have developed. So if there's anyone else who can do this for free, that would be a cheaper option for you.

I hope this doesn't contravene usage of this site. I guess if it does then my comment won't get published (quite rightly) and my apologies if this is seen as touting for work.

I was also looking at this strategy and thinking that another rule might be if your current candle is going in the same direction. I.e., if you're looking at a long but the current price is below the open value, then stand aside.

daijobudesune at gmail dot com

Hai Artsedge,

You can test it using Forextester and have a feel of this system.

Regards,
Azim

Hi Edward,
Can a EA be written for this method and then it can be test over a period of time.
Artsedge.

Hi Artsedge,

probably yes, but I'm not able to code EAs, unfortunately.

Best regards,
Edward

Timeframe: 15min
1 hour and above(recommended)

I mean I'm using it on 15mins and above. The results I've posted both for 15min and higher Timeframe(1hr,4hr). During demo I know my trade is not a lot because my schedule was very hectic as I managed to take 2-3 trades per day but somehow the trades that I've missed should have been a profitable trades.

What I am trying to tell is whenever you have a valid setup in any Timeframe I mentioned above, make an entry.

But please do remember Do not buy at resistance and do not sell at support!


 

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