Scalping the markets is an easy way to make money of you are patient and disciplined.
Several things I have learned whilst learning to trade online with the market analyser.
1. There is a way to trade called scalping. And no Indians anywhere in sight.
This is where you wait for the market analyser to give you the pre-alert indicators and then you get in, ride on the trend for 20 minutes to an hour or so. Wait for the Market Analyser to signal the TP, wait for confirmation and then get on and ride it the other way. Just scalping a little each way. Don't be greedy and set your target of 5, 7 or 10 pips and stick to it. You can spend a lot of time watching the charts but it is a quick and easy way to make a few hundred pounds every day.
2. That there is 1.9$ Trillion Dollars traded on the world currency markets daily.
Now, that is more money than I can imagine, although I am sure my kids would have no trouble spending it :-) Waiting for the big boys to make a play and jump in on the back of it is not difficult, especially when you use the market analyser software program.
3. That the currencies work to 4 decimal places.
When I used to trade the markets buying and selling stocks and shares, I was always wanting them or, more like, expecting them to rise a considerable amount.
This is not the same with currency or forex trading. This is because you trade to 4 decimal places. With scalping, I aim for a 10 pip movement which is equivalent to one penny.
I feel like one of the characters from the film 'the borrowers'. I nip in take just a little each time and no one ever notices me.
Long live scalping say I.
Well there are many things that amaze or should I say confuse me..... How the online spread betting companies work out the spreads is one of them!
Why is there such a big difference between the prices listed?
I thought that it could be because of the volatility but this can not be the case. Today there was a spread of 3 pips on the £-€ but there was a 5 pip spread on the €-£. Now thses currecnies do not move as one but they do tend to follow each other so why the big difference?
Also, using Market Analyser it gives me a live datafeeed of the prices in real time. I use a cmc Market Maker to trade with and sometime the prices shown on these live feeds differ a lot. This is not a big problem as usually they are on the button but it makes you wonder if they make the prices up as they go along...
The next stage is to research other spread betting and online trading companies to see if trading the currency markets is the same with them.
Making great trades on the € -JPY today so off to see if I can scalp some more.
Lloyd
The way to gaurantee success, is to take action
I am trying to increase the profile of this trading blog by using Technorati Profile
Go take a look at Tradebypc.com while you are here :-)
Hi
Trading the stock market has become more available to the common man but can be a minefield, the currency markets, or forex, has beeen shrouded in secrecy. Until now.
There is a lot of stock market trading software that will do all manner of stock market analysis but, unless you understand indicators like stochastics, moving averages, MACD and fibanacci, you will spend a long time learning to read these signals. That was until now. With the advent of the Market Analyser software, and their unique pre-alerts, that do all the work for you.
Of course, you will need to spend time learning your way around this trading software but, it takes a fraction of the time it would take you to understand the standard market indicators used in the city.
