A pure Forex scalper exits a position quickly, if not for the market on his way. Will make a series of transactions per day from 10 to several hundred, and not keep it to lose a position to hope or pray that they will repent!
The main goal of Forex scalper is to buy (or sell) a particular couple, evaluate the offer (or ask) price and then quickly sell them a few pips higher (or lower) for a profit. If the Forex scalpers use this strategy, even small gainseasily combined major gains if a strict exit strategy is used to prevent the accumulation of huge losses.
Most forex scalper usually makes use of 1 min, 5 min or graphs schedules scalp small profits in the Forex market. Most of the Forex scalper is good for a brokerage firm that a reliable platform with immediate execution of orders, which are essential in large part made for its profits.
I had the good fortune to know and work with some of the best days for the dealer, the scalplive. You with me some of the main ingredients they use to divide the scalp of the market.
This article will present the strategy of scalping, which I incubated summarized in 8 steps;
1. Step
For http://www.forexfactory.com important to verify the data release time
2. Step
Register the day before OHLC (Open, High, Low, Close)
for all 4 major currencies in your diary.
3. Step
Identify studies Candlestick (I will show no furtherTime) in the daily standings
4. Step
Identify key trends, support and resistance charts daily
5. Step
Determine the mood in the market (bullish or bearish?) For the day.
6. Step
For the classifications of time and determine the support and resistance
7. Step
Search by candlelight (there will be more in our next article, talk) training on an hourly basis.
* For the signal reversal candlestick;
- Waiting for a better signal or staggered yourLose
- Enter only near support or resistance line
8. Step
Adjust the entry level of risk, if you 10PIPS money.
* Scalping risk: reward ratio
Risk 10PIPS
Profit Target: 20pips
I hope you have received my summary above, the stairs to the scalp of the Forex market. In my next article I will give more importance to the Japanese Studies Candlestick.