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Bollinger Band Forex Scalping Strategy


Scalping Bollinger Bands can be quite profitable if done correctly. My approach towards trading BB is quite simple to apply and can be easily understood: go long when the bands slope up, go short when the bands slope down and stay out of the market when the bands are flat. You can use the BB forex scalper strategy on higher timeframe’s as well.

Preferred Currency Pairs: EUR/USD, GBP/USD and GBP/JPY
Preferred Trading Sessions: EURO and US
Timeframe: 5 Min
Indicators: Bollinger Bands (default settings)
A. Rules For Long Trades
1) Bollinger Bands must slope up.
2) Go long when the price touches the middle BB band from above.
3) Set stop loss at the lower band or max 15 pips (whatever comes first).
4) Take profit at the upper band.

B. Rules For Short Trades
1) Bollinger Bands must slope down.
2) Go short when the price touches the middle BB band from below.
3) Set stop loss at the upper band or max 15 pips (whatever comes first).
4) Take profit at the lower band.

Trade 1: Bands slope up >> long at 1.3981 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the upper band @ 1.3999 for 18 pips profit.
Trade 2: Bands slope down >> short at 1.3986 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band @ 1.3971 for 15 pips profit.
Trade 3: Bands slope down >> short at 1.3982 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band @ 1.3964 for 18 pips profit.
Trade 4: Bands slope down >> short at 1.3975 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band @ 1.3958 for 17 pips profit.
Trade 5: Bands slope down >> short at 1.3965 (middle band).
Stop loss at the lower band or max 15 pips.
Closed at the lower band @ 1.3950 for 15 pips profit.
Trade 6: Bands slope down >> short at 1.3941 (middle band).
Stop loss at the lower band or max 15 pips.
Stopped out the at upper band @ 1.3950 for 9 pips loss. 

+74 pips in 6 hours of scalping the EUR/USD 5 min chart

Pin Bar Forex Scalpers Strategy


Pin bars occurring at strong support and resistance levels generally produce reliable reversal trading signals for currency traders. Here's my step by step version of how i use them to trade market reversals. The pin bar forex scalpers strategy can be applied on higher timeframe's as well.

Forex Chart Setup:
 
• Preferred currency pairs: All 

• Trading Indicators: Support/Resistance (Indicator inputs: set precision to 1)
• Preferred Sessions: Euro and Us Session
• Timeframe: 5 Min

Pin bars Defined 

The picture below shows a bearish and a bullish pin bar. A bearish pin bar is composed of a long upper wick, small body and small lower wick. Sellers control the market price at the bar's close. In this case, we are looking to sell the currency pair in the vicinity of a significant resistance level with a stop loss set above the high price of the pin bar. 

A bullish pin bar is composed of a long lower wick, small body and small upper wick. Buyers now control the market price at the bar's close. In this case, we are looking to buy the currency pair in the vicinity of a significant support level with a stop loss set below the low price of the pin bar.

Pin bar Forex Scalper Euro/Dollar Example

SELL TRADE (see example above)
• Wait for the currency price to trade at or near important resistance levels.
• Open short trade if a bearish pin bar appears on the chart.
• Put a stop loss 1 pip beyond the high of the pin bar.
• Take profit target T1= 25 pips / Take profit target T2= 40 pips.
  TIP: You could close half of your trading position at T1 and keep the remaining half to target T2.

BUY TRADE
• Wait for the currency price to trade at or near important support levels.
• Open long trade if a bullish pin bar appears on the chart.
• Put a stop loss 1 pip beyond the low of the pin bar.
• Take profit target T1= 25 pips / Take profit target T2= 40 pips.
  TIP: You could close half of your trading position at T1 and keep the remaining half to target T2.

Low Risk To Reward 3 EMA's Forex Trading System


3 EMA's forex system is used to find low risk to reward entry points in a trending currency market.

Chart Setup 

Moving Averages: (EMA34 High, EMA34 Close, EMA34 Low)
 
Stochastic Oscillator (5,3,3)
Trend confirmation: bullish and bearish candlestick patterns 

3 EMA's Forex Trending System EUR/USD 5 Min Chart 


How it works
1. Determine the trend: Are the 3EMA's pointing up, down or flat? DOWN. (we enter no trades in a flat market)
2. As a result, we will only look for possible sell entries in the euro/dollar.
3. We wait for a rally back toward the 3 EMA's for the best possible entry (low risk).
4. Rally back towards the 3EMA's? Check the stoch oscillator (Is it overbought, value +80)? If yes,
5. Now check for a bearish candlestick pattern to pinpoint your short entry in the market.
6. The picture above shows where we entered short the EUR/USD (3EMA's down, Stoch overbought, bearish pattern).
7. Set stop loss above the bearish candlestick pattern and use risk to reward 1.5 or better

Major Currency Pairs Personalities


The seven most liquid pairs are traded against the US dollar with the first four pairs being the majors, followed by three commodity pairs. Other currency pairs are better known as the currency crosses, most popular crosses are those that include the euro, they are EUR/JPY, EUR/GBP and EUR/CHF.

The major currency pairs are:
 
EUR/USD
 
USD/JPY
USD/CHF
GBP/USD

The commodity currency pairs are:
 
AUD/USD
 
NZD/USD
USD/CAD

Trading volume by Currency pair
 

Major Currency Pairs Personalities

EUR/USD
 
The most recent Bank for International Settlements (BIS) survey shows that the most traded major currency pair is the EUR/USD with 28% of total daily volume. The EUR/USD is great for new currency traders since it slow movement compared to the other major pairs. The EUR/USD tends to be negatively correlated to the USD/CHF and positively to the GBP/USD. (see weekly charts) 


EUR/USD weekly chart
 

Characteristics
 
Average broker spread: 2-3 pips 

Daily range average : 90-100 pips
Best time to trade: Euro Session (0700 GMT - 1700 GMT)
Some factors affecting the EUR/USD rate:
  • The interest rate differential between the European Bank(ECB) and the Federal Reserve(FED)
  • Dollar strongness drives EUR/USD lower
  • FED intervention to weaken the dollar the sends EUR/USD higher

Trading the EUR/USD
Trading Experience: New and Advanced currency traders
Trading Style: Day trading and Swing trading

How to trade?
1) Applying Technical Analysis and/or Analyzing Fundamental News from the Euro and US zone to make EUR/USD trading decisions. Breaking strong psychological levels (1.3000, 1.2000,..) and/or surprising economic news releases can make the EUR/USD move a lot in one direction without much retracements.

2) Since the EUR/USD pair tends to be negatively correlated to the USD/CHF, it is always a good idea to compare both EUR/USD and USD/CHF charts in order to predict future moves, if USD/CHF breaks above an important resistance level and EUR/USD didn't break support level yet, the EUR/USD is very likely to break below support level. This also illustrates how USD/CHF tends to lead the move ahead of EUR/USD.

USD/JPY 
The most recent Bank for International Settlements (BIS) survey shows that the USD/JPY with 17% of total daily volume is the second most traded major currency pair. 


USD/JPY weekly chart
 

Characteristics
 
Average broker spread: 2-4 pips 

Daily range average : 80-90 pips
Best time to trade: Asian Session (2400 GMT - 0900 GMT)
Some factors affecting the USD/JPY rate:
  • The interest rate differential between the Bank of Japan(BoJ) and the Federal Reserve
  • Japanese government intervention to strongen their currency sends USD/JPY lower

Trading the USD/JPY
Trading Experience: New and Advanced currency traders
Trading Style: Day trading and Swing trading

How to trade?
Applying Technical Analysis and/or Analyzing Fundamental News from the Asian zone to make USD/JPY trading decisions. Breakouts are often true and sustained ones.

GBP/USD
The most recent Bank for International Settlements(BIS) survey shows that the GBP/USD with 14% of total daily volume is the third most traded major currency pair. The GBP/USD is one of the most volatile currency pairs generating many false breakouts and wild movements, therefore, it is not recommend to start trading this pair unless you are a very experienced currency trader.

GBP/USD weekly chart

Characteristics
Average broker spread: 4-5 pips
Daily range average : 150-200 pips
Best time to trade: Euro Session (0700 GMT - 1700 GMT)
Some factors affecting the GBP/USD rate:

  • The interest rate differential between the Bank of England(BoE) and the Federal Reserve
  • High yield and attractive growth in the UK drives GBP/USD higher

Trading the GBP/USD
Trading Experience: Expert currency traders
Trading Style: Day trading and Swing trading

How to trade?
Applying Technical Analysis and/or Analyzing Fundamental News from the UK and US zone to make GBP/USD trading decisions. Watch out for false break outs! Surprising economic news releases can make the GBP/USD move a lot in one direction without much retracements.

USD/CHF
The most recent Bank for International Settlements (BIS) survey shows that the USD/CHF with 4% of total daily volume is the least liquid traded major currency pair. The USD/CHF tends to be negatively correlated to the EUR/USD. 

USD/CHF weekly chart

Characteristics
Average broker spread: 4-5 pips
Daily range average : 120-135 pips
Best time to trade: Euro Session (0700 GMT - 1700 GMT)
Factors affecting the USD/CHF rate:

  • Global stability and global recovery will send USD/CHF higher
  • USD/CHF rallies on geopolitical instability

Trading the USD/CHF
Trading Experience: Moderate and Advanced currency traders
Trading Style: Day trading and Swing trading

How to trade?
1) Applying Technical Analysis Analyzing Fundamental News from the CHF and US zone to make USD/CHF trading decisions.

2) Since the USD/CHF pair tends to be negatively correlated to the EUR/USD, it is always a good idea to compare both EUR/USD and USD/CHF charts in order to predict future moves, if EUR/USD breaks above an important resistance level and USD/CHF didn't break support level yet, the USD/CHF is very likely to break below support level. This also illustrates how EUR/USD tends to lead the move ahead of USD/CHF.

Forex Trend Follower System


I wait for a new trend to emerge & then take a position. I trade on the daily charts and sometimes stay in for 2-3 weeks depending how long the trend runs.
I identify a new trend using a combination of Bollinger Bands & Starc Bands (Stoller True Average). Allowances for retracements are required to stay in the trade. I have definite entry & exit strategies. I have been trading on this system for the last 3 years.

trendfollower1
Firstly I am always in with at least 3 currency pairs at any one time. As I close positions, I may be opening new ones. Because of the long term nature of my trades pip spreads are not important to me so I look for new trend breaks amongst 17 odd currency pairs. I trade mini lots,so it is nothing to be in with multiple currency pairs. Also good for risk management as you dont have all your eggs in one basket. 

False signals about 30 -40%. Because I look at so many currency pairs I can afford to be fussy so my hit rate is fairly high. I will only enter with the trend when all criteria is in place.

The RSI & STOCHASTICS are just nice to haves. Normally my stop loss is around 150 pips but tighten it to take me out when ready to exit. I use smaller time frames (30 mins) with the trend to find the entry to the market. The SMA & WMA I only use AS ONE OF THE INDICATORS when I want to exit. I use the Bollinger/Starc breakaway to enter a trade. 

My exits are a little more complicated. I have about 3 different methods for exit. I normally take the first to appear or pull my stop up tight and let it run further if it wants to. The nice thing about trend trading, is that you don't need to be at the computer all day long. 3 looks a day is enough.
Here is one of my exit strategies. When you enter a trade draw a yellow vertical & horizontal line as per attachment. When the Bollinger line comes round and intersects the horizontal line, exit and take profit or wait until the SMA & WMA cross at the bottom. There is another scenario I will explain after this.

trendfollower2
Both my Bollinger intersect with the horizontal yellow line or the SMA/WMA cross will give you approx the same pip profit in this instance 700 odd pips.

However this is not a hard & fast rule. Here is my other exit strategy which might occur 1st. When the top Bollinger starts curving downwards the run is probably starting to slow down, but not always. Less profit available but profit is profit if you dont feel comfortable trading longer.

trendfollower3

Analisa Teknikal VS Analisa Fundamental


Banyak trader forex mengalami kesusahan atau kebingungan saat akan mengambil posisi apakah harus buy atau sell. Banyak signal forex yang bisa menjadi acuan sebagai second opinion yang bisa kita cari secara gratis maupun membayar di internet. Namun jika anda jeli dan ingin belajar forex secara sungguh-sungguh maka anda harus belajar analisa teknikal dan analisa fundamental.
Pada dasarnya trader membuat keputusan trading menggunakan dua Analisis yaitu Analisis Teknikal (Technical Analysis) dan Analisis Fundamental (Fundamental Analysis).
Analisis Teknikal (Technical Analysis) menggunakan chart, trend line, indikator seperti : Moving Average, Moving Average Convergence Divergence (MACD), Relative Strenght Index (RSI), Bolinger Band, Fibbonaci, Camarilla, Pivot point, pattern/pola candlestick dan Analisis matematis lainnya untuk mempelajari peluang pasar.
Sementara Analisis Fundamental (Fundamental Analysis) memprediksi pergerakan harga dengan menterjemahkan berbagai informasi keadaan ekonomi, termasuk berita, laporan dan kebijakan yang dikeluarkan oleh pemerintah, dan juga rumor.
Analisis Teknikal (Technical Analysis) dan Analisis Fundamental (Fundamental Analysis). Manakah yang lebih baik ?
Marilah kita kembali ke dasar dari forex trading. Apakah yang menyebabkan pergerakan harga ?
Jawabannya adalah : Harapan dan spekulasi dari pasar ! Berita bukanlah penyebab pergerakan harga. Di lain pihak, indikator / perhitungan matematis juga bukan merupakan penggerak harga.
Pada Analisis Teknikal (Technical Analysis), ketika trader berpedoman pada grafik, sebagai contoh garis trend line dan MACD telah menunjukkan bahwa harga telah menembus garis trend line dan garis-garis pada MACD telah perpotongan. Dan bila kemudian harga naik, hal ini tidak berarti bahwa pola indikator-indikator tersebut yang menyebabkan pergerakan harga! Tetapi dikarenakan banyak trader perpatokan pada garis- garis tersebut. Pada saat itu, mereka melakukan hal yang sama (membeli/LONG) sesuai teori dari indikator yang bersangkutan. Inilah yang menyebabkan harga benar-benar naik sesuai prediksi dari indikator forex.
Intinya, indikator hanyalah sebagai follower / pengikut dan bukan sebagai penyebab pergerakan harga.
Pada Analisis Fundamental (Fundamental Analysis), pergerakan harga yang drastis terjadi apabila ada peristiwa-peristiwa yang tidak terduga. Peristiwa tersebut bisa berupa kenaikan/penurunan suku bunga dari bank central, sampai peristiwa politik ataupun perang. Contohnya adalah peristiwa 9/11. Ketika peristiwa 9/11 terjadi, rate USD melemah dikarenakan setiap orang memperkirakan peristiwa tersebut akan berpengaruh besar terhadap US sehingga besar kemungkinan USD melemah. Kejadian ini menyebabkan banyak pelaku pasar menjual USD. Imbasnya rate USD benar-benar turun drastis.
Pertanyaan sesungguhnya adalah seberapa banyak uang yang diperdagangkan berdasarkan Analisis Teknikal (Technical Analysis) dan Analisis Fundamental (Fundamental Analysis) ?
Pada umumnya, bank-bank besar, hegde fund, dan institusi keuangan besar lainnya menggunakan dasar Analisis Fundamental (Fundamental Analysis). Dan karena mereka adalah pemegang sebagian besar uang di seluruh dunia, maka bila mereka melakukan trade, maka harga akan bergerak sesuai dengan apa yang mereka lakukan. Hal ini sesuai dengan hukum ekonomi, sebagai contoh bila ada banyak pembeli USD, maka jumlah USD yang beredar di pasaran akan berkurang, menyebabkan harga USD naik.
Bagaimana dengan trader-trader yang menggunakan Analisis Teknikal (Technical Analysis) ? Dapat dipastikan mereka tak memiliki jumlah uang sebanyak institusi-institusi keuangan di atas (walaupun digabungkan secara total). Ditambah lagi beragamnya indikator teknikal yang berjumlah ratusan dan timeframe yang berbeda-beda. Hal ini menyebabkan setiap indikator dan timeframe tsb menghasilkan prediksi yang amat bervariasi.
Tips-tips bagi trader yang menggunakan Analisis Teknikal (Technical Analysis) dan Analisis Fundamental (Fundamental Analysis)
Bagi anda yang menggunakan Analisis Teknikal (Technical Analysis), tips yang saya berikan adalah : Hanya gunakan indikator-indikator umum yang banyak digunakan oleh para trader dan hanya trade sewaktu tak ada berita ekonomi penting.
Bagi anda yang menggunakan Analisis Fundamental (Fundamental Analysis), tips yang saya berikan adalah : sabar, disiplin, hanya trade sewaktu ada berita ekonomi penting dan pastikan waktu / jam yang anda gunakan adalah benar-benar tepat.

Pengaruh Data Ekonomi dalam Forex Trading


data ekonomi forex
Ada perbedaan jelas antara pasar saham dan pasar forextrading. Salah satu perbedaan pasar saham adalah perdagangan yang sangat tergantung kepada perusahaan. Trader saham harus mengetahui dan memahami strategi perusahaan tertentu, profil perusahaan serta nasib perusahaan dalam bisnis sebelum mereka dapat memutuskan apakah akan membeli atau menjual saham perusahaan tersebut. Singkatnya, keuntungan dan kerugian transaksi saham tergantung pada bagaimana harga perusahaan tertentu sebagai badan usaha.
Di sisi lain, forex trading dapat dijalankan pada sebuah platform yang sama sekali berbeda. Pada dasarnya, pasar forex terutama tergantung pada kesehatan ekonomi dan profil antar negara. Itulah sebabnya forex trading tergantung pada faktor-faktor ekonomi secara umum yang mengatur negara tertentu.
Dan karena trading forex harus belajar memahami faktor-faktor ekonomi yang mempengaruhi suatu negara, Trader Forex harus belajar bagaimana untuk mendapatkan informasi yang mereka butuhkan pada berbagai faktor ekonomi dan menafsirkannya dengan cara merumuskan strategi yang baik untuk membeli dan menjual mata uang untuk mendapatkan keuntungan yang paling besar. Berikut adalah beberapa faktor ekonomi yang trader forex harus .
Setiap hari, data ekonomi selalu keluar dan harus dilihat apakah perubahan dapat membantu menentukan mana suatu Negara yang menuju ke ekonomi yang lebih baik. Data Inflasi mungkin juga berguna untuk trader forex harus melihat ke dalam bersama dengan suku bunga yang berlaku dan negara dan sejenisnya.
Kegiatan ekonomi adalah faktor lain yang dapat membantu menentukan tren nilai tukar mata uang. Kegiatan ekonomi ditunjukkan dengan cara belanja konsumen secara keseluruhan, pengeluaran pemerintah, serta rasio impor dan kegiatan ekspor di negara ini. Faktor utama dalam menentukan kegiatan ekonomi adalah belanja konsumen, terutama pada barang-barang seperti pakaian, makanan dan komoditas lain yang penting hidup serta transportasi.
Sebuah ekonomi terlihat seperti pergi ke arah yang positif jika pemerintah menghabiskan lebih banyak infrastruktur seperti fasilitas gedung berbagai negara, peningkatan kantor-kantor pemerintah dan pelayanan, peningkatan belanja militer, dll negara dengan pendapatan ekspor lebih tinggi daripada tuntutan sendiri impor dikatakan akan tumbuh secara ekonomis. Bagaimana suatu negara berperilaku ekonomis dapat memiliki dampak yang sangat besar pada forex trading.
Pengaruh dari data ekonomi forex bisa disebut dengan analisa fundamental forex

Jadi jika anda ingin trading forex maka data ekonomi menjadi hal yang wajib anda pelajari.

Selamat Trading forex.. Salam sukses..