Welcome my friend to this video tutorial on a Simple Forex Scalping Strategy. I’ll be giving you the basics, and then a couple of extra details that may help increase your win-loss ratio.
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In this video you’ll see that I’ve got Bollinger Bands with a standard deviation of 2.20. I don’t use the middle band with this simple Forex scalping strategy, so that is set to transparent. Instead of the middle band, I like to use the 15 EMA and that’ll be my black line. Now that you know the parameters, let’s go over this simple Forex scalping strategy.
A Simple Forex Scalping Strategy
With these settings, we’re looking for a bar to have a real body outside of the Bollinger Bands. That’s going to be our signal to set up for a trade, and then I’ll show you where I get into the trade. It’s not just the highs and the lows, that’s not what we’re looking for. We’ve got an entire red real body outside, and here we have a green body outside as well. That comes in a bit early, and we get a red bar with a real body. That’s our signal, but not our trade.
So what do we trade? Well, here’s what we trade! We look for that set up and then we go over here where we’ve got from the upper Bollinger Band to the lower, and then we wait for the market. We have a little high and it kind of go sideways here, but then at this next low, it does not touch the lower Bollinger Band. That’s where we would enter. We get our pattern there outside the Bollinger Bands touches here, but does not touch here, so we make a higher high.
We’re looking for either a little higher low, equal low or a little bit of a lower low, without touching the Bollinger Bands. My favorite is this kind where you actually get a higher high and it does not touch the Bollinger Bands, but it could be any of those three. You want some sort of retest of that high, some sort of retest of that low. The key is it cannot touch the lower Bollinger Band, or the upper Bollinger Band, depending on whether you’re going long or short.
Let me show you one thing you’ll want to avoid. An example is where we just went down with one single impulse move, and we got a bar outside the Bollinger Band. We would be looking to go long here, but we’re not going to do that. Why? Because that’s too early in the impulse move down. When you’re early in a new impulse move, it’s more likely for it to continue in that direction. You don’t want to trade against the dominant energy of the market early in a new trend.
If we’re gonna trade against the trend, which is really what this simple Forex scalping strategy is, then we want to wait unto we’re late in a trend. The odds are better that we’re going to have success.
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