5M Channel Scalping - 100pips \ week

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  1. #1

    Default 5M Channel Scalping - 100pips \ week

    A strategy I have been trading for a month now... Works great.
    Its stupidly simple, but it works.. So I don't mind =]

    Basically - I trade only high-probability setups, usually with channels.
    I focus on tight stop loss, reasonable Risk:Reward ratio and pre-calculation of take profit. I don't use indicators nor trailing stop loss of any kind. I like 'Fire and forget' type of strategies - Enter and go back to sleep hahaha.

    I will write a thorough guide later, with instructions of the exact place to enter, how to determine Stop Loss and Take Profit.

    If we could come up with an EA for this system (I think it is possible, identifying channels can be done easily with regression channel indicator), it could benefit us all.

    Meanwhile.. Enjoy these examples:

  2. #2
    Junior Member
    Join Date
    Jan 2009


    Looks pretty clean and simple although I see your examples on the M15 and one with M5.

    Here's what I get from your examples, I'm sure there's more nuance.

    1. Open up an H1 chart draw fibo on a trend, then drop down or open up an M5
    2. Draw price channel on M5, connecting 3 lowest lows and 3 highest highs on a trend up or down
    3. Wait for price to break channel and pull back into the channel
    4. Take the second break of the channel, candle must complete outside the channel then enter with either a limit or instant order

    That seems to be the trade setup, now let me guess on settings:
    • TP = 100 level Fibo based target on the H1 or M15
    • SL = Distance between entry and the entry side of the channel on M5
    • Trailng Stop = ?

    I like the basics of this, wonder if I'm right.

    Last edited by verbtheory; 04-23-2009 at 20:31.
    -David T-
    Skype: verbtheory
    Trades and insights:
    Verbtheory's Day Break System v1.0
    "Only when the tide goes out do you discover who's been swimming naked." - Warren Buffett

  3. #3


    Verbtheory, not quite.

    1. Price needs to break from the channel.
    2. Price needs to retest it BUT NOT TO RE-ENTER THE CHANNEL. JUST TOUCH ITS SUPPORT OR RESISTANCE. Look at the examples, the price doesn't go back inside the channel, it simply touches the support it broke. (Price can go inside the channel a bit, but more than 10-20 pips is not allowed).

    After we see the price bounced off the level, we enter.
    There is a more complicated rule for long trade, I will get deeper on that later.

    How exit is calculated:
    First of all, calculate the channel size - Decide on a price point, and subtract the price of support from the price of resistance.

    These are the basic rules. More tips about this strategy and extended rules are available here.

    I will post daily trades here so you guys could learn and profit too! :-)

    Good trading everyone!

  4. #4


    Take a look at the great trade from Friday I posted live (on other forum though).
    Almost 2% on equity in less than one hour.
    Attached Images Attached Images 5M Channel Scalping - 100pips \ week-7-jpg 5M Channel Scalping - 100pips \ week-9-jpg 

  5. #5


    Trading plan for next week:
    3 Set-ups in the making, if a pullback will occur I will enter.

    For any questions - I am here to help.

  6. #6


    Quote Originally Posted by c0nundrum View Post
    Take a look at the great trade from Friday I posted live (on other forum though).
    Almost 2% on equity in less than one hour.

    Did you enter on the first pullback to resistence or the second? If it was the second, why did you wait?


  7. #7


    On the second. It was closer to the trend line.

    Anyone who had traded the set-up I posted yesterday would have made the easiest 4% on his equity! :-):-):-)
    Attached Images Attached Images 5M Channel Scalping - 100pips \ week-usdjpy-jpg 

  8. #8


    Another setup I traded yesterday, made +2% - overally +5% on equity in one day !

  9. #9


    A setup from today, that was 'legally' OK, but the Risk:Reward ratio was 1:1 and thus unsatisfying. I didn't enter. Another rule you should mind...

  10. #10


    EUR\USD Potential Trade:

    Wait for pullback to occur, take profit = 60 pips.

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