This scalping strategy aims to make the most immediate profits in the trading market. Or ‘Let Luck a bit but often’. Scalping is aimed at stealing profits within a small pips range of 5-10 pips only. And later with combined with the money management traders outsmart by raising the lot, so that will still be obtained in real money / big dollar. Traders who use forex scalping strategies are often known as scalpers.
Most forex traders trade by waiting in a long time to earn a large profit pips, 30/50/100 pips. However Scalpers differ in the advantages of small pips in a few seconds / minute, with a lot of trading on the same day. Scalper thinks better to close the situation even though the profit is still a little, rather than linger in the open position and wait for market movements that are not erratic. Viewed from this model then scalping is included in the trading strategy class for short or short term.
Scalpers require high precision and concentration to gain profit in the fast-moving forex market. So this technique can not be done during office hours or when traders are busy.
Advantages of Scalping
- No need to take a long time because it can be done in minutes.
- Do not worry because there is still an open position.
- Pursuing a small pips target is relatively easier.
THREE TYPES OF USED SCALPING
In the journey there are three kinds of scalping commonly used by traders
First of all, often called market making, here a scalping really use the name of the spread by entering buy and sell for a pair of currency simultaneously to pursue a breakout of each.
This strategy will only succeed in a currency that moves with enormous volatility. This strategy is even though it is possible to do and can get considerable results, but in reality this kind of technique is very difficult to do and requires the right trading instinct to determine the breakout point and determine which positions to release in order to pursue a breakout so that it can bring profit.
Secondly, a scalper will enter into a market that moves very fast with a very high intensity tik that makes a very high quantity. Is it possible to lose in this technique? Very probable, but with the quantity of trading quantities made then the losses incurred can be covered.
This technique is actually not difficult, it only takes a few small time frames and requires an excellent stamina in order to keep reading the chart correctly.
Third, is the traditional scalping method whereby a trader enters the market with multiple positions and immediately closes the position when getting an exit signal. The profit and loss ratio in this system is 1: 1 as described above.
This scalping technique is very profitable for those who can decide when to enter and exit the market quickly and use it as part of their trading strategy. One to be aware of this technique, a scalper must be disciplined before being able to do this trading technique.
The most common mistake of this system is, a scalper can not tolerate losses and tend to wait for losses into profits. Yet it could be greater losses. At the same time when deciding to cover the losses and immediately open a reversed position, there is a possibility that the loss is widened to become an advantage.
So the key is discipline.Instant Download
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