Great news: Around Feb 18-19, 2013 I'm going to launch my best newest scalping tool
I've ever made for Scalping trading: "INSTANT PROFIT SCALPER" mt4 indicator with buy/sell arrows,
popup alerts with sound. email alert and unique on-chart micro trend smart informer system!

 A combination between new scalping formula and built-in
custom scalping indicators (all in one) can produce highly profitable buy/sell scalping signals.
Believe it or not but once its used, up to 85 % of your scalping trades will now be profitable.
Stay tuned for my next email with "INSTANT PROFIT SCALPER" in the subject!
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Free Scalping System with indicator and setup template:
(source: open internet sources)
 

Currency: GBP/JPY USD/JPY GBP/USD (use it mainly on gbp/jpy):
Timeframe: 1M, 5M
Indicators: 3 sets of bollinger bands (scroll down for free template)

1) Period 50. Deviation 2 (RED)
2) Period 50. Deviation 3 (orange)
3) Period 50. Deviation 4 (Yellow)

Once you load your template you will notice the three sets of bollinger bands. Now, price will constantly range between these lines.

Sell strategy: When price crosses the upper red band , at least half way to the orange band (if it gets to the yellow band is better but not as usual) Then the price will tend to retrace towards the center of the bollinger bands, you profit form this retracing.

Buy Strategy: it is the same as selling, the difference is that we will wait for the price to range between the lower red and yellow bands, and trade the retracing towards the center.



Tips: do not trade on ranging ,or quiet markets, do not trade previous to news releases. Go for 5 to 10 pips. Great system to trade between opening of London session and the closing of the Japan session.

Time based: Try and figure out how long will it take the market to get in your expected direction, if the time that you planned is already due, then close the order. No point on waiting for a loss...

Stop Loss: Since you are trading a very tight time frame your stops should also very very tight. Sometimes, you will profit from a 3 minute trade and you wont be able to set a proper S/L. So your stops will be given to you by your money management system...

Template is available for download
scalping.tpl - right click "save as" to your c:\programfiles\mt4\experts\templates then load template onto your chart.