Hello Everyone! I'm new to the FOREX market and I've been looking to find a system to sclap the market. Is there a system? If so could you advise me.
GOD Bless! dr12jr12

Hey, I am fairly new to the Forex as well, and I would suggest you start off trading longer term. Scalping can be very difficult to profit from, or so I have read.

With that said, I do not know of any systems that specialize in scalping. Good luck!

What is scalping the market?

I have to agree with what you have heard, scalping is a hard way to go.

For starters, you have to be right much more often to come out ahead. (Remember, every time you enter a trade, you have to cover the spread.)

Scalping generally means you are in and out VERY quickly. A typical scalp can be something like 5 pips.

So, if you enter 5 scalps a day, you have to be right almost all the time. I used to try to scalp, but one bad trade can wipe out 4 winners, and fast.

The bad trade may start out at -3,-4, or -5, depending on the pair. Then add your losses. For example, if you have a bad trade on EUR/JPY (4 pip spread typically) you wont normally get out until -10 or so until you are convinced. So if you are lucky, the next 2 trades will be +5, and now you broke even. All this for being correct 66% of the time.

As far as systems go, all you can do is try them out, they are everywhere. However, never pay for more than a book. They are almost always based on EMA's, Fibo's, Trendlines, etc.....just with different numbers. (i.e. the 20 EMA vs. the 50.)

Just my 3 pips.....oh, and if you want to read some advice for newer guys, check out my blog, it's geared towards you. (since I am in my 4th month, looking back I figure that I may have a little something to offer. Recent memory of daily whippings! LOL)

Hi Guy's and Girl's,

just a short message to let you know that scalping is not as hard as you believe.

I scalp for a living and have a good batting average, all you need to do is read and study and come up with a reliable method that you are comfortable with and confident with and then work it.

The main thing is if you believe it is hard then your right it is hard and vice versa if you believe it is simple.

As I was just passing through so to speak, not sure what the rules are on what I am allowed to share.

cheers Go Getter

Can you share it with us,if it's a free system?Thanks!

Forex scalping is a style of trading where profits are taken after relatively small moves in the market.

What typically happens with this style of trading, is that trading is done over shorter time frames, where smaller profits are taken more frequently. The time that the position is exposed to the market is shorter, thereby reducing the risk of adverse market events causing the price to go against the trade. It is a different strategy to most other forex strategies, but still does require you to analyse the market to ensure that the set up for a trade is present, because you’re wanting to catch a high probability trade, so that the scalp trading is profitable.

You may want to learn about scalping by browsing in www.investopedia.com

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Forex Currency Trading

Hey guys!!! I really thank you for the advices. I was thinking of that scalping, but now I know is not good for people like me. Well I´m in this for 8 months but I think I have to read a lot and keep playing in my MT4. However, I´ll keep in mind this system for later.