Serial Scalper V2.0
Accurate night scalping using overbought and oversold levels
These are enhanced systems based of proven ones that work. Rules are clearly defined and should be followed to be profitable. Entry, Stop Loss and Take profit levels are calculated, exit strategy implemented.
Serial scalper is a system designed to scalp small moves in ranging market conditions. In a daily basis, consolidation occurs during Asia session. The new version simplified the Trading rules of the original serial scalper system. The system will alert if the signal is valid or not. It will show if the setup is Trend or Counter Trend. It will also notify if there is upcoming news during the time of the signal.
Exit Strategy is very important and should be followed for the system to be profitable.
Close position as price reaches TP1 to ensure fast profit. This is the best option.
Move Stop Loss to breakeven when TP1 reached. Close trade when TP2 reached. TP2 target has a lower probability to be hit. Only use TP2 as target if StopLoss calculated is less than 15 Pips.
Move Stop to breakeven at TP1 if your target is TP2.
Invalid Buy & Invalid Sell are signals that didn’t follow the rules of the system. These signals are colored Gray for easy reference. The reasons why these signals are shown:
(3) Close Trade when TP1 reached
CLOSE When Price Reaches TP1. This is the best method to ensure instant profit.
(2) Stop (Move Stop To Breakeven if Price reached TP1)
(4) Move Stop To Breakeven on TP1
(5) Close Trade at TP2
Move Stop to Breakeven in TP1 then close trade in TP2. This gives more profit but TP2 has a lower probability to be achieved.
(2) TP1 Still not hit
(3) 12 bars after signal
(4) Close trade in Small Loss / Profit
CLOSE TRADE when TP1 not reached in the next 12 bars or 1 hour.
(4) Close Buy Position here since a Sell signal appeared
(5) TP2 NOT YET HIT
CLOSE TRADE on opposite signal (valid or invalid)
If you want to show valid signals on the whole trading period, set this value to FALSE. You can trade it outside Asia session but it’s your discretion. Some users use it on every session and some even in Binary Options.
Activate fast execution if True. This mode will give earlier signals. Only for advanced users who can read markets better. This mode is for very quick scalping and trades closed around 2-5 pips the most. Not recommended for beginners as it can give many signals that needs to be filtered.
If set to False, Invalid signals are not shown
If set to False; news won’t be used to report if the signal is Invalid. Filtering High impact news 30mins before and after is recommended to avoid whipsaws that hit Stop Loss easily.
2. Is serial scalper an Asian session scalper?
Yes, serial scalper works best only when the market is in consolidation. In an intra-day basis, consolidation is more likely to happen during asia session.So its best to trade the system during that time
3. Can i trade Serial scalper during London?
As long as you know that price action in London session is consolidating. Most of the time, breakouts and trend continue in london session. If you are an experienced trader who can read the markets, you can use serial scalper in london & US session provided that price action is consolidating.
4. Can it be used to maximize trading in all market sessions?
No, it only works best when market is consolidation. Every style is different, this system is made for traders who want to scalp the range bound price action in Asia session.
Can be used in london session as long as you know that the current price action in london is ranging, this can be hard because breakouts and trend continuation happens in london session, thus a different strategy during that time is better. Like trend following or breakout.
5.Why overbought and oversold method in Asia session?
Because when market is in consolidation time, most of the time traders will buy low and sell high. During Asia session where usually there isn’t enough contracts, its the perfect time to react in Overbought and oversold areas.
The reason why serial scalper is on Asia session, is because 70% of the time, market is consolidation during that period, so this eliminates the 70% doubt unless there is Major news release during that time. So if news is avoided, there is a high probability that asia session will be in consolidation. Also, this does not mean you take all signals, out of the many possible pairs, pick the one with higher probability and with tighter stop loss. Tighter stoploss means there is a better chance hitting Target 2. Since on asia session, price does not move much. Also, a good practice is closing trades with small loss/profit before london open. As price can breakout in any direction.
6. Can i use 10 pips TP always?
Yes, 10 pips is the usual first target because stops should be less than 30pips in most pairs to achieve a better RR at 10 pips initial target. But if you choose best signals, it usually reaches target 2 times the stoploss. (2:1 Risk Reward)
If a pair has 15 pip stop, initial target is around 10 pips and the max target on around 35 pips can be achieved. Compared when the stoploss is 30+ pips, the max target of 70 pips would be hard to reach.
Since this is best on ranging market, its rare for us to expect more than 30 pips move. So to have best RR with respect to the current session, the key is to pic the signal with least stop loss to achieve best RR asap.
7. How will i set-up?
Load it in all charts available and pick the best signal for highest probability. You don’t need to trade all signals. Best signals have least Stop Loss and are usually trend type signals.
What does tight stop indicate?
Range is determined by the stoploss. Smaller stops means smaller ranges, and there is a high probability that price action is in consolidation. Wider stops means price action can be in breakout or trend.
8. Compared to true breakout which is superior?
A: Both systems are different. This would depend on your trading style. Serial Scalper is used to take small pips usually about 10 pips per initial target. Closing a position once target 1 is hit, then moving to break even until it hits target 2. True breakout only trades breakouts of best probabilities. In terms of signal quantity, serial scalper will give more than true breakout.
9. Can i use this in binary options
A: We haven’t conducted test in options. Some users claim it to be effective any any session but we cant back it up.
10. Trading time explained
A: Pls refer to the manual during best trading time
Referring from GMT for November to March
Starts at GMT 23:00
Ends at GMT 7:00
Serial Scalper Best Trading Time
Starts at GMT 23:00
Ends at GMT 5:00
(we don’t need to trade the whole asia session because GMT 5 to GMT8 often gives false breakout as far as statistics goes)
Frankfurt open, which is at GMT 7 often has the most false breakouts
11. How Licensing Works?
1(One) License for 1(One) PC/Device but you can use in unlimited MT4 Trading Accounts/Platforms You can transfer your license from another device if desired. If you want to have 2 or more Devices working simultaneously, You can avail succeeding licenses 30% off the original price. Just email us for invoice. We offer lifetime support and updates to all our products
12.What is the win rate?
If used only in Asia session with all rules followed and picking the best signals, hit rate is around 80% or more.
13. Do you offer money back guarantee?
Yes, we offer 7-day money back guarantee.