15 Minute Scalping Strategy:
The following is a scalping strategy suggested by a friend on facebook. He is consistently making 10-20 pips daily in forex and we had a chat on facebook about his strategies and he is using a scalping strategy. He mainly does it before the beginning of London session. When I asked him about his scalping strategy he said it’s very difficult to explain it and he suggested me the following strategy from forexfactory.com and mentioned that his strategy is very close to this strategy.
Indicators used in this strategy:
- A bundle of moving averages
The author of this strategy has also provided an indicator. Download that indicator and load it to your metatrader so that you don’t need to draw the moving averages yourself.
- Any Currency Pair
- 15 min. chart
- Uptrend – When the price reaches the moving averages and the candlesticks have at least three lower highs
- Downtrend – When the price reaches the moving averages and the candlesticks have at least three higher lows
The strategy was submitted in Feb, 2009 and traders are still discussing and using this strategy.