Trading strategy for scalping on the EUR/USD currency pair
Super short-term trading strategy for scalping on the EUR/USD currency pair is an optimization of the one we have already considered earlier GBP/JPY scalping strategy. to trade the euro-dollar pair.
Input parameters
- Currency pairs: EUR/USD.
- Timeframe: M1.
- Trading time: London session.
- Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.
Installation of indicators and trading strategy template
- Unpack the archive with templates and indicators.
- Copy the indicators to the folder MQL4 -> indicators.
- Copy the templates into the templates folder.
- Restarting terminal.
- We open the chart of the EUR/USD currency pair.
- Switching to the TF M1.
- Install a template named EurUsdScalp.
The schedule should look like this:
Signals indicating the opening of a long position (buying)
- The color of the histogram bar coincides with the color of the candle (both are orange).
- Putting up pending order on the upward breakout (Buy Stop) of the nearest round level above the current candle. Order parameters: Stop Loss - 5 pips, Take Profit - 10 pips.
- If the bar or candlestick changes color to black after the order is placed, the order is canceled.
- If after triggering the order there is a profit of 5 pips, the position is moved to breakeven.
Signals indicating the opening of a short position (sale)
The color of the histogram bar coincides with the color of the candle (both are black).
We place a pending order for a Sell Stop to break down the nearest round level below the current candle. Order parameters: Stop Loss - 5 pips, Take Profit - 10 pips.
If the bar or candlestick changes color to orange after the order is placed, the order is canceled.
If after triggering the order there is a profit of 5 pips, the position is moved to the Breakeven.
Note: you can only trade from one level once.
According to ForTrader.org experts, it makes sense to check the rules scalping trading strategy on the EUR/USD currency pair not only during the London session, but also during other trading sessions. It is likely that the analysis of the trading strategy application for EUR/USD and GBP/Yen pairs will allow to optimize it for other currency pairs as well.
Download trading strategy templates and indicators
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