A Fifteen Minute Strategy – Strategy M as a Home Made Strategy!

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15 Min Scalping Strategy – Simple and Effective Forex Trading Strategy

Basically all we’re looking for is an attempt to extract small but frequent gains in the market. Scalping strategy is focusing on the short-term time frames. When we’re trying to trade on an intraday basis, there are certain advantages like it removes the guesswork of trying to identify the long-term or the medium-term trends and as a result, we really don’t need to pay too much attention of where price might end up a week from now, because we’re more focused on what’s going to happen today or maybe in the next hour of trading. We created this powerful 15 min Scalping Strategy to show you how you can consistently generate results by just using standard indicator (RSI Indicator) and trading only 1 trade per day (trade only London Open session).

I hope that at the end of this article you have a clear idea of how to use a 15 min chart to successfully implement the scalping strategy in your everyday trading. This is an easy strategy to follow and of course at the same time very profitable with a high risk to reward ratio.

There are certain portions of scalping that makes it attractive and there are certain portions that makes it less attractive. The good part about scalping is that reduces the duration of exposure as the longer you stay in the market, the longer you’re extending your risk and the potential for an adverse move that can cause you a loss is higher. Generally speaking scalping offers more opportunities in any given swing and there is a continuous action and engagement with the market. The bad things of scalping are the high cost of commissions and fees and requires a high level of self-discipline in taking losses.

Because of the many advantages scalping gives the majority of traders wants to scalp, but scalping profitably is a nightmare and not everyone has the right personality and psychology to emulate this type of trading. Ultimately, you’re the only one who can answer this question and you need to find by yourself if scalping really is for you as it all comes down to whether or not your personality fits into scalp trading.

Going further, I’m going to introduce you to a very easy strategy that will teach you what and when to scalp with discipline and designed to make your life much easier.

15 Min Scalping Strategy for London Open

This strategy is designed to work around the London open and New York open, however the same principle can be applied to the other major opening trading sessions as well. The simplicity of this strategy comes from the fact that it only uses one indicator – the RSI indicator, which will help you spot divergence in prices. This strategy also makes perfect use of the time of the day significance, because the majority of the times the big moves on an intraday basis happens during the opening of the London and New York session. Another major advantage that this strategy gives you the possibility to not be stuck at your screen all day long and to have a better time management.

Let’s not waste any more time and proceed further with a short summary of our scalping strategy.

The 15 Minutes London Open Scalping (Can also be applied to New York Open)

  1. Currency Pairs: Preferable GBP/USD and EUR/USD, but works on other pairs as well;
  2. Time Frame: 15 Minutes;
  3. Indicators: RSI with Period= 14;
  4. Define Asia Trading Range: Establish the range from 0:00 GMT to 6:00GMT;
  5. BUY Signal: A break below the Asia Range with divergence spotted in RSI is desired to be faded and be bought;
  6. SELL Signal: A break above the Asia Range with divergence spotted in RSI is desired to be faded and be sold;
  7. Stop Loss for Sell/Buy Trade : 10 Pips above/below the breakout candle;
  8. Target for Sell/Buy Trade:
  • Option 1: At least 1 standard deviation, but the desirable target would be 2 SD;
  • Option 2: Target the 5 Day ATR;

15 Min Scalping Strategy – Simple and Highly Effective Forex Trading Strategy

We’re going to move further and look at some practical examples that will show you how this strategy works.

First Example is a long GBP/USD setup right at London Open where we have a false breakout to the downside of the Asia range with spotted RSI divergence which is a BUY trigger signal. Our SL would have been 10pips below the breakout candle and also below the most significant swing low point. The take profit level is calculated as follow you measure the distance in pips of Asia range and project that range to the upside. In our case we have a 25 pips range, which means that a move to the upside of the same magnitude would equal 1 standard deviation.

15 Min Scalping Strategy especially effective during London Open when volatility is high

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In our second example we’re going to have a look at some short opportunities in EUR/USD. Once again the breakout of the Asia range in confluence with RSI divergence has produced a nice short opportunity. Our short signal was triggered at the London open once we had the false breakout of the Asia range with spotted RSI bearish divergence. The potential profit on this trade is much bigger as price traveled twice the distance of Asia range and we could have captured a two standard deviation move.

15 Min Scalping Strategy – When you spot a divergence, pull the trigger as this is a highly reliable signal

Last but not least we’re going to look into an opportunity that would have not worked out and in this case we’re going to look at USD/JPY. We have breakout of the Asia range with spotted bullish divergence, however, this time around the trade would cause us a loss. One particular lesson that can be learned from this trade is that whenever we have a wide Asia Trading range, with the market trading heavily on one side it’s best to not trade that pair at all, because key feature to this strategy is the need to have a narrow Asia range.

The 15 min scalping strategy uses only the standard RSI indicator that comes with your standard MT4 trading platform. You really don’t need any fancy indicators to do well with this strategy… or in fact to do well in Forex. Don’t pay too much attention to fancy indicators created by Forex marketers. Practice well with this 15 min scalping strategy and do let us know your success story. We love to hear from you. Comment below…

A Zero to a Million Trading Strategy

SPECIAL REPORT: Jack’s “Zero to a Million” Trading Strategy

Right now I’m revealing what my trading strategy is for the “Million Dollar Forex Journey” account! If you want to see an additional strategy you can try out our profitable double trend trap strategy.

  • We’re going to make a million dollars (or more) through forex trading.
  • We’re going to do it in 18 months (or less).
  • We’re going to start with next to nothing, $50.

I’m going to give you the basics of my trading strategy today. Then I’ll share more details about it in future follow-up articles.

This strategy IS designed to consistently offer excellent risk/reward opportunities. When executed with a modest amount of intelligence, lucky for me that’s all it requires, should consistently produce winning trades. The trades will outnumber and outpace losing trades. Here is another strategy called, Time-Based Trading Strategy.

MY 15 MINUTE CHART STRATEGY

HERE IT IS. The deep, dark, mysterious, intricate, and secret system. It was worked out by an ancient Chinese Taoist sorcerer. It was kept closely guarded for centuries by inscrutable Zen currency traders:

Open a new chart, set the time period to 15 minutes. Load 3 EMAs (exponential moving averages) – the 5, 10, and 50 EMA. When price and the 5 and 10 EMA lines all cross above the 50 EMA line, buy. Or, conversely, when they all cross the 50 EMA line, sell. I know, I know – the complexity of it is staggering, right?

You can also add the 21 and 35 moving averages – as well as the 100 and 200 SMAs (simple moving averages). Just for higher time frame reference – but the 5,10, and 50 provide the basic trading strategy. I use EMAs weighted to the close – but that’s my personal preference.

I’ve adjusted things a bit to my own personal trading style. But the credit for this outstanding strategy goes to a friend and fellow trader, Clay Ferrell. He was nice enough to share it for free at the Forex Factory forum. You can read more here, “Trading Systems CHOROS System.” But fair warning, there are 500+ pages of discussion – and that’s not even the original discussion thread.

The original rule is to enter on the first retrace touch to the 10 MA. After price and both MA’s have crossed over the 50 MA. However, I often enter when the price has crossed and made a 15-minute candle close past the 50 MA. I do that because I’ve found that price itself is a better indicator than any moving average. And because patience is not one of my virtues.

The initial stop loss shouldn’t be more than 10 or 12 pips, at most, below (or above, in a sell trade) that 50 MA line. It shouldn’t be more than 10-12 pips away from your entry point. One of the main strengths of this strategy is its low risk. The theory behind this strategy is that once that 50 MA line is crossed by all three – price, the 5 MA, and the 10 MA – the 50 MA line should hold as the support/resistance. It works best when the 5 and 10 Mas are both rising at a fairly steep angle. The 10 MA line should continue to rise (in a buy trade), and also act as initial support for the price.

Eventually, the price will come back through the 5 and 10 MA lines and test either the 35 or 50 MA line. The FIRST time this happens, the 50 MA will usually hold. That is, there probably won’t be a 15-minute candle close significantly (i.e. not more than 4-5 pips) to the other side of it. And often price will just touch the 50 MA line and immediately bounce off of it. The game is often over the second time that the 50 MA is challenged. It’ll give way, price and the shorter moving averages will all decisively cross back over it in the opposite direction.

This is a short-term trading strategy and it’s important to move your stop aggressively once you have a profit of about 10 pips. It is better to get stopped out with just a small profit than to let a profit turn into a loss. Many times, I’ve been stopped out with a small profit. I initially wished I was still in the trade and am tempted to jump right back in. But an hour later, I end up thinking, “Boy, I was sure lucky to get out with a profit on that.”

Below is a screenshot of a 15-minute chart showing movement both above and below the 50 EMA line. Note how once there’s a significant move above or below the 50, the 10 EMA tends to act as support/resistance.

And here’s another – note the pin bar that precedes across up and over the 50 EMA, that could then have been ridden for a very nice profit.

I urge you to set up your own charts with the three moving averages and watch the market action for yourself.

That’s my basic 15-minute trading strategy. Of course, it’s not quite that simple in actual trading and there’s a bit more to it than that, too much for me to cover in the space of one article. I’ll provide more rules and trade filters for using the strategy in upcoming articles, so stay tuned.

Believe it or not, if we can simply average catching one good trade a day with this strategy, we will make it to our goal of a million dollars in 18 months or less.

1 – Learning. You have to become an expert in your business, and that’s certainly true if your business is currency trading. You need to put in the time and effort to always be learning how to improve your trading.

2 – Patience. Starting a business with less than $100, and making a million dollars in less than two years sounds fast. And it is. But it can seem oh so slow in the beginning. When you’re only seeing $5 or $10 profits, it doesn’t feel like you’re getting anywhere. You want to be already up there making the “big coin”. But you simply have to steel yourself to be patient, to be content with gradually increasing your equity. Just averaging small daily profits will make that million dollars a reality. You might even try reminding yourself every day you make a small gain, “I’m doing it – I’m making a million dollars.”

3 – Diligent adherence to a good, solid trading strategy. It’s amazing how many traders discard a basically sound strategy just because it has a few losing trades. They forget all the times it worked wonderfully. No trading strategy is going to work every time – nothing’s perfect. But I’ve found that a number of times when I thought, “Oh, this strategy doesn’t work”, that I’d often lost money, not because of the strategy but because I’d departed from the strategy. For example, sometimes I’ve jumped the trade too early, getting in as soon as price moved across the 50 EMA line – I looked back later and saw that there was never a 15-minute candle CLOSE across the 50 EMA – I’d violated the rules of my own strategy. The trading strategy wasn’t at fault – I was.

MUCH MORE TO COME: I’ll be back next week with more information on my basic trading strategy (and on another one I’ll be using) and how you can follow the progress of the Million Dollar Forex Journey account, seeing each trade I make. As always, I welcome comments, suggestions, prayers, and gifts of chocolate and liquor.

“As you have freely received, freely give…” – (Matthew 10:8)
Jack Maverick
Jack Maverick is a writer and forex trader. Find him on Google+ at https://plus.google.com/u/0/103534926809963693894/?rel=author and check out his novel, the psychological thriller “A Cross of Hearts”, on Amazon at http://www.amazon.com/Cross-Hearts-J-B-Maverick-ebook/dp/B006GHJ0ZC/

Thank you for reading!

Please leave a comment below if you have any questions about Zero to a Million Trading Strategy!

Also, please give this strategy a 5 star if you enjoyed it!

(53 votes, average: 4.06 out of 5)
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