#scarfacetrades #scalpingstrategy #algotrading
Is there any trading strategy by which we just spend 1 to 1.5 hours in the market and exit profitably without needing to look at and analyse charts the whole day. I was thinking about such trading strategy and then I found out about this First 5 minute scalping strategy of a youtube channel named “Scarface Trades” who has approx. 3.75 subscribers, so lets do 1 year backtest of this opening range breakout scalping strategy to verify if this strategy is as profitable as it is quick to use.
So, for this scalping strategy, we will go to 1 minute chart on trading view, and it applies on all instruments like stocks, index, forex, crypto, futures and options. So, we will first mark the High and Low of the previous day, then mark the high and low of the next day first 5 minutes, and then as soon as the price breakout of the high of today’s range, and then come back to retest it with a big bullish candle, then we will take entry at close of this green bullish candle, with stoploss a bit lower to the low of the bullish candle and target at previous day high with minimum rusk reward ratio of 1:2.The opposite of this strategy logic we will do for taking sell trades.
I have backtested this scalping trading strategy for 1 year using python code by creating an algo for this strategy and historical data for backtest was taken from dhan broker API.
This scalping strategy has given an annual return of 64%,initial capital taken is 1 lakh, winning trades were 49%, and i have also shown the equity curve of this strategy, drawdown curve showing maximum drawdown of 25% and PnL distribution chart in the video.
Now I can convert this trading strategy into an algo so that trades get executed automatically.
You can follow me on my youtube channel and instagram page whose link is in my youtube channel profile to learn more about algo trading and how to backtest trading strategies.
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