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Everyone has a trading strategy, at least should have, no matter if it is a scalping or a long term we, as traders, always need to stick to that saying: plan your trade, trade your plan. So here is one of the strategies that I have been using in my forex endeavour. I call it: EMA touch and go.It is pretty basic and works based on the touch of the 5 EMA on a hourly chart and it is most effective in trending pairs, since it is a “follow the trend” strategy.You will need the following tools to put it into work:- Hourly chart of a trending pair (no matter the direction)- 5 EMA (red line in my charts)- 8 EMA (blue line in my charts)- 21 EMA (green line in my charts)So, what’s the plan? If the pair is trending up and the price action is above the 21 EMA, we will wait for a touch or a close near the hourly 5 EMA to enter a buy position, as shown by the black arrows in the chart below:The same plan can be applied to the down side: if the pair is trending down and price action is below the 21 EMA, we will wait for a touch or a close near the 5 EMA to enter a sell position, as shown by the black arrows in the chart below:When not to use itFirst thing you should check is the distance between …
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Likerty avatar
Likerty 19 Oct.

Yeah - with lots of experiance trader can trade any method really - even absolutely naked charts:)

Nicco avatar
Nicco 29 Oct.

I use EMAs and ticks chart

camarrone avatar
camarrone 29 Oct.

Nicco... are you using this strategy with ticks charts or do you scalp using tick charts?

bmg avatar
bmg 31 Oct.

nice article

doctortyby avatar
doctortyby 31 Oct.

@ Auto 1 - I was talking about the Spread or Range of the Price on the Chart, not the spread of the Broker. :) This is Supply and demand trading and also the Volume Spread analysis system. Good luck in trading :)

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19/58
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Scalping as you know, is about making small pips more frequently than waiting for those mega profits that's supposed to turn you into a millioner overnight.Now, before you write off scalping as just another method, just consider the benefits of scalping:1. small frequent profits - get in and get out in smaller time frame. 2. losses can be recovered - even if you have a few losers, you can still trade and hopefully recover back your loss and end the day in profit. No such chance for traders in longer time frame.3. number game - as your confidence and practice increased with scalping, it is all about increasing the number of lots without tweaking profit targets.To the system now:time frame: 15min. chart : candle. session: Europe and US.go long above high of a bullish candle [10pip range] for 2 pip target. Stop Loss - same candle close.go short below low of a bearish candle [10pip range] for 2 pip target. Stop Loss - same candle close. remember:candle range has to be at least 10 pips, bigger the better.the idea it to be in the right side of momentum.  a candle that has managed to climb 10pips or higher will manage to take that momentum forward and continue in the same direction for at least few more pips, thus[/10pip][/10pip]…
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doctortyby avatar

I personally use scalping only on Fundamental signals, correlated with Volumes and Candle Formations.+1

NagarajaAdiga avatar

oops! 2 pips tp and 10 pips sl? can't imagine it. bad strategy IMO

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