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Thread: Scalping

  1. #1
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    Default Scalping

    Scalping is like those high action thriller movies that keep you on the edge of your seat. Itís fast paced, exciting, and mind-rattling all at once. These types of trades are usually only held onto for a few seconds to a few minutes at the most! The main objective for forex scalpers is to grab very small amounts of pips as many times as they can throughout the busiest times of the day.

    Because scalpers basically have to be glued to the charts, it is best suited for those who can spend several hours of undivided attention to their trading.

    It requires intense focus and quick thinking to be successful. Check out this post by our regular psychologist, Dr. Pipslow, on how to to work on your concentration skills.

    It is not for those looking to make big wins all the time, but rather for those who like raking in small profits over the long run to make an overall profit.

    You might be a forex scalper if:

    You like fast trading and excitement
    You donít mind being focused on your charts for several hours at a time
    You are an impatient person who doesnít like to wait for long trades
    You can think fast and change bias, or direction, quickly
    You have fast fingers (put those Starcraft 2 skills to work!)
    You are a surgeon!

    You might NOT be a forex scalper if:

    You easily get stressed in fast moving environments
    You canít commit several hours of undivided attention to your charts
    Youíd rather make fewer trades with higher profit gains
    You like taking your time to analyze the overall picture of the market

    Some things to consider if you decide to scalp:

    Trade only the most liquid pairs


    Pairs such as the EUR/USD, GBP/USD, USD/CHF, and USD/JPY offer the tightest spreads because they tend to have the highest trading volume. You want your spreads to be as tight as possible since you will be entering the market frequently.

    Trade only during the busiest times of the day

    The most liquid times of the day are during the session overlaps. This is from 2:00 am to 4:00 am and from 8:00 am to 12:00 noon Eastern Time (EST).

    Make sure to account for the spread

    Because you enter the market frequently, spreads will be a big factor in your overall profit. Be sure your targets are at least double your spread so that you can account for the times the market moves against you.

    Try focusing on one pair first

    Scalping is very intense and if you can put all your energy in one pair, youíll have a better chance at being successful. If you start to get accustomed to the pace of things, then you can start by adding on another pair and see how it works for you.

    Make sure you follow good money management

    This goes for any type of trading, but since you are making so many trades within a day it is especially important that you are sticking to risk management practices.

    Major news reports can throw you off

    Because of slippage and high volatility, trading around highly anticipated news reports can be very dangerous. It sucks when you unexpectedly see price jump in the opposite direction of your trade because of a news report! Be prepared and know whatís coming out by checking out the BabyPips.com economic calendar.

  2. #2
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    Forex scalping is a currency trading strategy used on short time frames, such as one to 5-minute charts, with quick buy/sell transactions that extract between 2 to 15 pips from the session. These quick transactions are often executed with larger lot sizes so that the smaller amounts of pips scalped will still lead to high profit margins.

  3. #3
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    scalping is a trading technique where we open and close the trade quickly. by scalping then we can make a profit in a short time. but we need to be careful when scalping, we can not scalping exceed the limit of our ability

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    As for scalping, you need to choose a broker that allows trade in such a way first. The second essential condition is order execution speed, it should be as fast as possible. The third one is tight spreads. For instance, FreshForex is suited all these conditions quite OK.

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    Yep, fresh forex has launched new ECN account recrently, so this account provide the fastest speed of execution. If you like scalping, you had better open ecn account.

  6. #6
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    One biggest requirement to do scalping in trading : You should FOCUS to those candles. If you lose your focus in the middle of your scalping strategies, you might lose your chance to gain some profits.

  7. #7
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    Quote Originally Posted by Samuray View Post
    Yep, fresh forex has launched new ECN account recrently, so this account provide the fastest speed of execution. If you like scalping, you had better open ecn account.
    I'm currently trading on this ECN account from FreshForex. I trade EURUSD with 0 spread and I'm quite satisfied with it: order execution is fast.

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change, eur, eur/usd, forex, gbp, high, hours, how to, main, money, news, offer, pairs, pips, scalping, slippage, trading, trading volume, usd, volatility

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