I want an effective strategy to use for scalping. Since the Forex pairs are the most volatile and likely to give more quick trades, I’m going to be testing:
- Heikin Ashi candle sticks + 10/20 EMA on USD/JPY
- EMA 15/30 + stochastic indicator on GBP/USD (I may play about with the actual moving average numbers) – yes, using 5/15
- 5/8/13 EMA (+parabolic SAR perhaps) on EUR/USD
They’ll probably be on the 5 minute chart but I’ll also look at the 15 and 1 minute charts to see which is best. I’ll be keeping a tab in this post.
EMA 5/8/13
This method uses the three EMAs mentioned. On EUR/USD
– 2.3 point loss
– 8.8 point loss
–
Heikin Ashi + 10/20 EMA
Heikin Ashi candle sticks + 10/20 EMA on USD/JPY
– 6.30 point win
– 11.20 point win
–
EMA 5/15 + stochastic indicator on GBP/USD
The stochastic indicator is set to 5 5 5.
– 14.70 point win
– 1.70 point loss – (made a mistake)
– 3.70 point loss – (my mistake again!)
– 9.00 point loss – (third mistake!!)
– 5.80 point win
– 4.40 point win
–