Following are the chart set up with indicators
1. 10 EMA(close) with any suitable colour
2. Bollinber bands with 18 Deviation 2 period, close and zero shift
3. PSAR step 0.018 and Max 0.08
4. MACD with default settings but close value
5. RSI 14 period close with level 50
Set up the chart and only try to trade the first three hours of any trading session. try to stick only to EURUSD pair as this strategy will work in better way.
BUY WHEN
1. when 10 EMA crosses above middle of BB
2. MACD is above zero line
3. RSI is above 50
4. Use PSAR as only visual trend direction aid.
SELL WHEN
reverse whole procedure fron above.
Please keep 10 pip stop loss and and profit 5 pips and above. some time you will catch bigger trend as well.
Please practice this on demo account and post your results here alongwithvaluable suggestions.
i dont know how to make an expert in metatrader. any one knows please help out for me and for others as well.
please post your observation with concern and for interest of every one
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Monday, October 29, 2007
1 M EURUSD Scalping Strategy
Posted by Forex at 7:14 AM
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