Emotional Control in Scalping

The discipline and emotional control is a key point in the success of any trader and much more so in a full-time scalping trader. At this point can be very useful to use stop orders and trailing stop to maximize the benefits and minimize the risk if you are not able to decide when to close an operation controlling emotions.

Of course, a full-time scalping trader with little or no experience should start trading with small amounts. Luckily any broker can provide virtually mini accounts that typically require an initial deposit 500 to $10,000 and you can operate minilotes (0.1 standard lots).

The scalpers maintain their positions from a few seconds to a few minutes at most. Its main objective is to getting small amounts of pips numerous times throughout the day.

Finally, remember that you should never trade with money you can not cope with the loss.

Use of automated trading

A good automated platform would undoubtedly the best choice for a full-time scalping trader. Unfortunately I can not advise any platform or automatic trading software but I can advise the use of software that can monitor active orders when we’re not watching the market. These programs can be a useful tool for full-time scalping traders: the trader decide when to open a trade and can leave the program monitoring market conditions to closing the transaction when conditions are favorable.

In short, a forex trader successful full time must combine the currency pair trading right at the correct time to apply discipline and rigorous emotional control.

Of course, there are no guarantees of any payoff but following these tips sure there are greater chances of success, or at least approach the forex market and taking my experience and knowledge for transition to full-time scalping trading.

You can take several styles at once, you can typecast in one or another type of trader, does not matter, what matters is that will suit your style, personality, experience and skills.