ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor It’s disheartening to follow a trading strategy perfectly but still constantly lose trades. I will show you what’s wrong, how to fix it, and how I made $20,379 gold scalping this past week (thanks to volume).
If you’re losing too many trades, you should consider adding a volume indicator to reduce some poor entries. Volume is essential because it can tell you how much strength is behind a move, increasing the probability of winning a trade.
Moreover, you can add this to any strategy.
The problem is that many of the volume indicators on TradingView are substandard. Hence, today, I’ll tell you the volume indicator I use and give you a 1-minute gold scalping strategy that made me over $20,000 a week using volume.
In return, please watch the Youtube video about this article shared above, smash the like button, subscribe to the channel, and consider joining my free Telegram group, where I send free trading signals week-long.
Contents
One-Minute Gold Scalping Strategy
Before going into the details of this trading strategy, here’s the result of my first trade:
You can see it went in my direction and smashed my take profit in just about 30 minutes for $3,035. I only used two indicators – the first for entries and the other for trading volume as confluence.
My verified MyFxBook account shows I made $20,000 in just a few days using this scalping strategy. The records include the one I shared above of $3,035 in 30 minutes.
I had three more wins and one loss, which I’ll show you later.
How To Install The Gold Scalping Strategy
Here’s how to install this strategy so you can try it this week:
- Go to the TradingView website. You can use the free version.
- Set your time frame to 1M because this is a one-minute scalping strategy on gold.
- Open the indicators tab, search for the SSL channel, and click it to appear on your chart.
- The second indicator we’re using is the Volume fight by Shuttle_Club.
We don’t have to change any of the settings. It’s that easy.
1 Minute Gold Scalping Rules and Backtests
Now that we’ve set the stage, we are looking for the SSL channel cross.
If it’s a buy trade, we want the green line crossing the red line from the bottom. Conversely, we want the green crossing the red from the top if it’s a sell trade.
The only other things we’re using are common sense and our volume indicator for confluence.
A green arrow below the volume indicator tells us we have bullish volume, while a red one above signifies a bearish one.
In my example, we were looking for those buy trades, expecting to see a big green arrow telling us that we have a lot of volume that will push the market.
I also had the green crossing the red line on the SSL channel, and the trade shot up and smashed my take profit quickly.
Trade Example 2 (Undecided)
In my second example, we were not supposed to place the trade.
We have a cross twice that could’ve signified a buy or sell trade. However, the volume was area gray, telling us there’s indecision in the market.
Since we don’t have volume in one direction or another, we just avoid these trades. Simple.
Trade Example 2 (Undecided)
The green line crossed the red in this example. Hence, one could have been preparing to take a buy trade.
However, the volume indicator would immediately disqualify that being a bearish one. We should have been searching for sell trades, and when the green line crosses down eventually, we can open one.
If I did, it’d have smashed my take profit.
Live Trades With The 1 Minute Gold Scalping Strategy
Since you now have the strategy installed and know the rules, I will show you some more tricks in my live trades this week to understand what I’m looking for so you can start making money.
Live Trade 1 (Buy)
I already showed you this live trade at the beginning, but I just wanted to quickly recap it now that you know the rules and the strategy.
I had the green line cross; my volume and price pushed up, winning me over $3,000.
Taking a closer look at this trade, I went for a 2.9 risk-reward ratio, which is solid, but you aren’t always going to have the same amount of experience I have with these strategies. Hence, if you want to play this one a bit safer, you can scroll back and target a closer area (like a significant swing high earlier in the price).
I targeted a higher level because I was confident with this trade.
Live Trade 2 (Buy)
My second live trade was a bit of a counter-trend one.
There was a trend line just broken before I got my SSL cross. Then the arrow appeared with a green volume near my confluence indicator.
Hence, I placed a buy trade, which went in my direction and smashed my take profit. It was a solid trade.
Some of you may already be thinking, “Hey. I don’t like counter-trend trading.” That’s fine if you feel that way. You don’t have to take this trade.
However, I was confident in this trade and the take profit level.
A price consolidation was available earlier, which increased my confidence in the take profit level.
The trade had an excellent risk-reward ratio of 1.5. It banked me $4,836 in about 1 hour 30 minutes.
You need to place a trade in a broker if you want to win big like this. That’s why I recommend the number one Forex broker on the market, Hankotrade.
I love Hankotrade because the spreads are small, helping me win my trades better, and they pay out all my withdrawals quickly. There’s no better broker out there.
Live Trade 3 (Sell)
This trade was a losing one (about $1739).
Looking at the trade closely, I should have entered it earlier because it had most of the volume that pushed down the price below (in hindsight). However, I missed that point.
The volume then got ‘exhausted’ and wasn’t so bulky when I could enter the trade. It didn’t have enough strength to push it to my take profit.
I made a mistake; it is what it is, but you won’t always win every trade with this strategy or in life. That’s just part of trading.
In retrospect, there were areas where we could have set a better take profit on this trade.
There was a strong support zone in the past where the price has reached. If I decided to use this as my take profit, I still would have won the trade because there was enough volume to push the price there.
Thus, because I lost the trade doesn’t mean there weren’t ways to win it. It’s easy to regret it and say, “I should have done X, Y, and Z” to ensure I won.
Live Trade 4 (Buy)
On the contrary, the fourth trade I took was a much nicer one.
I had the red line cross the green line going above but couldn’t take a trade due to the green volume below.
Instead, I waited for another cross of the green line through the red from the bottom before looking for a buy trade. The volume was massive there, making it easier for me to enter.
Price hit my first take profit, banking $4,950, and the trade continued and hit my second take profit, banking me $9,405.
So I used two take profits because I was confident in this trade.
We were in an uptrend, so I just continued with the momentum. We also had significant volume earlier, telling me we had enough weight behind that trade to push it up the hill. Hence, it was an excellent trade and strategy.
Live Trading Results From The 1-Minute Gold Scalping Strategy
After a few days of trading, I had one loss at the beginning for $1,700. Then I put four wins in a row of $3,000, $4,800, $4,800, and $9,300
When you go on a roll like this one, it’s just a helluva week, and I was more than thrilled with the results. I hope you test this strategy and ask any lingering questions in the comments section because I’m always here to help.
If you want to get some trades from me, consider joining my VIP trading room. We’re on a roll right now.
I have also tested several forex robots and shared the best three, so review them if you want a stress-free trading lifestyle.
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Much love.
