To gain a small but frequent profit, many techniques can be applied to maximize scalping strategies including the most common trading rules. You must know those trading rules to gain more profits when scalping, and you can also visit http://www.arabforex.pro/en/bahrain/ to hire forex brokers in Bahrain who can help you trade forex effectively.
Here are some of those rules that you must know:
– Time Frame: In small time frame types between 1 minute to 15 minutes.
– Target profit: Between 5-10 pips.
– Type of analysis: Prioritizing technical analysis, because according to scalper traders in Bahrain, the fundamental effect is almost not visible proportionally.
– Trading conditions: Low spreads and tight and accurate price movements.
One of the scalping strategies that are quite popular among traders in Bahrain is the 1-minute scalping strategy (M1). This strategy is a popular scalping strategy and is relatively suitable for use among traders, especially beginners.
However, that does not mean that this method does not require high discipline and concentration because basically, this scalping strategy will require you to provide a special time in trading – at least a few hours a day without distraction or interruption.
Doing dozens of transactions in one day is a common thing in scalping. Therefore, it is not surprising that in this method you will need a broker with low spreads and commissions.
– Can be used for all currency pairs that have small spreads
– Time-frame: M1 (1-Minute)
– Stochastic (5,3,3)
– Exponential Moving Average (EMA) 50 and 100 periods
Also, there are some basic rules that you must understand when using the 1-minute scalping strategy whether you want to open or close a position.
In this strategy, you can trade pairs such as GBP / USD and EUR / USD. The following indicators are needed for the 5-minutes scalping strategy:
Exponential Moving Average (EMA) – Period 10
Exponential Moving Average (EMA) – Period 21
Exponential Moving Average (EMA) – 50 Periods
The EMA 50 indicator has a function as a guide to see which trend is strong at that time. While the EMA 10 and EMA 21 indicators have a function as lines that form support and resistance.
Bahrain forex scalpers can use these two EMAs as levels to find entry signals.