First, what is “Scalp Trading?” In its simplest form, it is making lots of small trades looking to make just a few pips here and there. A pure scalp trader is not concerned with trends and does not stay in any trade for very long. A scalp trader only stays in any trade long enough just to make a few pips or whatever dollar amount they are looking for and then they are out.
The upsides to this form of trading are:
- limited risk due to diminished exposure to sudden market movements
- easier to make a profit since small moves are easier to capture
- small moves occur all the time so trading opportunities are many
The downsides to scalp trading are:
- they pay a lot of “commission” pips
- they must account for the pip spread on every trade
- one bad trade left too long can wipe out all earnings
- must be in front of the computer all the time to execute trades
As you can see, being a scalp trader is A LOT of work! Here’s where Forex Bling can help and actually thrive. One of the EA’s or robots that are part of the system is optimized for scalp trading. See that last part where a scalp trader must stay in front of the computer to trade?
Not with Forex Bling! This EA (robot) will constantly monitor the markets scanning them all the time for the right conditions for scalp trading to be successful. Usually this is when markets are not trending but are moving sideways in a range. As forex traders know, markets are moving sideways most of the time. In fact, almost 60% of the time,…