by kelly price
Forex scalping is very popular and is used to try and make small regular profits while taking small risks which build over time to make huge profits. Let's take a look at it in more detail...
First we will look at Forex scalping and then another short term way of trading which is far more profitable. Why is it better than scalping?
Because Forex Scalping doesn't work - All daily volatility is random, you can't get the odds in your favour and if you cannot achieve this, you will never win.
Its pretty obvious really, in the space of a few hours, you are going to have decide what a vast mass group of traders numbering millions will do and there all different in terms of - the methodology they use, their skills, aims and emotional makeup and they don't respect daily support and resistance.
While there are many who say Forex day trading work - it doesn't and the vast amount of vendors you see selling systems, never have real results in the market to back up their claims, just a simulated back test, where they have the advantage of knowing all the closing prices! Well that's so easy, anyone could do it.
So can you trade short term?
The answer is yes but you need valid support and resistance to key off and you can do it by forex swing trading. Its short term trading, with trades typically lasting a couple of days to a week - but you can get the odds on your side and that means you can win.
So if you want to win at Forex trading, forget Forex day trading and scalping and use a short term method that works - forex swing trading and enjoy currency trading success.
A swing trading system is easy to put together and the concept of overbought and oversold, is easy to understated and apply and will allow you to earn big profits in around 30 minutes a day.
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