Forex Education Center/ Part 21 / FOREX FOR BEGINNERS COURSE / Lesson 2. What is scalping

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Welcome to the Forex for Beginners course.
As a reminder the course is aimed for complete beginners.
I tried to keep the lessons short and to the point giving out clear examples and videos where required.

Lesson 2. What is scalping:
In this tutorial we give a brief overview of what is scalping, how can you trade it and what is expected from you as a scalper.

Scalping is a type of trading strategy that the main objective for the trader is to capture some quick profits in a trade.

Normally profit can vary from 5 – 10 pips per trade, which personally it is quite little.

But if it is done repeatedly a couple of times by carrying a number of successful trades, the pips sum up to a respectful amount per day.

The intention of the scalping trader is to leave the trade open for few minutes for quick profits.

Stop losses are also set tight.

Mostly used charts are the 1 and / or 5 minutes time frames.

Speed, quick thinking and no room for errors are desired skills needed by a trader to scalp the market.

Furthermore, scalping traders use high leverage and trade with more than 0.5 lots.

Two or three good trades even of 5 pips are enough for the day.

Tip – Brokers
Some brokers do not like the idea of opening a trade for less than a minute.

If you scalp the market repeatedly you will get banned by the broker.

So it is wise to check with your broker whether scalpers are welcomed.

Also professional traders do not think that scalping is the way to make money in the market.

If you think that scalping fits your trading style and personality, just go for it and make sure to find a reliable broker with tight spread!

Below you can find the list with all the posts of Forex Education Center:

Part 01 / Live Vs. Demo Trading Accounts

Part 02 / Slippage

Part 03 / ECN Market

Part 04 / What Makes a Successful Price ActionTrader 

Part 05 / The Manual of the Forex Art of War

Part 06 / The Don’ts when you Compare Forex Brokers

Part 07 / What is behind Currency Pair Trading

Part 08 / Banks: Beacons of Fraud

Part 09 / Win With CFD’s

Part 10 / Fight and Win the Bulls and Bears

Part 11 / How to Spot a Forex Trading Fraud

Part 12 /  Become a Master with News Trading

Part 13 / The Forex Risk Management State of Mind

Part 14 / Top 10 Forex Trading Tips for Beginners – The Road to Success

Part 15 / Trader’s Strategy Checklist

Part 16 / E Currency Trading

Part 17 / E CURRENCY TRADING MAP

Part 18 / FOREX TRADING TUTORIALS

Part 19 / FOREX TRADING COURSES

Part 20 / FOREX FOR BEGINNERS COURSE / Lesson 1. Trading Currency Pairs

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Thanks For Reading,
@lordoftruth
Samer