BASIC SYSTEM RULES:

Buy Signal
Notice the confirming indicators: EMA 4 crossed LMA 10 upward on up trend is advisable and realistic of achieving your target daily i.e. both moving averages crossed LMA 120, then set your Stop Loss 10pips below the LMA 120 or look for the swing low. Also confirm you signal when the MACD histogram is above the 0 line; signaling upward momentum.

Sell Signal
The chart is an example of SELL signal. Notice how MACD Histogram went from positive to negative, and how the moving averages confirmed the sell signal. The EMA 4 crossed LMA 10 down. Set your Stop Loss 10pips above the LMA 120.
When LMA 40 - 90 are above the LMA 120, it implies that the market is in up trend while below LMA 120 signifies down trend. You should also watch for overbought and over sold. Do not join the traders with mentality of "it will soon reverse" at losses. Get the trend as early as possible and follow the trend to maximize your profits.
Using 15 minutes chart, 10 to 20 pips is a realistic initial profit target, especially if you are trading EUR/USD, GBP/USD, USD/JPY. Even the other major currency pairs should yield this much on a properly measured signal.

TRADING PERIOD FOR THIS STRATEGY: Always watch out for good trading opportunity between 7:45 am NG time to 11:45 am for morning trading session, while 1.00 pm NG time to 3.45 pm is advisable for afternoon session.
TARGET: The purpose of scalping is making small profits while exposing a trading account to a very limited risk, which is due to a quick open/close trading method. I will advise you go for 10 pips plus spread per trade and demo trade this strategy for a month before going live with it. You could even go for 5 pips if you notice that the market is almost at it peak.
HIDDEN SECRETS: An additional advantage for traders technically is when there is no major news affecting the market. You will always see a clear trend for the day. When trading using technical indicators, make sure you know when the news is going to be released so that you can position yourself. i.e. close your trade 10 to 15 minutes before the (FA) news. Then 15 minutes after the (FA) news, you could trade

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In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
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