http://www.zwinner.com/SCALPING/index.htm Here is a Forex Scalping System which is entirely Unique to all other systems. A System that is Highly Profitable and extremely easy to implement. I have studied many Scalping Systems, I should say almost every system that is available on the net, I have purchased them and studied them, but none of them can come close to "The Best Forex Scalping System" All Forex Scalping Systems out there have something in common. They are dependant on Indicators or chart patterns or candle shapes. I do not believe in indicators as all indicators are lagging. They tell you the story when it is all over. They do not tell you what is going to happen the next moment. By the time you get a Signal, its all over, its too late to enter the Market. For example when you see the moving average cross-overs, you have already missed out so many pips that you could have gained. You would enter the Market late and who knows the Market may start retracing back. These Indicators and Chart Patterns rely on Past Historical Facts. They assume it so happened last time so it will happen again this time. Its not guaranteed that it will happen again. If it was so, there would be no Trading as someone has to lose in order for the other to win. Not everyone could be the winner. If every Trader was a winner then who would be the loser? Someone has to lose in order to make the other one winner. So there would have been no Market at all whatsoever. It is an estabished fact that 95% of the Traders lose to the 5% Traders who make money including the Big Boys. Forex Trading is so Addictive that despite losing their Trading Equity they give more and more money to the Broker in the hope of recouping their losses and
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making profits and they still lose. Some Traders lose all their Life Savings, the money that they saved for their old age, they lose it all and end up on State Benefits. I would like to warn all those who are new to the Forex Trading that do not be lured to the stories that Forex Trading can make you a very wealthy person. Very few people are successful. Most of them are losers. So if you want to try your hands on Forex trading, allocate a sum of money that you are prepared to lose. None of the Systems Developer and System Sellers would tell you this. Read the descriptions on their websites. All of them will tell you that their System is the best there is and you will make a lot of money. Try them first and then buy what I am offering you. I am offering you a System that trades each and every Candle, My System depends on Price Action. I do not use any Indicator except one for the confirmation of the direction of our Entry. Not all the trades are Winners but about 90% of them are. What matters is how much I make at the end of the day and I can assure you that my System makes a lot of Profit almost every day. "The Best Forex Scalping System" will suit those you want to trade Full Time and also those who want to try their luck at any time of the day. It would also suit Office Workers who would like to trade before leaving for their office or after returning back from their office. The System Trades 24 hours round the clock. The more time you devote the more you make, as simple as that. Just like a Money Making Machine. We are going to Trade EUR/USD as their Spread is the least. With CMSFX and other Brokers its 3 pips whereas some Brokers like Oanda and ODL offer 2 pips spread. First try to find out which Broker would offer you the least Spreads. You can go to www.britrade.co.uk and click on Forex brokers. You will find a list of brokers, click on each of then and it will take you to their website. Study their website and find out which one would suit you. Now open the EUR/USD Chart on the VT Trader Platform and it would look like this chart given below: You will notice that there are 11 Boxes on this Chart. Each Box is a Day.
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And Here Are The Trades For The Month of May 2008
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To Make The System More Profitable, Exit in The Following Manner: We place our Sell order 1 pip below the Low of the 3:00 Red Candle at 1.5521 The Next Candle the 4:00 candle opens below the close of the Red Candle, goes down and on its way down our order gets filled in at 1.5521 The Candle then retraces and starts going up again, even beyond the close of the Red Candle, comes down and closes as a Doji. Because it closes below the close of the Red Candle, we assume that the next candle will open below the close of the Doji and so it does, goes up a bit and then all the way down. Once it closes we would exit if the next candle opens 1 pips above the close of this candle, but the next candle the 6:00 candle opens below the previous red candle, so we stay in the Market. Then the 7:00 Candle also opens below the close of the 6:00 candle, goes down and then reverses back and closes as a Blue candle. We Exit at the close of the Blue Candle with a Profit of 56 pips. ENTRY RULES: Wait for the Candle to close. Observer the colour of the Candle, the High and Low of the Candle and the MACD Histogram Bar. 1) If the Candle closes as a Red candle and the MACD Histogram Bar is also confirming to go short then we shall place a sell order one pip below the low of this Candle. If the MACD Bar is not confirmatory,we do not trade. 2) If the Candle closes as a Blue Candle and the MACD Histogram Bar is also confirming to go Long then we place a Buy order one pip above the high of this candle. If the MACD Bar is not confirmatory,we do not trade.
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EXIT RULES: IF YOU ARE SHORT Once your order gets filled in, wait for the candle to close and observe where the next candle opens. If the Next Candle opens one pip above the close of this candle, Exit immediately. If the next candle opens below the close of this candle then stay in the market as its likely that the Market will continue going down and if after opening one pip below this candle, the market goes up again, then exit as soon as it goes one pip above the close of this candle. Sometimes after filling in your Sell order, the Market may go up against you. In that case Exit at the close of this candle with a loss. IF YOU ARE LONG Once your order gets filled in, wait for the candle to close and observe where the next candle opens. If the Next Candle opens one pip below the close of this candle, Exit immediately. If the next candle opens above the close of this candle then stay in the market as its likely that the Market will continue going up and if after opening one pip above this candle, the market goes down again, then exit as soon as it goes one pip below the close of this candle. Sometimes after filling in your Sell order, the Market may go up against you. In that case Exit at the close of this candle with a loss. •
We do not incorporate stop losses as at the most you will come out with a small loss however if you would like to use a stop loss you may set it to 50 pips away from entry. At the point of entry you may add your broker spread which should be 2 or 3 pips at the most.
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Do not place an order if the previous closing candle has a long spike or a larger than average range.
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Do not to place an order just before the news unless you possess the "News FX Strategy" and you are trading in conjuction with the News.
I am trying to improve the system. Form time to time you will see some more improvements in the system. So please visit this page regularly to see what changes and improvements have been made. All The Best Dr. Zain Agha (May 2008) 38
HOW TO MAKE THE SYSTEM MORE PROFITABLE If you use your own discretion and aim for only 10 pips profit on each candle that you are trading, you could achieve 50 to 100 pips daily. Instead of waiting for the candle to retrace and close, just take 10 pips profit. This way you would be able to extract a minimum of 50 pips daily. This amounts to more than 1000 pips a month. BEST TIME TO TRADE Although the Market is open 24 hours a Day the best time to Trade is from 4:00 Eastern Time to 17:00 Eastern Time. This is when the London Market opens and the New York Market Closes. This will save you from most of the False Signals and you will get more Profitable Trades. Recently it was found that its best to trade from the 4:00 Candle till the 11:00 candle. These are the candles where you will get good moves. This will reduce your trading time to 7 hours only.
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