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Forex scalping trading system

Scalping strategy with Bollinger bands

Today, for a change a little scalping strategy for the kick in between. It is applicable to all time frames and currency pairs.

It is based on the following indicators:

Bollinger bands (20.02)
Stochastic (5,3,3)

Screenshot:
Forex scalping trading system
The idea is simple but effective:

Whenever prices close outside the Bollinger bands and the stochastics cross in or near overbought / oversold, waiting for a confirmation candle and off you go! However, do also here in the Daily Pivots as support and resistance can not be ignored.

The screenshot shows the possible entry points.

Criteria for SELL:

Candle closes above the Bollinger band
Stochastic crosses above in or near the oversold area (This is by default given above a value of 80)
The next candle is bearish and going downwards with momentum

Criteria for BUY:

Candle closes below the Bollinger band
Stochastic crosses down in or near the Oversbought Area (This is by default given below a value of 20)
The next candle is bullish and goes upward momentum with

For the exits, there are no exact rules as always. They depend on the volatility of the currency pair, but you can get geared for example to the Middle line of the Bollinger band.

Like all scalping strategies is to trade these extremely dangerous, so you should rethink you set the stop losses very closely and if the trade does not equal a relatively fast, so close the position.



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