Forex Price Action Scalping: an in-depth look into the field of professional scalping
Forex Price Action Scalping provides a unique look into the field of professional scalping. Packed with countless charts, this extensive guide on intraday tactics takes the reader straight into the heart of short-term speculation. The book is written to accommodate all aspiring traders who aim to go professional and who want to prepare themselves as thoroughly as possible for the task ahead
Introduction:
Ever since the days of old, the markets have suffered no shortage of volunteers ready to sacrifice themselves on the ever-growing battlefields of supply and demand. Fortune-hunters, plungers, gamblers, misfits, and a motley crew of optimists and adventurers, all have roamed, and will continue to roam, the marketplace in search for quick-and-easy gains. Yet no other venture has led to more carnage of capital, more broken dreams and shattered hopes, than the act of reckless speculation.
Strangely enough, despite the ill-boding facts and the painful fate of all those who perished before him , the typical trader still shows up on the scene wholly unprepared. And those who do take the trouble to build themselves a method, in most instances seem to only postpone their inevitable fall. On the slippery slope of the learning curve, things can get pretty unpleasant and many never recover from the tuition bills presented on the job. Not surprisingly, this has led to an endless debate on the actual feasibility of profitable trading, in which skeptics and romantics fight out a battle of their own.
To the skeptic, no doubt, the glorified image of a consistently profitable trader seems highly suspect. After all, the only ones who have always prospered in the trading field, at the expense of the ignorant, are brokers, vendors and clever marketeers. And if it is already hard to picture himself a proficient long-term investor surviving the odds, then, surely, the idea of a consistently profitable scalper must be bordering on the idiotic. To see the skeptic’s point, one only needs to follow the route of common logic: in a line of business where so many traders have tried, and failed, to successfully trade the long-term charts, those venturing out on the miniature frames can only be setting themselves up for an even uglier fate, and a faster one at that.
Contents:
- Trading Currencies
- The Tick Chart
- Scalping as a Business
- Target, Stop and Orders
- The Probability Principle
- The Setups
- Double Doji Break
- First Break
- Second Break
- Block Break
- Range Break
- Inside Range Break
- Advanced Range Break
- Tipping Point Technique
- Unfavorable Conditions
- Trade Volume
- Words of Caution
