Best Forex Market For Scalping Trading – Scalping as one of the most popular trading strategies requires special techniques and preparation to generate the best profit potential. There are many things that must be considered before starting to use scalping techniques. One of the things that must be considered when performing scalping techniques is the pair or the forex market itself.
Choosing a currency pair in scalping trading not only affects the use of the strategy, but also greatly affects the profit we will get.
Therefore, you should avoid several types of pairs or forex markets with the typical types below:
1. Rare Forex Pairs
This group is not suitable for scalping because price differences cannot be analyzed so it is difficult for scalpers to predict their movements in a short time.
One example of a market or pair that falls into this category is NOK/USD or RUB/USD.
Traders with scalping techniques should avoid this currency pair so as not to experience big losses. Unless you want to speculate.
2. Pair Carry
Although it is possible to scalp currency pairs in this category, they are not the best pairs for scalping. EUR/JPY or USD/JPY pairs are included in the Carry pair category.
Wide spread changes are not surprising in this type of pair carry. Pair carry spreads can widen so quickly, even the stop-loss you use will not be able to save you from losses.
So if you don’t have enough flying hours, you should avoid this type of pair to avoid the risk of more losses.
Once you know the types of currency pairs you should avoid applying a scalping strategy as much as possible. Of course there are pairs that you should know to implement a scalping strategy well. Among them:
Major Forex Pairs
The main nature of the major pair is liquid. The nature of both is a relatively calm response to market turmoil.
Major pairs are traded worldwide by almost all major banks and institutions. They become giant currencies in the market because of their relatively stable trading volume and movement.
Included in the main pair are EUR/USD, GBP/USD,USD/CHF and pairs that are formed from the most dominant currencies in the world economy such as XAU/USD and so forth.
Scalping is a strategy that requires concentration and special skills. If you want to try this strategy to get a profit, you should really master how to read price movements instead of referring to the indicators you use on the trading platform.