Forex scalping is a very good way to earn some money quickly from forex trading. There are so many techniques are available in the market for forex scalping here
23 May 2021 01:45 AM
Forex scalping is a very good way to earn some money quickly from forex trading. There are so many techniques are available in the market for forex scalping here, we are going to expose the two most popular and easiest ways of scalping. The first one is the 1-Minute strategy, and another one is a 5-Minute strategy. These two techniques are the most useable and easy strategy in the live forex market. If you are looking to be a scalper, you should start with any of them.
The best way to get experience with these techniques in Demo forex trading is to do experiments as you want without risking your real money. Let's start with the 1-Minutes strategy.
If you are new to scalping, you should start with this because the pros recommend this strategy for beginners. A lot of forex trading schools also recommend this strategy when a trader starts scalping. Basically, you can earn five pips/trade, which means you can earn profits every minute you want. You can place 100 different trades in a single day that mins you can win up to 500 pips a day which is a really good amount for a beginner. To trade with this strategy, you have to choose London and New York time frame to get the best output.
Most traders use a 1-Minute chart time frame in the trading software to get the best result. A trader can set the Stochastic Oscillator to 5,3,3 within the EMA movements for 50 and 100. The 1-Minute chart indicator will send you the trading signal. To open a trade, you must wait for a 50-EMA cross above the 100 EMA for the best profit.
Basically, the 5-Minutes strategy is used to target ten pips profit per trade. Professional scalpers set the MACD at 12,26,9 and 50 EMA to 100 EMA while using this strategy. Most of the pro scalpers wait for the crossing of both EMAs. When the price is broken above the 50 EMA by ten pips or more, then MACD crosses to positive the last five bars that means you can open a long position. On the other hand, you must follow the opposite thing of the trades for the short-time trades. To start the trade, you should use the initial stop at 5 bars low from the entry.
Although scalping is profitable for traders, it is also risky. If you can't understand it properly, you will lose your trades, gather a whole idea about it then start scalping for long time success.