Scalping With Gann Hilo and CCI Trading System For MT4
The Scalping With Gann Hilo and CCI Trading System For MT4 depends on few technical tools. This system shows us that a simple system can be extremely reliable and used in the long run. The Gann Hilo (10), Gann Hilo Alert (10), CCI (21), and Fractal indicators are for the construction of this strategy. After loading the template, you should see the THV Gann aqua-colored signal showing you the direction of the trend. The fractal markings will be used to get confirmation about the trade setup. Below the main chart, we have the CCI indicator with custom -150 and + 150 levels. The CCI signal line is mostly used to measure the momentum of the market.
One of the key reasons behind the high success rate of the Scalping With Gann Hilo and CCI Trading System is the momentum analysis technique. Instead of using the CCI as an oscillator to find the reversal point, we will be analyzing the fresh momentum of the signal line to secure short profit. Though the system has a Gann Hilo Alert system we have to depend on the manual technique to make a consistent profit. And remember, your success greatly depends on your preferred trading instrument. So, if you trade the wrong instrument at the wrong time, never expect great results from this scalping system.
Selecting the trading instrument
Everyone expects that strategies like Scalping With Gann Hilo and CCI Trading System can be used to trade any instrument. It’s true you can deploy this strategy and make a profit in any market but you need the time your trade properly. For that, you need to trade currency pairs in the active trading sessions only. Since the strategy uses tight SL, it is better to avoid the news hours. And pick the trading instrument which has a tight spread so that you can quickly hit your profit target. Never open any trades in big spread trading instruments since it makes things a lot harder.
The nature of the Forex market is unpredictable. Instead of going through the big list of currency pairs, it is better to start with three major currency pairs. Absolute beginners should look for the trade signals in the EURUSD, USDCAD, GBPUSD, and AUDUSD pair only. And their preferred trading hours should be London and New York trading sessions. Once you feel comfortable, you can use the above strategic technique to select your desired trading instrument. But always open the trades based on the specific trading session as it will give you a better chance to earn more money.
Scalping With Gann Hilo and CCI Trading System For MT4 - Long trade setup
In order to improve your trade accuracy, you have to draw the support level using the manual tools in the MT4 platform. After finding the support level, you should be waiting for the bullish bounce in the price. Once the support level is tested, you should see the THV Gann signal line will start gaining positive momentum. This means the aqua-colored signal line will slowly move to the south. After the price push through the aqua color signal line, wait for a bullish fractal mark below the candlestick. The fractal market is the indication that the bulls have established their dominance. But to take trades, we have to get confirmation from the CCI indicator.
Before the price breaks above the THV Gann signal line, we should the CCI signal line going below the -150 line. From that zone, the signal line will slowly gain bullish momentum. As the signal line gains a steady bullish rally, you can expect the price will move to the nearest resistance. So, take the long trades during the bullish rally in the CCI signal. The SL for the trade will be placed below the aqua color THV Gann signal line. For the take profit, it should be placed to the nearest resistance level. But keep in mind the minimum risk to reward ratio for each trade should be greater than 1:2 while using the Scalping With Gann Hilo and CCI Trading System.
Scalping With Gann Hilo and CCI Trading System For MT4 - Short trade setup
In this segment, we will show how you can scalp even at major reversal. But for that, you must have some basic knowledge about the chart pattern trading technique. Look for the rejection of a critical and wait for the price to drop. As the price starts to drop, the signal line at the CCI indicator must be at the 150 zones. When the candlestick falls below the THV Gann signal line, the CCI signal line must fall below the 150 level. Set the pending sell order 2 pips below the THV Gann signal line. The stop loss will be 8 pips only. And you must be looking for the trade signals in the M30 or the H1 time frame. For the take profit, it should be set to 16 pips or to the nearest support level.
Taking trades by using the pending orders might seem a bit risky. But when following the steps mentioned in the Scalping With Gann Hilo and CCI Trading System, it won’t be difficult. But have faith in your trading system and do not close the trade after a few pips profit. Once the trade is executed, you should never look to close the trade manually. Let the market do its duty and you can expect to make a decent return at the end of the month.
Smart scalpers never become too much biased with the Scalping With Gann Hilo and CCI Trading System. Though the system has a pretty high win rate, you should not forget the unpredictable nature of the market. The only way you can protect your trading capital is by lowering down the risks in the trades. Since you do have the option to open multiple trades, you have to manage your risk factor considering your equity. Usually, trades that have multiple open trades at the same time, limit the risk of each trade by using the 1% rule. But experienced traders often trail the stops to the breakeven point instead of opening a new trade.
If you intend to maximize the profit with trailing stops, it is very important that you trade with the major trend. But you must close the trade within the same trading session. But we recommend the rookie scalpers stick to the simple method for trading. Test the advanced technique once you can earn consistent profit for at least six months by using the Scalping With Gann Hilo and CCI Trading System. And always remember, you can boost your performance by trading more. This will lead to overtrading which is one of the key ingredients to ruin your trading career.
Scalping With Gann Hilo and CCI Trading System For MT4 - Conclusion
Scalping is not all a critical trading system. Sadly, the novice traders jump into the market with the wrong tools and take an aggressive decision. But if you use Scalping With Gann Hilo and CCI Trading System, mistakes related to the placement of indicator is almost nil. You can load the default template and follow the mentioned steps in the article to find your desired trade signals. In the learning stage, you may not understand the advanced use of the CCI indicator but you can train yourself in the demo environment.
Every novice traders should start using the Scalping With Gann Hilo and CCI Trading System in the demo account first. When they start learning the details of a trading system in the demo account, they feel more confident with their actions. Since they have the room to make mistakes, they can easily explore the INS and OUT of this strategy. So, trade uses the Scalping With Gann Hilo and CCI Trading System in the demo trading till you feel confident with your actions.
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