Scalping using trending candles - Page 101
Page 101 of 132 FirstFirst ... 5191979899100101102103104105111 ... LastLast
Results 1,001 to 1,010 of 1313

Thread: Scalping using trending candles

  1. #1
    Trader
    Join Date
    Aug 2013
    Location
    Undercover
    Posts
    999
    Thumbs Up
    Received: 188
    Given: 204

    Scalping using trending candles

    Name of the Strategy: Scalping using trending candles

    Account Information:

    Account No. : 2188626
    Investor password: asd123
    Server: Roboforex demo
    Trading Style: Scalping
    Time Frame: Any preferably M5, M15, M30, H1
    Currency Pair: Major and Cross Pairs and sometimes metals

    Description:

    It is another simple strategy I am going to use here for scalping. I'll use only candle movement to open a trade which makes it simple and easy to understand. I will find out three consecutive and almost even(almost same length) candles moving in same direction on candle chart of M5, M15, M30 or H1 of any currency pair. Then I'll wait for 4th or/and 5th candle to complete. If I find 4th/5th candle is in the same direction or less than 40% retrace is seen based on those 3 candles I'll put order in the same direction of previous 3/4 candles.

    I'll set probable SL point just 10 pip below the open price of 1st candle. TP will be set around half of the SL level. I mean if SL is set at 40 pips from open price then TP will be set at 20 pips from open price. If needed trades might be closed manually. In case of strong trends TP might be adjusted or set for higher profit. I'll always use fixed lot size for moderately volatile pairs.

    Special Note: For XAUUSD, XAGUSD, USDTRY and USDZAR I'll use 50% smaller lot size and will double the pips to set SL.

    Attachment 10749

    Explanation:

    On the screenshot I have indicated the 1st candle and 4th candle. Entry point and possible SL and TP are also shown on the candle chart here for currency pair. For simplicity I'll indicate in the same way when I'll test my strategy.

    Money management:

    I will expose maximum of 2-3% of my invest in a single trade with a target of 1-2% profit. In order to give some room for trade I might double the length of SL as if I have opened a new position at earlier SL. Similar things can happen to TP if strong trend is seen.

    Not allowed!
    Last edited by nkhan2810; 06-04-2014 at 09:59 PM.

  2. #1001
    Trader
    Join Date
    Apr 2016
    Posts
    4,048
    Thumbs Up
    Received: 20
    Given: 9
    Quote Originally Posted by Striker$ View Post
    You know scalping has a fault and that fault will make you loss your money in the market if care is not taken. Therefore I don't allow my trading to be scalping method. If you understand the context of the market, you then will see that you just can be a good trader trading just the use of the trend line trading method when you have the swing trading strategy in use.
    I straightaway agree with you, scalping has more negativity in it than positivity and this makes losing much more possible with it than earning. It is true scalpers are more in number and that could be one major reason why losers in Forex are also more in number. Lower time frames, lower profit targets with more risks, I think these things makes scalping just a thing to be avoided.

    Not allowed!

  3. #1002
    Banned
    Join Date
    Jul 2018
    Posts
    2,728
    Thumbs Up
    Received: 12
    Given: 0
    Traders scalp with different method and indicators, but using candlestick is a new concept that I don't find often, I think this strategy must include some elements of price action, unfortunately the candles that takes place in the lower time frame have less effect in the market. Before a forex trader would develop such a strategy, it should have undergone different tests.

    Not allowed!

  4. #1003
    Trader
    Join Date
    Oct 2018
    Posts
    2,063
    Thumbs Up
    Received: 10
    Given: 19
    Overall It's really a good idea to do trade in the market. But, to do trade with this method we must have need to open every trade with proper stop loss and proper money management. Because, Forex trading is all about risk because it is the nature of forex that we cannot say anything 100%.

    Not allowed!

  5. #1004
    Trader
    Join Date
    May 2018
    Posts
    6,459
    Thumbs Up
    Received: 38
    Given: 4
    Scalping is a strategy that we cannot do easily with just candlestick, indicators are necessary because we cannot be sure that a candlestick that has formed from a much lower time frame will have a higher impact on the market, scalping with candlestick should be done with confluence, you don't engage in this strategy without getting confirmation from another indicator, trade it solely at your own risk.

    Not allowed!

  6. #1005
    Trader
    Join Date
    Dec 2016
    Posts
    4,841
    Thumbs Up
    Received: 17
    Given: 2
    The way a particular trader go about scalping will definitely determine how profitable that trader maybe in scalping the market as a matter of fact a lot of us have failed in scalping the market and put the blame in scalping method that is not working perfectly in the market but is how a trader goes about it that he/she gets the results the trader deserves.

    Not allowed!

  7. #1006
    Trader
    Join Date
    Jul 2017
    Posts
    8,577
    Thumbs Up
    Received: 32
    Given: 22
    This is a very good trading system for market scalping because i can see that most of the trades taken with the use of this system has delivered positively and this is all that we want with any trading system either a long term trading system or a short term trading system or a scalping system like this. Irrespective of any system used, what matter most is the results that we have at the end of the day.

    Not allowed!

  8. #1007
    Trader Toyen's Avatar
    Join Date
    Apr 2018
    Posts
    7,692
    Thumbs Up
    Received: 40
    Given: 13
    Quote Originally Posted by Leonvic View Post
    Scalping is a strategy that we cannot do easily with just candlestick, indicators are necessary because we cannot be sure that a candlestick that has formed from a much lower time frame will have a higher impact on the market, scalping with candlestick should be done with confluence, you don't engage in this strategy without getting confirmation from another indicator, trade it solely at your own risk.
    It is not easy to trade scalping with candlesticks, but the trader can still be making income through the scalping of candlesticks when they have mastered, it is just about the system the trader has built for that trading style. I don't like to scalp the market because it is so stressful, the traders which are scalping are trying, i always respect those ones that are making money through it.

    Not allowed!

  9. #1008
    Trader
    Join Date
    Oct 2018
    Posts
    2,063
    Thumbs Up
    Received: 10
    Given: 19
    Doing scalping to follow the trending candle is a good idea to do simple and accurate trading. but it's also risky if a trader have no emotions control technique. Doing scalping to follow trending candles. we must have need a proper money management plan and also a good emotion control technique.

    Not allowed!

  10. #1009
    Trader cutiekc's Avatar
    Join Date
    Dec 2013
    Posts
    23,501
    Thumbs Up
    Received: 158
    Given: 236
    I generally don't like scalping because it isn't good for analysis making, I want to make use of a trading strategy that I can make use of in making analysis and then get to be confident with the analysis I am making, using the scalping trading strategy has to do with me making use of the smaller time frame and then I know so much how bad the trading signal gotten from scalping could be.

    Not allowed!

  11. #1010
    Trader Rylai's Avatar
    Join Date
    Oct 2017
    Posts
    1,760
    Thumbs Up
    Received: 10
    Given: 21
    Quote Originally Posted by cutiekc View Post
    I generally don't like scalping because it isn't good for analysis making, I want to make use of a trading strategy that I can make use of in making analysis and then get to be confident with the analysis I am making, using the scalping trading strategy has to do with me making use of the smaller time frame and then I know so much how bad the trading signal gotten from scalping could be.
    The whole thing about scalping is to focus on making fast earning in daily basis by using small risk to gain small return in couple minutes. this method forces us to stay online and keep our eyes open for any possible opportunities from market to catch and close immediately. this kind of short term trading will get higher profits when market volatility has increased, for example to trade the news with patterns we can see from candlestick.

    Not allowed!

Page 101 of 132 FirstFirst ... 5191979899100101102103104105111 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •