Many traders use scalping as their main trading strategy. Scalping means quickly entering and exiting the market making a few pips every time. Most scalpers look for making a quick 10-20 pips each time they enter and exit the market. By making a few high probability scalping trades every day, you can make 30-60 pips easily.
There are many scalping strategies. This simple scalping strategy is known as the Lucky Spike and it is being used by many traders to make consistent profits each and every day scalping the forex market.
The challenge for many new forex traders is to identify the overall trend on the intraday charts. The 200 Exponential Moving Average (EMA) can solve the problem for them. 200 EMA is one of the most popular technical analysis indicators amongst forex traders.
Risk to award ratio is often used when evaluating the risk of a Forex trading strategy, be it manual or automated. It’s one simple number that can tell a lot about a strategy. In fact, this number alone can tell a good strategy from a bad one. So what is the Risk to Award ratio and how do we use it?
