the forex broker has to be paid for every position that is opened, whether it is profitable or not. As weve already mentioned, given the nature of scalping, the profits earned with just one operation are quite slim, ranging from a couple of pips to a few tens, at most. A scalper has to choose a no-dealing desk broker (NDD).
So, for scalping to produce real profits, traders must focus on two things: finding many trading opportunities throughout the day; having a high percentage of trades closed with profits. Only correct"s allow for rapid action. Scalpers on the other hand use a strategy based on technical analysis and short-term price fluctuations.
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You may not think it matters where your broker is located, but this couldnt be farther from the truth. Besides having solid technology assets (such as PC, monitors, etc.) and a fast, stable connection, scalping requires extremely high self-discipline and concentration. Your intended broker must be able to provide fast price feeds so you are sure you are getting prices which are up to date. Some applications they have developed allow to perform calculations which ease operating decisions. It truly is the shortest form of short-term trading. If youre keen to engage in scalping, your broker should support all of the following: 1-click market orders, automated trading, option to pre-set stops/limits, depth of market (DOM) information. A scalper doesnt care for the trend direction of the financial asset, as long as it keeps moving. But whats equally important, is how fast the price feeds are.