MT4 Forex Scalping Strategies.
Let’s start from the “scalping” strategies, which are very popular today.
I would call scalping strategies as strategies with an income of 2-3 pips. But my opinion doesn’t mean anything for you. You have to ask broker whether he allows forex scalping strategies or not, and which strategies refer to scalping strategies. Broker will give you a clear definition. If you will recognize a scalping strategy as your strategy, than you have to change it or look for another broker. The second thing is that you have to analyze the “spread” on the traded pair in current several days, since announcements on the brokers site might be misleading. For the “spread” analysis, I can share indicators with you.
They are important for the scalping strategies:
- authorization of a broker
- “spread” on the traded pair.
For example, let’s take a pair of successful MT4 forex robots, scalpers Stomper and IntellectualPro. In order to work stable, they need a “spread” on the eurgbp pair not more than 4 pips in the Asian session.
MT4 expert advisor "Stomper" real account monitoring (Click bar below to VIEW monitoring page)
MT4 expert advisor "Intellectual" monitoring page (Click bar below to VIEW monitoring page)
I found a few brokers, who accept scalping strategies, and 2 brokers who don’t. I wrote the letter for these two brokers, where I asked: “What do you mean under scalping? What is the minimum profit?”. I got a respond: “Your strategy has to take a profit in more than 5 points or orders time life has to be longer than 5 minutes. I connected with Developer Company of these scalpers and, in 1 hour, they adopted adviser under the broker. If a broker hides from a question, do not cooperate with this broker company.
What problems may appear in the future?
If a broker saw you are winning him, he would protect your trade and would make your trade conditions very uncomfortable. Than you will see errors in the MT4 journal:
Error # 129 - ERR_INVALID_PRICE - Invalid price.
Error # 136 ERR_OFF_QUOTES - Off quotes.
Error # 138 ERR_REQUOTE -Requote.
If you trade in big volumes, you have to talk to your broker and he might copy you to the bank or you can order a Bridge to the other big broker. If your trade doesn’t have big volumes, look for another broker and break your deposit into few parts and few brokers.
To be continued…
Oleg.
I would call scalping strategies as strategies with an income of 2-3 pips. But my opinion doesn’t mean anything for you. You have to ask broker whether he allows forex scalping strategies or not, and which strategies refer to scalping strategies. Broker will give you a clear definition. If you will recognize a scalping strategy as your strategy, than you have to change it or look for another broker. The second thing is that you have to analyze the “spread” on the traded pair in current several days, since announcements on the brokers site might be misleading. For the “spread” analysis, I can share indicators with you.
They are important for the scalping strategies:
- authorization of a broker
- “spread” on the traded pair.
For example, let’s take a pair of successful MT4 forex robots, scalpers Stomper and IntellectualPro. In order to work stable, they need a “spread” on the eurgbp pair not more than 4 pips in the Asian session.
MT4 expert advisor "Stomper" real account monitoring (Click bar below to VIEW monitoring page)
MT4 expert advisor "Intellectual" monitoring page (Click bar below to VIEW monitoring page)
I found a few brokers, who accept scalping strategies, and 2 brokers who don’t. I wrote the letter for these two brokers, where I asked: “What do you mean under scalping? What is the minimum profit?”. I got a respond: “Your strategy has to take a profit in more than 5 points or orders time life has to be longer than 5 minutes. I connected with Developer Company of these scalpers and, in 1 hour, they adopted adviser under the broker. If a broker hides from a question, do not cooperate with this broker company.
What problems may appear in the future?
If a broker saw you are winning him, he would protect your trade and would make your trade conditions very uncomfortable. Than you will see errors in the MT4 journal:
Error # 129 - ERR_INVALID_PRICE - Invalid price.
Error # 136 ERR_OFF_QUOTES - Off quotes.
Error # 138 ERR_REQUOTE -Requote.
If you trade in big volumes, you have to talk to your broker and he might copy you to the bank or you can order a Bridge to the other big broker. If your trade doesn’t have big volumes, look for another broker and break your deposit into few parts and few brokers.
To be continued…
Oleg.
Well, said. I hope you are trading well now and that you are not getting ripped off by the brokers out there? Would be nice to know where in Canada are you? Is it possible to phone you? Good website by trader, we need more people like you to speak out, great job.
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North York, ON
I would like to create facebook or yahoo discussion group and we can share opinion about strategies etc.
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Hi Oleg,
Thanks for your message at yahoo group.
what is the name of the Bridge that i can copy from mt4 to non mt4 platform.
I searched the site you recomand, but i do not know which one the one.
Thanks.
Young Chang
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You can order CopyTool Software from BJF Trading Group and bridge for your broker for additional fee.
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yeah I'd have to agree... the brokers are nothing more than cheaters and scammers anything they can do to get at your money they will do it.
You have to choose a broker that is registered with the NFA. Avoid swiss brokers at all costs, as their regulations are very lacking.
The FX market is a hard business... you can have success... but you always have to keep updating and think up new advantages to stay ahead of the brokers stupid tricks.
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Hi Oleg
I am enjoying your articles.What brokers do you use?I am demoing both intellecual pro and Stomper.Intelpro is producing the better results. I have a couple of others that also work well,but that is out of about 300 I have tried.
How are you trading?With an Ea?
Maybe you can post a site we could log in to.Keeps things interesting
Regards
Johno
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>What brokers do you use?
Gain capital, dukascopy, etc.
>>How are you trading?With an Ea?
I will post info about this with my comments soon
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Hello! I want to thank first Olag for this wonderfull website and for sharing all his experience with us. Where can we find information about tips of your strategies? Thanks!
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they operates like a casinos.such unethical brokers.i seldom get that types of error.
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Hi Oleg,
How i can buy or try the Stomper EA?
I loged in Shop area but i can not find the Stomper EA for sale.
Thanks.
Young
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Hi All... i'm a beginner, i need information about a good brokers..
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I am so thankful that I found all these interesting info. Thanks for sharing. I would be happy to meet with you if you don't mind. I am also not happy with my broker.Is there a trial period for your EA? Please let me know. I've been using an EA but not successful. Is there any guarantee with yours? Looking forward to hearing from you.
VJ
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