The Safe Way to Scalp Forex For Profits

By Nathan Pennington

Let me teach you the safest way to scalp forex for profits. First a warning. Don't just jump into scalping without some practice. This is easy . . . well no, it's not. It LOOKS easy. Let me show you how to do it and actually make money at it.

Pivot points are the old stand-by of the short term floor traders, and a lot of scalpers try to use them. I'm going to tell you to flat out ignore them. Yeah, that's right. Just ignore them. You need to learn to trade against the market. You need to learn to fade the market, and good for you, it's not too hard.

Here's how it's done. Set up your charts in a short time frame. Something like a 1 minute or 2 minute chart would work well. Don't use anything higher like a 5 minute chart. Now put a MACD on that chart. I'd recommend not using the standard settings. Speed it up. Use smaller numbers. I like to use multiples of five.

Okay, now you are set up. You need to look for divergence between the price and the indicator. Once you see that, you go in on then next bar's open. I'd look for at least 10 pips profit, but no more than 15 pips. The price moves in small waves at this level.

Set you stop to 5 or 6 pips. Maybe even 7 pips, but no more than that. Also when half of your profit target has been achieved, you need to move your stop up. That will allow you to trade with a good ratio of profit to risk.

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The Easy Way to Scalp Forex and Make More Than $100-Day

By Nathan Pennington

Making the big bucks in forex and doing it while scalping quickly sounds so cool. It's almost like a dream. Or in this case a dream come true. I'm going to show you how to do it. It's really not hard, just follow along.

Okay, for scalping you want a really short time frame. Something like 1 or 2 minute bars would be good. And something else, you want to make sure that you only try scalping in active times. That means in the London afternoon or New York morning. That's it. Doing it in other times is asking for trouble because the market isn't liquid enough for the really quick in and our moves (and it's more erratic at these times).

Moving on, you need to put a MACD indicator on your chart next. You could use standard settings. I often speed them up (make the numbers smaller). It's better that way for scalping. Now you are ready. You need to find exact entry points. This is a precision game. What you are looking for is divergence between the price. At that point, you jump on at the open of the next bar.

When the market diverges at this level, it will move at least 5 pips to 12 or 13 pips. You're looking for 10 pips in profit. Set your stop loss at 5 pips.

Now, when the price reaches 5 pips in your favor, move you stop to break even. Only try this on pairs that give you 2 pip spread or less. You may need to use and ECN broker for this.

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How to Scalp Forex For $100 Per Day

By Nathan Pennington

Wouldn't that be cool? Sitting in your PJs, trading forex for a couple of hours, and then taking off the rest of the day because you made $100? That would be cool. So how likely is it?

Well, let me give you a game plan, okay?

Here's how it works. You need to get your charts set to one minute or two minutes. Okay? If you're using metatrader, use the 1 minute setting.

Now just put on your charts a MACD indicator with the settings of 5, 15, and 1. Those are my favorite settings. Honestly it could work with just about any settings, but those are my favorites, and I can recommend them to you as working for sure. Okay, now that you're got that, you are ready to fade the market. Yep. You are going to trade against the market.

The reason you put the MACD on the chart is so that you can see when the market is making a divergence with the price. When you see that, you jump in on the next bar.

You should shoot for at least 10 pips of profit, and your initial stop loss should be around 5 pips. You want to do this with the lowest spread you can get (obviously). Now, when the market diverges at that level it usually moves 5 to 10 pips. If it moves 10 pips great. You got your money.

However, if it moves 5 pips, move your stop to break even. That way if the market turns against you, you just lose the spread (not much).

Click here for more information... To learn more about forex hedging, click the link!