Scalping Forex or Long Term Trades
I used to like longer term forex trades where I would hold my trades for a few days or weeks at a time. But with the world Economy in the state it’s in right now and all the uncertainty, longer term trading, in my opinion, is much more risky. Not only is it more risky, but the gains can be much smaller than scalp trades. Why would I want to stay in a Trade for days, waiting for the Currencies to hit my price, when I can simply monitor my charts for a few hours and make multiple scalp trades? It’s much easier picking up 25 to 50 pips each day scalping than waiting for a week for 100 pips. There’s much less risk with scalp trading as well. We can set our stop loss and take Profit targets much lower, reducing risk, reducing losses and maximizing gains. I love Trading Forex and scalping is just another nice Forex Trading Strategy that works well in almost any market. Also, when you get really good at it, you can trade with or against the trend, because we’re looking for 10-20 pip moves and as currencies go with the trend and retrace, we can capitalize on both sides.
