BMK Scalping is a forex trading system. This is a scalping forex trading system and it has the potential to make you advanced trader day by day given that you follow the rules of the system with complete self discipline. The BMK scalping system is very simple trading system yet it produces very accurate trading signals. It has been tested under various market conditions. The BMK Scalping system contains a dozen of indicators but fortunately you don’t have to follow all of them to make profitable trading decisions with this trading system.
While scalping in the forex market, besides trading systems, you should care about many other factors as well. You should keep away yourself from trading when there are major events like NFP, interest rate decisions, etc.
When you install BMK Scalping in your trading platform, your chart should look like this:
- Bollinger Bands
Bollinger Bands are one of the main signal generator indicators of this trading system. The market prices tend to fluctuate within these bands. When the market hits the upper band look for possible short signals and when the market hits the lower bands, look for the possible long positions.
You can see histograms in the indicator window of this trading system. The rule is too simple. When the bars are in positive territory, you should be buying and when the bars are in negative territory, you should be selling.
There’s an indicator called Do not trade in this forex trading system. We will not use this indicator as the indicator doesn’t produce proper trading signals.
Buying Conditions Using BMK Scalping.
- Market should be up trending.
- Market should bounce from lower or middle band of the Bollinger band.
- The histogram should be in positive territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the market breaks below the lowest band.
Selling Conditions Using BMK Scalping.
- Market should be down trending.
- Market should bounce from highest or middle band of the Bollinger band.
- The histogram should be in negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the market breaks above the highest band.
Download Free Forex BMK Scalping Strategy
Make sure to check my Renko based strategy below:
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