To start trading with the best Forex brokers simply follow the simple steps below:
The first step is to register your broker of choice. We always remember to use secure, regulated and authorized Forex brokers.
After that, we can make the first deposit whether it is a demo account or a real estate account.
We start trading with your chosen Forex broker.
Some Forex brokers are currently also lowering the minimum deposit threshold so it is much easier for all traders to start gaining experience.
As usual, the advice is: âinvest a sum that you can afford to loseâ.
That is, a figure that does not destabilise your financial stability.
Today the minimum deposit of most Forex brokers is 100 € and the services provided with these types of accounts are truly amazing, even in terms of currency pairs by offering up to 30, 50 or even 60 pairs with the demo account.
Having said that, let’s analyze what scalping is.
Scalpers practice a variety of very fast trading techniques in order to gain from small trend movements.
A scalping trader, defined as a scalper, does a lot of trading every day by aiming to earn money on quantity, not quality.
A scalper can also open a hundred (and more!) positions on the Forex market every day, precisely because its profits come from short movements in the trend (we speak of a few pips of gain per trade).
The greatest difficulties for this type of operation are linked to:
speed of order execution: slowdowns in the placing of orders by the Forex broker can cause problems in the correct execution of scalping techniques.
High spreads that exceed even 1 pips: scalpers aim to earn a few pips with each operation, so it is essential that the spreads are as low as possible.
Time to dedicate and stress: scalpers have to spend whole days in front of their computers, just to take advantage of every single possible trading opportunity. Scalping can be stressful, especially if you have never traded online before.
If you have just approached Forex trading, perhaps it is better to start with another more “quiet” trading style such as intraday trading.
In intraday trading, as defined, traders aim to trade during the course of the day: it means that they open and close all positions within one day, without ever leaving them open overnight.
In this case, it is not necessary to spend the whole day in front of a screen, also because the number of operations to open is much lower than the scalping.
Forex Scalping Trading Indicators
There are very few indicators suitable for scalping.
Who tries to convince you of the opposite is only to try to sell you paid products and we explain immediately why.
The oscillators or indicators of trading, in most cases is based always and only on historical data, so late.
Since the scalper cannot allow delays, there are no important oscillators suitable for this at the moment.
There are, however, exceptions, as in all things.
In this specific case, we therefore recommend using Pivot Points and Supports and Resistors as they are not oscillators and we cannot therefore consider them as instruments that provide delayed information.
Advice on Forex Scalping Trading
Below are some useful tips for quick and easy scalping of Forex trading:
always fix a Stop Loss and a take profit (usually a margin 3 times the stop loss is sufficient);
Do not mediate positions;
exit the trend early in the event of opposing positions;
exit the market if the price does not exceed a certain support and/or resistance;
Use time frames between M1 and H1;
exploit the underlying trend over longer time frames;
Try scalping trading through the demo account;
control the spread applied by the Forex broker at times of greater volatility;
check the mode and speed of order execution;
follow the prices charged by your Forex broker;
test platforms with 24 hour access.
We also think it is right to clarify the issue of trading scalping.
Some Forex brokers forbid this activity because the trader, even reaching the conclusion of more than 200 daily positions, could be considered as a manipulative maneuver of the market.
For this reason many Forex brokers do not allow it.