I would never advise anyone to Scalp. You might ask why? Well Scalping is a High Risk System.
Don't get me wrong Scalping is my Favorite way to Trade Forex.
What is Scalping? Before you get started trading analysis the candlesticks. Look for a Trend meaning does it keep going up or down? If it is going Up then Buy. If it's going Down then Sell. Basically you sit and watch the profits every single sec in the M1. Once you hit a $20 or Higher profit. Sell it and reap the reward.
Scalping means trading in a very short amount of time. If your Profits go past Negative -$30 then close the trade. Yes you lost a Trade but you will always lose in Forex Trading. Everyone loses Trading in Forex. Don't let it get you down. You might have 5 wins verse 3 losses. In the end you will come out a Head if you have more Wins verses Losses.
SCALPING IS IN AND OUT FAST!
If you can pick out a good Candlestick paterns then you can succeed in Scalping. The majority of the time the Candlesticks mean Nothing. Meaning that is why you need to see consistencies in the Candlesticks.
Another way to Scalp is by the Forex News Announcements. If you don't follow the Forex News Announcements you will lose big time. Why? Because Forex Trading is effected by the Forex News Announcements. You will see big jumps in Forex after the News is released. It is a very Volatile time to Trade. A big one to watch and Trade is the Non Farm Payroll NFP trade in EUR/USA currency pair.
The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It represents the number of jobs added, excluding farm employees, government employees, private household employees and employees of nonprofit organizations. NFP releases generally cause large movements in the forex market. The NRP is typically ever First Friday of the Month at 8:30 Eastern Time. Click Here for their Schedule Dates.
Even if you don't trade the news, you should check the Economic Calendar every day in the morning, before you start trading, and once again, at the end of the day, to make sure you’re aware of any High Impact or major events scheduled for the next day.
The Forex News Dates and Times will show you The Economic Impact. If the News Reports are High, Medium or Low Impacts. Referring to the effects it has on the Forex Market plus Dates and Times.