The 15 pips forex scalping trading strategy is an extremely accurate scalping strategy. It is the tool to have for the scalpers. It has an efficiency of 85-90% making it among one of the best trading strategies there is for scalping.
It is a very simple to use strategy and hence recommendable even to the forex beginners.
Fig.1. The 15 Pips Forex Scalping System.
Since this trading strategy is meant for scalping, the trader using it should use it on the M5 and M15 timeframes. This is because scalping requires trading within small time intervals and with the M5 and M15 timeframes, the candlesticks take less time to form.
This trading strategy is designed for trading major currency pairs that have small spread margins. This very important to the scalpers since immediately the scalper places a trade he or she doesn’t want to look at a very big negative due to the spread.
The other thing with this trading strategy is that it is best used to trade during the European and American trading sessions. So, when choosing currency pairs to trade, the trader should ensure that the currency pair fall within this category.
The 15 pips forex scalping strategy incorporates three indicators with two that are main. The two main indicators are ArrowsAndCurves indicator and the freescalpingindicator. The other indicator is the BarTimer indicator.
The ArrowsAndCurves indicator is displayed in the main trading chart and it generates a channel of green channel lines and also generates aqua colored and red arrows. The channel helps in indicating the range within which the market swings (the highs and the lows). The bear candlesticks are pink in color while the bull candlesticks are green in color.
The freescalpingindicator on the other hand is displayed on a separate chart below the main trading chart. It generates green and red bars that originates from a center line. The red bars form downwards while the green bars form upwards. The indicator has a vertical scales with a center at zero (0.0). The upper and lower limits of the scale vary according to market prices.
How to use the 15 Pips Forex Scalping System
There are basic rules that the trader has to observe when using this trading strategy to trade for maximum profits.
- When to open a buy
The trader should place a buy when a aqua up arrow is generated by the ArrowsAndCurves and the Free Scalping Indicator starts to generate green bars. The buy order should always be placed at the beginning of the formation of the second green bar formed by the freescalpingindicator.
Then the trader should close the order when an opposite signal is generated or use a take profit of 15 pips and a stop loss at the lower green channel line.
- When to open a sell
The trader should place a sell when a red down arrow is generated by the ArrowsAndCurves and the Free Scalping Indicator starts to generate red bars. The sell order should always be placed at the beginning of the formation of the second red bar formed by the freescalpingindicator.
Then the trader should close the order when an opposite signal is generated or use a take profit of 15 pips and a stop loss at the higher green channel line.
Fig.2. Using the 15 Pips Forex Scalping System.
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