Trail Forex Scalping Trading Strategy

If you like to scalp the forex market for profits, it is paramount that you go for a reliable trading strategy, one that is easy to adopt, yet it has the potential for triggering profitable entries.

Take a look at the trail forex system that I’ve designed using basic trading indicators, it is a great way to start your journey as a scalper.

Chart Setup

MetaTrader4 Indicators: TrailCD.ex4 (default setting), buzzer.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes

Recommended Trading Sessions: New York Open | London Open

Currency Pairs: Low spread pairs, for example the EUR/USD and USD/JPY.

Download

Download the Trail Forex Scalping Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Place a buy entry if the following conditions or rules hold true:

  1. If the line of the buzzer custom indicator turns lime, it is an indication that price is witnessing an upward thrust, a move that obviously should trigger the opening of buy position(s).
  2. If the royal blue histograms of the TrailCD.ex4 custom indicator aligns itself above the 0.00 signal level, price is said to be experiencing bullish sentiment i.e. a trigger to go long on pair of interest.

Stop Loss for Buy Entry: Place stop loss below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following indicator or chart patterns are on display:

  1. If the existing lime colored line of the buzzer custom indicator changes to red as shown on Fig. 1.0, it is an indication that price is making a U-turn and traders are advised to exit or take profit accordingly.
  2. If the royal blue histograms of the TrailCD.ex4 custom indicator declines into the zero level and eventually aligns below the 0.00 level, it is a trigger to exit or take profit without delay.

Sell Entry Rules

Place a sell order if the following rules or conditions are in place:

  1. If the line of the buzzer custom indicator turns red as depicted on Fig. 1.1, it is an indication that price is experiencing a downward push, a move that obviously should signal the opening of sell position(s).
  2. If the royal blue histograms of the TrailCD.ex4 custom indicator aligns itself below the 0.00 signal level, price is said to be experiencing bearish sentiment i.e. a trigger to sell the FX pair of interest.

Stop Loss for Sell Entry: Place stop loss above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following indicator or chart pattern takes precedence:

  1. If the existing red colored line of the buzzer custom indicator turns lime as shown on Fig. 1.1, it is an indication that price is making a reversal and traders are advised to exit or take profit accordingly.
  2. If the royal blue histograms of the TrailCD.ex4 custom indicator squeezes into the zero level and eventually aligns above the 0.00 level, it is a trigger to exit or take profit without delay.

Fig. 1.1

Free Download

Download the Trail Forex Scalping Trading Strategy

About The Trading Indicators

The TrailCD.ex4 custom indicator is a technical study that depicts convergence/divergence of the fast and slow trails.

The buzzer indicator defines bullish (lime) and bearish (red) market sentiments based on modified moving averages.

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