Scalping price action strategy for binary option trading
Scalping is a price action where you can make lots of money on short term options. You need only watch a bit the chart and react fast. Read this post to the end to learn how to scalp japanese candle sticks and earn money online.
The settings for the scalping strategy is only a broker with short term options (aka 60-second-options). 60 second is a good time if you will trade at the 1-minute-timeframe. The best asset for this strategy are non-volatile (stable). EUR/USD is a good start point to learn to scalp. A broker that allow placing trades fast as possible is recommended. Scalping forex means to trade if the price cross a limit for a short time. Hence, reacting and placing trades fast is the key of successful.
Scalp your charts!
The japanese candlesticks look like the best chart type, but you should test each display kind to find the best for you. Even if an asset price is stable it moves up and down. A scalper waits for a fast price movement and place fast a trade in the opposite direction.
The system is easy to trade but require fast react. To be most reliable learn first about Support and Resistances. It is not necessary but helpful to understand chart pattern. Follow these easy step: When you see a wall appearing in the stock charts place a short trade in the other direction, because the price will most times jump back.
At the chart image above do you see 5 candles pressing against a resistance. Support and resistance are stronger if the price get pushed more times back. Even more, the red candle formed a very weak Hanging Man Doji, showing that the resistance is very strong. All in all perfect settings for a CALL scalp. Now you need only to wait until the price jump over the resistance.
Because scalping is a short-term trading strategy, it is tempting to mix up with the martingale strategy. Don’t use them! If you don’t made a mistake and lose a trade, the support or resistance will may break. Wait some minutes until you see the next strong support or resistance, or switch meantime to another stable asset.
Scalping forex – Advantages and Disadvantages
First, scalping is price action. Action is a really good description, because you need to acting very fast. You will need a fast broker and a fast internet connection. But exactly this is preferred by many traders. You don’t need another tool than the charts of your broker and use only your skill to win trades. It is strong recommend trying to scalp in a demo account and test whether the strategy is the right for you.
Learn to make profits with scalping
Thank you for reading this strategy testimonial. To get the big salary its first important to learn. A demo account is the best way to train before you invest real money. Don’t believe any lies which tell you, you can make the big money without training if you trade manually. Some fraud websites try to nudge you to invest money without knowledge. earn-money.today has lots free services listened, among others a great demo account provider and other transparent applications helping to making money fast.