Time based:Try and figure out how long will it take the market to get in your expected direction, if the time that you planned is already due, then close the order. No point on waiting for a loss..

Stop Loss: Since you are trading a very tight time frame your stops should also very very tight. Sometimes, you will profit from a 3 minute trade and you wont be able to set a proper S/L. So your stops will be given to you by your money management system.

Pairs:GBP/JPY

Time frame: 1M., 5M.

Spread max:0,0002 (ECN Account);

Price: Bar Chart.

Indicators:

1) Bollinger Band (50) deviation 2 color red;

2) Bollinger Band (50) deviation 3 color orange;

3)Bollinger Band (50) deviation 4 color yellow.

Short Entry position:When price crosses the upper red b at least half way to the orange b (if it gets to the yellow b is better but not as usual) Then the price will tend to retrace towards the center of the bollinger bs you profit form this retracing.

Long Entry position:it is the same as selling, the difference is that we will wait for the price to range between the lower red and yellow bands, and trade the retracing towards the center.

Profit Exit: Go for 5 to 10 pips, or exit at middle band.

Stop Loss:To have two kinds of stops: time based and loss based.

In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.

For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.

How to install Forex Bolinger Bands GBPJPY Scalping Strategy?

• Download Forex Bolinger Bands GBPJPY Scalping Strategy.zip
• Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
• Copy tpl file (Template) to your Metatrader Directory / templates /
• Start or restart your Metatrader Client
• Select Chart and Timeframe where you want to test your forex strategy
• Load indicator on your chart

How to uninstall Forex Bolinger Bands GBPJPY Scalping Strategy?

To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.

Download Free Forex Bolinger Bands GBPJPY Scalping Strategy