What indicator you use for scalping?
forex_trader_29148
Medlem sedan Feb 11, 2011
1916 inlägg
Mar 25, 2015 at 15:22
(redigerad Mar 25, 2015 at 15:22)
wpr ,sctochastic, macd ,rsi and some good ma
Medlem sedan Jun 14, 2013
130 inlägg
Mar 25, 2015 at 19:39
I agree with rob559, you can use a momentum indicator such as Stochastic, MACD or RSI. However these indicators (which is completely free) or any commercial indicator, in itself is useless unless you interpret them correctly in accordance with the movement of price action itself.
Basically, what I mean is that no technical indicator will help you unless you understand the concept of price action. I would recommend you first learn how to read and interpret the charts in terms of Candlestick Formations, Support and Resistance levels and Fibonacci ratios. Once you understand price action and the structure of markets and their behaviour around SR (Support and Resistance) Zones in terms of previous price action, you then use a technical indicator such as the RSI to confirm your entry or exit out of a position.
Many new traders fall into the 'trap' of using technical indicators as their only reason for entering or exiting a position. This will land you into more trouble in the long run.
If you are interested in learning about the basics of technical trading, then check out this link:
https://tradeempowered.us4.list-manage.com/track/click?u=5427bf57593195a7e5986680e&id=050dfd3ee3&e=05d904c05a
It is a Technical Trader Workshop hosted by a company in the USA called Trade Empowered and is completely free with no obligation whatsoever. I attended one of these workshops two years ago and it changed my perception of technical trading completely. I just like to emphasize that I am in no way affiliated to this company and neither have I enrolled in any of their formal trading courses, but the workshop opened my eyes completely.
If you wish to check out a video of what you can expect, then search for their YouTube videos presented by their founder Jason Stapleton at the link below:
https://www.youtube.com/channel/UCe3O5ZLxQzGz4-nfl6XLEHQ
Again, I have no affiliation to Jason, or Trade Empowered, but these guys are extremely good at what they do in teaching new traders the basics of technical trading and understanding how markets work and behave. I think this will be a good starting point for you. The only advice I can give you is to learn everything you can and then formulate your own Trading Plan, Trading Strategy and Trading Rules. Treat trading as a business and run it as one with great discipline. Success will follow.
Good luck!
Cheers
Basically, what I mean is that no technical indicator will help you unless you understand the concept of price action. I would recommend you first learn how to read and interpret the charts in terms of Candlestick Formations, Support and Resistance levels and Fibonacci ratios. Once you understand price action and the structure of markets and their behaviour around SR (Support and Resistance) Zones in terms of previous price action, you then use a technical indicator such as the RSI to confirm your entry or exit out of a position.
Many new traders fall into the 'trap' of using technical indicators as their only reason for entering or exiting a position. This will land you into more trouble in the long run.
If you are interested in learning about the basics of technical trading, then check out this link:
https://tradeempowered.us4.list-manage.com/track/click?u=5427bf57593195a7e5986680e&id=050dfd3ee3&e=05d904c05a
It is a Technical Trader Workshop hosted by a company in the USA called Trade Empowered and is completely free with no obligation whatsoever. I attended one of these workshops two years ago and it changed my perception of technical trading completely. I just like to emphasize that I am in no way affiliated to this company and neither have I enrolled in any of their formal trading courses, but the workshop opened my eyes completely.
If you wish to check out a video of what you can expect, then search for their YouTube videos presented by their founder Jason Stapleton at the link below:
https://www.youtube.com/channel/UCe3O5ZLxQzGz4-nfl6XLEHQ
Again, I have no affiliation to Jason, or Trade Empowered, but these guys are extremely good at what they do in teaching new traders the basics of technical trading and understanding how markets work and behave. I think this will be a good starting point for you. The only advice I can give you is to learn everything you can and then formulate your own Trading Plan, Trading Strategy and Trading Rules. Treat trading as a business and run it as one with great discipline. Success will follow.
Good luck!
Cheers
Keep it simple, be disciplined, get rich slowly and above all protect your equity!
Medlem sedan Jan 22, 2015
67 inlägg
Apr 06, 2015 at 20:08
Me neither!
Medlem sedan Sep 06, 2013
137 inlägg
Apr 07, 2015 at 08:54
(redigerad Apr 07, 2015 at 08:54)
No indicators needed, just knowledge....
To make my point....
Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?
Nope.....
Fundamentals are what drives the market - use those as your indicator and the pips will flow.....
Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.
To make my point....
Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?
Nope.....
Fundamentals are what drives the market - use those as your indicator and the pips will flow.....
Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.
HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
Apr 07, 2015 at 11:08
phil09 posted:https://www.myfxbook.com/members/rajivzz/wow-ea/1193575
@rajivzz
any link? I can't find in google.
Its working No GRID, No MARG, No ARB, No HEDGE ,No HFT Open and Close single trade at a time Avg. Trade Length: 1 Hour Expectancy: 1.8 Pips Near 600 Pips Made in 2.5 months Verified Real Account (Double Green Ticks)
forex_trader_254009
Medlem sedan Jun 02, 2015
4 inlägg
Jun 02, 2015 at 14:18
tick chart
Medlem sedan Nov 21, 2011
1718 inlägg
Jun 02, 2015 at 15:01
BenNathanFX posted:
No indicators needed, just knowledge....
To make my point....
Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?
Nope.....
Fundamentals are what drives the market - use those as your indicator and the pips will flow.....
Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.
Interesting... just kidding!
Off course it exists... there are pleny to download for free on FF.
They provide realtime data and they are very accurate. Don't tell me ignore this lol.
just a screenshot!
AUD strongest
USD weakest
This tool usually called (Currency Strength Analyser or Pair Strength Analyser) provides this data.
Bilagor:
Medlem sedan Nov 21, 2011
1718 inlägg
Jun 02, 2015 at 15:02
This is the best indi you can trade with scalping as you will be always fousing the pair that moves in one direction.
Medlem sedan Dec 15, 2010
795 inlägg
Jun 02, 2015 at 20:04
Interesting..
Click on my Name to see My Live Charts and Bio.
Medlem sedan Nov 21, 2011
1718 inlägg
Jun 02, 2015 at 20:34
Jun 07, 2015 at 16:03
phil09 posted:
I'm newbie here, and I would to know what indicator you use for manual trading (scalping).
you should do some months practice on 'stochastic' or 'relative strength index' in m1 chart you better stay away for news timings bcz no one knows where the market goes that time... good luck😉
“The past can't hurt you anymore, not unless you let it.”
forex_trader_254009
Medlem sedan Jun 02, 2015
4 inlägg
Jun 08, 2015 at 07:06
Tobyh posted:
tick chart
-34 tick chart with RSI
-buy on positive divergences, sell on negative divergences.
-use the 30 and 70 levels on the RSI to show when to take profit or stop loss which are executed at market manually.
Medlem sedan Jan 06, 2014
24 inlägg
Jul 04, 2015 at 06:09
JacoAF posted:
I agree with rob559, you can use a momentum indicator such as Stochastic, MACD or RSI. However these indicators (which is completely free) or any commercial indicator, in itself is useless unless you interpret them correctly in accordance with the movement of price action itself.
Basically, what I mean is that no technical indicator will help you unless you understand the concept of price action. I would recommend you first learn how to read and interpret the charts in terms of Candlestick Formations, Support and Resistance levels and Fibonacci ratios. Once you understand price action and the structure of markets and their behaviour around SR (Support and Resistance) Zones in terms of previous price action, you then use a technical indicator such as the RSI to confirm your entry or exit out of a position.
Many new traders fall into the 'trap' of using technical indicators as their only reason for entering or exiting a position. This will land you into more trouble in the long run.
If you are interested in learning about the basics of technical trading, then check out this link:
https://tradeempowered.us4.list-manage.com/track/click?u=5427bf57593195a7e5986680e&id=050dfd3ee3&e=05d904c05a
It is a Technical Trader Workshop hosted by a company in the USA called Trade Empowered and is completely free with no obligation whatsoever. I attended one of these workshops two years ago and it changed my perception of technical trading completely. I just like to emphasize that I am in no way affiliated to this company and neither have I enrolled in any of their formal trading courses, but the workshop opened my eyes completely.
If you wish to check out a video of what you can expect, then search for their YouTube videos presented by their founder Jason Stapleton at the link below:
https://www.youtube.com/channel/UCe3O5ZLxQzGz4-nfl6XLEHQ
Again, I have no affiliation to Jason, or Trade Empowered, but these guys are extremely good at what they do in teaching new traders the basics of technical trading and understanding how markets work and behave. I think this will be a good starting point for you. The only advice I can give you is to learn everything you can and then formulate your own Trading Plan, Trading Strategy and Trading Rules. Treat trading as a business and run it as one with great discipline. Success will follow.
Good luck!
Cheers
I'd just like to add that I've also done the workshop and went on to do their full course on harmonics and advanced patterns, one of the real courses I've done, meaning it's not a scam and they can really trade, I joined the trading room with Akil Stokes and watched him make over 900 pips in a month live on a real account, it was definitely worth the investment.
Also like to add that I to have no affiliation with the company.
Don't listen to and follow the BS online.
