Best forex brokers in mumbai
Learn how to use the The Mumbai Scalper Strategy. Best forex brokers in mumbai the article and watch the video tutorial to trade this strategy. Analyst Navin Prithyani on forexwatchers.
During my travel to India, I got a chance to visit Mumbai. Here I best forex brokers in mumbai to experience the hustle and bustle of this financial juggernaut of India. The pace is very best forex brokers in mumbai and everyone is trying to make a quick buck. This is very similar to our scalpers in the Forex industry. Let's start off by opening a 15 minute chart on your desired pair. Preferably choose a forex pair with low spreads.
Then attach the Parabolic SAR with the settings mentioned above. The Parabolic SAR should be used by giving best forex brokers in mumbai a sense of direction similar to a moving average. Once we find a trend in the market, we keep a look out for a cross in the Stochastic Oscillator to confirm the entry. If the Parabolic SAR is in a downtrend we need to wait for a confirmation of the Stochastic Oscillator to cross above the 70 level. When these two criteria are confirmed, we enter at the opening of the next candle.
If the Parabolic SAR is in an uptrend we need to wait for a confirmation of the Stochastic Oscillator to cross below the 30 level. When these two criteria are confirmed, we would enter at the opening of the next candle. Option 2 Open 2 lots. Then exit at Support and Resistance levels. Option 3 Exit at the nearest 50 or 00 level. These are psychological levels. Option 4 Trailing Stop. Once in a trade, at the close of each candle, place your stop 1 pip below the low if in a buy trade. Vice versa for sell trade.
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