Forex trading is the best trading market in the world because it provides services 24 hours six days a week. For beginners, scalping is no doubt a unique feature for trading. In the beginning, many traders may have to face scalping forex but they don’t know how to use it properly. Many traders ask the question, repeatedly: Can they scalp forex at night?
Yes, you can. This is the most precise answer to this question. In London, the best time to scalp forex is 8:00-17:00 GST/BST; in New York, 13:00-22:00 is best to trade forex successfully. Many forex scalpers only want to open positions during the night. They try to finish it as soon as possible.
Many scalpers divert their trading activities to commodities and indices. You can get a lot of profit from scalping by giving it time, devotion, and patience. We have collected all the basic factors about scalping to make you perfect. Let’s explore more about it!
What Is Scalping In Forex
As a new trader, you must be confused about scalping in forex. Do you want to know, what it is? Let me explain! Scalping is a trading method that is used for technical analysis. This analysis can be done during real-time trading hours.
In the forex trading world, it is a type of trading system that is in need of big trades with the target of small profit. You can aim forex scalping to get profit only in one minute instead of days, weeks, or hours. That’s why it is easy to scalp forex night. You just have to work hard. Forex scalpers try to use each opportunity offered by the forex market. They can do it when they open and close trades with the help of a few pips of profit.
How To Scalp Forex
After understanding the forex scalp, it is essential to have the proper info to use the scalp in the forex, especially at night. Without it, you may do something wrong and become a failure. So, try to understand it and when you become fully aware, you can apply this method for trading.
Let’s read some tips closely to get started scalping in forex!
Best Time Frame
Generally, some traders use scalping in a specific time period. It may be sometimes between 1 to 15 minutes. So, it is mostly said that there is no best time to scalp forex. Every trader selects a time frame according to his trading strategy. For example, 1 and 5 minutes suits a trader but this time is not good for others. Similarly, a trader finds 15 minutes best for scalping in forex.
Best Forex Pairs
Now it’s time to select the best currency pair that matches your trading plans. It must be profitable when you choose a volatile currency pair. So, you can see high moves a lot. With volatility, another thing that you have to focus on is that the currency must be cheap. Such currency offers you the lowest spreads. To become a successful scalper, you will have to take spreads between 10 to 30 percent.
Scalping Trading System In Forex
To become an expert scalper, you must improve your forex scalping system. You can start trading when you get an entry signal. On the other hand, you may have to stop trading as soon as you receive an exit signal. You can do it if you have reached the goal of profit. In scalping, two main features are taking profit and stopping loss. When you open a trade, you can set take profit and stop loss to scalp forex at night.
The best execution system is another important element for a successful scalp trader. Execution is helpful to make you inform when your trades will be done by the broker. It is difficult to continue your trading activities as a scalp trader because of the different trading situations of the market. To avoid any problems, you have to choose the broker who gives you the facility of STP and ECN executions. He must be able to assist with the forex scalp.
Here you must keep focusing on spreads to scalp forex at night. For example, if your broker charges no commission from your trades, the spread is around about 2 pips on EUR/USD. It means your expenses are increased in USD. That’s why it is asked to scalp forex with the lowest level of spreads.
The Best Time To Scalp Forex
Now the most important part of this post is here. To successfully scalp forex, a trader must select the best for it. Another requirement of this system is suitable price movement and volatility. The highest level of liquidity in London is 8:00 to 17:00 GST. In New York, it occurs around 13:00 to 22:00 during trading sessions.
This time frame attracts a lot of scalpers in forex. Mostly, the time selection for scalping depends upon the trading plans you use in trades. Traders need to be fit and active while trading scalp forex. When you feel tired or bored, you have to stop trading at once.
Traders need to know about scalp in forex trading. There are different trading platforms where you can select currency pairs to buy and sell spreads all night. It happens if you have a lower level of transactions.
It would be best if you did your own research work before taking any currency pair for trading. It will also help you to the scalp at night successfully. You can recognize the best currency pairs for trading at night. These pairs must be suitable for trading plans.
Hopefully, you are ready to start your trading career full of confidence and feel free to scalp forex at night.