Scalping is a term in the Forex trading in which Forex trader trades in the smaller time frame such as M1, M5 or M15. The trades don’t remain open not more than 6 hours. The traders who scalp (trade) in such fashion are known as the scalpers.
The scalping involved three main concerns for the successful trading:
- Spread (That should be minimum for the successful trade)
- Should be familiar with Economic Calendar and Keep in touch with NEWS and Data Timing
- Liquidity and Volatility
Scalping Profitable Forex Strategy:
The strategy I have been using since last year for successful trading. I have milked 1300+ pips last year by using this single strategy that is combination of two strategies like DPL V2 and Custom stochastic.
The Forex currency pairs that can be used for the profit by this scalping strategy:
In my personal opinion USD/JPY is the most profitable currency pair to trade.
As you can see in the Forex chart below I have added three custom stochastic, If you are new to stochastic you can read this article Forex trading system.
- Stochastic: 5.3.3
- Stochastic: 9.3.3
- Stochastic: 14.3.3
- Stochastic: 15.5.5
The following indicators has been used for scalping purposes:
Forex Indicators Used For Profit In Scalping:
- Bid Ask
- Pips Meter
- Price Border
- Trend Volume
- Bollinger Bands
- Bar Bands