A simple trick all forex scalpers should use to boost profits
Updated: Feb 6, 2019
Most scalpers have an unhealthy obsession with the lower timeframes (1m, 5m, 15m 30m). This is the leading cause of overtrading.
The fact of the matter is that looking at these lower timeframes on a constant basis to try and find patterns is not only confusing for the mind but most of the time all that really is being seen is market noise. Furthermore it is heavily time consuming and becomes very much like an unenjoyable, unrewarding 9-5 job.
To counteract this problem, there is a simple solution. Spend less time on the charts, and focus only on the 1 or 4 hour timeframes.
When it comes to scalping, don’t follow the ‘norm’ - think outside the box. Less is more!
Focusing on higher timeframes results in less time spent trying to interpret the market looking for trades and prevents placing risky or unnecessary trades.
With 1hr scalping a logical decision can be made about a trade. A proper stop loss can be applied and a trade can be taken with confidence.