EASY Scalping Strategy with NO Indicator! ONLY Price Action! [Nobody Knows This NEW Strategy]

Soheil PKO
10 Apr 202406:31

Summary

TLDRIn this video, a scalping strategy is taught based on price action without any indicators, focusing on the 1-minute timeframe. Traders are guided to identify support and resistance levels from a 5-minute chart to draw boxes around price movements. Entry points for long and short positions are determined when these boxes are broken, with a recommended risk-to-reward ratio of 1.5. The importance of strict risk management, including a 1% risk strategy, is emphasized for successful trading. Viewers are encouraged to apply these techniques while maintaining focus on price action to enhance their trading success.

Takeaways

  • 😀 This scalping strategy focuses on price action with no indicators, making it simple and direct.
  • 📉 Trades are entered on a 1-minute time frame based on support and resistance levels established on a 5-minute time frame.
  • 📦 A box is drawn from the highest high to the lowest low of five 1-minute candles to identify potential breakout points.
  • 🚀 Enter a long position when the price breaks above the box and a short position when it breaks below.
  • 🔒 Set the stop loss below the low of the breakout candle for long positions and above the high for short positions.
  • 🎯 The profit target should be set at a 1.5 risk-to-reward ratio to ensure a favorable outcome.
  • 🛑 During open positions, do not count new candles; only start counting again after closing a position.
  • 📊 Proper risk management is crucial; limit risk to 1% of your trading account per trade to protect against significant losses.
  • 🔄 It is advised not to switch between the 1-minute and 5-minute time frames to maintain focus and clarity in trading.
  • 📝 Engaging with the audience, the presenter encourages viewers to ask questions and subscribe for more trading insights.

Q & A

  • What is the primary focus of the scalping strategy discussed in the video?

    -The primary focus is on using price action without indicators, specifically trading on the 1-minute time frame while monitoring support and resistance levels on the 5-minute time frame.

  • How do you determine when to enter a trade in this strategy?

    -You enter a trade when a support or resistance level on the 5-minute time frame is broken, and a new candle opens on the 1-minute time frame.

  • What is the significance of the 1-minute and 5-minute time frames?

    -The 1-minute time frame provides detailed insights into price movements, while the 5-minute time frame helps identify key support and resistance levels.

  • What is meant by 'drawing a box' in the context of this trading strategy?

    -Drawing a box involves marking the highest high and lowest low of the last five 1-minute candles to visualize potential support and resistance areas.

  • What should you do if the previous box is not broken after five candles?

    -If the box is not broken, you should draw a new box based on the next five candles and continue to monitor for breakouts.

  • How do you set your stop loss when entering a trade?

    -For a long position, the stop loss is placed below the low of the breaking candle; for a short position, it is set above the high of the breaking candle.

  • What is the recommended risk-to-reward ratio for trades in this strategy?

    -The recommended risk-to-reward ratio is 1.5, meaning you aim to gain 1.5 times what you risk on each trade.

  • Why is risk management emphasized in this trading strategy?

    -Risk management is crucial to limit losses and protect your trading capital, ensuring long-term success in scalping.

  • What is the recommended risk management strategy for this scalping approach?

    -A 1% risk management strategy is recommended, where you size your positions to ensure that you only lose 1% of your trading account if the stop loss is triggered.

  • What should traders do after closing a position?

    -After closing a position, traders should start counting again from the next candle that corresponds to the 5-minute time frame and draw a new box if necessary.

Outlines

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Transcripts

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Ähnliche Tags
Scalping StrategyPrice ActionTrading TipsShort-term TradingRisk ManagementForex TradingTrading TechniquesTechnical AnalysisSupport Resistance1-Minute Time Frame
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