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I
can safely say that there are no shortage of
forex scalpers out there. It's pretty
obvious that there are traders who prefer to go
in and out of the market a bunch of times
during the day, instead of having the
traditional "buy and hold strategy" for weeks
on end.
However traders should be
aware that when you choose to be a forex
scalper, the risk becomes a lot
bigger.
In fact, over 95% of scalpers
in the forex market end up losing more money
than making it.
This is why it's so important
to learn how trade the
forex market correctly.
instead of just jumping into
something you don't know much about. You
have to expect to do some legwork. This
is when learning price analysis is really
key.
You see, most new
traders don't really spend that much
time learning about analyzing the
markets. After all, that's why
indicators are around, right?
Wrong!!!
There is
no "magical"
indicator. Traders are
always looking for an indicator that does all
the work for them. If that was the case,
then there really wouldn't be a need to
"analyze" the markets, would
there?
This is the kind of mindset
that many new traders have,
unfortunately. They think that an
indicator will answer any kind of question
that you could have about trading.
It doesn't work like
that.
Instead of thinking that
you need an indicator to tell you
when to buy and sell, you should
look within.
For instance, do you actually
know how to spot the trend? You should if
you plan on forex scalping. I'll give you a
clue. It has nothing to do with
moving averages. in fact, you
could look at a simple bar chart for 2
seconds and be able to spot
the trend.
It should have nothing to do
with what an indicator is
telling you.
Also, what about support and
resistance areas. What do you
use? let me guess, you use one of those
proprietary indicators based on those generic
formulas that everybody uses.
Don't feel bad if you
do. I did when I first started trading.
But do you really think that TRUE s/r areas can
be used with simple, static formulas? I
don't think so.
These support and resistance
areas should be able to be seen with the naked
eye. It should be clear as
day.
Check out Trading In The
Buff to Learn How To Trade
Forex Successfully Just Using Price
Action.

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