Monday, April 15, 2013

Safe Scalping with EURCHF – A trading strategy

In September 2011 when SNB introduced 1.2 floor, the pair EURCHF has been trading in relatively tight range reaching the highest value at 1.264. Since September 2012, I have been using a simple scalping strategy for that pair and it helped me to earn 20% per month on average.

The strategy is based on assumption that 1.2 floor will remain. Well, in past year and a half SNB has been very successful in defending that floor and it states that will continue to defend it with utmost determination. It is realistic to believe that in the long term the pair will not only remain above the floor, but also will return to the values that are much higher than the current one, as Europe and USA are slowly coming out of the recession.

Prerequisite for the scalping strategy is that your broker has small spread on EURCHF pair (not higher that 2.5 pips) and positive swap on long entry. If your broker does not meet these demands, try the strategy with a different one. If you have a problems with finding such broker I warmly recommend Exness, I have been trading with them for past six months and I am very satisfied. Another prerequisite is that the price of the pair is lower than 1.24.

The strategy itself is very simple, enter the long trade following the rules for any other scalping strategy. I was very successful using 5min blue trentd rider and THV3. Just in case, when I enter the trade, I always put stop loss at 1.1980 level. Next, wait till exit rule for your scalping strategy is met (by scalping strategy i meant here 5min blue trend rider or THV3) , and if your trade is in gain exit the trade. If your trade is not in gain leave it and wait till it will become profitable. Swap is working in your way now! In meantime you can enter another trade on new long entry signal. In a period while I was using the strategy I never had more than four trades opened.

Money management I was using is 0.1 lots for every $400 on my account balance and I am careful that I have enough money for 4 trades. So, if I have $1600 on my account, it will be enough for four 0.1 long trades.  


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