361# Doda Stochastic Scalping System

Forex Scalping system with Doda Stochastic indicator

 

Submit by JanusTrader 14/07/2013

 

This Scalping system is based on Doda Stochastic but is inspired from un scalping system of Daniel Malaby. Doda Stochastic indicator is Stochastic indicator with less noise. Stochastic Doda is an evolution of the standard stochastic but it is necessary to study the setting. Doda stochastic is the best of the standard stochastic.

I recommended as Stochastic indicator standard : Doda Stocastic indicator.

 

Time Frame 1 min.

Markets: forex, futures, CFD, Commmodities and Stocks.

 

Forex Indicators:

We will be using two Doda Stochastic indicators on the

same 1-minute chart. The first Doda Stochastic will be a

less sensitive “slow” Doda Stochastic (Doda Stochastic #1) and the other will be a more sensitive “fast” Doda Stochastic

(Doda Stochastic #2).

Setting:

First Doda Stochastic(slow 15, 30, 9), add levels:(90-10)

Second Doda Stochastic (fast 8,13,9),add levels: (90-70-40-5).

 

Rules

Long Trades

Entry for long trades:

Criteria #1: Doda Stochastic #1 must be 95 or above.

Criteria #2: doda Stochastic # wait 2 must crosses upward 40 level

Implementation: You wait for Doda Stochastic #1 to reach

85 or above. Once it reaches that level it means that

the market is in a strong up-trend. At this point you

would want to enter the market long but you want to

enter in a very good risk/reward area. Doda Stochastic # 2

helps you achieve this objective.

You wait for Doda Stochastic #2 crosses upward 40 level and you enter a long trade at that exact moment.

Exit rules for long trade:

Stop loss: SL placed 25 pips from entry price

Profit objective: Either 20-30 pips or Doda Stochastic #2 (depends by currency pairs),

reaches the 95 level, whichever occurs first.

Profit Target fast 15 pips.

 

Long trade example :Doda Stochastic Scalping System

Doda Stochastic Scalping System

Doda Stochastic Scalping System
Doda Stochastic Scalping System Template
doda stochastic scalping system.rar
compressed file archive 680 Bytes

Doda Stochastic indicator

Doda Stochastic indicator
Doda Stochastic indicator
doda-stochastic.rar
compressed file archive 1.7 KB
Doda Stochastic Scalping System
Doda Stochastic Scalping System

 

 

Entry:

A – Doda Stochastic #1 reaches 90 so we immediately

look to Doda Stochastic #2 and wait crosses upward 40 level

 

B – At the exact moment that Doda Stochastic #2 crosses upward 40 level 40, the price of GBP/USD is 1,5099

We opened a long position at that exact price and

are now in the trade.

 

Exit

A – Our stop loss is placed 25 pips from entry

B – The market keeps moving - our stop loss of

pips (at 1,5074) is active but is not reached

C – Stochastic #2 reaches the 95 level

D – We exit the market at the exact price the pair is

at when Stochastic #2 reaches 95, i.e. 1,5103

E- Profit Target 15 pips.

 

 

 

Entry for short trades:

Criteria #1: Doda Stochastic #1 must be 10 or less

Criteria #2: Doda Stochastic #wait 2 must crosses downward 70 level

Implementation: You wait for Doda Stochastic #1 to reach

10 or less. Once it reaches 10 or below it means that

the market is in a strong down-trend. At this point

you would want to enter the market short but you

want to enter in a very good risk/reward area, just

as with the long trade covered earlier. Doda Stochastic #2

helps you achieve this objective.

You wait for Doda Stochastic # 2 must crosses downward 70 level and you enter

a short trade at that exact moment.

Exit rules for short trade:

Stop loss: SL placed 25 pips from entry price

Profit objective: Either 20-30 pips or Doda Stochastic #2 (depends by currency pairs),

reaches the 5 level, whichever occurs first;

Profit Target fast 15 pips.

 

Short trade example :Doda Stochastic Scalping System

Short trade example :Doda Stochastic Scalping System
Short trade example :Doda Stochastic Scalping System

 

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 0