Best Fibonacci Forex Scalping Strategy

if you are a beginner trader who is just getting into the world of trading, but have no idea where to get started or what kind of trading strategies to use, then you have come to the right place. Today we want to talk about a very specific trading strategy, a so called forex scalping strategy that can help you make consistent profits in a limited amount of time. Moreover this particular forex scalping strategy also involves the Fibonacci retracements, something that we will explain in greater detail further below.

Now, the fact of the matter is that trading is of course not easy, and if you don’t have any good trading strategies under your belt, especially day trading strategies, then you are going to have some really big problems making money. Now, if you have no idea what forex scalping trading is, and if you have no idea what Fibonacci retracements are, no worries because we will explain everything in great detail below.

The bottom line here however is that if you need a good trading strategy that can help you make consistent profits on a daily basis, then this particular forex scalping strategy that we are here to discuss today is probably right for you. Moreover, what also needs to be said here is that this is a forex scalping strategy that you can execute using nothing more than your mobile phone in order to make at least $300 per day.

What is Forex Scalping?

Before we can get the teaching you this specific trading strategy, the first thing that you probably need to know is what forex scalping actually is. First and foremost, this is a type of day trading, also known as intraday trading, which means that the trades are never open for longer than a single day.

When it comes to Forex scalping however, the time frames are even much shorter period generally speaking or X scalping happens over a maximum time period of just 15 minutes, and the specific strategy that we’re here to talk about today uses just a 5 minute time frame. Furthermore, some of these positions may only be open for a few minutes or even just for a few seconds.

One of the main goals of 4X scalping is to help keep your risk level at a minimum, while also providing you with consistent daily profits through many small winning trades. It’s all about generating many small profits that add up to something substantial at the end of the day.

Pros & Cons of Scalping in Forex

before covering the specific trading strategy that we are here to talk about today, we do want to talk about some of the advantages and disadvantages that come your way with forex scalping.

Pros

One of the biggest benefits that comes your way with forex scalping is that you can generate regular profits on an extremely regular basis. This is unlike other types of trading where it can take many days, weeks, or even months to make a profit.
Another advantage that you get from forex scalping is that it doesn’t really take much market movement for you to make a profit. With this type of trading the market only has to move by a couple of pips in order for you to turn a profit.
The other benefit that comes with this type of trading is that it features a very low risk level. Because each trade only involves such a minimal investment, it means that you aren’t risking much money on a single trade, so even if something does go wrong, you won’t lose very much money.

Cons

One of the main disadvantages of scalping trading in forex is that you have to be extremely consistent in terms of your win loss ratio. Because all of the winning trades are so small, it means that you have to have a very good win to loss ratio in order to turn a profit.
moreover the other disadvantages that comes with Forex scalping is that you need to be able to predict the market on a minute by minute basis, which is actually fairly difficult to do. However with the specific forex scalping strategy that involves Fibonacci retracements, the one that we are about to talk about below, doing this is made much easier.

The Best Mobile Friendly Forex Scalping Strategy Using Fibonacci

One of the most important things that you need to know about this particular forex scalping strategy is that it uses Fibonacci retracements in order to find the very best entries and exits into trades. This is named after the Fibonacci sequence of numbers, which is a ratio that is used to provide you with price levels to which markets tend to retrace after a portion of a move, before the same trend continues in the original direction. Furthermore this is a type of indicator that is usually used in technical analysis, and it helps you to determine resistance and support levels.

What we also need to say here is that this particular forex scalping strategy uses these retracements is not easy to explain with words. in other words, and definitely recommend setting up a tutorial video that we have included below, because here, Andrew explains exactly how to use this for exit scalping strategy to make profits on a consistent basis.

VISIT ANDREW’S TRADING CHANNEL

As you can see from the video Andrew is able to make over $300 on a daily basis even nothing but his mobile phone to trade. If you like making easy money on a daily basis, especially when you are on the go, then this forex scalping strategy is definitely something that you need to learn. For step by step instructions on exactly how to execute this forex scalping strategy, take a closer look at the video, because everything is explained in great detail.

Mobile Forex Scalping for Newbies – Final Thoughts

The bottom line is that if you properly utilized the forex scalping trading strategy that we discussed today, then your chances of making consistent profits on a daily basis increase drastically.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.