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Danny

How should I prepare for scalping?

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Hi Danny,

Scalping is a risky process for any investor. More so, if you do not know when and how to scalp. As a prospective investor, you should be ready to stay glued to your screen all through the scalping session and concentrate well so that you can trade at a time you see its best.
As you prepare to become a scalper, It would be best if you can access the market makers easily. The broker you choose should also allow quick trading.
The Forex market is decentralized; therefore, you are responsible for the broker you choose and the risks that will come with it. You need to know the responsibilities you and your broker have. Understand what the broker is offering and the circumstances that may lead to your liquidation.
You also need to ensure the execution levels of your trade. Understand the terms you set with your broker, especially on when they will place your trade.
Also, you should be able to enter and exit the market in various ways. From this, you can protect yourself from a significant risk you may face.
You must get to know the best sessions that you can trade and what currency pairs to sell during a particular session. Some currency pairs trade better in a certain trading session than others.  The trading volume for specific currency pairs also depends on a certain trading session.
Please learn how to check the charts and market signals to know the best time to place a trade before you begin scalping.
 

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