This article looks at the scalping forex trading strategies that you can use as a part-time trader.
There are a lot of different forex trading strategies that you can use as a part-time trader. It is important that you consider all of the options available. There are many traders who look at using scalping on the forex market. If you are a part-time trader you might wonder how you will be able to use this type of trading. There are two ways that you can use scalping forex trading strategies as a part-time trader.
The Two Options You Can Choose
There are two options that you can use if you want to scalp as a part-time trader. These options will work in different ways and you should consider this. There are some traders who will not be able to use one of the methods and others who will not be able to use the second method. The first option that you have is to scalp in a block of trading time. The second option is to scalp the market frequently throughout the day.
Scalping Forex Trading Strategies in a Trading Block
The first way that you can use scalping as a part-time trader is when you have a set amount of time for trading. There are many part-time traders who will have a number of hours set aside each day for trading. These traders will be able to use this scalping option.
To complete this trading you will need to use technical analysis to determine when you can trade. Fundamental scalping is not ideal for the part-time trader because of the additional analysis that you will have to complete. The technical analysis that you use will either be with technical indicators or with price patterns.
When you trade in this manner you will be able to complete a number of scalping trades within the time that you have to trade. There are some traders who feel that scalping is not the best strategy for a part-time trader. This is due to the high levels of stress that come with the trading and the waiting that you will have to do for the best trade opportunities.
High Frequency Scalping
The second way that you can scalp the market as a part-time trader is through the high frequency strategy. When you use this strategy you are going to access the market throughout the day and complete trades. This is a part-time trading strategy that many traders will not be able to use. If you do not have access to the market or the time during the day then you will not be able to use the strategy.
To complete this trading you will need to know exactly what you are looking for. You will also need to be able to determine what your trade signals are very quickly. If you are not able to do this then the amount of time that you have to spend on the analysis will increase and this moves away from the strategy. If you are able to connect to your trading account throughout the day then you will be able to take 5 minutes to trade when you can.