Scalping In Forex Trading

in #forex3 years ago

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Hello steemit,

Today i am going to share you about most important thing about scalping strategy. We all love fast money and big money and scalping is very famous for it, People love to scalp and make money faster and also they love to play with bigger lot size to earn huge amount. Before i talk about scalping i must explain what is scalping strategy?, In scalping strategy we open and close the order within few ticks ( pips ) movement of the market. In this we do not target big pips, we just opne trade for 2-5 pips and close it whether in profit or loss.

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The fact is there are many trader who turned a small amount of capital into large from scalping strategy, sound interesting?, Same here even i felt it interesting and i started working on it and finally i entered into this strategy with very minimum capital. After a few successful trades i made one changes i increased my lot size and that is not an actual mistake because in scalping generally its good to play with big lot if you're sure about the trade.

After sometime i made a good percentage but as long as time passed it became very tough when the market became trendy and the scalping was getting tough for me at least and i found difficult to make profit so i took a break and realized that its good to scalp only on best opportunity and when the market is kinda ranging .

Well, i don't say that we cannot scalp on trendy market but we need to prepare for it because anytime market do change and we must check the market before we use our strategy because we cannot target 400-500 pips when market is ranging and we cannot scalp when market taking huge spikes on trendy market.

So the conclusion is, We must have backup plans and backup strategy to move according to market condition and this will surely gonna make us profit.

Thank you all

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I would like to add that even though scalping forex strategy, according to https://www.independentinvestor.com/forex/strategies/, is a good strategy, it's not as easy as some might assume. On top of it, scalping requires time and dedication and sticking to a plan.