Morning Scalp Strategy by Trading_Bites
By Trading_Bites
Performance Metrics
- Author: Trading_Bites
- Symbol: NASDAQ:MEGL
- Timeframe: 5 minutes
- Net P&L: +144.39 USD (+4.81%)
- Win Rate: 100.0%
- Max Drawdown: 74.00 USD (2.47%)
- Total Trades: 1
Description
The Morning Scalp Strategy combines the 50EMA with the Stochastic Momentum Index. The morning period is when penny stocks usually have the highest volatility, so the strategy works between 10:00 AM and 12:10 PM.***It opens only long positions. The ideal timeframe for this scalping strategy is 5 minutes on low-price stocks. The stock should spike in the morning with momentum and Volume.***Look for a daily or intraday support area, close to the open position, to increase the confidence in the playThe components are:- EMA50: Exponential Moving Average (EMA50)- Stochastic Momentum Index (SMI)Rules:- Period: 10:00 AM and 12:10 PM - if SMI Crossover and SMI < 0, open a position- If close < EMA50, close the position- Profit target: To be decided by the user, default value = 10% above the entry priceIf you have any questions, let me know!