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Forex traders may choose from a wide range of proven strategies. Some, such as swing trading, allow them to keep positions open for days. Scalping is the most hurried system, as its timeframes vary between 1 and 15 minutes. Many scalpers prefer the 60-second trade lifespan. Discover a powerful Olymp Trade strategy — it can help you make money in the quickest way possible.

Scalpers must open multiple trades daily. If you decide to focus on this shortest timeframe, make sure your broker is a market maker — i.e., it does not charge a commission per trade. Otherwise, the costs will eat into the profits. Experts steer clear of ECN accounts and make sure the spreads are competitive.

Overview of Technicalities

OlympTrade 1-Minute Strategy

First, due to the very nature of scalping, it is not suitable for limited orders. Many seasoned scalpers prefer finalizing trades manually. This is because every second may be crucial. Secondly, there are no guarantees that your win/lose ratio will be high. Thus, keep your profit targets two or three times higher than the risk amounts. 

Thirdly, it is recommended you choose two exponential moving averages (EMA) as technical indicators: a 50-day and a 100-day one. Stochastic oscillators are also a popular tool for calibrating entry points.

Finally, it is worth considering Heiken Ashi candlestick charts, as you will be focusing on short-lived trends. These visuals help you spot potential reversals and identify useful signals quickly, without a complex analysis of typical candlestick patterns.

Here is a closer look at the best tricks to consider. Remember to risk no more than 1% of your capital per trade. The quickest strategies are also the most stressful ones, so make sure you are well rested before the trading day. Otherwise, mistakes will be likely.

1. Choosing the Right Broker

Electronic communication networks, or ECNs, charge a commission for every trade. Sometimes, you may be charged $5 for a single lot — 100,000 units of your chosen currency. This cost model is unsuitable for traders who open dozens of positions daily — the costs may add up to $500 per session!

So, what should you do? Opt for a market maker. Such companies offer their own pricing with zero commissions. The rates only slightly deviate from the real live market quotes. 

Are the Spreads Tight Enough?

Today, due to intense competition, market makers have to offer tight spreads, so they accommodate the needs of scalpers. On average, a scalper aims for 5-10 pips of profit. Narrow spreads are essential. 

Choose your instruments wisely. In general, the most popular pairs like EUR/USD have the most favorable spreads. These are tighter than for minors, let alone exotics. Thus, the most popular pairs are also the most suitable for scalping.

2. Avoid Stop-Loss and Take-Profit Orders

As a scalper, you will be focusing on the shortest time frame. Every second is essential. You cannot afford to waste additional seconds setting up your automatic triggers. Scalpers rely on manual execution. Forget about limit orders if you adopt the one-minute paradigm.

This rule does have exceptions, though. During big economic announcements, you may be better off refraining from trading altogether. Alternatively, consider placing stop loss to hedge your earnings. The market may behave unpredictably.

3. Calibrate Profit and Loss Ratio

You may suppose more than half of your trades must be profitable. There is a good rationale, but achieving this in the long term is problematic. All the more so in a hectic environment like Forex scalping. So, what should you do?

Calibrate the size of profit and loss planned for every trade. For instance, you may set your target profit at 10 pips and limit potential loss to 5 pips. Alternatively, choose 9 and 3 pips respectively. The ratio does not have to be the same all the time! 

If you follow this logic, you will be able to achieve substantial payouts. Even when the majority of your trades fail (e.g., win/loss ratio is 40%), the overall result will be positive.

Exponential Moving Averages

4. Combine Exponential Moving Averages

A combination of three technical indicators will provide you with sufficient proof for a long or short position depending on the circumstances. Take advantage of the 50-day EMA and 100-day EMA. They will highlight strong uptrends or downtrends on the candlestick chart. Here are a few examples.

Suppose the current price for your currency pair is higher than both EMAs. You may conclude that there is an uptrend. The same should be suggested if you see the 50-day indicator cross and move above the other one — the price is rising, and its growth is quite robust. 

Now, consider the opposite situation. The 50-day EMA crosses and goes below the other one. You know that the instrument is losing value, and the downtrend is strong. It is a good time to sell.

But what about the third element? A stochastic oscillator is a number between 0 and 100. Anything over 80 suggests that the latest upswing was too strong, and Forex should be expected to see corrections and pullbacks. A value under 20 gives you the same information about the latest downtrend. Soon, you should expect your currency pair to rebound.

Combine Exponential Moving Averages

One Caveat

Like any other Forex strategy, this method should not be considered a universal recipe. Other factors at play may affect standard patterns. Still, using three indicators together is a sufficient basis. 

5. Olymp Trade Candlestick Strategy

Not every trader is happy about the need to analyze three different indicators simultaneously. They may appreciate the relative simplicity of this strategy. Based on the Heiken Ashi charts, the method may also improve their win-loss ratio. 

The term means ‘average bar’ in Japanese. These charts look similar to the standard candlestick visuals, yet they are a bit different as they are based on another formula. The opening and closing points of each candle do not coincide with the respective candlestick. A Heiken Ashi candle opens at the midpoint of the preceding candlestick. The closing price is the average of the open, clothes, high, and low price of the instrument.

What are Heiken-Ashi

This Olymp Trade candlestick strategy offers a more evident way to display trends and reversals. Conventional candlestick patterns in comparison are subjective and challenging. Scalpers may use more objective quantifiable tools to make accurate quick predictions. The chart filters out price noise, making reversals and trend consolidations more evident.

  • They show sentiment (bearish or bullish).
  • Candles with long bodies and small or no shadows result from energetic buying or selling.
  • Longer than normal shadows point to mood swings.
  • Dojis reflect hesitation.
Olymp Trade Candlestick Strategy

Trade Consistently

Choose a broker without commissions per trade. Calculate your target profit and loss carefully. Forget stop-loss orders and use a combination of two EMAs with the stochastic oscillator. Examine the Heiken Ashi chart. These five life hacks will help you make better decisions when trading on the currency exchange. Many scalpers consider this the best Olymp Trade strategy to date. Remember, though, that all of its rules must be followed to the letter. Stay the course and see whether performance improves. Avoid the temptation to abandon the system in hopes of making quick gains on the side.

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