Forex Scalping - Scalpers Wanted
Forex scalping is in high demand nowadays. Many forex brokers frown upon scalpers, but not us. We are always looking for talented scalpers.
True scalping involves opening and closing a position in seconds or minutes at most. Even though scalping involves the use of leverage and higher leverage means higher risk, the short period of time a forex scalper is in a trade decreases the exposure risk that's inherent in trading or investing due to the holding of a position. If done correctly, scalping provides this additional degree of "risk control" that is not even present in day trading.
Why don't most brokerage firms like forex scalpers?
Because many brokers are making money trading against their clients through their dealing desks. Yes; this is still legal in the forex market. While this might not affect as much regular traders (even day traders) that stay in a trade for hours or days, scalpers are another breed of trader. The profitability of scalping currencies can be drastically reduced if the correct trading firm is not used. The small percentage of successful scalpers are usually "kicked out" by one forex broker after another.
If you have used a forex scalping strategy successfully in the past, you probably know the feeling (click here if you are a successful scalper that wants to be allowed to trade freely, whether for yourself or for other customers - we always have customers that are willing to fund scalping traders).
Forex Scalping Platforms - the Good, the Bad and the Ugly
Scalpers use all sorts of platforms to scalp currencies, but probably one of the most common is MetaTrader 4 (a.k.a., MT4). MT4 is made by a Russian company and has become sort of the "de facto standard" among many forex day traders. The problem in using MT4 for scalping has nothing to do with the platform itself, but with the unscrupulous brokers that license the software and offer it to their clients (see the explanation earlier on brokers that trade against their customers).
For MT4 to be used in scalping the forex market without any limitations or restrictions, an ECN-type feed must be used or a multi-liquidity provider feed such as Currenex or HotSpotFxi. Currently, there are a few firms that are working on such a project to be able to accommodate extreme forex day trading or scalping.
Forex Scalping System Trading or Manual Execution?
While many forex scalpers trade manually, advancements in computing technology and powerful trading platforms like MT4 have given birth to another breed of scalper: the system trader or automated scalper. Many scalpers create forex robots or trading algorithms that are fully or partially automated, increasing execution efficiency and available trading opportunities. Whether you scalp currencies manually or let a robot do it for you, click here to see what we have to offer.
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