My bread and butter – very easy scalping system that works! In my opinion, the best Forex pair for scalping is GBPJPY. It’s one of the most liquid, most active and accessible Forex pairs. Using the scalping method for GBPJPY can make a good profit.
Free Scalping System: Breakdown of the 15-minute opening range. (1st 15 minute bar of a new day)
This is my favorite strategy, it requires only an Internet connection to your broker.
The system will work on any trading platform – make sure your broker allows scalping! From the usual tactics of the game on the opening range breakout the profit fixed very quickly, the deal is rarely lasts longer than 1-2 minutes.
Setup step by step: Wait for the formation of the first 15-minute bar.
Entry: Enter through the buy stop 2 pips above the high of the first 15-minute bar or a sell stop at 2 pips below the low of the first 15-minute bar.
Exit: Close the position at a profit of 3-4 pips.
Stop-loss: 2 pips. Close a trade at 2 pips loss or 1-2 minute after opening a trade.
Re-entry: Wait a breakdown in the opposite direction. In this case, I double the size of the foot. Exit rules are applied are the same.
Check your history charts – Look closely at the breakdown of the first 15-minute range for each day. 9 trades out of 10 will be winners.
Note: (New York time minus -1 hour is a beginning of the new day for this simple scalping system).
P.S. Make sure to download and try free scalping indicator – the very best free Forex indicator for scalping