Scalping Forex: Morning Breakouts

To a teenager, a morning breakout can be a terrible, terrible thing but, to a trader who likes scalping forex, it means profit and we all love a little profit, don’t we :D

Ed’s advising that you can make some decent dosh by placing 2 orders, above and below the last japanese candle’s high and low at 08h00 EST.

You generally want to do this with the GBP/USD and EUR/USD pairs. I don’t know about you but they’re my favourites :)

Read on here for some more scalping forex help from Ed on morning breakouts:
http://forex-strategies-revealed.com/system-morningbreakouts

Published on 20 Aug 2008 in scalping forex, by admin

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Scalping Forex: Tips from Pros

So, here we go, more badly written info on scalping forex. Thing is, these guys know what they’re talking about! And from all my research into forex, I’ve found that it’s mainly 3rd world countries like Nigeria and the Philippines that are interested in forex so we’ll just have to forgive the English ;)

The article covers about 8 tips to help you in your scalping quest PLUS an example that shows how to scalp profitably, while keeping your spread charges in mind.

First off, high leverage is recommended. You also need to decide on the trading lot sizes you’ll be using so do some calculations to see if you can survive 10 bad trades and still have something left to trade with afterwards! It’s unlikely to happen but Murphy lives on, so rather play it safe.

The time you trade at counts. The forex markets are continuously moving but you do get times when the movements are so minute, you might as well be watching paint dry! Focus on watching the London, New York, Sydney and Tokyo sessions.

You really need to focus when you’re scalping forex. It’s a simple trade-off: Focus or lose. I recommend you focus ;)

Check out the remaining tips in the full article here:
http://forex-strategies-revealed.com/scalping-tips

Published on 16 Aug 2008 in scalping forex, by admin

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Scalping Forex: Economic News Releases

I’m beginning to like this Edward guy. He’s scalping forex tips are sneaky, very, very sneaky :)

He recommends that you wait for economic news that’s expected to really shake up the market. Then find out which currency-pair is going to be affected and, here comes the good part…

Just 15 minutes before the news is released, Ed suggests that you place buy/sell stop orders on both sides, 15 pips away from the current price. 30 minutes prior to the news, it’s usually dead so 15 is the number. The number is 15 ;)   (Sad Monty Python joke there, sorry!)

Once the news is released, things are going to fly and you’ll be able to make big bucks real quick. Be prepared to close trades quickly for some really tidy scalping forex profits.

There were some great Q and A in the comments section of this “scalping forex” article. Go check it out!
http://forex-strategies-revealed.com/system-economicnews

Published on 14 Aug 2008 in scalping forex, by admin

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Scalping Forex

I just read a good (although badly written ;)) explanation of what scalping forex really is.

Essentially, it’s also known as quick-trading and describes trades that only last for a matter of seconds. If the trade goes over a minute, it’s no longer called scalping any more! That’s just plain ole day-trading!

The idea behind scalping forex is to make quick profits on accounts with large balances. For example, with a trading position of 100,000 units on a EUR/USD trade, each pip gained is worth $10. Not bad for a few seconds of work ;)

Most brokers don’t like scalpers as, if the scalpers always win, the broker would definitely lose. The only exception here would be if the broker employed a fully automated platform with no intervention between you, the trader, and the market itself. That way, there’d be no need for them to countertrade each order to prevent losses.

Yup, scalping forex gets tricky but, hey, that’s what leveraging big money is all about ;)

Read the full article here:
http://forex-strategies-revealed.com/forex-scalping

Published on 12 Aug 2008 in forex, by admin

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