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Forex scalping strategy that you must follow


forex scalping strategy that you must follow

In a ranging market scalpers will buy or sell, and wait until the price comes back to where it left, and keep gathering small profits until the prevailing range pattern is eliminated. You cannot take your eye off the ball when you are trying to scalp a small move, such as five pips at a time. Placing an order at a certain level and having it executed a few pips away from where you intended, is called " slippage." As a scalper you cannot afford slippage in addition to the spread, so you must make sure your order can and will. In the end, the strategy has to match not only your personality, but also your trading style and abilities. Stop-losses are arranged around 2-3 pips just below the last low point of a particular swing.

Scalping is very fast-paced. So is scalping suitable for you? Employing leverage could worsen losses but it can also yield significant profits depending on the leverage. It can be difficult to scalp and maintain a good risk/reward ratio. If the price at which you plan to fill the order is close to the EMA indicators and Stochastic rises above the 20 level, open a long position. You must pay attention to how much margin is required and what the broker will do if positions go against you, which might even mean an automatic liquidation of your account if you are too highly leveraged.

Read the small print. The 100 percent extension level, for instance, provided a support which prevented the price from falling through twice, as observed. The main goal of scalping is to make a profit through purchasing or selling currencies by holding a position for a very short period of time and closing it for a small profit. The 1-minute scalping strategy The basic idea behind scalping is opening a large number of trades that usually last either seconds or minutes. It is important to note, however, that the forex scalper usually requires a larger deposit, to be able to handle the amount leverage he or she must take on to make the short and small trades worthwhile. To discover the trend, set up a weekly and a daily time chart and insert trend lines, Fibonacci levels and moving averages. Scalpers are rewarded for quantitative work the more Forex scalping they perform, the bigger the profit they make.

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