Best Forex trading strategies can be called a mystery to solve for beginners. If you are looking to perform a trading activity on a real-time basis, do not hesitate to use the Scalping Strategy. Scroll down to learn more about Forex 1 Minute Scalping Strategy.
First things first, Forex scalping is a trading strategy that is basically built in a bid and ask system on a short-range base. When used properly, Forex 1 Minute Scalping Strategy becomes a powerful resource to keep track of the entry and exit points, and indicators in the blink of an eye. There are no specific requirements other than dealing with brokers with the smallest spreads and commissions and some available time to spend in front of the screen.
Forex 1 Minute Scalping Strategy is considered to be a quite effective and fast tool for starters, as it does not involve large margins or a huge investment. But, on what matters does this trading strategy hold? On the one hand, you have to spend a lot of time on your computer. On the other, you need to master the use of small spreads and commissions.
Learn how to effectively trade on a daily basis, even if you are a beginner in Forex trading. Incorporate key strategies to your Forex trading plan doing over 100 trades within a day, and learn how to maximize your time and efforts making the biggest impact possible when trading at a microeconomic level. Below you will find some recommendations in order to ensure that you comply with the necessary specifications and parameters.
Using Forex 1 Minute Scalping Strategy
You are able to work with the currency pair of your choice, but we recommend you to choose the one with the lowest spreads. We also recommend you to set up your terminal with indicators such as 100 EMA, 50 EMA and Stochastic (5, 3, 3) while looking for High volatility, London, New York sessions and the like.
To enter a buy long order it is important to play safe, so we recommend you to use the Stochastic Oscillator below the 20 level. With regard to the entry point, it is important to wait until the price comes back to the EMAs, starting with the 50 EMA which should be placed above the 100 EMA. Remember that you are performing a short-term strategy, so you are expected to gain at least 8-12 pips on a trade. The ideal would be to put the take profits around 8-12 pips from the entry price, and the stop-loss around 2-3 pips below the last swing.
To enter a sell short order, follow the same procedure, but it in the other way around. That is to say, the Stochastic Oscillator should be above the 80 level. Again, it is important to wait until the price comes back to the EMAs, the 50 EMA is now placed below the 100 EMA, yet the average of the TP remains around 8-12 pips from the entry price, as the SL are 2-3 pips below the last swing.
Forex Scalping Strategy Requirements
- Spend at least a couple of hours in front of the computer every day.
- Choose a broker offering ultra-low spreads and commissions. STP or an ECN Broker.
- The ability to perform a great execution. We recommend Plus500 for this.
- An accurate setup of time frames and indicators.
It is also possible to implement 1-minute Forex scalping strategy with Dealing Desk Broker.
Minute Forex Scalping Strategy Conclusion
Despite its name, 1 Minute Forex Scalping requires spending long hours in trading. However, that is what it takes to make a champion day trade. By selling and buying around 2-3 pips, and making a profit from small price gaps, you will be able to trade in larger volumes. Forex 1 Minute Scalping makes it so effective and fast to start Forex trading, that most beginners will be hooked to this strategy.
What is next? Pick up suitable Forex Bonus For Pro Traders and start scalping today!
If you feel like you need some practice or are not sure that this strategy will work, you can take one of the no deposit bonuses and test the strategy directly in the field.
Also, remember that in order to be a good trader, you do not have to be a scalper. Luckily, there are different FX trading techniques that can be used. If scalping does not seem to fit your trading style, you can always browse through our Forex Tips category and find something that fits you. Furthermore, this category has tips about the latest bonuses and tell you how to pick the best one for yourself.