The system of short-term trading on the Forex market “Pet-D scalping system”
This trading system is designed for scalping – short-term trading for the purpose of quick profit making. The “Pet-D scalping system” works inside the day on a time frame of 15 minutes. The system can also be used to trade binary options. The system is applicable to index markets (S&P 500, Dax, Dow Jones, FTSE, Nasdaq), metals, oil and major currency pairs (Forex Majors). In the case of binary options trading, the expiration date of contracts is 3-4 candlesticks. Binary options brokers often give the opportunity to trade indices and metals. The recommended time for trading is the opening of the London session.
The system is based on the indicator “Pet-D”, which colors bars in different colors depending on the speed of price changes in one direction or another (moment). It differs from other candlestick coloring indicators by the fact that the tendency to price changes is determined earlier. The main chart also has the “Spud Fibo” indicator, which determines intraday levels based on the minimum and maximum prices for the previous day. Two more indicators are used to filter the main signal in the system. In the lowest window of the terminal there is a standard oscillator “RSI” with levels 45 and 55. Above is the less well-known but very good indicator “Double-CCI-Woodie”. It combines two Commodity Channel Index (CCI) indicators with periods 6 and 14, as well as red or green bars of the histogram clearly shows the direction of movement.
We open a position to buy after the green bar of the indicator “Pet-D” appears. The bars of the “Double-CCI-Woodie” histogram should be green and the “RSI” line should rise above the level of 55. The stoploss is set below the nearest Fibonacci level or the minimum of the day.
The sell position is opened after the red bar of the indicator “Pet-D” appears. The bars of the “Double-CCI-Woodie” histogram should be red and the “RSI” line should fall below the level of 45. The stoploss is set above the nearest Fibonacci level or the maximum of the day.
Exit a fixed Take Profit deal at 10-15 pips or Fibonacci levels. It should be noted that not all brokers allow short-term trades (Scalping). But there are also suitable brokers for scalping. Such a list can be found on our website.
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