EASY FOREX SCALPING STRATEGY FOR BEGINNERS - Singapore Forex Trading, Singapore Forex Academy, Singapore Forex Association

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EASY FOREX SCALPING STRATEGY FOR BEGINNERS


The forex scalping strategy is one of the easy forex strategies that work even for novice traders, and it is conventionally used on short time intervals ranging fr om several minutes to 15 minutes or less. For achieving the best results within this strategy, only two indicators are to be applied: 200 EMA, and the stochastic indicator. The main aim of the former is to reveal the trend, and the latter is used as an oscillator showing whether the market is dominated by excessive demand or supply.
For buying under this best easy forex strategy for quick transactions, several preconditions need to be met. First, price needs to
stay above 200 EMA. Next, the stochastic lines have to drive below 20 line and point upward. At this point, the trader has to quickly activate his buy order, immediately placing stop loss 15 to 20 pips away. Take profit in this case will be set to 20 to 30 pips.
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For selling under the easy forex scalping strategy, this works in a rather reversed way. Thus, price should be located below 200 EMA, and the stochastic lines have to be above 80 line and point downward. Next, the trader quickly activates his sell order, and places stop loss 15 to 20 pips away. Similarly to the buy setup, take profit in this case will be set to 20 to 30 pips.
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The scalping strategy described above is an easy forex strategy for beginners. Still, it should be borne in mind that there are still some risks. Namely, the market may be generating a number of false signals which should be monitored via the 200 EMA angle. When this angle is or is similar to flat, trade should be avoided. Otherwise, if the trader is able to make quick decisions by evaluating the current market dynamics, this strategy may be very effective even for novice forex market players.