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Scalping system #1 (Economic news releases)

 
Look for the important news to be released. Choose the most influential ones that are expected to shake the market well. Once got news (last can be found in any Forex economic calendar) find out which currency pair is going to be affected.

Now, 15 minutes before the data is released place buy/sell stop orders on both sides 15 pips away from the current price. Half an hour prior to the big news Forex market usually flats out – no significant trading is done, currency is often “stuck” in a small tight range.

When important news is released, the currency will move easily, producing large pip movements in either direction. Using this scalping strategy, traders will be able to get in and out of the trade in seconds at almost zero risk.

After studying for a while a particular currency pair and its reaction to the news, traders can predict direction of price spikes and the length of the move in pips to set entries and profit targets more accurately.

Another trading approach - Entry 15 min after the news has been described by Dean on page 2.


http://forex-strategies-revealed.com/


please i will like to know how to activate stop loss on this kind of trade, thank you.

Since we place buy/sell stop orders in both directions, we have to make sure that our stop loss order can be filled before we enter an opposite trade in case the price changes its course...

So, some 13 pips away from the current price should be fine; or the same, simply 2 pips earlier than the point where an opposite order awaits.

Thank you,
Edward.

Hi

What broker can fill those orders correctly during important news events?

Thanks.

(I trade live, and I've used a similar method but also with SL)

LM

No broker can fill orders correctly if the price bursts insane, but in all other cases when it has a relatively controllable move, there should be no problems with any of the brokers.
To be honest, I don't have an information about a perfect broker.
But, here is a website that might be of some help:
http://www.100forexbrokers.com/

Also may be our own basic research can give some ideas about brokers and their approach to scalpers: Brokers that allow scalping.

Regards,
Edward.

just wanted to mention that if you miss a news trade because it moves too fast, all is not lost. you can use the fib tool to measure the retracement bounce down to 62% and then open a position back in the trend's direction.

also, a directional momentum indicator may provide some indication of the direction of the trade.

kind regards, gibson

to clarify my prior post here - no matter whether the news is positive or negative, you don't know which direction the price will jump, and would not have time to figure it out anyway.

a directional momentum indicator, i.e. a "juice" indicator, will provide some help. when the movement/momentum is strong enough it will show red or green to indicate your trading direction.

don't worry about stops until after you get into the trade. one can place pending orders above and below the price consolidation range but you are taking a risk because, often, the price will jump in the wrong direction before turning around.

another heads up on the direction may be indicated by a level indicator like a pivot or camarilla or murrey math line. if the price is already trading at a very high or low relative level, i would not take a trade in that direction.

try is out with a mini-lot first.

happy trading,
gibson

Thank you, Gibson!

how can i make two MA appear on the MACD in MT4?

i want to open an account with 400 USD. can you please tell me what leverage to use.

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