Scalping the markets is one of the most difficult trading strategies to master. Due to the exciting nature of scalping, is has become one of the most popular forex trading strategies that we see and forex signals for scalping have hit the market hard.
Scalping the forex market is a trading strategy where traders enter and exit the market over and over again. If you’re a scalper, then you are looking to remain in a trade for even less than a minute. Your goal from trading like this is to capture just a few pips per trade and to do this with a high win rate.
How can you Choose the Best Scalping Forex Signals?
With the popularity of scalping the markets, literally thousands of forex trading signals providers who claim to be professionals have sprung up all over the internet. But don’t be fooled by the first forex signals that pop up on your social media stream or into your email inbox. Not all forex signal providers are made equal!
Literally anyone can set themselves up as a forex signal provider these days and it’s up to you to do your own research before blindly following them and expecting to profit from scalping the markets. Having just a list of back-tested results shouldn’t be enough to gain your trust. Find a forex signal provider that offers their clients a free trial period so you can forward test as well as back-test. This way you can’t be duped by a cherry picked period in time where the signals happened to perform very well, but saw all profits wiped out in others.
Try to find testimonials from real traders who have used the forex signals that you are looking to trade on your own account. You are more likely to trust a signal provider if another trader with no invested interest vouches for them and their ability to scalp the market. Remember that if you’re looking for signals to help you scalp the market, then you have a very low tolerance to drawdown and simply can’t risk taking signals from someone who isn’t a reputable, proven scalper themselves.
Are Forex Trading Signals for Scalping Worthwhile?
Well this is the $64 million question, isn’t it. Scalping the markets isn’t for everyone because of the screen time and concentration that this trading this way takes. But if you can do it well, then scalping is both a highly rewarding way to trade as well as a highly lucrative way to trade.
The bottom line is that as long as you can verify that the forex signals you are following are from a trader that actually scalps the market on a live account themselves, then what do you have to lose in at least testing them? Get the forex signals to start being sent to you and have your demo account ready to trade the calls that you receive. The only way that you’re going to know if they work is to test them.
For any short term trading strategy to be worthwhile, you require the best forex broker that has tight spreads and low slippage. Try a Vantage FX RAW ECN account and experience the difference.
Source: Vantage FX Blog