Forex Scalping – Scalp The Markets For Regular Small Profits And Make A Fortune

Forex scalping is the route many traders want to take and the attraction is obvious, make small regular profits and build a fortune over the long term. Let’s look at this more in more detail…

The problem the Forex scalper has is he has to determine where millions of people who make the price are going to send it in just a few hours. All these traders have different methods, motivations, systems and skills and all are individuals with their own opinions.

So how do you predict where prices may go?

The answer is you cant and if you want proof look at volatility in a day session and you will see it can and does go anywhere. Daily support and resistance levels are not valid and of no use, so you can’t use them! Because you can’t use them you can never get the odds on your side.

Without the odds on your side you’re destined to lose – Period.

Hang on you may say, I see lots of day trading systems sold online that make money!

Sure you do – but look at the disclaimer and you will see the track record is normally a back test, knowing all the closing prices. Well it’s not hard to do this and make a profit, anyone can – but the major problem in the real world is trading without knowing the prices and that’s why these simulated systems don’t work in real time.

How to Win

In Forex prices do not move to certainties as many claim, they move to probabilities and you have to trade the odds to and get them on your side to win.

You need to have levels of support and resistance in longer time frames that work and you have a choice of the way you can trade – you can either try Forex swing trading or long term trend following, both can make money and the method you use is up to you.

Forex scalping is a great theory which works when you test systems backwards and bend the system to the data but trading forward without knowing what will happen next is hard, in fact without the odds on your side, you’re doomed to failure, so get the odds on your side, trade longer term and win.

By: Sonia Kristina

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