376# Daily Scalping Trading System

Daily Scalping Trading System

Submit by JamesUK 30/10/2012

 

Description: This system is a day trading system with the following rules

1. Create daily chart on any pair 2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open) 2. Place opposite side trade 40 PIPS away from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry) 3. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; 

If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order. 4. Use 40 PIP stops on all orders. 5. Close between 2300 and 2400. 6. Repeat trade rules at 2400 GMT.

Money Management Rule:Never risk more than 1% of your account on any single trade. You may use variable posing sizing with this system and vary your position size depending on your stop loss such that you risk only 1% of your account.Recommended Pairs:Volatile pairs: GBP/USD , USD/CHF…ConclusionYou can see the system is very simple and short, yet it is profitable. 

 


In the picture Daily Scalping forex system in action.

Forex Trading System
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