August 9, 2022

Fast profit with xSignals terminal

Scalping profit is one of the most reliable profit options in a difficult Forex. Low liquidity, trends that can reverse or stop at any moment make day trading strategies less profitable. Let's see how to quickly get a percentage of the deposit using two technical oscillators and trade terminals from xSignals.

Opening broker account

Select a broker in the xSignals program, and register by E-mail/Password:

Select a demo account to test the simple profitable forex trading strategy. How to connect SimpleFX to the xSignals terminal, read on the blog.

Trading terminal

The terminal launch button is located under the name of the trading asset. A separate tab opens for each asset in the program.

For traders experienced with other terminals such as MetaTrader, xSignals should have no problem. When trading with the simple forex trading strategy, consider the following factors

Market and Limit orders are available. In our strategy, we scalp, so we only trade the Market opder.

The position is opened at the market price, taking into account the broker's spread. The final value may differ from the current chart price.

By default, after launching the terminal, the Take Profit and Stop Loss values are set from the program signal.

Then they can be adjusted to the conditions of your forex trading simple strategy. For a quick correction, we move the levels on the chart. If you need to set the level with precision to point, you can do this manually in the position parameters.

The terminal offers additional options for automatic Take and Stop. The calculation is based on the ATR volatility indicator.

The first value is Take Profit, the second is Stop Loss. Let's look at volatility. Take Profit should not be too “long” (the price does not reach the level by 5-10 points, a reversal begins), and Stop should not be “short” (a speculative quick rollback closes the trade with a loss).

Indicators and signal example

Strategy characteristics

Type: Trend scalping
Timeframe: M5.
Trading asset: Any currency pairs. The main requirement is a fixed (2-3 points) spread and no hidden fees.
Time forex trading strategies: All Forex trading sessions.
Recommended profit: 1-2% deposit at the beginning of the trading session

Install on the chart simple forex strategy:

Stochastic (StochRSI). Determines the market overbought/oversold. It is a combination of two standard oscillators: the Relative Strength Index (RSI) is determined first, and then Stochastic is calculated using it. This allows you to additionally remove the market "noise", to confirm the reversal more precisely.

MACD. Works on the Moving Average and confirms the signal from the Stochastic RSI. The indicator above the zero level, open BUY, below open SELL.

A good signal to open SELL position. On the chart, the beginning of a rollback or correction from the upper border of the lateral movement. Confirmation from oscillators: Stochastic RSI goes into overbought; MACD red histogram is below zero.

Watch two more scalping trading strategies signals in the video.

Summarize…