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HOW TO SCALP IN THE FOREX MARKET

 

scalp-150x150 HOW TO SCALP IN THE FOREX MARKET

 

 

 

 

 

Traders who would prefer to scalp the forex market instead of using traditional, long term trading, although not all. They  prefer a situation where they could jump in and out of the market several times, instead of having adopting a traditional “buy and hold” strategy.  There is nothing wrong with having this kind of philosophy, it all depend on your ability to stick to your scalping strategy without being greedy, scalping strategy involves a very strong discipline.  You must really have to be convince why you are taking a particular trade, fully convince that the odds will be in your favour. You should  know what you are doing before you take that first trade.

When you adopt scalping as your strategy in trading the forex market,before you take a trade you have to know where the trend is and how to trade with it. If you don’t trade with the trend, you are basically swimming against the waves on a beach. You might eventually get to where you need to go, but you are only making it very difficult for yourself. That is why identifying the trend is the first step you take, when considering scalping strategy.

For you to spot the right trend to scalp the forex market, you don’t need an indicator to get that done for you, you just need to see the direction the trend is going with a strong Data backing such trend. Trading with the trend can be seen with your naked eye.  You can just look at a chart and know where the trend has been and where it’s headed. When the price action is moving in a particular direction consistently you know that a trend has been form so it is wise to scalp. and you must not be greedy in taking your profit. You must stick to your trading plan. You may say how do i do this? very simple just go your trading platform, pick a currency you want trade. The direction the candlestick or bar chart you using is moving is the trend.

featured image is from google image.

Article Source: http://EzineArticles.com

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