Finding a trading strategy that fits you the best should be your primary goal if you are just starting out. With so many trading strategies out there, it is important to know that not every method is suitable for every trader. You simply have to test various strategies out and then make a final decision.
Forex scalping strategy is one of the trading styles you should look into since it is very dynamic and you will not be holding any long positions. In order to do scalping properly, you will be opening and closing a dozen or so positions on a daily basis, focusing your profit on small movement and measuring your success in pips. You will be trading more often so you have to be very knowledgeable when it comes to this strategy – diving heads first can make you lose the funds.
Should you start with the scalping strategy?
There are so many trading strategies for you to choose from, and zeroing in on the best Forex strategy might seem like an impossible task. What you need to ask yourself before you start scalping is whether you have enough time to spend on trading Forex. If you want to execute scalping properly, you have to be ready to place at least ten traders in a single trading day, and have plenty of time to analyze the market properly.
Also, scalping requires speed and making decisions right there on the spot. If you are unable to make up your mind quickly, scalping simply isn’t for you. However, if you are a fast thinker, very proficient when it comes to research, and you are willing to dedicate more than just a couple of hours to Forex trading, scalping strategy might be the right fit for you.
Since scalping is very popular within the trading community, the professional traders developed several scalping strategies in order to make scalping a lot easier. Yes, even if you have no previous experience in the market but you are very determined to succeed, you will be able to use scalping to your advantage.
1 minute scalping strategy
Hands down, 1 minute scalping strategy is very likely the most popular method of trading out there. It might be the best Forex strategy for newbies as well. As the name tells, 1 minute scalping strategy relies on a timeframe of a single minute. A trader is supposed to analyze the chart in that minute, apply the indicators, and make a decision. It is recommended that you use 1 minute scalping strategy with the major currency pairs due to their liquidity.
If you are still uncertain how scalping works, out advice is that you try it out on a demo account. After all, demo accounts are created for you to learn and test out the trading strategies. Scalping is surely very dynamic and you will practice your determination, as well as the ability to think fast and make decisions on the spot. It is a very intriguing FX trading strategy and maybe it is the right fit for you.