In forex trading, you can use many strategies to win in the market. Scalping is a common strategy loved by many forex traders and is also suitable for beginners. So long as you know how to apply this strategy correctly in your trades, you can make a significant profit within a short period.
Scalping is a trading strategy in which a trader buys and sells securities as close to the market as possible to profit from small price differences. The practice is usually short-term, meaning it can be executed quickly with little or no loss. Scalpers attempt to buy securities for less than they’re worth and then sell them at a higher price by timing small pip movements of about 5 to 20.
As much as scalping is a good forex trading strategy, it needs understanding and accurate market entry and exit in order to make good profits. One common problem facing scalpers is choosing the best forex pairs to scalp trade. The thing is that there are many currency pairs to trade, which is the reason why many beginner traders give up on using the scalping strategy. This article will help you know major, minor and exotic pairs to scalp trade in forex. Read on to gain more insight.