Zee Zee Scalper Trading system For MT4
Table Of Contents:
- Zee Zee Scalper Trading system For MT4
- Selecting the trading instrument
- Zee Zee Scalper Trading system For MT4 - Long trade setup
- Zee Zee Scalper Trading system For MT4 - Short trade setup
- Trade Management
- Zee Zee Scalper Trading system For MT4 - Conclusion
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Zee Zee Scalper Trading system For MT4 is a sophisticated trading strategy. People who don’t have the basic knowledge about support, resistance, overbought, oversold, and different phases of the trend, won’t be able to use this indicator in a professional manner. Though the core principle of this system is based on megatrend, zee zee, and Swing zz indicator, it is important that you stick to the same old method of trading. For instance, try to locate the potential trend lines and SR levels by using the MT4 lines tools. The absolute beginners might find it hard but if you can learn things in a demo account. In fact, everyone should start using the demo account to master the use of a new trading method.
After installing the template in the main chart, you should see the dominant hull moving average (HMA). The period in the HMA is set to 144 and it has color changing property. When the trend is up, the HMA will be colored in green. And if the trend is down, the HMA will be colored in red. The zee indicator is used to identify the key swing point in the main chart. Note that the key swing point must match with the support and resistance level. For the trade confirmation, you should be using the ZZI indicator as it will show the overbought and oversold state of the asset.
Selecting the trading instrument
As a new user of the Zee Zee Scalper Trading system, you must know the Zee Zee Scalper Trading system is used to take the trades in the 5, 15, and 30-minute chart only. As you have to deal with the short term price dynamics, you must select your trading instrument wisely. Skilled traders usually ask the retail traders to scalp in the EURUSD and the GBPUSD pair. However, you can also take the trades in other major currencies with an extremely well-balanced scalping system. In that case, you should consider the dynamic spread. Since scalping offers quick profit-taking the opportunity to the retail traders, you should be taking the trades when the spread is less than 2 pips.
If you trade with a good broker, most of the major currency pairs will have less than 2 pips spread except during the news hours. So, it’s very obvious, you won’t be able to use the Zee Zee Scalper Trading system to scalp the market during high impact news release. Another important thing to consider is the prevailing trend. You should be looking to pick a trending asset since it will make things easier when it comes to technical analysis. And ignore taking the trades even in the EURUSD and the GBPUSD pair during the choppy state of the market.
Zee Zee Scalper Trading system For MT4 - Long trade setup
We have already said, the Zee Zee Scalper Trading system relies a bit on the old trading method. Draw your support level using the lines tools available in the trading platform. The support level must match with the key swing points of the zigzag lines. As the price drops to the support level, take the reading from the HMA. The color of the HMA must be green and the slope must be positive. At times, the support level will match with the HMA levels. Trade signals formed in the HMA levels tend to provide quick results to the trades.
Zee Zee Scalper Trading system For MT4 - Short trade setup
In this segment, we will teach you to use the Zee Zee Scalper Trading system in the most advanced way. Since the HMA act as a strong support and resistance level, most people tend to take the trades at that level. But they simply forget the fact, the HMA levels can be broken by the extreme selling or buying pressure. For the short trade, you need to find a clear bearish break in the HMA line. The HMA line should also match with the critical support level. As the price breaks the support, you will notice the zigzag lines is extending their leg showing the strong momentum of the sellers.
In order to get the confirmation signal, you should be looking at the ZZI indicator signal line. Above the 100 marks, you should notice a red line segment stating the overbought condition of the asset. Immediately take the short trade with 8 pips stop loss. The take profit for this short trade will be 24 pips. Since you are going to trade in favor of a strong breakout, you have a decent chance to ride a strong bearish rally. So, whenever you trade a breakout, increase the risk to reward ratio to 1:3. And make sure you are not taking insane risks just because the Zee Zee Scalper Trading system has a high success rate.
Professional traders always evaluate the trade signals based on the risk factors. If you take high risks, you won’t be able to deal with the intense stress. Most people trade with 2-3% while using the Zee Zee Scalper Trading system. But those who are absolutely new to the trading industry should risk only 1% of their account balance. And they should not have more than 1 open trades while using this unique trading system. After you become confident in using this trading method, you can start having multiple open positions based on this unique strategy.
Having multiple open trades results in added responsibility. The cumulative risk factors for the trades should never exceed 2% of your account balance. So, if the risk 1% in each trade, you can have 2 running trades. And try to take trades by analyzing the trading sessions. Opening a new trade in the EURUSD or GBPUSD pair during the Asian trading session is not a wise idea. Use the Zee Zee Scalper Trading system only to open trades in the active trading session only. By following this simple technique, you will be able to book the profit much faster.
Zee Zee Scalper Trading system For MT4 - Conclusion
The settings in the Zee Zee Scalper Trading system is very easy to understand. But you should not be fooled by seeing such simple settings. Thousands of traders are leading their life based on this unique system in a strategic manner. No system in the world is perfect. You must be ready to accept few losing trades once in a while and this should not make you frustrated. Accept the losses and look for the next trade setups with logic. If you feel frustrated, leave your trading station until you have a clear mind to analyze the market variables. And try not to use this amazing scalping system in the 1-minute chart. The 1-minute chart is extremely choppy in nature and it reduces the success rate of this system.
Traders usually become addicted to the Zee Zee Scalper Trading system after using it for few months. The winning streaks make them overconfident and eventually start overtrading the market. In order to avoid such a critical problem, you should always trade by using a standard trading journal. No matter which trading strategy you use, if you break the rules, get ready to blow up your trading account soon.
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