Forex Scalping Strategy - Megascalping on the Principle of Grebenshikov This strategy uses the Grebenshikov principle, as detailed in 'Forex and We'. In size terms this strategy is more like megascalping. Although different currency pairs can be used, megascalping using the principle of Grebenshikov works using the EUR/USD as the primary pairing. To use this forex scalping strategy you should look to use a reliable broker that offers the Metatrader 4 trading platform. Description of the Forex Trading Strategy You can enter the market using the Bollinger indicators that can be found on all trading platforms, including the Metatrader 4. Should the Bollinger indicator show parallel lines, Buy stop and Sell stop orders should be placed 20 pips above and below the borders of the horizontal channel accordingly. You can use any timeframe. Use the higher timeframes to perform some technical analysis prior to placing any pending orders. For instance, look at D1 before placing any orders on H1. The Buy stop can be placed should the price be next to the upper border channel using the day timeframe and the opposite is true for placing Sell stops. You can place a stop-loss at 20 points beneath the channel border opposite. Transaction Support According to the Trading Strategy When a pending order has been initiated there are two possible scenarios. A) Should a profit not hit 25 points and so closes on a stop-loss or the transaction is not profitable. At the point of trend reversal, the principle used to set in place a sell stop is the same as the one previously used to set up a buy stop. I.e. closing a long transaction on stop-loss immediately followed up by opening a short position. This will also have these same two scenarios. B) The opened transaction brings an immediate profit. Once the 25 point barrier has passed, the transaction moves to break-even. Should price continue to go in the right direction, trailing stop is used. When opening up further positions, pending orders are placed 20 points above the maximums using the 4-hour chart. You can place orders after the summary stop for all of the positions that are in a positive area or break even position. This is a safety measure as the Forex exchange market is volatile. Another variant would be the movement of an open transaction at break-even when the 25 point mark is achieved. When the stop loss of trailing stop is hit, this is when you take your profit. And last of all, because of the volatility of the market, you must ensure that you have a well-designed and comprehensive trading strategy when trading forex. This forex scalping bot uses the Grebenshikov principle, as detailed in 'Forex and We'. This strategy is actually closer to Megascalping in size. The Grebenshikov principle is used for megascalping mainly using the EUR/USD currency pair but you can choose other pairings. To use it you should look to use a reliable broker that offers the Metatrader 4 trading platform. Description of the Forex Trading Strategy You can enter the market using the Bollinger indicators that can be found on all trading platforms, including the Metatrader 4. Buy stop and sell stop orders can be placed at 20

pips above and below the horizontal channel borders when the Bollinger indicator shows parallel lines. This can have any timeframe. Before placing pending orders it is sensible to perform technical analysis using higher timeframes. For instance, look at D1 before placing any orders on H1. On the day timeframe, the Buy stop can be placed if the price is right next to the upper border channel (and the opposite for the Sell stop). You can place a stop-loss at 20 points beneath the channel border opposite. Transaction Support According to the Trading Strategy There are two scenarios once the pending order has been activated: A) The transaction has no profit or it has a profit that closes on a stop-loss because it has not reached 25 points. Here, once there is trend reversal, the sell stop order has been placed using the same principle as buy order previously. I.e. closing a long transaction on stop-loss immediately followed up by opening a short position. This will also have these same two scenarios. B) The opened transaction brings an immediate profit. The transaction moves into a break-even at the point a 25 point level has been breached. A trailing stop is then used if the price moves on in the right direction. Place pending orders 20 points over the maximum using the 4 hour chart when looking to open up further positions. Following the summary stop for all positions inn area that is 'positive' or in a break even position orders can be placed. This is for safety reasons due to the volatility of the forex market. Another variant would be the movement of an open transaction at break-even when the 25 point mark is achieved. When the stop loss of trailing stop is hit, this is when you take your profit. And finally, it is vital to have a clear and thorough strategy for trading when trading forex due to the complexity of the market.