The Best of Forex Scalping

Profitable Forex Scalping – Can it be done?

Is it really possible to take on forex scalping with 90% accuracy and consistently reliable results?

Sure, we’ve all heard it: “Make $100,000 in under 27 minutes trading the Forex:  easy, no work, no risk – just a ton of money! “

Forex ScalpingWell, it just doesn’t work like that, does it? Unfortunately there is real work and real risk involved when doing anything and that includes scalping forex. And trading the forex markets can mean exposing yourself to a high level of risk if you don’t know what you’re doing.

So, does this forex scalping course really deliver on it claims? Can it be true or is it just another case of hype on the internet?

I know, it’s hard to believe, but it’s true. No hype here, just fact.  And how do I know? I have been through the course myself. And I still use this trading style and technique today, actually pretty much every day I trade.

 

Forex Scalping – My Story

Before going through the “The London Close Trade Strategy” course, I had a hard time making consistent profits with my old forex scalping method. Sure, I would make money here and there, but nothing consistent.

I would mix up my time frames, jump from method to method, get in late or get out early, hang on to trades that I should have just dropped, ignore the time of day … and the list goes on.

Talk about frustrating! I was close to throwing in the towel and just walking away, since my schedule then just didn’t allow me to trade other hours of the day, except the timeframe of the London close.

But lucky for me I came across Vic Noble’s and Shirley Hudson’s Scalping course. What a life saver!

As soon as I got the course I went through it – and not just once, but a second and a third time. The next morning, I tried their method in my demo account and low and behold, this stuff worked.

That morning I had 3 setups. Yes, that’s right – three! And I took all three of them and all of them made money. What a difference; I couldn’t believe it.

The real beauty of this system is that it has a set time frame. So no more sitting around, staring at the screen forever (who has the time for that anyway?) and waiting for a setup. With this method you trade during a set period of time and then you’re done.

Using this forex scalping method has allowed me to keep trading and finally getting the results that I wanted. I am finally profitable. Sure, I have losers – can’t avoid that when trading. But using this style sure has turned my trading around.

Shirley Hudson, who created this trade, has been trading this strategy with a 93% accuracy for the past 12 month now. Unheard of, I know – but true.

Shirley combines the timeframe of the London close with a unique entry strategy, called the Noble entry. The combination of timeframe and entry method is brilliant. And it works like a charm. Once you’ve learned this method you won’t want to trade anything else.

Oh, one more thing. The amount of risk required for this trade is small – usually under 18 pips and often even less than that.

Shirley has defined targets she uses to take profits. And even though the typical profit targets are smaller than those for a day trade, it is not uncommon at all that you get a day trade like profit from a scalp.

 

Forex Scalping – Final Thoughts

This forex scalping strategy makes for a great trade: it’s reliable, requires low risk and it sets up almost every single trading day (at least in a few pairs).

Check out the “London Close Trade Strategy” course for yourself by clicking this link right here.  I promise you won’t be disappointed with this forex scalping strategy !

Good trading,

Jack

Posted in Scalping Strategies | Tagged , | Leave a comment

Learn the trading secrets of super successful forex traders

The level of success of the great traders may lead you to believe that they have access to trading secrets the rest of us  does not. While it’s reasonable to assume that, it keeps forex traders from realizing the more probable reality.

Successful forex trading is not the result of being privileged to a handful of fiercely guarded trading secrets; rather it is the result of sticking to certain principles.

In general, these “trading secrets” can be grouped into various areas, with three of them being of particular importance.

 

“Trading secrets” one:  Have a plan, know what you are looking for and trade it consistently.

When trading the forex it is vital that you have a game plan and that you know what setup you are looking to trade. Too many traders make the mistake of simply entering the markets without a clear picture of the specific trade setup they are looking for.

Even worse, many don’t have a trading plan or have a clear trade setup. The result: confusion and lost pips. Make sure that you develop a clear trade plan and trade setup and then wait for the market to set up. You want to wait with your entry until all your trade entry parameters have been met and hence the conditions are favorable for a profitable trade.

Why would you enter the market when not all your trade parameters are lined up in your favor? Just wait for your setup and you increase your chances for a profitable trade.

 

“Trading secrets” two: Know your risk and know how to manage your risk.

Of equal importance to becoming a successful forex trader is this next “trading secret”. You must know your risk before you enter the market and you must never risk more than your predefined amount. Ideally you will never risk more than 1% to 2% of your trading capital on any one single trade.

You also want to learn how to manage your risk. You will trade with stops and your will learn to adjust those stops. Don’t ever get caught in a trade without a stop. Just don’t do it.

You’ll get better at managing your risk when you learn to take losses and when you learn to take them fast. Successful traders are totally fine with taking losses and taking them repeatedly. They are good at taking small losses before a trade has a chance to turn into a big loser.

 

“Trading secrets” three: Know yourself and how to manage your emotions

Trading secrets: learn to manage your emotionsSuccessful traders know their own comfort level before they enter a trade and while they are in a trade. They do not trade on impulse but have prepared for trading and are willing to sit on their hands while waiting patiently for a trade.

Profitable traders are alright with waiting and don’t feel that they have to be in the market at all times. They know that they don’t know what will happen next in the market. They understand the importance of trading price, of trading what’s on the chart in front of them rather than what their original analysis had prepared them for. In a sense the successful trader moves with the market and has learned how not to resist it.

 

You may have guessed by now that there are no true trading secrets at all. The holy grail of trading may well be to have a trading plan that you follow, to control and manage your risk without fail and to manage yourself when trading. Those are the true trading secrets of the super successful traders!

Posted in Trading Secrets | Tagged , , | Leave a comment

Take the time to Learn Trading

If you’re thinking about forex trading it’s important that you understand the playing field and it’s vital that you take the time to learn trading.  Today, the foreign exchange market, or FOREX, is the largest and most liquid financial market in the world. While many small retail traders participate in the forex, it’s the “Big Boys” that move that market.

 

Learn Trading: Know the Players

In order to become and stay profitable, all while limiting your losses, you must familiarize yourself with the market and how the whole system works. In the forex, the big players are large Commercial Banks, Central Banks, international corporations, investment funds, broker companies and private individuals trading large amounts of capital.

While it’s difficult to have 100% current information on the moves of the big players, you still can keep tabs on the “Big Boys” by staying tuned to news releases and staying up to date with world events.

 

Learn Trading: Know the Language & the Basics

The Forex does not have a central exchange nor one set time it trades. The bulk of forex transactions take place in the major financial centers around the world including Tokyo, Singapore, London and New York.

Trading is really done around the clock depending on which country is awake and at work. As you learn trading, it is to your advantage to pay extra attention to when it’s the best time for you to trade with respect to volatility, news and time of day.

In the spot forex, trading is done in pairs. The most commonly traded currency crosses are the 4 Majors, the EUR/USD, GBP/USD, USD/JPY and USD/CHF. Other commonly traded pairs include the USD/CAD, AUD/USD, NZD/USD, EUR/JPY, GBP/JPY and the EUR/GBP.

Currency pairs are traded in lots. You can choose to trade standard lots (1 lot = $100,000), mini lots (1 lot = $10,000) or even micro lots (1 lot = $1,000), depending on what your broker offers and what it is that you want. The degree of movement of a currency pair is expressed in terms of pips. A pip (point of price change) is the smallest unit of price change of a currency pair.

 

Learn Trading: Fundamental and Technical Analysis

Learn Trading: Technical AnalysisIf you are to survive in the forex you need to have a basic understand of both fundamental and technical analysis.  Fundamental analysis looks at economic data and draws conclusions as to how the current and future economics might impact the markets.

While fundamental analysis is vital for long term trading, it should not be neglected for shorter term trading approaches. Governments release economic data on a predefined schedule. Know when important economic data will come into the market and prepare accordingly.

Technical Analysis looks at representation of price in the form of charts and draws conclusions based on that. Traders using technical analysis believe that price will tell you all you need to know.

While this has not always been the case, today, technical analysis is widely used in trading all types of markets, including the forex. To be successful in trading the forex you must have an understanding of technical analysis.

 

Learn Trading: Develop a sound trading strategy

Your trading strategy will depend on what kind of trader you are. As you develop as a trader and learn trading this will become clearer to you.

Are you more of a short term trader or do you prefer a more long term approach? What trading approach are you more comfortable with and which approach best fits your life style and circumstances?

Choose the trading strategy that fits into your life and suits your personality rather than changing your life based on a trading approach. You will find that you’ll be happier and more successful in the long run!

 

Learn Trading: Walk before you run

Open up a demo account with a broker. Next, practice your trading strategy until you can proof to yourself that you can trade it successfully over a number of trades. To reach long term success you want to be profitable in demo mode before you commit your hard earned cash. To really learn trading, you need to practice, practice & practice!

Know your broker’s platform inside and out. Once you go live and are in a trade, you won’t have time to figure out how to move a trailing stop or enter a limit order. Demo trading will allow you to familiarize yourself with all aspect of your trading platform before you start real trading.

Trading may seem easy and manageable when in demo mode. However minor, it will prepare you for the emotional stress and demands the life market will place on you once you leave demo mode. So let me repeat once more how important it is for you to learn trading before going live.

 

Put the odds in your favor and learn trading,

Jack

Posted in Forex Training, General | Tagged , , | Leave a comment