Digital Scalping is a Forex trading strategy. Digital scalping is a forex trading strategy that is designed to scalp in the forex market. Scalping is trading for short period of time. It is highly risky if a trader doesn’t use proper money management techniques. Scalping is advanced way of trading. Beginners are not recommended to scalp in the forex market. Scalping results in emotional trading if one cannot control own emotional while trading. Fixed set rules and high level of self discipline to follow those rules are required to successfully scalp in the forex market. However, Digital Scalping forex trading strategy has made the scalping job easier. Even the beginner trader can successfully make money by scalping in the forex market by using Digital Scalping forex trading strategy. Although this is a scalping system we will trade only in the direction of the major trend that is seen in the timeframe we are trading. Suppose if we are planning to scalp in the 5 min time frame, we will only trade in the major direction of the trend that is seen on the 5 min chart.
Digital scalping consists of five technical indicators that help to generate the trading signals. Those five technical tools will be discussed below. When the Digital scalping is correctly installed on your trading platform, your chart should look like this:
- Trend Magic
Trend Magic is a major indicator of the Digital Scalping system. Our main signal generator indicator is Trend Magic. It comes in blue and red colors. We would be buying only when the Trend Magic indicator is blue and selling only when the Trend Magic is red.
- Tudor Girl and MTF
This is a combination of two technical indicators as you can see on the indicator window. This indicator comes in red and blue color.
- RBCI Histogram
RBCI histogram is a histogram that consists of bars that are red and green in color. Green bars indicate the stronger bulls and red bars indicate the stronger bulls.
- Pivot points
There are also automatically drawn pivot points in Digital Scalping. These levels can be used to figure out the potential stop loss and take profit levels but we will use different mechanisms to place our stop and take profit levels.
Buying Conditions Using Digital Scalping System.
- Price should be above the Trend Magic indicator.
- TudorGirl indicator should be blue in color.
- RBCI bar should form green bars.
- Place your stop just below the recent swing low.
- Take your profits when the price bar closes below the Trend Magic indicator.
Selling Conditions Using Digital Scalping.
- Price should be below the Trend Magic indicator.
- TudorGirl indicator should be red in color.
- RBCI bar should form red bars.
- Place your stop just above the recent swing high.
- Take your profits when the price bar closes above the Trend Magic indicator.
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