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One of the best methods of trading is Scalping which is done in shorter time frames. 5 minutes and 1 minute time are the best ones for scalping. There are many traders who dont know yet what kind of trader is?
The very first thing for the successful trader is to identify about your trading nature that what kind of trader you are? Either you prefer swing trade, day trade, scalp trading or long term investment plan.
You must have a particular trading strategy so that you mind set gets stick to any one of the plan. If I talk about myself I really like scalp trading but to be honest its not easy, it needs your time and also trading is not much easy in shorter time frames.
But I have an idea for all those traders who likes scalping or who are doing scalp trading. Scalp trading is to get a trade within few minutes and you must close it either in profit or loss.
Now the question is that how can you get the maximum trade profit from scalping. In this post I will guide you with a simple strategy that will help you increase your win percentage.
First of all, scalping must be done when the market is in sideways. I mostly prefer the weekends for this strategy because the market is much slower and you can do it easily.
I prefer #Bitcoin and #BNB for scalping which has slow movement as compared to other coins. In 1 minute time frame I draw the support lines and place my bids using Binance convert which has no trading fees.
I draw three support lines. My initial investment is $200, at the second support I invest double of the first one that is $400 and at the third support I do invest the double of previous that is $1200.
Now I do wait, the small recovery gives me good profit. Which means that only 0.2% move takes me to the good profit. Below the third support is my stoploss level. This is how I do scalping and is much profitable.
I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
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