The developers position BO Magnum Scalping as a strategy that is equally effective for trading binary options and scalping trading in currency pairs on Forex . The basis of this system is the Stochastic Buy Sell Arrow indicator , which gives accurate signals without redrawing the chart. Additionally, in the archive you will find 5 more accurate indicators for MT4 , which are part of this strategy.
Assets and timeframes
It is recommended to use BO Magnum Scalping when trading major currency pairs (popular assets with high volatility) during the American or European sessions . The timeframe should be set at M1 and M5. For the first one you need to set the expiration period to 5 minutes, for the second - 30 minutes.
Opening a buy deal
When trading within this strategy, Call options must be purchased when:
- the price chart dropped below the lower border of the channel;
- a support level has formed on the chart (represented as a line of red dots);
- a green arrow pointing upward appears.
Opening a sell transaction
It is recommended to purchase Put options in the opposite situation:
- the price chart has crossed the upper limit;
- a support line has formed (in the form of blue dots);
- a downward red arrow appeared.
Even though BO Magnum Scalping is a simple strategy, you need to be careful when working with it. Before entering the market, it is recommended to test the capabilities of this system on a demo account and trade with a reliable binary options broker , who will withdraw the profit received from trading without delay.
Download the BO Magnum Scalping strategy and indicators
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See also:
The best indicators for binary options
How to choose a binary options broker
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