Magic Scalping System is a trading strategy that is developed to trade in the forex market. To be specific this system is developed for scalpers. Magic Scalping System can be used by both newbies and the experts since it really is an amazing scalping system. Testing the system on the past market data it showed really an impressive accuracy rate. Like always, it should be remembered that it is not only the system that will make you a successful trader. Your personality really counts. You personality can be reflected in your trading decisions. A person having negative mindset all the time might find difficult to make money out of forex trading. Hard work and positive mindset are not enough to make money consistently in the forex market. You should train your mind to specific guidelines. You should practice a lot with your system unless you gain confidence. You should maintain the high level of self discipline. If you know everything about market and nothing about self disciplined trading then you might never succeed in this business.
It is also equally important to have a system that really works. Magic Scalping System is a scalping tool. Scalping is trading for very short period of time which might last for few seconds to few minutes. The main objective of a scalper is to make profit in small price fluctuations. Scalpers tend to make small profits in each trade and in combined they would seem more. Magic Scalping System consists of four technical tools which will help us to make a trading decision. You can use 1 minute and 5 minutes chart to trade this system. When Magic Scalping System is correctly installed in your trading platform your charts should look like this:
- Super Signal Channel: This is a channel made up of two thin lines which are custom made moving averages. The moving average that appears above the price is red in color and the moving average that appears below the price is blue in color. Super Signal Channel works as a support and resistance for the pair. This indicator is the main tool in this trading system. Trade signals are generated on the basis of this indicator. Other indicators are only used for confirmation.
- Arrows: These are the red and blue arrows that appear on the chart. When a blue arrow appears it indicates the buy signal whilst when a red arrow appears it indicates the sell signal.
- Non Lag Zigzag:Since this system is based on the wave formations Non Lag Zigzag indicator helps to figure out the waves on the price chart easily. It is a thin line which joins the highs and los of the market.
- Awesome Oscillator: Awesome Oscillator is a momentum indicator that helps to confirm your buy/sell trades. When the oscillator is above the zero level it indicates the bullish dominance in the market whilst when the indicator is below the zero level it indicates the bearish dominance in the market.
Buying Conditions Using Magic Scalping System.
- A blue arrow pointing upward should appear below the price.
- Awesome oscillator should start forming blue bars.
- Place your stop just below the recent swing low.
- You should take your profits as soon as a red arrow appears above the price.
Selling Conditions Using Magic Scalping System.
- A red arrow pointing downward should appear above the price.
- Awesome oscillator should start forming red bars.
- Place your stop just above the recent swing high.
- You should take your profits as soon as a blue arrow appears below the price.
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