Presents
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By Russ Horn
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Today, I want to show you a very simple but also very profitable scalping system for trading the lowest timeframe available on the MetaTrader4 platform – the M1 (1 minute) chart. Most traders nowadays think that M1 scalping is a very hard task to do, but at the end of this report you will discover that when you know how to trade properly, even M1 can be a very profitable timeframe, especially when you don’t have so much time to spe nd in front of your screen.
System Components & Indicators Timeframe: M1(1 minute)
Currency Pairs: EUR/USD, GBP/USD, AUD/USD, however, any other pair with low spreads can be used. Low spreads are essential because of the low timeframe we will use, otherwise, a big spread will just eat our profits.
Indicators: 1. 100 Exponential Moving Average (EMA) - set to the close price. 2. 50 EMA - set to the close price. 3. Stochastic Oscillator with default settings - %K period = 5, Slowing = 3, %D period = 3, Price field = Low/High, MA method = Simple and with levels at 20 and 80 (default).
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Chart Setup 1. 100 Exponential Moving Average (EMA) - set to the close price.
The image below shows how to apply the 100 EMA onto your chart:
1. 2. 3. 4.
Click on the M1 (1 minute) tab, so this timeframe will be shown. Click on the Navigator button to open the Navigator widow. Click on Indicators to expand the list of indicators. Find Moving Averages on the list and double click on it. The settings dialogue box will pop up, where to set the parameters of the 100 EMA. 5. Set the Period at 100. 6. Leave Shift at 0. 7. Click on the MA method drop down menu and select Exponential. 8. Leave the Apply to section at the default value, Close. 9. Click Style to choose the color for your 100 EMA. On this chart Crimson is used. 10. Leave the line type as it is by default. 11. This is for setting the 100 EMA line width. 12. Click on the OK button to apply the 100 EMA on your chart.
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www.RapidResultsMethod.com 2. 50 EMA - set to the close price.
On the next image below, you can see how to add the 50 EMA onto your chart. It is the same as for the 100 EMA, so just follow the same steps explained above.
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www.RapidResultsMethod.com 3. Stochastic Oscillator with default settings: %K period = 5, Slowing = 3, %D period = 3, Price field = Low/High, MA method = Simple and with levels at 20 and 80 (default).
1. Click on the Navigator button to open the Navigator widow. 2. Click on Indicators to expand the list of indicators. 3. Find Stochastic Oscillator on the list and double click on it to open the settings dialogue box. 4. Leave %K period at 5 as it is by default. 5. Leave Slowing at 3 as it is by default. 6. Leave %D period at 3 as it is by default. 7. Leave Price field at Low/High as it is by default. 8. Leave MA method at Simple as it is by default. 9. Click on the OK button for the Stochastic Oscillator to appear on your chart. Now you know the indicators used in the system and how to insert them on your chart, we can continue with the trading condition that must be met for placing a trade.
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Long Entry Rules 1. 2. 3. 4. 5.
The 50 EMA must be above the 100 EMA. We wait for the price to retrace back to the EMAs. The Stochastic Oscillator must cross above the 20 level from below. As soon as all the conditions above are met, we can open a buy order. The Stop Loss is set 2-3 pips below the last swing low point or the 100 EMA, whichever is closer. 6. The Take Profit target is set 7-12 pips away from our entry.
Let’s have a look at a long trade example on the next page.
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Long Trade Example In the image below, we have a long trade example on the EUR/USD. The vertical line “A” marks the long trade set up.
First, the 50 EMA is above the 100 EMA and this gave the signal to look for long entries only. The price retraced back to the 100 EMA and the Stochastic Oscillator crossed above the 20 level from below, which gave us the actual entry trigger. A long trade was opened at the close of the signal candle, where all the conditions above were met along the horizontal line “B” at 1.29333. Immediately after the long position was opened, a Stop Loss of 6 pips was set at 1.29273. T hat is exactly 2 pips below the last swing low point (horizontal line “C”). Then, a Take Profit Target of 12 pips above the entry was set at 1.29453 (horizontal line “D”). As you can see, the Profit Target was hit 4 minutes later. Now let’s take a look at Short trade conditions.
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Short Entry Rules 1. 2. 3. 4. 5.
The 50 EMA must be below the 100 EMA. Wait for the price to retrace back to the EMAs. The Stochastic Oscillator must cross below the 80 level from above it. As soon as all the conditions above are met, we can place a sell trade. The Stop Loss is set 2-3 pips below the last swing high point or the 100 EMA, whichever is closer. 6. The Take Profit is set 7-12 pips away from our entry.
Let’s take a look at a short trade example.
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Short Trade Example Here is a short trade on the AUD/USD. The vertical line “A” marks the short trade set up.
Firstly, the 50 EMA was below the 100 EMA and this tells us to look for short entries only. The price retraced back to the area between the 50 EMA and the 100 EMA and the actual short entry signal was given by the Stochastic Oscillator that crossed below the 80 level from above. Immediately, a short trade was placed at the close of the signal candle, where all the conditions above were met along the horizontal line “B” at 1.02397. Then, a Stop Loss of 5pips was set at 1.02445, and that ’s exactly 3 pips above the last swing high point (horizontal line “C”). Then, a Take Profit of 12 pips below the entry was set at 1.02277 (horizontal line “ D”). The profit target was hit 9 minutes later.
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www.RapidResultsMethod.com Today, you have learned a very good scalping system that can bring you profits if traded properly. The best thing about this system is that you can trade it even if you don’t have much free time , as it is traded on a 1 minute timeframe. Thank you very much for your time, best of luck to you in your trading and in your life as a whole.
Best Regards,
P.S. If you need help, you can send me an email at
[email protected]
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