The Mumbai Forex Scalper Strategy - Forex Strategy Resources

Name : The Mumbai Forex Scalper Strategy
Period of time : M15 and above
Indicators : Parabolic SAR (0.02, 0.2) , Stochastic Oscillator (5, 3, 3)

Within my happen to be India, i acquired the opportunity to see Mumbai and go through the hustle and bustle with this juggernaut that is financial of. The rate is quite fast and many people are wanting to make a buck that is quick really much like our scalpers within the Forex industry. Here is the good reasons why i have called this strategy The Mumbai Forex Scalper Strategy.


Using this scalping strategy
We may start off by opening a 15 minute chart on your own desired set, preferably forex set with low spreads. Attach the Parabolic SAR using the settings mentioned previously The Parabolic SAR may be used giving us a feeling of way similar to a average that is moving. As soon as a trend is discovered by us on the market, you want to keep an look out for a cross within the Stochastic Oscillator to confirm the entry.

Sell Situation:

If the Parabolic SAR is in a downtrend we have to wait for a verification associated with Stochastic Oscillator to get across above the 70 level. When these two criterias are confirmed, we would enter at the opening of the candle that is next. The prevents could be maintained the most of the candle that is previous could be adjusted/tweeked according to your danger appetite.

Buy Situation:

If the Parabolic SAR is in a uptrend we truly need to watch for a verification of the Stochastic Oscillator to cross below the 30 level. When these two criterias are confirmed, we would enter at the opening of the candle that is next. The prevents could be kept regarding the low of the candle that is past could be adjusted/tweeked as per your danger appetite.
Exit Strategies

Option 1
1:1 Risk to reward. If your stop is -12 pips your limitation should be pips that are +12.

Option 2
Open 2 lots. If your end are at -10 pips, once your trades goes into your favor and you’re at +10 pips, near 1 lot and allow other one run. Exit at Support and Resistance amounts.

Choice 3
Exit at the nearest 50 or 00 degree. They are mental amounts. (ensure your exit reaches minimum the exact same quantity of pips as your end, otherwise dont enter the trade)

Choice 4
Trailing Stop. Once in a trade, at the close of each candle, spot your stop 1 pip below the low (if in a buy trade). Vise versa for sell trade.