Such a popular Forex strategy like scalping is a very quick closing of the order as soon as it will get at least a small profit (about 10 points). Market professionals call the scalping strategy forex rather high profitable, which allows the trader to practice dozens and hundreds of trades a day, keeping the position open from 10 seconds to 5 minutes.
Distinctive feature of scalping
Scalping is fundamentally different from other Forex trading strategies by the fact that it allows to profit from a lot of short-term transactions during the day at very small market movements.
Why is it so popular?
Scalping Forex strategy is considered to be the safest trading method. This is cos the scalper holds a position that is open for a very short period of time, so the market has less effect on the transaction and therefore the risk of loss is extremely low.
The portrait of scalper
What traders can win on scalping forex strategy?First of all, we have to keep in mind that there are no universal profit strategies that suit every trader. Scalping is something you’ll like, given its features:
- Scalpers try not to risk much, so they go into the deal less profitable but frequent and safe.
- Scalper makes a small profit, but the income comes from many transactions.
- Scalpers are patient very attentive people in common! After all, it’s quiet necessary to precisely look after tens deals a day.
Consider the best strategies for forex scalping:
- Automatic systems (advisors). Since scalping is a very labor-intensive activity, “advisor” can replace the trader at the computer. Choosing an automatic program, it is necessary to thoroughly familiarize with its peculiarities and to test its effectiveness.
- Your own robot. When a trader has accumulated enough experience, he creates his own trading strategies for scalping. This will save time and improve the efficiency of the use of automatic “advisor”. At the same time, part of the commands can be executed by automatic program, and some — by the trader himself.
Winning scalping Forex strategy
When choosing as a scalping strategy for you need to keep in mind:
- Choose the right broker. Since not all brokers offer good conditions for scalping.
- Choose the right currency pair, for not all are well fit scalping.
- Choose the right time for scalping.
Not every trader can conquer scalping strategy, but knowledge and experience will help you to make profit on short-term deals.