The Currency Strength Index shows how major currencies perform against each other in real-time. You can see at a glance which currency is on the rise and which one is declining, thus giving you valuable information about buying and forex pdf pressure. To avoid volatility bias, Currency Strength Index is using sophisticated calculation algorithm, which makes it a reliable tool in the decision making process of every trader.
The Currency Strength Index is calculated in real-time, on every tick. The calculations are based on the 1 minute time frame. The colored indicator bars and percentage values for each currency are updated automatically every 5 seconds. It is relatively easy to find articles about trading systems that achieve positive long term historical results on highly liquid Forex pairs. However this becomes more difficult as we move to more exotic pairs since trading costs generally make the development of profitable trading systems for these symbols harder.
The entry and exit rules are shown below. 1-2, less often in 5-7 minutes from the start. Forex scalping is one of the most demanding trading styles. It needs everything to work quickly, precisely and according with the strictest rules, and where the money management plays a paramount role. 10000 account in just 3-4 weeks!
A Forex scalper is an experienced craftsman in his industry. Building a trading system that would allow to scalp the market effectively is so difficult, that many traders, even professionals, often choose to conclude that price action on the small scale charts is random, because they can’t trade it. Well, that’s my friends, only an excuse not to trade on smaller time frames. What do you need to start scalping?
Speaking of trading rules and indicators, I haven’t met a scalper who would use only price patterns or only trend lines or fibonacci numbers, or Gann theory etc etc – all those fundamental studies which are used on larger time frames by expert traders, are rarely seen in scalpers’ systems. How to pick indicators for scalping? I’m afraid, that’s going to be your task, my friend. Every scalper starts with some favorite tools he picks up while learning how to trade. The rest boils down to testing and trying hundreds of indicators on 1 minute charts in order to filter bad signals and leave the good ones.
Scalpers read thousands of pages in the forums, on the websites, everywhere where people talk about indicators, and then every other evening sit and patiently test the tools they’ve gathered. Learn how to write custom indicators and speed up the process. Plus you can code your own robot to trade for you. That’s how it works in Forex. Ask someone or pay for coding you an indicator or an EA you need. That’s much easier, although you will most likely need to repeat the process many-many times.
EAs rarely make good profits in the long run, plus, most popular of them are easily recognized and banned by Forex brokers. Get any scalping system you can find online, set it up on 1 minute charts and start analysing the performance while trying to improve the sequence of profitable trades. Shorten the profit targets and stops if needed, and work out the money management. Why Forex brokers don’t like scalpers?