The Best Scalping

Fx Prime 1 Minute Best Scalping System

 ENTRY SIGNAL RULES:

 Long Trade
CCI 170 Over the 0 Line showing uptrend
CCI 34 Over 0 line as well showing uptrend
Heiken Ashi Turns Blue
RSI over 55 <<<<< VERY IMPORTANT dont enter if its in between the 45-55 zone (45-55) IS DANGER DO NOT ENTER ZONE once it crosses in the same direction take the trade.

 Short Trade
CCI 170 under 0 line showing down trend MUST CROSS FIRST
CCI 34 under 0 line showing down trend MUST CROSS SECOND
RSI under 45 same as above dont trade when in the 45-55 zone

Money Management

This is the second more important point in Forex trading after to know when to take a trade

 We should never risk more than 2% of our account equity on a single trade .

That is easily calculable, I made a FX calculator, just fill the blue part and you are gone.

There are trading methods with 30% or more risk per trade but I can not agree with that , only if it is a special risk account.

What is a risk account?

I use one mini account (2k) that has about 10% of my total Forex inversion, I use it for special trades that have higher risks and in case that I loose, I can't use more than the amount I have deposited . 

An example:

I expect a weekend gap and want to trade it, I take the trade and in case that I got hit, because the broker executes my stop loss on the open price, no matter what is my SL. The max that I can loose is the equity of this account but not my total FX capital.

Another high risk is to trade the news, I use to take opposite trades in both directions with a 15 pip SL on both, if the rally starts it hits the SL of one direction and runs on the other, on the first sign of reversal I take the profit. Sometimes we have spikes to both directions and both SL gets hit !

My SL on scalping:

I use in violent markets 5 to 30 pips SL, depending on the currency pair. In quiet markets I don't use SL at all but I agree that this is dangerous. A new trader should always set up a SL!!!

 FX as the main income:

Lately I got a lot of PM's asking me:

Hi Cobra, I can't see the face of my boss anymore and want to make my living with Forex, how much capital I need to get start paying my bills?

My answer on that question is:

Before you quit your job, have 6 month with a at least 10% reward in row, your wife and kids need food and a secure roof to sleep well, don't risk that never.

Count with an average 10 to 20% reward over your account equity with a good MM.

If you need monthly 2000$ to pay your living, you need a minimum of 20.000 (twenty thousand USD) to start your own business.

100 - 300 pips per day any pair any TF

Rules:
Macd 11,12,11 crosses 0.00 either Direction.
Next wait tell Price crosses S&R
Finally on 1m chart make sure price is above for long and below for short the 100 Sma
If it is then take the trade.

I have a trading set up that works in every time frame and on every pair. I'm gong to include a picture of the 2 indicators that I use. TRO's/MP's Support and Resistance, & Mac D 11,12,11, I added one more Indicator for Easier Entry 100 SMA. ( This is not on the templete you will need to add it.) It's very simple, very profitable, and you will notice that we tend to make things very difficult. Don't be fooled into thinking you need anymore then this

5M on 60LWMA

Here i explain the 60 LWMA 5M scalping method:
The 60 LWMA breaks and retest the 60MA line, on the next candle confirmation of the direction we enter.
The SL is the last two candles that broke the line but no more than 20 pips, TP min is 30 pips or a clesr reserval candlestick sign. so we have a risk reward of 1 : 1,5
The reserval sign maybe the change of the color of the OSMA indicator, that depends on the strange with the time you will get the feeling when to leave the trade.

5M on 60LWMA

Ichimoku Scalping: Answers to your questions

Since I’m getting a lot of questions regarding the rules for my 15mn Scalping system, I thought another trade example (with chart) plus few comments might help to cover all the questions in detail, here it goes:

1. I’m using ProRealTime charting Package which is provided by my CFD Broker, although you can use it for Free by registering at ProRealTime.com, you will only get the DailTF with the Free Account. They also have paid subscription options too which will give you access to all other smaller timeframes
2. However, there is nothing that is special about this particular package, this all can be achieved with any other platform as long as the rules are followed properly