The Trades Bible Guide to Forex Scalping

There are plenty of different ways that you can choose to use as the basis for any type of Forex trading strategy, and one way that may be of interest to you is something known as Forex Scalping.

However, this is a strategy that can and does take a lot to time and effort to master and it will not be suitable for all Forex traders.

If you are the type of trader that is prepared to allocate a large amount of time to both reaching with currency pairings to base your trades on and has plenty of time to place your trades this is certainly a strategy to learn more about.

In its most basic form Forex Scalping is a simply a trading strategy on which a trader will be looking to place a huge number of small valued Forex trades over any one given trading session on which they will be looking to make a small overall profits t the end of that trading session.

As such you will need to be able to quickly react and place your trades using either an online or mobile trading platform when you to a series of trades that are likely to result in a profit, and you then place multiple trades on those trading platforms as they become available.

By placing a huge number of trades but short terms ones, any trader using such a Forex Scalping strategy is limiting their exposure, but with a series of winning trades they will soon be able to make the profit goal they has aimed to make on that session.

1. Analysing Forex Scalping Opportunities

   With traders not having the times to often research the trades they are placing when using this type of trading strategy it can be something of a chaotic scene if you ever what a trading using such a strategy.

   For they will be frantically placing trades constantly over any given time period, which may look like a risky strategy to adopt, however being minimum value trades they do not pose too much risk due to the small amounts placed on them.

   You could in fact compare this type of strategy to a person who places multiple bets on a roulette wheels betting layout, for the more bets placed the more likely they are to have chosen the winning number that is spun in on that wheel.

2. Choosing a Forex Trading Platform

   One very import aspect to you adopting a Forex Scalping trading strategy is you having access to a trading platform that is very easy to use and navigate around and will allow you to place multiple trades quickly and with the minimum of effort.

   It is with that in mind we would suggest that when you first start trading Forex online or even in the mobile trading environment, you test out the trading platforms available at multiple different Forex Brokers.

   You will find that the vast majority of Forex Brokers are going to allow you to open up a demo trading account, and by doing so you can then have several trading sessions using the platforms offered by those Brokers but will be using demo trading credits instead of your own funds.

   By trying out several different trading platforms you will soon be able to make a judgment call on which platform you find easy to use and one that you would then like to utilize when trading for real money.

3. Short Term Trading Opportunities

   It will of course be very short term trades that you will be looking to place when adopting a Scalping Trading strategy and as such you are going to be best off choosing a Forex Broker that offers such trades to their clients.

   The 60 second trades available from many Brokers are the ones which are best suited to this type of trading strategy however it may also be beneficial for you to consider using one touch trading opportunities too.

   Just keep in mind that you should not spend any amount of time dwelling on trades that you are placed that are losing one’s when using a Forex Scalping trading strategy, instead simply put those trades down as a lose and continue to place very short term trades continuously in the hope they are the winning ones.

   Whilst it can take some time to master this type of Forex trading strategy due to the low value of your trade you are not going to require a huge trading budget to be able to put it into action.