Basic Scalping Video can be found on You-tube these days. Strategy was
off the 1min chart bouncing off RSI 70 and RSI 30. RSI stands for
Relative Strength Index. This basic strategy was to catch 5-10-15 pips on
the 1 min chart time frame.
Bouncing off RSI 70 which is overbought, and RSI 30 meaning oversold
can be the easy target points to look for in this indicator.
This basic scalping strategy was good back then but not enough to keep
going to make more money unless you use bigger lot sizes like standard
lots. Back then I didn’t know anything about swinging long term or going
off 4hr and daily chart because I had no patience in waiting for profit
taking on small positions.
Scalping with RSI, MACD and Moving Average was the only 3
Indicators I was using back in January 2017 to June 2017.
MACD on One Minute Chart is very reliable too. It more trusted
indicator on Scalping when RSI was mid ranging from 40-50
When the MACD curves up buy it, and let it ride to the top 70 or above
70 and short it again when it curves down and then buy it again till curves
up again. This worked out pretty good on 5 min and 15min charts time
frames as well.
Following candles is pretty important too. Make sure candles are going
up and down a certain price range so you can scalp and catch your 5-10
pips within the price range.
Please make sure your primary indicator you follow is set so you don’t
get confused on following too many things at once. Ensure you see two
candles create support or resistance and second see if its overbought on
the time frame 1min chart. Move to 5min in case you see a trend.