10 Pips Forex Trading Strategy

Considering that scalpers need to generate small returns for every time they initiate a position in the market, precision is key to designing a scalping strategy.

The 10 Pips forex trading strategy allows you gain 5-10 pips per position entered and this process can be repeated in a bid to accumulate profits over a period.

Chart Setup

MetaTrader4 Indicators: Keltner_Chanel.ex4 (default setting), Harami.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute

Recommended Trading Sessions: London and US

Currency Pairs: Any pair with 4 pips maximum trading spread

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy order if the following indicator or chart pattern gets displayed:

  1. If the aqua upward pointing arrow of the Harami.ex4 custom indicator is seen below the candlesticks as depicted on Fig. 1.0, price is said to be pushed higher, hence a trigger to enter a buy.
  2. If price closes above the middle line of the Keltner_Chanel.ex4 custom indicator, and further opens above the line as shown on Fig. 1.0, the market sentiment is said to be bullish, hence a signal to buy the currency of interest.

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit on position(s) if the following rules or conditions take center stage:

  1. Watch out for the Harami.ex4 custom indicator to form a red downward pointing arrow positioned above the candlesticks (refer to Fig. 1.0), once this setup is live on the activity chart, it is a pointer to weaning bulls power in the market, hence an exit or take profit is advised.
  2. If price dips to close below the middle line of the Keltner_Chanel.ex4 custom indicator, it points to halting buy pressures, hence an exit or take profit is recommended.

Sell Entry Rules

Initiate a sell entry if the following holds true:

  1. If the red downward pointing arrow of the Harami.ex4 custom indicator is seen above the candlesticks as illustrated on Fig. 1.1, price is said to be pushed lower, hence a trigger to enter a sell.
  2. If price closes below the middle line of the Keltner_Chanel.ex4 custom indicator, and further opens below the line as shown on Fig. 1.1, the market sentiment is said to be bearish, hence a signal to sell the currency of interest.

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit on orders if the following holds sway:

  1. Watch out for the Harami.ex4 custom indicator to form an aqua upward pointing arrow positioned below the candlesticks, once this setup is active on the chart, it is a pointer to halting bears power in the market, hence an exit or take profit is advised.
  2. If price surges to close above the middle line of the Keltner_Chanel.ex4 custom indicator, it points to halting sell pressures, hence an exit or take profit is recommended.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

The Harami.ex4 indicator spots bearish/bullish harami trading patterns via the use of a red and an aqua colored arrow.

This information is combined with the power of the Keltner_Chanel.ex4.

A custom indicator that is essentially a two Average True Range values below and above the 20-day exponential moving average.

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Combines Price Action And Market Volatility To Help You Identify Profitable Entries And Exits Quickly and Accurately.



  • Up To 100 Pips Per Trade With Low Risk
  • Includes Entry, Stop-Loss And Take Profit Rules
  • Learn And Trade This Strategy In only 10 Minutes