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Forex Trading Guide 2021: Megascalping according to the Grebenshchikov system

Description of the trading strategy “Megascalping according to the Grebenshchikov system”

1 – The currency pair used is EUR / USD. Other currency pairs can be used as well. 

2 – Signals for entering the market are obtained using the indicator – Bollinger bands on a 30-minute timeframe (you can also use hourly and higher timeframes). With this strategy, we place pending orders at a distance of 20 points (taking into account the spread) above or below the horizontal channel of the Bollinger Bands indicator (the upper and lower lines of the indicator run almost parallel to each other, horizontally).

3 – Analyzing the higher timeframe – daily (D1). If we see that the price is near the channel border, we place one pending order.

4 – Stop loss is set at 20 points from the opposite side of the Bollinger Channel.

5 – If the price hooks one of the orders, then two options for further events are possible:

• The price goes against you – a stop loss order has been triggered, but at the same time you have an opposite order, which will be triggered when the trend reverses, and there are also two options for the development of events.

• When the order is triggered and the price has moved in your direction by at least 25 points, it is better to move the position to breakeven.

6. We open additional orders 20 points further from the price extremes on the 4-hour timeframe, while your open positions should already be at breakeven.

7. Exit from a position is made either by stop loss or by take profit, which should be at least 2-3 times greater than possible losses.

CT Forecast (Staff Writer)
CT Forecast (Staff Writer)https://citytelegraph.com/
I trade on Stocks (US) and Crypto. In my spare time I also share thoughts on price action & fundamentals, technical analysis with Citytelegraph Team. These thoughts are not any kind of financial advise, so please do you won research before investing.

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