simple profitable 5pip scalping strategy
Hello everyone......
I started writing this article to share my strategy with you in the hope that anyone who wants to can help confirm my findings and improve upon it further.
The rules of entry are very simple...
We have 15 lwma (orange)
25 smma (green)
290 lwma (red)
and a baboon ramp (red and white)
When all 3 moving averages move up and the baboon is white, you buy. Set a target price of 5 pips and an emergency stop loss of 20 pips.
Re-enter after a profitable trade when the Baboon slope changes from red back to white and all 3 moving averages are following (if the Baboon is still white, don't re-enter, it must first turn red and then back to white)
The opposite is true for sell signals.
In this example, there are 7 winning signals and 2 losing signals, the entry point is a yellow arrow and the exit point is red.
How to use green smma to detect transaction failure...
Here we would have taken the trade because the condition was right at the yellow arrow, but slowly things started to turn and eventually the green smma started moving in the opposite direction, so we ended the trade with a small loss
When to trade and when not to trade…
I find that the best time to trade is during London trading hours when volatility tends to be greater. I was up at 7am GMT and by then everything seemed to be falling into place and until sometime between 4pm and 5pm (GMT apparently) everything was fine.
If things are flat then you may get false signals, so if green and orange interact with each other a lot or worse avoid using all 3 signals that look flat
As always, big news announcements can shake up the market and cause you to scramble before you can close your trade! At least half an hour for Party B.
I'm currently focusing on 2 pairs, EUR/USD and USD/JPY, as they have the potential for large moves in tight spreads .
As far as I know, you can earn around 50 to 100 points a day.
As I said, I'd like to see what people think and what can be done to improve this. I'm developing an indicator that lets you know when a condition is met, but currently it draws on every candle, not just the first candle, and then doesn't draw again until the condition is broken and then met again, so any help would be great.
All suggestions welcome.
I need a better template, but here's the joy of hunting with Babunpo.
I started writing this article to share my strategy with you in the hope that anyone who wants to can help confirm my findings and improve upon it further.
The rules of entry are very simple...
We have 15 lwma (orange)
25 smma (green)
290 lwma (red)
and a baboon ramp (red and white)
When all 3 moving averages move up and the baboon is white, you buy. Set a target price of 5 pips and an emergency stop loss of 20 pips.
Re-enter after a profitable trade when the Baboon slope changes from red back to white and all 3 moving averages are following (if the Baboon is still white, don't re-enter, it must first turn red and then back to white)
The opposite is true for sell signals.
In this example, there are 7 winning signals and 2 losing signals, the entry point is a yellow arrow and the exit point is red.
How to use green smma to detect transaction failure...
Here we would have taken the trade because the condition was right at the yellow arrow, but slowly things started to turn and eventually the green smma started moving in the opposite direction, so we ended the trade with a small loss
When to trade and when not to trade…
I find that the best time to trade is during London trading hours when volatility tends to be greater. I was up at 7am GMT and by then everything seemed to be falling into place and until sometime between 4pm and 5pm (GMT apparently) everything was fine.
If things are flat then you may get false signals, so if green and orange interact with each other a lot or worse avoid using all 3 signals that look flat
As always, big news announcements can shake up the market and cause you to scramble before you can close your trade! At least half an hour for Party B.
I'm currently focusing on 2 pairs, EUR/USD and USD/JPY, as they have the potential for large moves in tight spreads .
As far as I know, you can earn around 50 to 100 points a day.
As I said, I'd like to see what people think and what can be done to improve this. I'm developing an indicator that lets you know when a condition is met, but currently it draws on every candle, not just the first candle, and then doesn't draw again until the condition is broken and then met again, so any help would be great.
All suggestions welcome.
I need a better template, but here's the joy of hunting with Babunpo.
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