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Scalping the forex market
All the ins and outs on scalping the Forex market. May Chris dives into the world of Scalping where he explains in great detail how this style of trading can be accomplished in the Forex market. This live webinar not only clarifies how a trader can scalp but also provides every Forex trader with a great guidance and extra tips.
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2014.03.07 09:08
Who Can Trade a Scalping Strategy? (based on dailyfx article)
The term scalping elicits different preconceived connotations to different traders. Despite what you may already think, scalping can be a viable short term trading methodology for anyone. So today we will look at what exactly is scalping, and who can be successful with a scalping based strategy.
What is a Scalper?
So you’re interested in scalping? A Forex scalper is considered anyone that takes one or more positions throughout a trading day. Normally these positions are based around short term market fluctuations as price gathers momentum during a particular trading session. Scalpers look to enter the market, and preferably exit positions prior to the market close.
Normally scalpers employ technical trading strategies utilizing short term support and resistance levels for entries. While normally fundamentals don’t factor into a scalpers trading plan, it is important to keep an eye on the economic calendar to see when news may increase the market’s volatility.
High Frequency Trading
There is a strong misconception that all scalpers are high frequency traders. So how many trades a day does it take to be considered a scalper? Even though high frequency traders ARE scalpers, in order for you to qualify as a scalper you only need to take 1 position a day! That is one of the benefits of scalping. You can trade as much or as little as you like within a giving trading period.
This also falls in line with one of the benefits of the Forex market. Due to the 24Hr trading structure of Forex, you can scalp the market at your convenience. Take advantage of the quiet Asia trading session, or the volatile New York – London overlap. Trade as much or as little as you like. As a scalper the choice is ultimately yours to make!
Risks
There are always risks associated with trading. Whether you are a short term, long term, or any kind of trader in between any time you open a position you should work on managing your risk. This is especially true for scalpers. If the market moves against you suddenly due to news or another factor, you need to have a plan of action for limiting your losses.
There are other misconceptions that scalpers are very aggressive traders prone to large losses. One way to help combat this is to make scalping a mechanical process. This means that all of your decisions regarding entries, exits, trade size, leverage and other factors should be written down and finalized before approaching the charts. Most scalpers look to risk 1% or even less of their account balance on any one position taken!
Who can Scalp?
So this brings us to the final question. Who can be a scalper? The answer is anyone with the dedication to develop a trading strategy and the time to implement that strategy on any given trading day.
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Chart Patterns & Trend Action for Forex, CFD and Stock Trading
Learn how to read patterns in your trading trading charts and to understand what they are trying to tell you. Trend patterns and chart patterns such as rectangles, head and shoulders, triangles are the ultimate key to price action. Breakouts, Reversals and Continuation of trends will also help forecast the markets.
How to Use Your iPad as a Laptop Second Monitor for Forex Trading
This video will show you a great way to get a laptop second monitor for your Forex trading, by using something you probably have anyway...an iPad. Just by buying a simple iOS app for about $15, you can turn your iPad into an external monitor and run any Mac or PC application on the second screen. This can help reduce what you travel with, while giving you some extra screen real estate, which is helpful for doing work, trading multiple markets and more.
Perfecting Trade Exit Strategies
Trade exit strategies form the part of your trading plan that help your profit management. Buying the correct stock and the correct number of stocks is all to no avail if you do not know when to exit a position. In fact, having a definitive exit strategy is as important as defining your entry.
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The threads on the forum :
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Videos :
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Articles :
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Exponential Moving Average (EMA) Investment Strategy
Forex Trading Strategy Using Exponential Moving Average Indicator (EMA 5, 15, 60) 1/3
The Best Of Heiken Ashi Forex Trading Strategy
Part 1 of 3
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Heiken Ashi indicators
Heiken Ashi documentation
The Best Of Heiken Ashi Forex Trading Strategy
Part 2 of 3
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Trading systems based in Heiken_Ashi
Heiken Ashi EAs
The Article
The Best Of Heiken Ashi Forex Trading Strategy
Part 3 of 3
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4 time frame heiken ashi smothed- for-Symbol indicator is on this post. It is Heiken Ashi indicator and this is a version in which you can choose symbols.