Do you consider yourself as a scalp trader? If you do, there are some points you need to know about scalping. Today, we are going to discuss some tips and advices on how to do scalp trading. This technique is consider as an advance technique, it requires extensive market knowledge, and trading experience. So, scalping is not for newcomer especially those who still very new to the forex world.
First tip is, do not gamble the market, what I mean by this is if you not sure where to trade, wait. Because it is dangerous to go in to the market without any practical knowledge whatsoever, especially if you are a scalper (scalp trader), it is important to always remember that the market moves too fast for you to catch every possible opportunities. So, do not gamble the market by going in and out the market too fast.
Try to limit your daily trade. If you are trading too many in one day, you won’t be able to concentrate for long-term, and this is bad. Anyone who lose their concentration during trading, scalping in particular, will suffer significant loss. When the mind is exhausted, the bodies will follows, and when this happen, the best advice I can give you is take a rest, go to sleep, and come back when you are fresh.
Good tactic to do scalp trading is by find one currency pair that easy to scalp. The easiest one, I think is the Pound Yen pair because this pair is a very popular pair among the forex trader, and this pair has a very high volatile movement in the market. What makes it easy to trade this pair is that in every movement, the price moves deep in range. This gives us the window to enter the market every time we check out the pair.
If you would like to get profit from trading using scalp technique, you need to do this slowly and carefully. Get rich quick trading the currency market is really out of the question. There is no such thing as quick rich scheme in trading the forex market. That is why it is important to adjust the techniques, the trading time, the trading lots that can make everything simple for you.