The Advance Technique – 5Minute Scalping Strategy!

Alright Guys,you’re welcome to the concluding part of the The 5Minute Scalping Strategy.So we’ll be delving into The Advance technique – 5Minute Scalping Strategy.So let’s get started Guys!

In this section I am going to explain how you can ride you’re scalping trades for longer to gain more profit, please understand that the basic system works perfectly well without these advanced techniques.Using  the  average  daily  range  of  a  currency  pair  you  can  estimate how much further a trend may go in that day. 

For example let’s say we  have  entered  a  trade  on  the  EURUSD  and  we  are  in  profit,  the trend looks good and the London session has recently opened. The average daily range fore the EURUSD is around 70 pips so far in this session  the  daily  range  is  only  30  pips  this  means  that  we  have  a good chance that price could go a lot further. In these situations it can be very profitable to hold onto a winning position until the end of the day or until you have substantial profit. Quite often I may protect 4-5 pips profit and let the trade ride.
 
 To give your trades even more probability of success you can trade confluence of support and resistance with the zone, see picture below for example.

 [click image to view]
 

As  you  can  see  in  the  example  support  once  broken  often  become resistance, if you get this along with a zone setup in a trend you are golden!

The last advanced technique I want to share with  you  will fit in with the other core systems from The Blade Forex Strategies package.Basically you will be keeping an eye on strong trend lines and looking for a break, it is like an early warning sign that if you do get an entry after  the  break  of  the  trend  line  and  you  trade  goes  into  profit  you may  want  to  hold  on  for  a  longer  run  than  normal.  

See  example picture below of a 4 hour trend line that broke downwards if you saw this and a good setup that occurred on the 5 min to take a Short on the day of the break you know that you have a very good chance of making lots of pips provided you position does not get stopped out at break even.

  [click image to view]

Conclusion:

Although this system is very profitable I do not recommend you use it as your main source of income. Try to focus on a longer term system from this package and use this one only when you see a really good opportunity. If you miss some good trades so what? You are here to make consistent money not gamble on every tick of the market.

Keep  the 5  minute chart  up  on  your  screen  throughout the  day and watch  for the trends  on  average  you  will  get  2-3  good  days  a  week with  nice  trends  per  pair,  pairs  with  high  spread  are  not  as  easy  to profit from.

If you enjoyed this tutorial don’t forget to comment below and ask questions as well!