EA BUILDER offers Customized Auto-Trading (EAs) without any programming skills. EA Builder can also create simple MT4 indicators and that service is 100% free

Making Money by Scalping Forex


Making Money by Scalping Forex

Want to make regular money day in, day out trading forex? A forex scalping strategy might be right for you.

So what is scalping and how does it work? Forex scalpers get in and out of the market at the drop of a hat, they don’t chase big swings or trends, but rather seek to capitalize on the small intraday fluctuations that occur throughout the day in forex. In this quick look at forex scalping, we’ll discuss the options available to you when selecting a scalping strategy and the importance of trading with a low spread, true ECN broker like Vantage FX.

 

Forex Scalping Strategies

Forex Scalping StrategyIf you want to start scalping forex, you’re going to need to find a scalping strategy that works. With longer term trading, a strategy is not quite as important, but when it comes to scalping, the quality of your strategy will largely determine your success. When it comes to selecting a forex scalping strategy there are a couple of options available to you:

The first option is developing your own scalping strategy. Most longer-term strategies can be adapted for scalping with a little tweaking. For example, you could trade trendline breaks, candlestick patterns or use a range of technical indicators. Generally, you’ll want to be looking at 1m or 5m charts, though many people consider the 15M chart great for scalping too. The main thing to remember is you’re not usually going for high reward trades, the idea with scalping is to win more often than not, that is, if you have a choice between taking 2 pips and taking a loss, take the 2 pips.

A great way to start developing your own scalping strategy is to start playing around on a demo account, don’t worry about blowing the account, just focus on taking lots of quick trades and seeing what works and what doesn’t. 

Don’t want to develop your own forex strategy? Another option available to you is trading someone else’s strategy. Forex forums are a great place to start if you want to trade someone else’s strategy. Though most people keep their forex scalping secrets to themselves, there are a surprising number of helpful people out there who share strategies for free on forums. This approach requires a little less legwork, though you will still have to do a fair amount of research.

 

The Importance of a True ECN Broker

If you want to scalp the forex markets, it is essential you are trading on a true ECN account. Because you are looking to trade micro-movements in the forex markets, spreads really do matter. True ECN accounts let you trade liquid markets like EURUSD with spreads as low 0 pips, this means you can get in and out of the market with a few pips with relative easy.

Scalping becomes exponentially harder as the spread widens. Difficulty aside, the majority of traditional brokers don’t actually allow scalping, so if you want to make money scalping forex, you have to go with a true ECN forex broker.

 

 

A BUILDER -FREE FOR CREATING MT4/MT5 INDICATOR

 

 

Forex Scalping

FacebookTwitterDiggDeliciousStumbleuponGoogle BookmarksLinkedInPinterest

Fx Pros

Forex Professionals

"The Best Fx Professionals around the Net.. at FxPros.net"

Rebate Forex

Joining a Forex Trading Rebate means earning money from trading volumes.

Forex Trading Rebates

Rebates are considered better incentives than bonuses as they incur a long-term benefit for traders. More at Forex-Rebates.com

» Forex Trading Rebate Plans

Forex Robots List

Forex Robots Web-Sites

Forex Learning

They say that beauty lies in simplicity but this is not true when Trading Forex..

» More at Forex Trading Guide

» Technical Analysis Tools

Learn more..

» Forex Glossary

» FAQ for Forex Traders

» Choosing Forex Brokers

Forex Systems Reviews

Review Trading Systems:

» Forex X Code

» Forex Trendy

» TradeMiner Review

Review Expert Advisors:

» EA Builder (Custom EAs)

» Volatility Factor Review

Review Signal Providers:

» Traders Elite

» MBFX System

Forex Historical Statistics:

» General Statistics

» Market Volatility

» EUR/USD

Onlinefx Facebook

Go to top