Want an easy way to start scalping pips every day on the market?
Then let me give you my tried and tested scalping system absolutely free!
MyScalp can give you several profitable trades on multiple forex pairs, every day and has an alert to warn you when a trade is setting up.
But here’s the deal.
For this system to work you will need super low spreads. Like zero pips to less than 1 pip.
These indicators work on ICMarkets because they have optimal tight spreads for scalping – Get a Demo Here.
ICMarkets is one of the worlds leading ECN brokers with super tight spreads. Based in Australia, they are fully regulated and the No 1 choice for scalpers and auto traders. Go read some reviews and see for yourself.
You can test the system out on a demo of their MT4 platform to make sure you understand how it works before risking your real money.
Once you are satisfied it can work, then create a live account.
What You Need To Get Started!
1. Install MT4 demo or MT4 live account from ICMarkets – Go here now.
2. The indicators, template and expert advisor found in the zip file below.
3. Time to wait for an alert, then trade.
Once you have installed MT4 from ICMarkets, download this zip file and follow the install instructions on the PDF inside.
Examples of Trades
You can pick your favorite pairs to trade. Try loading the template onto different charts and see which ones give you a good “feel” to start with. Just select 3 or 4 pairs and keep those charts open and ready for alerts to trade.
Example 1. AUDJPY today.
Example 2. GBPJPY today.
How Does The System Work?
When you’ve chosen pairs and charts loaded with the template applied, you should see some arrows.
These arrows will appear when the conditions are met for a trade.
In addition to the arrows you will also get a pop up alert. Alerts are also configured for push to mobile notifications.
When an arrow appears and you get a pop up alert, you can trade. Enter in the direction of the arrow.
Also on the template you will see an expert advisor in the top right corner. This adds a stop loss and a take profit automatically when you enter a trade. You can adjust the settings, or once the stop and take profit is added you can click on the dotted line and drag the level to where you want it to be.
I have it set at 7 pips stop loss, and 10 pips take profit. But once they are auto placed I click and drag the stop to just above the previous high or low where the arrow appeared, as long as the stop loss is not further than 10 or 12 pips from the entry price. You can also move your take profit if you want more from the trade, but the idea of this system is NOT TO GET GREEDY.
Take What You Can!!
Rack up the pips. Do not count money. Aim to walk away each day with a positive pip count. The money will follow as you increase your lot size.
Aim for 7 to 10 pips profit per trade at first. Don’t be greedy. Get some wins under your belt and move forward from this point.
There is an indicator on the bottom right corner of the chart which shows you how many pips profit or loss your trade is at.
You can close the trade at any time, you DO NOT HAVE TO WAIT for your take profit to be hit. Simply right click on the order in the window under the chart and select “close order”.
You can also click and drag your stop loss to break even when you have 5 or 7 points profit, then see where it goes. Test it on a demo for a while and begin to get a feel for it.
You can also experiment with trailing your stop down behind each candle in profit. When a candle closes and you are in profit, drag your stop loss to the top of each previous candle. Then close when you are happy.
NEVER LET A WINNER TURN INTO A LOSER!!
You are scalping. Scalping means getting in the trade and out as quick as possible. If the trade moves in your favor and you haven’t closed for profit, then reverses, get out. Try keep your losers to a minimum. Even taking 1 or 2 pips profit is better than a loss.
READ THE PDF IN THE ZIP FILE!!
I have included examples and ideas for moving stops, trailing stops, taking profits and how to install the system indicators. Make sure you read it, test and it and begin making pips.
PS. You can contact me via contact form if needed.
It goes without saying that trading and scalping is very risky. Systems and ideas on this website are for information purposes only. Please make sure you test any indicators and ideas you find on this website properly on a virtual demo account. We cannot be responsible for your trading. If you cannot make a profit using a demo account for at least 2 weeks, then you probably have no chance of making profit using real money. Please do not risk your money unless you have tested this 100% and you are certain you can make it work.