Showing posts with label Scalp. Show all posts
Showing posts with label Scalp. Show all posts

Friday, November 21, 2014

Magic Bands Scalp Trading Strategy As As November 21, 2014

There was good volatility in the Forex markets today and some excellent opportunities using this simple strategy.

Let's review a couple charts.

First is AUDUSD, you can see a nice move up and then a gradual move down, two simple entries for profit.





Next is EURGBP. There was a nice bearish entry and then another on a retrace. It is important to  be sure that there is a slope on the 15 Bollinger Band and preferably on both sets of Bollinger Bands. This will keep you out of the chop.



GBPUSD. There were a couple bear entries, the second one being after a retrace. Once those two were finished, the next couple  of the potential entries were suspect based on the slope of the BB lines.




I have several more charts below, that you can observe..... note that the best entries have a good slope on the Bollinger Bands.








USDCHF Once the long move finishes the Bollinger Bands flatten out.. close the trade and look for another trade, avoid consolidations and ranging markets with this system. There are many opportunities daily with this system on different currency pairs




On the AUDCHF, once the price retraces to the 50 Bollinger Bands, it is time to get out of this pair and look for another pair to trade. There is no value to trading in the choppy market, it usually ends up in a loss.





CADCHF  Once the long entry retraces.... get out of this pair and look for another entry on another pair...  Stay away from the consolidation periods!





As mentioned, most important is the slope of the Bollinger Bands. There are enough entries available on different pairs that we can pick and choose and be selective as to the entries we take.

In order to be able monitor several pairs for trade opportunity I have a moving average crossover alert set for the 15 crossing the 50, That allows me to be aware of what is happening on different currency pairs as the day passes.

Again, a stop loss is important in this type of trading, I use a trailing stop as well.

Next week we will probably see more volatility in the markets and many resultant opportunities for this simple trading strategy.


Good Trading..!!

Monday, November 17, 2014

Magic Bands Scalp Trading Strategy as at November 17, 2014


With some volatility in the currency markets today there were many opportunities for profits on the 5 minute charts using the Magic Bands Scalp Strategy.

I have prepared a brief video showing potential trades that occurred today.

Magic Bands is a simple trend following strategy using Bollinger Bands and a Bollinger Bands Stops indicator.

The Magic Bands Scalp Strategy is excellent for Forex trading due to the trends in Forex currency pairs.









More information re Magic Bands Scalp Strategy

Sunday, November 16, 2014

Magic Bands Scalp Trading Strategy as at November 16, 2014


To demonstrate the Magic Bands Scalp Trading Strategy I have a few pics of Forex charts taken a few bars after the open and  you will be able to see how several pairs opened.

There were several opportunities for entries with this system as you will easily see as you look at the video.











Some information on the Magic Bands Trading  System on this post

Good Trading!

Saturday, November 15, 2014

Magic Bands Scalp Trading Strategy, November 14, 2014



The Magic Bands Scalp trading strategyhad some interesting activity on Friday.

The first chart is Google, 5 minutechart. You can see that there were several entries and up until noonwere some nice profits to be had in the down trend.








Here is EURJPY 5 minute, you will seetwo excellent long entries and a short entry, excellent profits to behad from this pair on Friday.






USDJPY, 5 minute, had some nice moves on Fridayand as you can see from the chart there were some nice long entriesand some nice short entries.






With this strategy it is post important that the trader ascertain a trend before deciding on any entry.

and again......

Caution to the trader: The Magic Bands Scalp Strategy is a trend following system, it is most critical that a trend be verified before any entries made.


Here is a video made just after the open on November 16 showing several Forex Pairs 5 minute charts.

Magic Bands Scalp Trading Strategy

This Magic Bands strategy is a trend following tradingstrategy which allows the user to work with fast charts like fiveminute and have reasonable confidence in the system.

The system uses Bollinger Bands andBollinger Bands Stop indicators.

The Bollinger Bands are used to detecttrend, there are two sets of Bollinger Band indicators on the chart.

The Bollinger Bands settings are asfollows:

50, 0.05
15, 0.05

This gives and effect similar to usingtwo moving averages, but a little wider.

The settings for the Bollinger BandsStop indicator are 16,2

The setup for short entry will be whenthe Bbstop is above the price bars, the price is below the 15Bollinger Bands as well as both are below the 50 Bollinger Bands.

The long entry will be available whenprice bars are above the Bbstop as well the 15 Bollinger Bands areabove the 50 Bollinger Bands.

Note: Because this is a trendfollowing system, it is best to ensure that there is a slope to theBollinger 50 before entering. This system will be expensive to tradein a range bound market.

Suitable Markets:

  • Forex
  • Indexes
  • Stocks
  • Futures
  • CFD's









Here are some one minute charts of Google, you can see that there are some nice moves illustrated, Google is quite volatile most days and gives an excellent opportunity for profits








Caution to the trader: The Magic Bands Scalp Strategy is a trend following system, it is most critical that a trend be verified before any entries made.