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Doda Forex Scalping Strategy
This is a scalping system inspired by Daniel Malaby. this system uses a doda stochastic indicator is a stochastic indicator with less noise. This is useful in a 1-minute timeframe . This system can be used in forex, futures, CFD, commodities and stocks.
Forex indicator:
- 2 Doda Stochastic indicators: (slow 15, 30, 9; level 90-10) and (fast 8, 13, 9; level 90-70-40-5)
Long Entry:
- Doda stochastic must be 95 or above.
- Doda Stochastic must cross upward level 40.
- Doda must reach 85 or above to know that it is a strong uptrend.
- Doda must cross upward level 40. This is to get a good risk and reward area.
- Exit at 20-30 pips or it depends on the currency pairs. Quick take profit would be 15 pips.
- Place stop loss at 25 pips.
Short Entry:
- Doda must be 10 or less. This indicates a strong downtrend.
- Doda must cross downward level 70 then enter a position.
- The stop loss should be 25 pips.
- Target profit would be 20-30 pips or it depends on the currency pairs.
- For quick take profit, go for 15 pips.
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