Simple Scalping Trading System

Forex trading is the tricky market, you need to trained your self to get better result in this market. Many Foreign exchange traders lost their money in Forex trading market because they can not manage them self in trading system and in money management also. This two parts must walk together, you can not choose one an left the other.

OK, let's start. In this post I wold like to share a Forex trading system which has so many responds in Forex trading forum. I think this system is very simple and can give you better results also. Personally I like this system because this system doesn't use so many Forex technical indicators in its system.

They called this trading system 5 minutes time frame Support and resistance trading system. It's very long name for a Forex trading system. This strategy uses 5 minutes time frame chart, 123 trading patterns, and support resistance as the basic method.

You can use any trading pairs for this trading system, and you do not have to use any Forex technical indicator on your metatrader trading software.

Actually 123 trading pattern uses support and resistance basic, this trading pattern already widely used among Forex trader around the world. And if you want to learn this pattern more deeper you can search it with google search, you will find so many information and ebook about 123 trading system.

As you already knew that if the resistance level has broken then the market price try to come back and touch this level again. In this situation the level is no longer resistance any more, but support level. Lets take a look at the image below.

Your entry level is at the point 2, you can put entry order 1 or 2 pips above the point 2. Set your target 15 pips and stop loss 15 pips. In this trading sample I use EURUSD. You can adjust the target and stop loss based on which currency you trade, if your currency has bigger fluctuation you can add more pips on your target and stop loss order. But I suggest you to keep use risk and reward ratio at least 1:1, or 1:2 it would be better.

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