|From JTAWiki, a project by J Talon LLC|
SuperScalp was designed to look for the huge breakout and scalp trading off that breakout. This can be a rewarding way of trading as a number of FOREX traders like to manually watch for these situations and trade them.
SuperScalp uses a proprietary algorithm to sniff out the breakouts. Few variables are used and price averaging over time is the most accurate way of finding these breakouts. Only two settings control the “brain” of SuperScalp; the number of bars it uses in averaging the price and the “speed” at which the averaging takes place. This speed is our little secret but totally adjustable by you.
Once the breakout is found, buy or sell stops are placed opposite the direction of the breakout. Once the stop is hit and the trade is in action, a trailing stop manages the exit function. Seems simple, huh? Well, that’s the point! Every breakout has a pull back, every one. Market steam just does not sustain that sudden and huge shift usually caused by a market announcement or simply scared traders. This is what SuperScalp does. It lies in wait for these times then pounces!
Broker commissions and spread really drive this type of trading so you MUST have a low spread broker. And if commissions are involved, your small win could be wiped out with that commission if your trading stops are not set properly. Only use SuperScalp on low spread, low commission brokers. We have used SuperScalp on EURUSD on the 1 minute chart for most of our successes however, this does not prevent you from using it any way you desire. Keep in mind that most breakouts occur in real time…in the now and the charts that show these situations are generally 1 minute and 5 minute charts.
We know you will like SuperScalp. It’s stripped down to run lean and fast. It has a simple brain and a simply overlay display so you can watch the action. It has simple settings and for a scalping solution is most reasonably priced. You can really clean the clock of the market with a product like this!
- Simply Fast Trading
- Works on low spread, low commission brokers only (.2 - .9 pips)
- Buy Stops and Sell Stops once a breakout occurs
- Trail Stops for profit management
- Money Management control
- Manual size lot trading
- No bells and whistles!
- No grid trading to manage
- High Profits quickly
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