Category: Forex Broker

Submitted by: Robert Corter

“Forex” scalping is a process of opening and liquidating position in a short period of time. That time frame is usually around 3 to 5 minute but some only maintain the position for as little as one minute.

The process of scalping is usually in small positions. The risk of larger positions is not common among scalping. Most scalpers will stay with the opportunity to gleam smaller profit but on frequent gains. The process takes someone who is patient, watchful yet diligent in following the process over and over through the trading session.

The goal of scalpers is not a major profit but several small profits over time. Risk using this strategy is minimal and the chance to make a profit over several combined closed options is what is being sought. This is a fast paced trade and the trader needs to stay alert. In some ways this is viewed as safe trading style. It is interesting to note that some scalpers open and close over a hundred positions in the course of a trading day, other are more moderate ten options maybe more. It doesn’t take a lot of knowledge to be a successful forex scalper but you need to be attentive, stay focused and have a commitment to the process. The process is laborious and tedious but can even be fun once you’re comfortable with the process.

Using automated trading systems

Some scalpers spend 5-6 hours a day working the process of open and closing options. This to most of us who are neither familiar with the process nor dedicated would be looking for either something else or a better way. There are automating traded system which claims they have dealt with the time issues. Unless you are familiar with the process it is best not to blindly trust software making such claims. If however you have developed the process you may find that you might have discovered a way to shorten the time you dedicate to trading. You can use automated forex scalping and allow the system to automate the stop-loss and take-profit and you will handle the calculations and analysis. It may work for you. If you want to know more about this topic, you can read the tips and guide below.

Most scalpers recommend consistency and maintaining a safe limit on the options. The law of averages they claim that the law of average will wipe out your profits. The basic principle to scalping is profitable trades will cover the losses in due time, but a hunch or large loss can wipe out a lot of hard work.

The process sounds like a life lessons where in order to win at the game, you must be a player. In order to win you must be consistent, stay in line and follow through. Part of the automated trading systems purpose is to remove the emotional factor from the trading process. Being consistent in each step of a being a scalper in Forex is a key to being a successful scalper.

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Submitted by: Winsor AGA Hoang

It takes twelve years of discipline to come a doctor, eight years of schooling to become a lawyer and five years of extensive training to become an engineer. However, most people think that they can become good traders by taking one or two trading courses or by taking several winning trades in the Forex market.

Forex currency trading is complex and is extremely demanding! Most retail traders fail 80-90% of the times in their venture. All traders try to make large sums of money using the high leverage provided by the brokers. Leverage is a double edge sword where you can make a lot of money quickly, or you can lose a lot of money even quicker. Many new traders lose their initial investment within the first two month trading and in most case struggle to win the lost money back, by investing more. Trading without proper techniques and money management is similar to gambling. Think about a new doctor, he may have the education training but still requires two years of residency. Most traders lack the education, patient, and neglect the rules of money management.

Most traders who enter the Forex market are being drawn to the promise and hope of easy money. They are drawn by small starting capital and yet the being able to trade large amount of money due to enormous leverage offered by the industry. Novice traders trade without any kind of effective trading plan, and they may be pushed by their instructors to open real trading account using their instructors as introducing brokers. Most of the traders have no proper idea about good trading software, how to use the charts, or perform a detailed technical analysis of the currency pair they are trading. Novice traders should not be opening real account after one or two years of demo trading and many practicing trades. During the demo trading period, it is recommended that notice traders should follow automated trading software in parallel. A good trading software is the one that completely focuses on risk management, and is simple to operate and easy to understand by even an inexperienced trader.

Whether it is a novice trader, or any experienced person trading in Forex market, they would make basic money management mistakes, and it is here that they fall miserably. Many-a-times the retail traders make emotional attachment to their trades resulting into large losses. And this happens more with the novice traders who lack the experience of controlling their greed, fear and disciplines. After experiencing regular bouts of loss, new traders ultimately lose the interest, and finally give up.

In the attractive sounding Forex Market, things are not easy as they seemed. Sudden changes create the windfall or downfall for the retail traders. A trader can make easy and huge gains in a short period of time, but it is his consistence performance over six to twelve months that will determines his success. This fundamental also applies to Forex trading software and managed Forex accounts using manual trading or automated trading. All trading systems must be followed for at least six months before committing further investment. If you assume that Forex trading experience can be accumulated in a few months with several trading courses or real time trading chat rooms, it will be a hard learned lesson. It is after six to twelve months that everything begins to go topsy-turvy.

The trick is to understand that the trading profession will requires at least four years of experience before you can generate profits consistently. During the meantime, use the automated trading software in parallel to earn you some income.

About the Author: About the author: Registered Professional Engineer Winsor A.G.A. Hoang, Founder of Winsor Global Financial Inc.

Best Forex Trading Software

He is the developer 5 Forex trading systems for auto trading. His automated software is internationally ranked with live trading results published every 30 minutes.

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