Hi folks.

 

Let me give you some stuff to think about:

 

Scalping is the most difficult art to work on FX due to the high activity in short time.

You need to draw trend lines, fibs and ranges in very short time, sometimes seconds, not to mention to execute your orders.

 This method needs a lot of market sentiment (about 80% is feeling) and I recommend to trade only one pair at the time, every pair has different characters.

 

Scalp on a demo or small micro account before going to do some serious on it !!!

 

You need to know about FX tecnics the same as for day trading:

 

Candlesticks (Bars do the same job but I feel more comfortable with the candles)

Pivots

Trend lines

Fibs

Psych levels (00 and 50 round numbers)

RSI for divergence and oversold or overbought indication

 

And:

DISCIPLINE and PATIENCE

 

Take in mind: As less indicators and that stuff you have, as better your overall view.

You will see price actions faster on a clean chart.

 

There are thousands of other tools in the Internet and in the MT4 platform, look for what makes you surer in your trades.

 

It is very easy to make money in Forex (foreign exchange) but we like to complicate them as much as we can.

 

For example:

 When I just started, a good friend of mine that works for an US brokers, told me:

Buy when the price goes up and sell when it goes down.

 

You see itís easy but there is a very important point to be successful: THE MONEY MANAGEMENT.

We need to know how to risk our trades, that is the second more important point in all the FX business, after knowing when to take a trade.

  

One last word on this principal page before you follow the links, I didnít setup an email to contact me, I want to avoid that anyone thinks that Iím fishing or scamming, so for every contact please use the FF PM to ask me whatever you need to. My screen name is cobraforex.

Before emailing me try to read the entire pages, I will ignore questions that are answered in this website.

 

 

Cobra

Cobraforex

scalping ain't easy