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Forex scalping system consists of several strategies that allow the trader to execute many trades during the day where each trade is limited to small profit or loss. Throughout the day, this system is expected to secure enough winning trades to cover the loss trades and give adequate profits for the trader. Due to the low capital requirement and the quick profit potential, this method has attracted many new traders whose funds are very limited. Normally, I won’t suggest any novice trader to use forex scalping system because it possesses high risks and low winning probability. Ask this to yourself: “Are you sure that you can score winning trades again and again against the volatile forex market when you just learned forex trading?”. Of course not; that’s why it is better to leave scalping to a pro trader or tireless forex EA. But if you really interested in scalping as manual trader, try this method: You’ll see very little movement in the market as the time approach 8:00 AM EST, but after 8:00 AM, it will start the first move. At 8:00 EST in the morning, check your 7:00 AM EST candlestick chart (1 hour timeframe) and place two buy/sell orders: above and below the last candle’s high and low at 8:00 AM. If the high and low prices are too wide, you should put 5-10 pips Stop Loss; but otherwise, set the two orders to "one cancels other" should be enough. As the New York market open, aim for 4-5 pips profits, then get out as soon as possible. Note that this strategy relies on morning breakout, so it will performs better if a major news announcement is due within the upcoming NY market time as the news will increase breakout probability. Forex scalping system that doable for a human trader usually aim for specific time when there are higher chances to gain profits from the market (like the one above), but a scalper EA can watch the market on multiple currency pairs throughout the day for profit opportunities. That is why I recommend every manual trader to stick to long-term trading strategies (read forex trading tips to understand five rules that you should prioritize in manual trading) and let an EA deal with the short-term one. Read the details of the most recommended scalper EA at FAP Turbo review.
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forex scalping system, forex trading strategies,
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