Xard 5 min Scalping Strategy For MT4
Table Of Contents:
- Xard 5 min Scalping Strategy For MT4
- Xard 5 min Scalping Strategy For MT4 – Long positions
- Xard 5 min Scalping Strategy For MT4 – Short positions
- Is Xard 5 min Scalping Strategy For MT4 profitable?
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 Xard 5 min Scalping Strategy For MT4 is a Moving average based short term trend following system. It makes use of the intraday pivot levels as the potential entry or take profit levels for the trades. As you can see, the most obvious thing that stands out is the fact that the charts are very cluttered. Therefore, traders will need to spend a bit of time to get accustomed to this trading template.
The XARD 5-minute scalping strategy makes use of quite a few indicators. However, going through them is almost impossible due to the fact that all of them are customized indicators.
Therefore, traders will need to spend a bit of time into understanding what each of these indicators do. But, looking at the charts you can easily find out that these custom indicators basically behave like moving average based trading systems.
Let's now take a look at how you can trade long and short positions using XARD 5-min scalping strategy for MT4.
Xard 5 min Scalping Strategy For MT4 – Long positions
To take a long position using the XARD 5 minute scalping strategy, wait for price action to move above the thick dotted moving average line. Following this, you should wait for price action to also close above the mid-level moving average line. When price crosses above this moving average line, you would see that it changes colors from red to blue.
Following this, you can now take a long position at market. You will notice that the indicator in the sub window will also point a downward pointing green arrow. This indicates that the market momentum is shifting to the upside. Bear in mind that sometimes the signals from the sub indicator might lag. Therefore, you need to keep a close eye for confirmation from this indicator.
After the above two conditions are met, you can take a long position at market. We recommend that you set your stop loss to the recent swing low that formed close to the thick black moving average line. For your take profit levels we recommend that you initially start off with a fixed risk to reward ratio followed by setting your second take profit level to one of the upper pivot points that you see on the price chart.
After your initial trade has reach the take profit level, we recommend that you should move your stop loss to break even. Also keep an eye on the indicator in the sub window which might pop up with the red histogram bar to the upside. This is when it is recommended that you could partially close your second position.
Xard 5 min Scalping Strategy For MT4 – Short positions
To take a short position using the XARD 5 minute scalping strategy, wait for price action to move below the thick dotted moving average line. Following this, you should wait for price action to also close below the mid-level moving average line. When price crosses below this moving average line, you would see that it changes colors from blue to red.
Following this, you can now take a short position at market. You will notice that the indicator in the sub window will also point to an upward pointing red arrow. This indicates that the market momentum is shifting to the downside. Bear in mind that sometimes the signals from the sub indicator might lag. Therefore, you need to keep a close eye for confirmation from this indicator.
After the above two conditions are met, you can take a short position at market. We recommend that you set your stop loss to the recent swing high that formed close to the thick black moving average line. For your take profit levels we recommend that you initially start off with a fixed risk to reward ratio followed by setting your second take profit level to one of the lower pivot points that you see on the price chart.
After your initial trade has reach the take profit level, we recommend that you should move your stop loss to break even. Also keep an eye on the indicator in the sub window which might pop up with the red histogram bar to the upside. This is when it is recommended that you could partially close your second position.
Is Xard 5 min Scalping Strategy For MT4 profitable?
The overall conclusion after demonstrating the XRD 5 minute scalping strategy is the fact that this is the trading system that works. However, there are a few twerks about this trading system which might not be appealing for all traders. The most obvious of all is the fact that the charts are very cluttered and therefore it is very difficult to see how prices are evolving.
However, this can be avoided by readjusting the indicators in this trading system. This means that you will have to spend some time in trying to customize the trading template that comes with the XRD 5 minute scalping strategy.
Another point to note is that this trading system makes use of too many indicators. As a result, the trading template can often take a bit of time to load. This can slow down the performance of your trading terminal. Therefore, traders need to bear this in mind before using the XARD 5 minute trading strategy.
While we can recommend the XARD 5 minutes scalping strategy for beginners, the fact remains that this is a trading system that takes a bit of time to get used to. Most importantly, traders will find a bit of difficulty in trying to adjust to the trading template that you see on the charts. As a result, we recommend the trader should spend enough time to practice on a demo trading account with this forex trading system before using it in the real markets.
Last but not the least, professional traders might find this trading template to be a bit of a put off. Therefore, we would like to recommend that this trading system doesn't really give you a big edge in the markets. It is merely based off moving averages and pivot levels which can be found in most other trading systems.
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Partially Automated Trading Besides Your Day Job
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