ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor Life isn’t easy. Women aren’t easy. However, this 1M Forex strategy is so easy that even a beginner can use it to make money.
I only use one moving average and a couple of simple patterns to win easy breakout trades like one that made me $2,600.
If we go into my verified account, you can see I won 6 out of 8 trades for over $5,000 in just three days.
This strategy banked me $800 on the first trade and $2,600 on the second. I lost $700 on the third trade, won $500 on the next, and $2,000 on the last.
I will teach you exactly how to use this scalping strategy, breaking down all of my live trades for you to know the tips and tricks I use to stay profitable.
The strategy takes very little time but can transform your trading account. If that sounds good, watch the Youtube video I’ve shared above, smash the like button, and subscribe to the channel.
Contents
1 Minute Scalping Forex Strategy
Follow these steps to install the strategy on TradingView:
- Login at the TradingView website (even for free)
- Select the M1 timeframe because it is a scalping strategy.
- Open the indicators tab and install the Moving Average Exponential. You can type “EMA” to find it.
- Double-click the EMA on your chart and head to the “Style” section to alter its design (color and thickness) based on your preference. The plan is to make it more visible.
- Go to the “Input” section and change the length to 100.
We’re looking for sell trades when the price goes below the exponential moving average and buy ones when the price is above.
To get those entries, we need price patterns, and I will focus on flag patterns this time.
If you’ve never seen a flag pattern, don’t fret; it’s simple:
The price again will form the shape and break out of it. There was an incredible(3.5:1 risk-reward ratio recently) trade with such a pattern.
It may take some time for your eyes to get used to it, but this is a solid pattern you should know how to use. It will help you with these massive breakout trades.
Rules For The 1 Minute Forex Strategy
Here are the simple 1-minute strategy rules for buy trades:
- Ensure the price is above the 100-period moving average.
- Wait for flag patterns to form.
- Anticipate the price to break out of the flag and trade it.
Set your stop loss at a recent swing low. It’s also essential that the price isn’t breaking the trend. For an uptrend, it should continuously form a higher low, telling us the underlying trend is still valid and will continue.
That’s that extra confluence you want to see.
Reverse the rules for a sell trade:
- The price must be below the 100-period moving average.
- Wait for a flag pattern to form.
- Anticipate the breakout before trading.
My sample sell trade with this strategy was also incredible, with a 3.5:1 risk-reward ratio.
Like the last example, we are in that downtrend creating lower lows and lower highs.
Moreover, the lower high (highest high in the flag) does not break a prior higher high, so the market structure is solid, being our extra confluence.
You may want to add an RSI or anything else to this strategy, but I like to keep it as simple as possible when using price action scalping on the 1M chart.
Live Trades With The 1 Minute Scalping Forex Strategy
Since you’ve already learned the strategy rules, it’s time to see my live trading examples, where I reaffirm all the confluences the tricks I use to stay profitable.
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Live Trade 1 (Sell)
I’ve already discussed my first live trade, but why did I look for sell trades? Foremost, the price was below my 100-period moving average.
I then sought a flag pattern (when the price comes down and consolidates such a shape) before breaking out.
For additional confluence in this example, there is an area of support and resistance right here before a pullback that ensures the market structure remains intact.
The price eventually went in my direction and smashed my first and second take profits. I made $806 on the first profit target and $1800 on the second.
It was a fantastic trade, all thanks to that flag pattern. Stick around for the following examples if you find spotting such patterns challenging.
Live Trade 2 (Buy)
The market structure wasn’t so pretty on my second trade, which isn’t surprising. A flag pattern was on the 1M time chart before I got a breakout.
I set my stop loss at a safe level below a significant low.
The price pushes up to my first take profit for a $530 win.
I decided to set a break even for my second take profit, and the price came down to hit it (which saved me in hindsight).
I watched this chart and noticed the price wanted to catch liquidity (taking my trade out) before pushing up significantly.
I could capture that move on my other trading accounts, but it wasn’t part of this strategy. Hence, this made me some extra cash on the side.
Live Trade 3 (Buy)
The third live trade was on the USDJPY chart.
As usual, the first thing I did was to ensure the price was above that 100-period moving average. Then, I looked for flag patterns, which I found and waited to break out to form another similar shape.
This one is a bit different than the others because we usually want to see the price push up first before the consolidation within the flag. I felt like the moving average would hold up the price.
It ended up a solid trade, as I smashed my first and second take profits. The first banked me $650, and the second $1300.
Admittedly, this didn’t follow the same structure as my other trades, but I was looking at a prior swing low that I didn’t want the price to break. I felt like it broke the level I would have completely given up on this market structure, expecting a reversal.
However, because price respected the area, I felt confident in the pattern and the moving average to hold up the price to continue upwards.
This one’s a bit more complex, and it’s okay if this isn’t something you can do. You don’t have to take every single trade I take.
Besides, you can use these extensively tested Forex robots for more profitability without breaking a sweat.
Live Trade 4 (Sell)
My fourth trade was challenging, which happens to me sometimes, as the price smashed my stop loss.
Following the trade along, it was a good analysis as the price eventually pushed down to my take profit level, so what happened?
We had a news release at the stop loss level, pushing the price. You’ve probably seen this in my articles before. I have to pay more attention to the news.
It’s an excellent idea to anticipate news events on the Forex Factory calendar. Sometimes I slip up, like in this trade, that price banged me out to lose $400 on the first take profit and $425 on the second.
The strategy would have worked well if it wasn’t for the news. I had the push down from the flag with a nice little breakout, and we eventually ended up with a nice move down.
Live Trade 5 (Buy)
This trade differs from the others, as price forms a pennant pattern.
It is similar to a flag pattern, as you should still wait for the price to be above the 100-period moving average for buy trades. However, unlike the others price doesn’t come up to form a flag shape. Instead, it creates a pennant pattern.
The price will come up before creating a wedge.
It has a similar effect as the flag pattern, as this trade pushed up aggressively and banked me $800 by smashing the take profit.
Instead of the normal pullback where the price will move further lower, this is more of a wedge. As the price consolidates within it, you can still get explosive breakouts.
Live Trading Results On Myfxbook
As seen below, I took a $5,000 account over $10,000 – a 100% gain.
On the first day, I made $800. On the following one, I went up to $2,500, and $5,000 on the third day. I had a good time using this strategy because price action is effective, and you should try using some of these techniques, whether you’re doing it on the M1 time frame or trying it on the H1.
Here’s a quick recap of the trades again +$800, +$800, +$1,700, -$700, +$500, +$600, and +$1,300, totalling $5,000.
I hope you’re happy with this strategy, and you can join my VIP trading room if you want some trades from me. I use tricks like this there every time to ensure all stay profitable.
If you have any questions about this strategy, leave a comment. Join my free room and subscribe to my Youtube channel.
Much love.
