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Successful Trading Pattern BERSI Scalp: Update!
Initially, there were some minor problems with our strategy BERSI Scalp. We mentioned that almost a month ago in the article “The results and the impressions of the traders“. I want to apologize for all the problems and I have good news for you:
All the problems have been resolved.
- The strategy used to jam and slow down the computer. – With a help of my programmer, I solved everything. Now the strategy is much faster so there should not be any problems anymore.
- The strategy would show incorrect expiration times. – The error was in the code responsible for choosing the most appropriate expiration time based on the current timeframe. I solved this error and now the strategy shows the recommended range of expiration times for trading.
The revised strategy is successful
I have sent the strategy to several traders, who had problems with the old version to make sure that the strategy is really fixed and functioning properly. The traders confirmed me that the strategy works and actually it is better than before. That’s cool, right?
I don’t know why, but at the beginning the new version did not work. But then it started to work and it is working even better then the previous version. I tried to open 6 graphs at the same time and all of them were working :-). This would have never functioned using the previous version. There, I could open max. 2 graphs and even with them I had problems. Great job. However sometimes when I want to change some settings, it takes a little while, but that are just details which don’t matter.
From 18:00 – 19:40, 18 arrows from 6 graphs appeared with the results below:
7 trades, which I did not trade (the arrow was near a major support/resist lines), I think that all of them would have ended as loss
I am going to test the strategy again this week and will give you feedback.
Thanks to all traders who participated in the testing of this strategy
You might think, that you would not be able to filter trades (just like the trader who sent me the above email did). That is not true! Thanks to the PDF manual, which is a part of the strategy, it will be very easy to filter bad arrows.
And what is included in the PDF manual? You can see that on the table of contents below
The table of contents of the PDF manual, which is a part of the strategy
My successful trades
As soon as I had the final version of the strategy ready, I didn’t hesitate too much and made a few trades. As you can see in the picture below, the results are more than satisfactory.
My very first two trades using the latest version of the strategy. You can download it here
How to trade using the strategy BERSI Scalp?
I recommend entering a trade only when an arrow appears. But be careful! The fact that an arrow appears doesn’t mean a 100% successful trade.
It is necessary to ‘filter’ the arrows. This means that using the rules described in this manual, you have to examine whether it is appropriate to enter the trade or not. For example, if the arrow is a few pips from the weekly line, I would not trade it. The same is when the price is near some important resistance or support line.
On the contrary, when the arrow appears in the direction of rebound from an important support line, I would open even two positions.
It is all about practice and identification with the strategy. Therefore, I recommend using it with the demo account first, for example with the free demo account from xbinop.com
– An excerpt from the PDF user manual, which is a part of the strategy.
Plans for the future
As I wrote in my last article, in the next days/weeks I would like to work on video tutorials for the strategy. It is something that a lot of you asked me for and I will be happy to fulfill that. I will simply record my trades and add some short comments. I hope it will help you.
Download the strategies BERSI
As you already know, the strategy BERSI Scalp is the latest version of the famous strategy saga BERSI. Its predecessors were BERSI and BERSI 2.0, available now to download for free without any obligations, without providing any e-mail address or anything else. So you can try what more or less you can get. J
More about the author Step
I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author
6 Responses to “Successful Trading Pattern BERSI Scalp: Update!”
can a video be made on the installation process, I can’t seem to get it
Hello, we are sorry the strategy is not available anymore.
Thank you for understanding.
are you saying its not functioning any more?? ( just want to understand.
Yes. The strategy is not working anymore and we are not updating it anymore. You need to use different trading patterns. I’m sorry about that.
Hello, I want to register iqoption with your affiliate link, can I get it free?
Dear Atabak, unfortunately, we can not provide strategy to IQ Option users.
BERSI Scalp – The results and the impressions of the traders
It has been almost three months since the publication of our latest strategy, BERSI Scalp. The strategy was during the three months downloaded by a huge number of new as well as highly experienced traders, who are following us since the publication of BERSI 2.0 and BERSI. (Available now for free)
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I guess it is the right time to evaluate how the strategy works, whether it is profitable and so on.
So let’s do it!
Success: Super results for traders
Some traders (me included) achieve very good results with this strategy. But it is nothing to be surprised about. If one has a basic knowledge of technical analysis and is able to filter out signals which BERSI Scalp generates, there is no reason, why this strategy shouldn’t work.
Maybe that’s why I got emails like these (I hope nobody will go mad when they see their email here )
Hello, I just wanted to ask about bersi scalp. Yesterday I had a day off so I had time to do some serious trading. I just added adx to control the strength of the signals and in the morning between 8am and 9am I got 9 of 10 trades correct. As you pointed out in the manual, the strength of the signal got weaker from 5 p.m. Is it possible to use higher tf, for example 5-15 minutes, for this strategy during the afternoon? Thank you
Very good strategy, it already overcomes all possible strategies available. If you continue developing and improving it we are going to have something to be looking forward to.
One of many comments we got (translated from Czech)
Hello Stephen. The BERSI Scalp strategy is perfect. I am learning a lot and sometimes I trade. My daily earnings come to 80 USD per day and I manage to follow it. Sometimes I am impatient and I would like to continue, but I am trying to hold back (your advice )
However, everything is not so rosy as it may seem. I frankly admit it, because I want to be 100% honest with all the traders and readers. So what went wrong with the strategy?
A major setback, which we and other traders have discovered is that the strategy lags and sometimes does not work as it should. When we worked on the strategy with my programmers, we used the same Meta Trader 4. We didn’t realize that not everyone uses the same program. Somebody has a newer version and somebody a completely different one. Some traders have computers slower than us and so on.
All this contributed to the fact that the strategy slightly stuck (sometimes too much). Sometimes it was not possible to properly follow the strategy. I am also aware that the expiration time, which was mentioned in warnings, was not always correct.
Currently we are working on all weaknesses. As soon as everything is solved and the indicators will be reprogrammed, we are going to publish it here on the site. Of course all traders who already have the strategy will receive this update and my help for free.
Our plan for the future
As I said, in the following days I would like to focus on the correct functionality of the strategy BERSI Scalp on all computers. It was my fault that I did not check it before and I apologize for it. I believe that you forgive me and that you are going to try the updated version, which is going to be faster, working 100% and it is going to use the correct expiration times.
Another of my plans for the next few weeks is: record a few videos on how to properly deal with the strategy, when to let the arrows go untraded and when to execute the trades. I know that it’s very well explained in the user’s manual, but in my opinion, the video manual is always a little bit better.
More about the author J. Pro
Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author
Scalping: Small Quick Profits Can Add Up
Scalping is a trading style that specializes in profiting off small price changes, generally after a trade is executed and becomes profitable. It requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains the trader worked to obtain. Having the right tools such as a live feed, a direct-access broker and the stamina to place many trades is required for this strategy to be successful.
Read on to find out more about this strategy, the different types of scalping and for tips about how to use this style of trading.
How Scalping Works
Scalping is based on an assumption that most stocks will complete the first stage of a movement. But where it goes from there is uncertain. After that initial stage, some stocks cease to advance while others continue.
A scalper intends to take as many small profits as possible, without letting them evaporate. This is the opposite of the “let your profits run” mindset, which attempts to optimize positive trading results by increasing the size of winning trades while letting others reverse. Scalping achieves results by increasing the number of winners and sacrificing the size of the wins. It’s not uncommon for a trader with a longer time frame to achieve positive results by winning only half or even less of his or her trades – it’s just that the wins are much bigger than the losses. A successful scalper, however, will have a much higher ratio of winning trades versus losing ones, while keeping profits roughly equal or slightly bigger than losses.
Scalping: Small Quick Profits Can Add Up
The main premises of scalping are:
- Lessened exposure limits risk: A brief exposure to the market diminishes the probability of running into an adverse event.
- Smaller moves are easier to obtain: A bigger imbalance of supply and demand is needed to warrant bigger price changes. For example, it is easier for a stock to make a 10 cent move than it is to make a $1 move.
- Smaller moves are more frequent than larger ones: Even during relatively quiet markets, there are many small movements a scalper can exploit.
Scalping can be adopted as a primary or supplementary style of trading.
Spreads in Scalping vs. Normal Trading Strategy
When scalpers trade, they want to profit off the changes in a security’s bid-ask spread. That’s the difference between the price a broker will buy a security from a scalper (the bid) and the price the broker will sell it (the ask) to the scalper. So, the scalper is looking for a narrower spread.
But in normal circumstances, trading is fairly consistent and can allow for steady profits. That’s because the spread between the bid and ask is also steady, as supply and demand for securities is balanced.
Scalping as a Primary Style
A pure scalper will make a number of trades each day — perhaps in the hundreds. A scalper will mostly utilize tick, or one-minute charts since the time frame is small, and he or she needs to see the setups as they shape up in as close to real-time as possible. Supporting systems such as Direct Access Trading (DAT) and Level 2 quotations are essential for this type of trading. Automatic instant execution of orders is crucial to a scalper, so a direct-access broker is the preferred weapon of choice.
Scalping as a Supplementary Style
Traders with longer time frames can use scalping as a supplementary approach. The most obvious way is to use it when the market is choppy or locked in a narrow range. When there are no trends in a longer time frame, going to a shorter time frame can reveal visible and exploitable trends, which can lead a trader to scalp.
Another way to add scalping to longer time-frame trades is through the so-called “umbrella” concept. This approach allows a trader to improve his or her cost basis and maximize a profit. Umbrella trades are done in the following way:
- A trader initiates a position for a longer time-frame trade.
- While the main trade develops, a trader identifies new setups in a shorter time frame in the direction of the main trade, entering and exiting them by the principles of scalping.
Based on particular setups, any trading system can be used for the purposes of scalping. In this regard, scalping can be seen as a kind of risk management method. Basically, any trade can be turned into a scalp by taking a profit near the 1:1 risk/reward ratio. This means that the size of the profit taken equals the size of a stop dictated by the setup. If, for instance, a trader enters his or her position for a scalp trade at $20 with an initial stop at $19.90, the risk is 10 cents. This means a 1:1 risk/reward ratio will be reached at $20.10.
Scalp trades can be executed on both long and short sides. They can be done on breakouts or in range-bound trading. Many traditional chart formations, such as cups and handles or triangles, can be used for scalping. The same can be said about technical indicators if a trader bases decisions on them.
Three Types of Scalping
The first type of scalping is referred to as “market-making,” whereby a scalper tries to capitalize on the spread by simultaneously posting a bid and an offer for a specific stock. Obviously, this strategy can succeed only on mostly immobile stocks that trade big volumes without any real price changes. This kind of scalping is immensely hard to do successfully, as a trader must compete with market makers for the shares on both bids and offers. Also, the profit is so small that any stock movement against the trader’s position warrants a loss exceeding his or her original profit target.
The other two styles are based on a more traditional approach and require a moving stock where prices change rapidly. These two styles also require a sound strategy and method of reading the movement.
The second type of scalping is done by purchasing a large number of shares that are sold for a gain on a very small price movement. A trader of this style will enter into positions for several thousand shares and wait for a small move, which is usually measured in cents. Such an approach requires highly liquid stock to allow for entering and exiting 3,000 to 10,000 shares easily.
The third type of scalping is considered to be closer to the traditional methods of trading. A trader enters an amount of shares on any setup or signal from his or her system and closes the position as soon as the first exit signal is generated near the 1:1 risk/reward ratio, calculated as described earlier.
Tips for Novice Scalpers
With low barriers to entry in the trading world, the number of people trying their hands at day trading and other strategies such as scalping has increased. Newcomers to scalping need to make sure the trading style suits their personality because it requires a disciplined approach. Traders need to make quick decisions, spot opportunities and constantly monitor the screen. Those who are impatient and feel gratified by picking small successful trades are perfect for scalping.
That said, scalping is not the best trading strategy for rookies, as it involves fast decision-making, constant monitoring of positions and frequent turnover. Still, there are a few tips that can help novice scalpers.
- Order execution: A novice needs to master the art of efficient order execution. A delayed or bad order can wipe out what little profit was earned and even result in a loss. Since the profit margin per trade is limited, the order execution has to be accurate. As mentioned above, this requires supporting systems such as Direct Access Trading and Level 2 quotations.
- Frequency and costs: A novice scalper has to make sure to keep costs in mind while making trades. Scalping involves numerous trades — as many as hundreds during a trading session. Frequent buying and selling are bound to be costly in terms of commissions, which can shrink the profit. This makes it crucial to choose the right online broker. The broker should not only provide requisites like direct access to markets, but also competitive commissions. And remember, not all brokers allow scalping.
- Trading: Spotting the trend and momentum comes in handy for a scalper who can even enter and exit briefly to repeat a pattern. A novice needs to understand the market pulse, and once the scalper has identified that, trend trading and momentum trading can help achieve more profitable trades. Another strategy used by scalpers is a countertrend. But beginners should avoid using this strategy and stick to trading with the trend.
- Trading sides: Beginners are usually more comfortable with trading on the buy-side and should stick to it before they gain sufficient confidence and expertise to handle the short side. However, scalpers must eventually balance long and short trades for the best results.
- Technical analysis: Novices should equip themselves with the basics of technical analysis to combat increasing competition in the intra-day world. This is especially relevant in today’s markets dominated by high-frequency trading, as well as the increasing use of dark pools.
- Volume: As a technique, scalping requires frequent entry and exit decisions within a short time frame. Such a strategy can only be successfully implemented when orders can be filled, and this depends on liquidity levels. High-volume trades offer much-needed liquidity.
- Discipline: As a rule, it is best to close all positions during a day’s trading session and not carry them over to the next day. Scalping is based on small opportunities that exist in the market, and a scalper should not deviate from the basic principle of holding a position for a short time period.
The Bottom Line
Scalping can be very profitable for traders who decide to use it as a primary strategy, or even those who use it to supplement other types of trading. Adhering to the strict exit strategy is the key to making small profits compound into large gains. The brief amount of market exposure and the frequency of small moves are key attributes that are the reasons why this strategy is popular among many types of traders.
Chart Pattern Trading Strategy Step-by-Step Guide
Our team at Trading Strategy Guides is launching a new series of articles. They can be found in Chart Pattern Trading Strategy Step-by-Step Guide. These articles will enhance and elevate your trading to a new level. This technique will give you a framework to examine the fight between the bulls and the bears methodically.
By trading the most profitable chart patterns, you can deduce who is winning the fight between the bulls and the bears. This strategy can be used to identify a stock chart pattern. It is also used to identify any instrument that you are planning on using for day trading.
We share this because it will greatly improve your ability to understand the price movements and price breaks. Ultimately, this will make you a much better trader. The key to this style of trading will be to identify how a pattern forms. You’ll also have a greater understanding of market analysis as a whole. This article will introduce several entry-level patterns and then dive into some special patterns.
These patterns are the symmetric triangle and double bottoms. We also believe that it is important to use these with pivot points as well. This type of training will set you apart from the average traders.
To start, I recommend getting some basic stock charting software with some very simple tools, such as moving average and other indicators. This can help you perform market analysis and also help you be in front of the charts when a pattern forms. The ascending triangle will be a valuable pattern in your trading arsenal.
The rounding bottom, head and shoulders patterns, inverse head and shoulders, reverse head and shoulders, triple bottom, cup and handle and the descending triangle, are also valuable. These patterns will help you find trade ideas faster than what the average trader will be able to find. It will help you make sure that you enter the trade at the right price levels.
These types of patterns will allow you to trade any currency pair. The trades are not dependent upon market trends or the economic calendar to find successful trades while day trading. This write up will not be like other blog articles you have read. This is because we are going to give you step by step instructions on how to place trades using the exact price pattern for the strategy.
There are thousands of traders around the world that trade these specific type of formations like the triangle pattern. Famous trader Dan Zenger has turned $10,000 into $42 million in under 23 months by using a chart pattern trading strategy.
To truly succeed in trading, you can simply start to mimic what professional traders do. Begin to test the strategy and then measure the results.
We have dedicated a lot of time to studying price action. You can see some evidence by studying some of the best pure common chart patterns strategies here:
Let’s move forward and define exactly what we are looking at. More importantly, we will define how we can profit from them.
What are Chart Patterns?
In technical analysis, chart patterns are simply price formations represented in a graphical way.
Without a doubt, this is one of the most useful tools when performing technical analysis of price charts. Chart patterns are a very popular way to trade any kind of market. The most profitable chart patterns give us a visual representation of the supply and demand forces. They also show the relative strength of the specific price levels.
If we’re on the supply and demand topic, we recommend studying more about this subject here: Supply and Demand Trading-Learn about Market Movement.
What makes chart patterns so appealing is that it also brings to light what happens behind the scene. This refers to the buying and selling pressure.
Note* A chart has its own language and it speaks through chart patterns and they leave footprints of the big money or the smart money. These footprints can lead us into highly profitable trades.
Why Are Chart Patterns So Important?
If you remove all your indicators and momentum indicators from the charts, and everything else that might make your chart less clear, and just look at the price action, whether it’s a 5-minute chart, daily chart or similar, it’s your preferred time frame. You’ll actually gain more insights into what happens in the market.
As long as the candlesticks have the variable open, high, low and close; you can use them just to confirm your position or enter a new trade. You can build a really successful chart pattern trading strategy without the need for any other technical indicator. Here is an example of a master candle setup.
There are bullish and bearish chart patterns. What makes them work is that they tend to reoccur over time, making it possible to backtest them and find their probability of success rate.
Types of Chart Patterns:
Throughout this article series, we’re going to discuss how to make money with the most profitable chart patterns. Some of the most profitable chart pattern trading strategies include:
Earlier, we posted a clear price chart of the EUR/USD. But if you look closer and read the chart patterns language, we can identify some of the most profitable chart patterns (see figure below).
It doesn’t matter what time frame or market you trade because chart patterns are present everywhere when there is a battle between buyers and sellers.
Let’s discuss how we can use the trading strategy and make money trading in any market. The key is to look at the lower trend line and try to find a triple bottom show up anywhere on your chart.
Chart Pattern Trading Strategy – Rules
We have developed five step-by-step guidelines that are important to take into consideration when trading any of the chart patterns:
Step 1: Always determine if the market is in trend mode or consolidating.
This step is important because, although some of these simple chart patterns often are forms of consolidation, they are actually continuation patterns of an underlying trend.
For example, a bullish flag pattern – read more about it HERE – is a pattern that forms after a larger move up. The pattern itself is just a brief form of relief, or consolidation, from the underlying trend, before breaking to new highs.
Basically, the bullish flag pattern is a continuation pattern.
We can distinguish mainly two types of chart patterns:
- Continuation Patterns: signals that the trend will continue.
- Reversal Patterns: signals the possible end of a trend and the start of a new trend.
An example of a reversal pattern is the double top pattern highlighted in the figure below:
It’s important to determine whether the market is trading or consolidating. This is because it will reveal what type of chart patterns work best for each trading environment.
Note** The reason why many price action traders fail is because they don’t follow this first rule. They try to trade every pattern regardless of the whole picture.
Step 2: Decide What Chart Patterns You Want to Use.
Do you like to trade reversal patterns or are you more comfortable trading continuation chart patterns?
Figure this out first! When you have decided which way to go, try to master the particular trade setup.
Repetition is the mother of all learning. The more you trade the most profitable chart patterns, the better you’ll become at spotting these chart patterns in real-time.
Our team at TSG is a huge fan of the triple top chart pattern. This is because of the potential profit available once a new trend has developed.
Step 3: Look for the Story in the Chart Patterns.
What you have to do here is to construct a story behind your favorite setups.
What do we mean by that?
Simply, look at the whole price picture, don’t just focus on the chart patterns. What you need is for this story to confirm your price action pattern. Everything else must point in the same direction. Finding the proper direction to place your trades will help you to increase your win rate.
For example, the narrative behind the bullish flag highlighted in Step #1 is easy to spot. We’re moving in an uptrend because we have developed a series of higher highs and higher lows.
Secondly, we broker and close above an old high; no resistance spotted above market price are all good ingredients. They speak volumes in favor of our bullish flag pattern.
Step 4: Trade Chart Pattern Trading Strategy in Confluence With Good Price Location.
Chart patterns work best in conjunction with a good price location which can add confluence to our trade.
What do we mean by price location?
In simple terms, a price location is just an important area on the chart where we normally expect a price reaction. That price location can either be a support/resistance level, swing high/low points or some pivot points. The location can even be technical indicators if you combine the two.
For example, the price channel pattern highlighted in figure 3 worked out because we had confluence with the higher time frame resistance level. The EUR/USD was simply trading in an upward channel, but heading right into a resistance level.
Step 5: Make Non-Subjective Trading Rules for Trading Chart Patterns.
The last step to build a chart pattern trading strategy is not just to have some non-subjective trading rules, but also writing them down and following your plan strictly.
There are many possible ways a trader can profit from these chart patterns.
For example, the bullish flag pattern can enter at the retest of the flag support or the breakout above the flag. You can also trade with the breakout triangle strategy.
Become a master of only one setup and one chart pattern trading strategy. Prove to yourself that you can be profitable trading one pattern before you move on. In simple terms, find a pattern that you like and become very good at that chart pattern trading strategy.
Conclusion – Trading Chart Patterns
We hope you enjoyed this article on trading chart patterns.
We can fast track your career by giving you the most profitable chart patterns, which is easy. But the one thing we can’t give you is screen time and experience. That’s something that you need to gain over a period of time. Below is another strategy called trading volume in forex.
When it comes to chart pattern trading strategy, there are no magic bullets. This is because you’re going to make mistakes. Secondly, you’ll still be having losing trades. The whole idea is to become selective on the chart patterns you trade.
Thank you for reading!
Please leave a comment below if you have any questions about our Chart Pattern Trading Strategy!
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Recurring Day-Trading Setups You Can Use to Pursue Profit
Despite the fluid nature of each trading day, price patterns can recur, signaling trading opportunities for investors who know what to look for. Those changes in daily prices that seem random could actually be indicators of trends that day traders can take advantage of.
The following five day-trading setups, or entry strategies, have a tendency to emerge in the market at some point on many, but not all, days. By learning to recognize these trading setups, a day trader may take actions that could improve their chances of seeing a profitable return.
A trading session often begins with a strong move, called an impulse wave, in one direction. This usually occurs within the first five to 15 minutes after stock trading begins. The price may then pull back and stall out, forming a consolidation where the price moves sideways for two or more minutes. This consolidation should occur within the range of the impulse wave. If the price falls off the open, the pullback and consolidation may occur below the opening price.
Based on the direction of the initial impulse, wait for a breakout from the consolidation in that same direction. A breakout in the opposite direction of the impulse isn’t traded. For example, if the price rallied off the open, then pulled back and consolidated above the open price, wait for the price to break out above the consolidation. That should trigger a buying opportunity. Bid one cent above the consolidation high point for a long trade (buying in the hope of selling later for a higher price). Or bid one cent below the consolidation low point for a short trade (selling borrowed shares in the hope of buying them at a lower price before returning them to the lender).
The consolidation should be relatively small compared to the impulse wave that preceded it. If the consolidation is large compared to the impulse wave, the pattern is less effective. There should be a distinct impulse wave, a distinct pullback, and a distinct consolidation during the pullback. If each of these parts is not discrete, the pattern is less effective and should be avoided.
This pattern could occur throughout the day, but keep in mind that the most significant moves in a market typically occur near the open. Catching the first trade of the day with this strategy can have a substantial impact on overall profitability. If this pattern occurs later in the day, it will often produce smaller price moves.
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