Gracewilson1995 posted: Hearing this term for the first timee.
Forex scalping is a trading style used by forex traders to buy or sell a currency pair and then hold it for a short period of time in an attempt to make a profit. A forex scalper looks to make a large number of trades, taking advantage of the small price movements which are common throughout the day.
Raywilkins665 posted: I don’t think scalping is for everybody. It is risky and you should have the right temperament to make it work for you. You must be able to sit in front of your computer for the entire session while intensely concentrating on everything that is happening. Sometimes, you may not even be able to take your eye off the ball.
That’s so true! After trading constantly for some time, I decided to scalp. That’s when I realized that it requires a lot more than just sitting in front of the computer. Many times, I needed to react very quickly without getting enough time to analyze my moves. There’s literally no time to think. Over months of scalping, I even learnt to put a stop before the sl value was reached. This even when it moved against me so much as two or three pips.
When you are trying to become a scalper, you will be required to have very good, reliable access to the market makers. You will also need a trading platform that allows you to buy and sell currency pairs quickly and easily, because the execution may take place in a fraction of a second.
Hey Philip, If you want to open a long entry based on the 1 minute scalping strategy, wait for the 50 period EMA to cross over the 100 period EMA. I have seen that this helps the stochastic indicator to pull back and return from the overbought market condition.
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