New Pip Pincher Method (PPM) - MT4/MT5 Resources
Hello everyone,
I have been silently absorbing the knowledge and experience of this wonderful forum----Finally, I have decided to share with you a simple but very profitable scalping method----Comments, feedback and improvements are very welcome----but I prefer to keep it simple and bare----
This method is just an improvement on an existing method I saw somewhere - so real credit goes to whoever originally designed it -
I call it the Pip Pincher Method (PPM) after Linda Raschke's (my favorite) -
One millionth:
1. Start by pulling out the 5 minute chart of your favorite currency pair (I prefer EUR/JPY because of the low spreads and good volatility)
2. Insert 3 EMAs (weighted closing price, i.e. HLCC/4)
3. Insert 100 SMA (Close)
4. The 100 SMA is like a magnet – price tends to move away from or closer to this line
5. Now, watch for a volatility reversal around the 3 EMA
6. Enter on a close outside the 3 EMA or on a bar close ---- (See chart for details) --- Watch the price action as it approaches the 100 SMA
7. Stop loss @ swing high or 10 pips (including spread)
Exit on or before the 3rd bar close or at trader's discretion (I aim for 3-5 pips per trade)
The success rate of this method is very high - and you will have many opportunities in one trading day - so don't be greedy and imagine that with 10 trades, you can earn at least 20-30 points per day - you are a millionaire!
Enjoy your weekend and happy hunting,
I have been silently absorbing the knowledge and experience of this wonderful forum----Finally, I have decided to share with you a simple but very profitable scalping method----Comments, feedback and improvements are very welcome----but I prefer to keep it simple and bare----
This method is just an improvement on an existing method I saw somewhere - so real credit goes to whoever originally designed it -
I call it the Pip Pincher Method (PPM) after Linda Raschke's (my favorite) -
One millionth:
1. Start by pulling out the 5 minute chart of your favorite currency pair (I prefer EUR/JPY because of the low spreads and good volatility)
2. Insert 3 EMAs (weighted closing price, i.e. HLCC/4)
3. Insert 100 SMA (Close)
4. The 100 SMA is like a magnet – price tends to move away from or closer to this line
5. Now, watch for a volatility reversal around the 3 EMA
6. Enter on a close outside the 3 EMA or on a bar close ---- (See chart for details) --- Watch the price action as it approaches the 100 SMA
7. Stop loss @ swing high or 10 pips (including spread)
Exit on or before the 3rd bar close or at trader's discretion (I aim for 3-5 pips per trade)
The success rate of this method is very high - and you will have many opportunities in one trading day - so don't be greedy and imagine that with 10 trades, you can earn at least 20-30 points per day - you are a millionaire!
Enjoy your weekend and happy hunting,
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