Please take a few minutes to read our rules before posting: Forex-Station's Rules. Are you following them?

10 pip scalping indicator suggestion

1
i am new to forex trading, i am testing indicator for mix and match in MT4
my goal is 10 pip scalping nothing more,
can any expert suggest an NRP - indicator or combination of NRP indicators for MT4 ?
** so far i tried one from 10 best NRP, (trend scalp 1.01(MTF+arrow + alert )
but not sure of synchronization with main chart OR probably i don't know how to analyze properly,
do i need any other indicator in main window ??
i prefer 5 min/15min/30 min/1Hr (MAX) time frame
if any indicator or combination of indicator possible ?
suggestion and help greatly appreciated
thanks


Re: 10 pip scalping indicator suggestion

2
neel wrote: Sat Jun 26, 2021 6:30 am i am new to forex trading, i am testing indicator for mix and match in MT4
my goal is 10 pip scalping nothing more,
can any expert suggest an NRP - indicator or combination of NRP indicators for MT4 ?
** so far i tried one from 10 best NRP, (trend scalp 1.01(MTF+arrow + alert )
but not sure of synchronization with main chart OR probably i don't know how to analyze properly,
do i need any other indicator in main window ??
i prefer 5 min/15min/30 min/1Hr (MAX) time frame
if any indicator or combination of indicator possible ?
suggestion and help greatly appreciated
thanks
Try the Xard trend system viewtopic.php?p=1295437810#p1295437810

Re: 10 pip scalping indicator suggestion

4
neel wrote: Sat Jun 26, 2021 8:34 am Thank you very much for such a quick response , Appriciated
Hey Neel, do you want to scalp counter-trend or with the trend?

Depending on your answer, I'll make some recommendations and post a template for you but firstly just understand that:

  • A quick 10 pips is easily achievable counter-trend and works almost always but is risky.
  • 10 pips with the trend can be a bit of a waiting game and can be discouraging as price retraces etc. but is the textbook method and regarded as "safe". Just remember, safe doesn't always work

First word of advice, if you're looking for a quick 10 pips, use Volatile Forex Pairs.

  • GBPJPY
  • GBPNZD
  • EURNZD
  • GBPAUD

Let me know and I'll post some templates later :)
These users thanked the author Jimmy for the post:
太虚一毫
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance

Re: 10 pip scalping indicator suggestion

5
Jimmy wrote: Sat Jun 26, 2021 3:52 pm Hey Neel, do you want to scalp counter-trend or with the trend?

Depending on your answer, I'll make some recommendations and post a template for you but firstly just understand that:

  • A quick 10 pips is easily achievable counter-trend and works almost always but is risky.
  • 10 pips with the trend can be a bit of a waiting game and can be discouraging as price retraces etc. but is the textbook method and regarded as "safe". Just remember, safe doesn't always work

First word of advice, if you're looking for a quick 10 pips, use Volatile Forex Pairs.

  • GBPJPY
  • GBPNZD
  • EURNZD
  • GBPAUD

Let me know and I'll post some templates later :)
Thank you, Jimmy,
Yes i know and fully aware of the risky nature of Forex, here is my story I am good on stocks/MF so I decide to give a try FOREX, I listen to city radio commercials they charge 5K to learn, as usual, every day Earn $300-1000, we have special software, indicator, technic, blah..blah...blah ...but when you go there than in sweet word the downblouse lady tells you NO Guarantee of anything, means your 5K loss is booked once you hire them to teach you how to learn forex, so i decide rather pay
let me open an account of 5K and start, which means I will smash my car with my own hand rather I hire a driver to do that ** FEW MONTHS OF DEMO ACCOUNT PRACTICE MUST NEEDED ** DON'T put your hard-earned money with 0 experience.
after demo practice, I started FOREX 6-8 months ago with learning and investing I made $1300 in 3 months, mostly eurUSD and USDollar than US election came USdollar crashed my Forex portfolio down all profit and almost 1K of my principal * please note i mentioned * portfolio down NOT Lost , because i never close the trade as I have holding power, top of that I was new so i want to know what happened if i keep the trade long time, on even in loss, finally last week USD went up, i cover all my principle as well $300 from that profit too. (Still $1K lost in earned profit but thats nature of business and i am student ) but within this time i come to the conclusion
1) for any investment you must have holding power, if you have $2K/5K/10K for only 2-3 month ,if you think that within 2-3 month you make it double IT WON"T WORK most case you will lose everything especially if you are a newbie.
2) my own experience and preference, I take a larger K-lot (its very Risky), which means $5-8 per pip but Take profit MAX 6-10 pip, so every trade you make $25-35, just take 5-6 trade per day, That's ALL !! end of the Day I have capped my profit $110-130 per day (based on my principle)
i don't won't to become Jeff Bezos in a week.
3) i am new to this keep learning, doing many mistakes,

Yes Jimmy, thank you for your quick response,
i am fully aware of the nature of Forex and involved risk.
please suggest a counter-trend technique, also i never trade on those volatile pairs which you mentioned but sure i will give it a try.
with small K value first to see,
thank you in advance.


Re: 10 pip scalping indicator suggestion

7
RplusT wrote: Sat Jun 26, 2021 9:15 pm You could simply use Xard's latest update. It puts a lot of trades in your favor. No hassles.
Also, just for locking in 10 pips, I'd use low spread Indices like the GER30 which I trade with 0.5 points and no commission.
Just my 3 Cents.
Thank you,
not a bad idea, but GER30 required a high Margin i am using FXCM (Canada), the commission is 0 but the margin for 5K ($0.76/1 pip ) is $1900
where major currency EURUSD same 5K order is only $730
btw I download Xard but its quite congested with too many details so not sure how to analyze
is this the new one => XARDFX HL MM 30m Roadmap +5m Trading.zip
or this one *XARDWORLD.zip
* what are the key time frame and signal i should keep in mind for get entry and exit in XARD system ?
thanks again

Re: 10 pip scalping indicator suggestion

8
DVanAssen wrote: Sat Jun 26, 2021 6:39 am Try the Xard trend system viewtopic.php?p=1295437810#p1295437810
The thing is that there is no tit in hand on the market. There are only cranes in the sky that you need to be able to catch.
If you want to have 10 pips take profit, then you will be in negative expectation and end up with a margin call, because the math will do the job.
Losses in the market have the property of asymmetry, this is when you have lost 50% of the account,
then you need to win already 100% of the balance in order to get yours back. And after the second loss, if you have not yet won back it, your losses acquire a geometric progression.
It is impossible to get out of this trap without Martingale.
be careful

P.S.
it is necessary to look not for 10 pips, but 1000 pips for the take profit. Then the forecasts of the state of the deposit will be optimistic

Re: 10 pip scalping indicator suggestion

9
Intrest 1 wrote: Sun Jun 27, 2021 2:15 am The thing is that there is no tit in hand on the market. There are only cranes in the sky that you need to be able to catch.
If you want to have 10 pips take profit, then you will be in negative expectation and end up with a margin call, because the math will do the job.
Losses in the market have the property of asymmetry, this is when you have lost 50% of the account,
then you need to win already 100% of the balance in order to get yours back. And after the second loss, if you have not yet won back it, your losses acquire a geometric progression.
It is impossible to get out of this trap without Martingale.
be careful

P.S.
it is necessary to look not for 10 pips, but 1000 pips for the take profit. Then the forecasts of the state of the deposit will be optimistic
you are absolutely right, i started with 100+ pip, but i end up with 40% loss at one point but because of holding power, i didn't get a dent. it like...
1) take 1-2 trade per day/days with expect 100/1000 pip (profit or loss) = stay longer time exposer active trade is far more higher risk of loss but you pay less commission
2) take 6-10 trade per day with 10 pip (profit or loss) = less exposure to active market 10 out of 7 you can win but still 3 you face loss Also you pay more commission
as well you need holding power too.
not sure right or wrong but for me (2) is more fit as per my personal nature and risk capacity
thats why i decide to play 10 pip scalping strategy for next 6 month to see the outcome.
thank you again to give your input

Re: 10 pip scalping indicator suggestion

10
neel wrote: Sun Jun 27, 2021 2:05 am Thank you,
not a bad idea, but GER30 required a high Margin i am using FXCM (Canada), the commission is 0 but the margin for 5K ($0.76/1 pip ) is $1900
where major currency EURUSD same 5K order is only $730
btw I download Xard but its quite congested with too many details so not sure how to analyze
is this the new one => XARDFX HL MM 30m Roadmap +5m Trading.zip
or this one *XARDWORLD.zip ?
** how to set screen resolution on XARD ?
* what are the key time frame and signal i should keep in mind for get entry and exit in XARD system ?
thanks again


Who is online

Users browsing this forum: No registered users and 6 guests