I get 70%+ Success rate when i do 1.5/1 Risk/Reward ratio. Therefore I do 10pip TP with 15 SL. To lock at-least 50% of the profit I also do Trialing stop when i hit 5pip profit. This works pretty well with the Mt4 Indicators I mentioned above so i'm using the below indicators with Tradingview so that I can even trade with my tablet as MT4 Mobile version doesn't allow custom indicators.
Heiken Ashi (CM_Modified_Heikin-Ashi_TrendBars) - Thanks to Chris Moody Trend CCI (FX Sniper: T3-CCI Strategy) - Thanks to HPotter RSIEMA (CM_RSI_EMA) - Thanks again to Chris Moody ATR - Average True Range Indicator
Long Entry:
Heiken Ashi (Trend Bars) is Green + Trend CCI is Green + RSI crossed up 21 EMA and RSI > 60 + ATR Above 5
Exit: When Heiken Ashi (Trend Bars) Turns Red / RSI Cross Below 21 EMA
Short Entry:
Heiken Ashi (Trend Bars) is Red + Trend CCI is Red + RSI crossed down 21 EMA and RSI < 40 + ATR Above 5
Exit: When Heiken Ashi (Trend Bars) Turns Green / RSI Cross Above 21 EMA
As you can see i'm using ATR as well apart from the original indicators mentioned in the link above. This helps me to make sure that there is good volatility in the market to hit my target.
Conditions:
Only Trade Tuesday to Thursday Only Trade with Max 2.5pip Spread Currency Pairs Like EURUSD, USDJPY, GBPUSD Only Trade During High Volatility Session Overlaps (Asian/European Overlap & European/American Overlap) Only Trade During the First 2 Hours of the Session Open Do Not Trade 30mins Before & After news event Do Not Trade in Abnormal Market Conditions: forexwinners.ru/forex/market-conditions-not-to-trade
Hope this helps anyone who would like to do short term scalping (1m/5m/15m). Any suggestions are welcome :-). Good Luck with Scalping!!!
Hi, this looks like a very nice strategy. I am wondering, if the trade is going your way and looks like it will continue moving in the same direction, do you always close the trade at 10 pips profit? Also, how many pips do you normally use for your trailing stop? I am a beginner with trading and not sure how to choose the right amount for trailing stops.
Thank you for sharing
leomedina01
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What's the best timeframes for this strategy? M30 is good?
chathura-ambegoda
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Hi Suranga,
Can this same strategy be applied for Binary?
Thanks.
Trader_Dale
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Thanks!
UnknownUnicorn588628
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Hey, thank you for This strategy... how is setted the CCI? I have tried but i''ve not undestood how can do appear TR-CCI ..ecc. could you help me please?
Thanks
Ice_
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Nice system! How many pips since the beggining?
rajeboav
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Great!!!! Thank you much!!
rajeboav
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*very much
rajeboav
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Hi, when you say: "Only Trade During the First 2 Hours of the Session Open". Must this session be a session overlap?
surangadesilva
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Yes it's better to be in the session overlap as this time is the most volatile. European/American (4hr Overlap) is the best and the Asian/European (1hr Overlap) is the second best. See more info here: investopedia.com/articles/forex/08/3-market-system.asp
As you can see 7-8GMT & 12-16GMT is the most volatile and PA moves in the same direction when the session opens (Most of the times) so when you are in a high volatile market you can achieve the target so quickly.
Thank you for sharing