4 Amazing Tips To Become A Scalper


Scalping is one of the easiest ways to secure big profits. The new traders are always pushing themselves to the edge to earn more money. They want to make a profit like the skilled Aussie traders without giving the effort. You must educate yourself and use the demo account before you even expect to protect your capital. Trading the currency pairs or stock market is not so easy. When it comes to scalping strategy you should be more careful since you have to filter the false signals. Though there are many ways to improve your execution process, let’s discuss the top 4 steps used by the scalpers. 

These are –
1.     Multiple time frame analysis
2.     Fibonacci trading strategy
3.     100 day SMA trading
4.     Chart pattern trading

1.Multiple time frame analysis

We all know the lower time frame generates too many false signals. If you want to make a consistent profit, you must learn to study the different time frame data. Studying the different time frames gives you a better scope to filter the false signals. For instance, you might find a reliable bullish price action signals in the 1 minute time frame. But if you study the 1 hour and 4-hour time frame you might find bearish price action signal. So, it’s very obvious the 1-minute time frame is giving you false signals. So ignore the lower period signal and wait for the next trade. Studying the different time frame gives you more profit-taking opportunity. It increases the win ratio of the scalpers.

2. Fibonacci trading strategy

You need to use the Fibonacci trading strategy to scalp the market. Options trading business is more like dealing with the stock market. You have to very careful with the trade execution process or else it will be hard to make a big profit. Instead of trading the different retracement levels, look for the 50% and 61.8% retracement zone. If you can trade the market on this level, you can change your life within a year. Though trading is more like finding the perfect trades, still you need to be prepared for the worst-case scenario. IF you want to make consistent profit by using the Fibonacci trading strategy, scalp the important levels only.

3. 100 day SMA trading

Using the 100 day SMA to scalp the market gives you more profit-taking the opportunity. The 100 day SMA provides perfect support and resistance level in the major pairs. So, if you set pending orders at the 100 days SMA, you can make a consistent profit. Never try to make more money by switching it the 1 hour or lower time frame. You need to use the 100 days SMA in the 4-hour time frame to the scalp. Some of the traders often use the trailing stop loss features to maximize the profit factors. But for that, you must learn about the candlestick pattern strategy.

4. Chart pattern trading strategy

You need to learn about chart pattern trading strategy to earn more money. But the new traders might not understand how the chart pattern trading strategy can be used to scalp the market. If you start looking for the major chart pattern in the 1-minute time frame, you can expect to make a decent profit. Taking too much risk in each trade is not scalping. Taking a managed risk and looking for big gains is the actions of the professional scalpers. Learn to act as the professional scalpers to change your life. Never try to become an aggressive trader as it increases the risk exposure to a great extent. Focus on rational logic and try to improve your skills.

Conclusion

Trading the Forex market is more like dealing with the most complicated industry. If you want to become a professional scalper, make sure you follow these steps. By following the tips of this article, you can expect to become a pro scalper in less than a year. But never forget, losing trades will be very common in the scalping method.

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For The First Timer - Business, Startups, Health, Parenting, Lifestyle, Travel and more: 4 Amazing Tips To Become A Scalper
4 Amazing Tips To Become A Scalper
Though there are many ways to improve your execution process, let’s discuss the top 4 steps used by the scalpers.
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