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Showing results for tags 'scalping strategies'.
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Hi all I would gladly hear your recommendations. I am wondering is there a way to pick up on these short movements when the price goes continuously in one direction for 10 pips or so. I would be grateful for recommending me a few indicators that would help me to determine that. What I am thinking of is to do a few (2-3) very small trades a day - a 3 pip take profit and a 3 pip stop loss + spread, per trade. It gives approximately 2:1 risk-reward ratio. Obviously, in order for it to be profitable a very high win rate is needed. That's why I want to choose favourable market conditions and a proper currency pair. I'm working on MT4. Do you have any recommendations about the indicators I could use, currency pair and the time frame/number of ticks per bar I should try? Cheers P. Help with detecting short, few minute, one direction price shifts
In scalping, reliable fills are crucial. I don't think it's possible to scalp and make money without getting reliable fills. So you either need to use a market order, and have a system that is good enough to deal with slippage, or place limit orders such that fills are very likely. Limit orders placed in such a way to insure a fill, may decrease your profit per trade, but increase your profit overall. For example, if you are long, and place a limit sell order below, the current price, it will fill immediately. I'd like this thread to focus on getting reliable fills for a scalping strategy.