Scalping the hourly candle

[dsugums]

Have been a while since I posted any strategies for this forum. Thought I share this system I am running quite good at the moment.

Its a simple scalper that aim for TP: 15 SL:15. Even though the ratio no favourable, but the win rate is about 70-80%.

Here is the rules for the scalping.

Long/Short

1) Wait for H1 candle to close.

2) At xx:15 hour, add pending BUY order at high H1 + 1 pip + spread with TP 15 SL 15. Sometime pa will be above/below the level, so wait pa to retrace to trigger the pending lines.

3) For SELL order, add pending SELL at low of H1 - 1pip with TP 15 SL 15.

4) Maintain this two orders even if one the trade is triggered. PA will hit TP or SL and trigger the other side of pending or just fark around.

5) At the next H1 candle, delete previous pending orders (if any still remains) and add new pending at high and low at xx:15.

6) If a trade still active on the long/short position, we don't add pending at the same direction but still add pending at the opposite side.

7) Trading pair need to be volatile enough to trade this method. Hourly volatility need to be above 20pips (use the VolalityChart to select the pair).

8) Best to trade low spread pairs like GU,GY,EY with more that 20pip H1 candle.

9) Rinse and repeat

[matt_32]

Check this out.

http://www.stevehopwoodforex.com/phpBB3 ... =21&t=3899

This is an idea that we had a while back and maybe of some help


Matt

[nixxx]

win rate is about 70-80%.

Very nice! Thank you! For how long do you trade this strategy ?

[matt_32]

I used this for some testing ...but didn't get far.

Maybe you will get more lucky than I did.


Best of luck

Matt

[manfloy]

hey ya, can u illustrate some of ur trades, i mean to insert some examples on the charts, to be more clear, :hi:

[GT3RS]

Very surprised this deceptively simple strategy hasn't attracted more attention.

Would have thought it perfect for a bot!!

[skinner36]

Hi dsugums,

Are you still trading this. If so, how is it going?

Thanks,

John