Scalping

Scalping is like those high action thriller movies that keep you on the edge of your seat. It's fast paced, exciting, and mind-rattling all at once. These types of trades are usually only held onto for a few seconds to a few minutes at the most! The main objective for scalpers is to grab very small amounts of pips as many times as they can throughout the busiest times of the day.

Because scalpers basically have to be glued to the charts, it is best suited for those who can spend several hours of undivided attention to their trading.

It requires intense focus and quick thinking to be successful. Check out this post by our regular psychologist, Dr. Pipslow, on how to to work on your concentration skills.

It is not for those looking to make big wins all the time, but rather for those who like raking in small profits over the long run to make an overall profit.

You might be a scalper if

  • You like fast trading and excitement
  • You don't mind being focused on your charts for several hours at a time
  • You are an impatient person who doesn't like to wait for long trades
  • You can think fast and change market bias, or direction, quickly
  • You have fast fingers
  • You are a surgeon!
  • You know that the odds are in your favor, and not worried about some losing streak.
  • You have a nice leverage on your account
  • You are pretty good at technical analysis and price action

You might NOT be a scalper if

  • You easily get stressed in fast moving environments
  • You can't commit several hours of undivided attention to your charts
  • You'd rather make fewer trades with higher profit gains
  • You like taking your time to analyze the overall picture of the market

Scalping could be very profitable method of trading, but most people is not able to work with it. You need to be very focused for long time and don't fall by your emotions, thus it is not a very good method for new traders, and also it is best traded by automatic system like an expert advisor.

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