Get your Forex Scalping Cheatsheets free just now! First practice on your Forex Demo Account. Learn Fibonacci Retracement. Why you need forex scalping? Most of the time markets are choppy and moving sideways with no clear direction. In such times short term trend trading or swing trading is not possible. Only thing possible is scalping and trying to make a few pips in each trade. Now such choppy market conditions can prevail from a few hours to days and even weeks. So you can now realize why every forex trader needs to learn how to do forex scalping. Forex scalping is a trading strategy that requires thorough understanding of the currency market before you can master it. Are you looking for valuable information about forex scalping? Read every word of this post and master forex scalping. One of the major reasons for the popularity of forex trading among the traders is the presence of different trading styles that can be applied. Those traders looking for very quick profits can adopt forex scalping strategies and tactics. You can range trade, you can trend trade, you can day trade, and you can swing trade and so on. Forex scalping has been and is a popular day trading strategy among many traders.
Now if you are a new trader, first practice on your demo account. Learn technical analysis and how to read the charts. There are a number of different charts that you can use in your trading plus each chart can have a different timeframe. Don’t trade live until and unless you are able to master a trading strategy. Use that trading strategy to double your demo account three times in a row only than think of trading live. The beginner trader should explore many of these trading styles and strategies by creating trading setups that are a combination of technical indicators and chart patterns to pinpoint conditions for a trade.
In forex scalping your aim should be to make 25-50 pips per trade by quick entry and exit into and out of the market. You must have also heard about Guerilla trading. In Guerilla Trading, the aim is to make only 10-15 pips per trade. Guerilla trading requires very quick reflexes and sharp entry and exit into the market. However, if you a new trader and do not have much experience of forex trading than Guerilla Trading is not for you but forex scalping is something that you can easily master even as a new trader. Forex scalping means trading frequent small moves instead of working for large moves! Forex Scalping is a method where you focus on the goal of taking profits quickly from the market and trading in a very limited time frame. Forex Scalping has the goal of a quick trade for small but leveraged profits.
Scalpers always look for quick profits. Scalping is best done when the markets are choppy or moving sideways. So you need to know the best times when the markets are moving sideways. It can be Friday when the trading desks in big institutions like the banks, corporations, hedge funds etc. close. Both the New York Market and the European market have closed. When you finish reading this post, download your Forex Scalping Cheatsheets and know the best times when to do forex scalping and the times when you should avoid forex scalping.