The Best Scalping Strategy for FOREX | 5 minute timeframe
In this video I run over the best scalping strategy on a 5 minute time frame.
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Hi,
My name is Todd Lewendon and I mostly trade FOREX and indices.
This is the 1st part of a 5 episodes trading series based on strategies that I implement, so you can test them and decide which one is best for you.
This FOREX scalping strategy purely based on the time of the day analysis and looking at the price of the asset you are following. So you need to set everything to NY time, make sure all your time reference are in NY based time otherwise the analysis will not yield anything valuable.
I usually approach this by looking at highs and lows, or inefficiencies in the market, to buy or sell them depending on what has happened in the previous days. Usually you can buy or short with a 10 pip stop