What is the currency pair to choose in scalping ?

[Lens1000]

Day traders are very fast in the analysis of the forex market and they must be very good at analytical mathematics. This would help them in such a way that they will be able to make trading decisions very fast.

what is scalp trading? scalp trading is a day trading strategy that takes place in few minutes, that means you would buy and sell the pair of currency in minutes or probably seconds. It is different from the normal day trading that will last for hours. Scalpers will often choose the currency pair that has the same buying and selling price because they react very quickly to the market fluctuations.

Moreover, if you're not very fast in market sentiment analysis, it will be very difficult for you to undergo scalping trading strategy. It is indeed one of the strategies that could be used to make money very quickly in forex business and I have tried out this type of strategy severally and I found out that it works very well on the ground that you must be very fast in the technical and fundamental analysis of the Forex market.

Do you believe that scalping is the best strategy that one could use to trade Forex?

 

[Jack Reacher]

Loss will accompany you as long as you stay with the market. It is even painful for those who build castle in the air about Forex trading. As a secure broker, you can go for Eurotrader broker because the broker uses different regulated bank accounts for offering security.

 

[Belomancy]

The rule of thumb says that it is best to trade pairs having the highest liquidity and volume. I’m also scalping with fxview and here are my go-to pairs - EUR/USD, GBP/USD and USD/JPY. Just choose pair(s) that you have knowledge about and you’ve been tracking for a long time to get the desired results.

 

[Ithedicious]

I'm just starting to get interested in forex and from my little indication I think scalping strategy is what so many people are using to make money most especially as a day trader . Since the market is highly volatile you may not be so sure about the next market movement and the best way you can benefit from the market is to trade it and make quick profit and exit the market immediately...

To be able to engage in scalping strategy effectively , you must be able to have a better understanding of how to analyse the market . With proper analysation it will be possible for you to know when to enter and when to exit.

There are so many strategy people may be using to trade , a lot of people trade support and resistance . Some people at the same time can trade base on other things they have discovered. You need to choose what suits you.

 

[FXOchartist]

When I trade scalping, my favourite pairs is EURUSD and AUDUSD, in FXOpen these pair has low spread and possible get negative spread, scalping is short term trading and need more concentration to work. Open and close order only with small target pips sometimes less than five minutes.

 

[Suba]

Scalping is a strategy that requires special skills, concentration, scalping is also a unique trading style. So there are many factors that must be considered before implementing a scalping strategy, one of which is choosing the right forex pair.
The scalping strategy is carried out quickly both when buying and selling it in a short time. So choose a currency pair with a spread that is not too high but the movement is fast. like GBP/USD, EUR/USD and USD/CHF or choose big spreads like GBP/JPY.

The best strategy for one person is not necessarily suitable for another trader because each strategy must be adjusted to the personality, such as in the selection of time frames, risk tolerance, etc.

 

[Ivo Zetticci]

We traders trade blindly on the market so we are not profitable from here. To capture the market trend, you can use indicators. RSI, moving average and Bollinger bands seem to be good indicators. Eurotrader provides a reliable and smooth trading platform which includes more than 200 technical tools and free of technical errors.

 

[Mary Frederick]

Majority of the brokers on the market try to offer advanced trading technology to traders.Select brokers that allow you with smart bridge technology because this technology is fast and secure and you won’t face any technical issues like requites, slippage and dealing desk. Eurotrader uses smart bridge technology. They make sure instant trading support to traders whenever necessary.

 

[moonchild]

In scalping, it is crucial to choose a currency pair that offers high liquidity and narrow spreads, as this will allow for quick and efficient execution of trades. The EUR/USD and GBP/USD are popular choices for scalping, as these pairs have relatively low spreads and are highly liquid. Additionally, the USD/JPY pair is also commonly used in scalping, as it tends to have high volatility and is therefore suitable for traders looking to capitalize on short-term price movements. However, it is important to regularly monitor the market conditions and adjust your currency pair selection accordingly to ensure the best possible results in scalping.

But all in all it depends on the trader, if you are proficient enough in forex trading, you will be able to trade with any kind of pair easily, maybe you just have to trade with it once and understand how it moves and take it up from there