Using indices (USDX and EURX) to help with trading FX

Using the indices to help track the direction of the major pairs

Part of my FX trading regime at the beginning of each week, and of each day, is to assess and monitor the 2 major indices, the USD dollar index (USDX) and the Euro dollar index (EURX). I find this useful to help with determining the possible trend directions on the major FX pairs. For example, if the USDX is trading up then I would look towards being ‘Long’ on the USD and short on the currencies that make up this index.

Description of the components of the USDX and the EURX

The US Dollar Index (USDX) is a measure of the value of the US dollar compared a basket of foreign currencies. It is a weighted mean of the dollar's value compared to

EUR, 58.6%, JPY 12.6%, GBP, 11.9%, CAD, 9.1%, SEK, 4.2% and CHF 3.6% weight

The Euro dollar Index (EURX) is a measure of the value of the Euro compared a basket of foreign currencies. It is a weighted mean of the dollar's value compared to

USD, 31.5%, JPY 18.9%, GBP, 30.5%, SEK, 7.9% and CHF 11.2% weight

An example of how I would use the indices to help track trade direction on currency pairs is given below with charts attached. The vertical dotted lines on the chart separate each month. You may need to click on the charts to make them larger for easier viewing.

A look at the daily chart for the GBP/USD for August shows that this pair was pretty choppy with no real clear direction. A look at the USDX chart for this period shows that it was also fairly choppy, not surprising. The USDX had been trading during this time within a symmetrical triangle and, according to triangle theory, was likely to break out, either up or down. From this chart you can then see that the USDX did indeed break out, in an upwards direction, at the beginning of September. The ADX indicator (bottom of chart) supported the direction of the USD trend as being Long (or, moving upwards) from the beginning of September. This observation would then give a trader more confidence with tracking the direction of US currency pairs. So, looking back then to the GBP/USD chart for the start of September you can see that the trend with this pair was down, that is, short for the GBP (and long on the USD). Thus, this trend was supported by observations made from looking at the USDX chart. That is, look to go Long on the USD, relative to other pairs.

In summary, if the USDX is trending up, look for confirmation to trade long on the USD, relative to other pairs. If the USDX is trending down, then look for confirmation to trade short on the USD. The same theory applies to the Euro dollar index, EURX.

5 Minute Silence Time

First of all I want to note that I’m not using Stochastics in my analysis and also my swing trades and I don’t like indicators at all but in this scalp method we are going to use this famous indicator as I had worked with stochastics almost 3years before.
Method Profile:
1. EURUSD M5 Chart
2. Stochastic 14,3,3
3. 80 and 20 levels on the stochastics indicator
4. Profit target are 7pips and 10pips
5. Stop loss is 15pips
How to Trade:
General rule of trading is to trade only once a day and after 15:00 New York time. After 3 pm we wait for stochastics to go above 80 or below 20 and exactly at the close of that candle we will go short or long respectively.
Look at the chart below, this was the previous signal for last day:

This is another example of this method:

There is another rule here: If at 15:00 stochastic was already above 80 or below 20 then you should wait for it to go around 60 (for the first case) and go around 40 (for the second case) and then wait for a buy or sell signal.
This is called Stochastic neutral zone in this method, so if stochastic was already in the strike zone then you should wait for it to go in the neutral zone and then wait for a signal.
Here I have to note that all signals are based on K% in stochastics, so you should wait for the K% to go above 80 or below 20 for a signal.
This method works great in low volatility market, I choose after 15:00 NY time because of this issue. So we can use this method whenever we find out price action is narrow and volume is too low such as this week and also holidays.

Scalping system using Bollinger Bands and Stochastic Oscillator

Name : 10 Pips Per Day Scalping Strategy
Time Frame : 5 to 15 Minute Charts
Indicators : Bollinger Bands (20, 0, 2) and Stochastic Oscillator (5, 3, 3)

10 pips per day

First you want to setup your charts as the image above. If you want the Stochastic indicator like mine, you can find it in the forums. Now the key is not to earn 10 pips in one shot or in one trade. If the trade skyrockets and gives you 10 pips, so be it. Otherwise, take what you can get. I will post a video tutorial on this also to make it easier to understand. The risk to reward ratio on this strategy is bad but has a higher accuracy rate. So please trade at your own discretion.

Steps to look for to scalp your 10 pips

- Look only on the major pairs. (EURUSD, USDJPY, GBPUSD, USDCHF)
- A close must happen outside the Bollinger Band indicator
- Stochastic Oscillator indicator must be in a oversold (below 20) or overbought area (above 80).
- If market is in a uptrend, look for a red candle. If market is in a downtrend look for a green candle.
- We will call these the “Signal Candles”
- Once you see your signal candle, enter in that same direction and scalp your pips.
- Stops are hard kept at 20 pips.

How to scalp fundamentally

While technical analysis is critical to currency trading - especially for pinpointing entries and exits - it is insufficient on its own for creating a comprehensive trading game plan. Market sentiment in FX is driven primarily by the economic and geopolitical news of the day. The key players in the currency market - Fortune 500 multinationals, the world's central banks, multibillion-dollar hedge funds and the top tier investment banks that service them - do not care if there is a double top in the EUR/JPY on the hourly candles. Instead, they formulate their trades by analyzing the most recent economic news and geopolitical developments, as well as the latest pronouncements from G-7 monetary authorities. Therefore, the proper approach to FX trading can be summarized as follows: trigger fundamentally, enter and exit technically. (You could go directly to our Forex Walkthrough which covers Beginner, Intermediate, and Advanced sections.)

Popular wisdom in the market states that traders who want to trade fundamentally should choose a longer time frame involving daily, or even weekly, charts. Those traders who want to trade more short term (hourly charts, for example) should focus strictly on technical setups. As with so much conventional wisdom in FX, this bit of advice couldn't be more wrong. For the purposes of this article, we define scalping in FX as using short-term time frames (usually hourly charts or smaller) to make trades with targets and stops approximately 20-30 points in length. Not only is it possible to scalp FX fundamentally, but retail traders actually have a significant advantage over larger market players when it comes to executing their trades.

Macroeconomic News Moves the MarketOne of the great aspects of the currency market is that it trades off of macroeconomic news that is transparent, impossible to fabricate and readily available to all market participants at the same time. (To learn more, see our complete Forex Walkthrough Economics Section.) The key news that drives the FX market is governmental economic data such as the latest employment statistics, GDP growth rates, trade balance reports, inflation readings and interest rate announcements. These reports are typically released every month and can been previewed on economic calendars.

Not only is the release of this data planned well in advance, but it is also reported instantaneously through a variety of news outlets including Bloomberg, Reuters, Dow Jones and CNBC, making it universally accessible. There's no need for traders to know about a secret contract that Intel (Nasdaq:INTC) may have negotiated, or the super-cool new product that a company like Apple (Nasdaq:AAPL) just prototyped at its labs in Cupertino, California. In FX, headline economic data really does move markets, and currency traders can take advantage of that fact. More importantly, individual traders often have a decided advantage in reacting to the news faster than the larger corporate and hedge fund players. 
Retail Traders Can React Quickly As the most liquid financial market in the world, forex trades almost US$2 trillion each day in volume (in April 2004, the Bank for International Settlements (BIS) reported that the forex market traded US$1.9 trillion a day). Most retail brokers will provide liquidity up to $20 million, meaning that they will allow any trader to buy up to $20 million worth of a currency pair at the current ask or to sell the same amount at the present bid. This trade size can accommodate 99% of all retail orders, making it easy for traders to open a position quickly without affecting the market. However, larger players that are looking to place trades worth hundreds of millions or even billions of dollars at a time will move markets. Therefore, by reacting quickly, retail traders in FX have a chance to front-run the big players and benefit from any momentum generated by that order flow. Economic news, whether favorable or unfavorable, can take up to several hours to fully filter through the market as traders adjust to the new information. This type of time frame offers astute retail traders a great opportunity to take advantage of the situation and scalp short-term profits as the pressure from the big players moves prices in the direction of the news.

How the Best Fundamental Scalps Occur If event-driven scalping were as easy as buying good news and selling bad news, every FX trader would be inordinately rich. Of course, success is not that simple. First and foremost, good or bad economic results in and of themselves are usually meaningless to the market. FX markets trade on expectations and perception. Therefore, relative comparisons matter much more than absolute ones. For example, suppose the United States reported quarterly GDP growth of 5%, while the eurozone reported GDP results of only 1.5%. At first glance, it would appear that EUR/USD should decline because the U.S. results clearly show superior growth. However, if the market expected 7% GDP numbers from the U.S. and only 0.5% readings from the eurozone, the exact opposite might occur because eurozone news would have exceeded expectations, while U.S. results would have come up short.

However, playing the expectations game alone is not enough to create profitable trades. This is where technicals become integral to a successful fundamental setup. The best, most profitable fundamental scalps occur under technically extreme conditions. These highest-probability setups are created when a favorable fundamental surprise takes place under technically oversold conditions and vice versa. At that moment, the currency can bounce like a rubber ball off pavement, as every market participant who is short scrambles to cover his or her position. The same dynamic occurs in reverse. If prices are extremely overbought and fundamental news shocks to the downside, most market players will rush for the exits, creating a stampede of sell orders that generates a strong momentum-driven move that can be profitably traded to the downside.

Figure 1

ExamplesFigure 1 shows an example of an actual fundamental scalp that a trader could have traded in the EUR/USD. On April 6, 2006, the euro was rallying against the U.S. dollar ahead of the monthly meeting of the European Central Bank. Rumors were flying on FX dealing desks that the ECB would surprise the market by raising rates by 25 basis points to 2.75%. The pair had become technically overbought, trading to the upper Bollinger band on the hourly charts as traders positioned for the news. When the announcement came that rates would stay the same (at 2.5%), prices receded, forming a red candle on the hourly charts. At the close of that candle, a trader could have gone short at 1.2306 using the swing high of 1.2331 as his or her stop and targeting the lower Bollinger band value of 1.2250 as his or her profit. (To learn more, see The Basics Of Bollinger Bands and Using Bollinger Band "Bands" To Gauge Trends.)

Notice that the trader in this situation would be using technicals for his or her entries, stops and exits, while using the fundamental data to trigger the trade, reasoning that disappointment from the ECB announcement would cause a retrace in the pair. Later on in the morning, ultra-dovish commentary by ECB chief Jean Paul Trichet helped push the pair much lower - the currency trader would have come out of the trade with a profit of 50 points in less than an hour. (For more insight, read Get To Know The Major Central Banks.)

Figure 2

Figure 2 shows a good example of why both technical and fundamental considerations are critical to successful event-driven scalping. On April 12, 2006, unemployment figures from the U.K. seriously disappointed forex traders, showing an increase of 12,500, rather than the market projections of an increase of 6,500. (For further reading, see Surveying The Employment Report.)
GBP/USD prices had been rising steadily for days as the pair climbed over the important 1.7500 level. Prices were clearly overbought, with the pair trading near the upper Bollinger band. A trader might have reasonably expected the news to trigger a sell-off, as the market would have to reassess its optimistic view of the U.K. economy. However, if the trader jumped the gun and shorted the market right away instead of waiting for some technical confirmation of price weakness, he or she would have gotten into some trouble. Why? Because instead of trading lower, the pair burst higher as pound longs tried hard to ignore the negative news and made one last effort to rally prices. As a result, the trader who jumped the gun would've been stopped out, losing 30 points only to watch in dismay as, two hours later, the price action finally exhausted itself and the fundamental facts began to weigh on the market. Therefore, triggering fundamentally but entering without a sound technical signal can hurt the forex trader.

Conclusion Trading FX is a multifaceted affair that requires both fundamental knowledge and technical expertise. Not only is scalping on economic news possible, it can be highly lucrative - as long as the trader pays attention to technicals as well as fundamentals. Like all worthwhile ventures in life, scalping fundamentally is not easy to achieve. It takes time and practice to learn this methodology, but those who are able to master this approach can enjoy long-term success in the currency market.

very simple scalping system

When it comes to scalping the market, there are a few factors you have to put in mind.

• You are going to have low risk reward ratio. When you are scalping the market, you are only looking for profit around 15 to 20 pips but it is hard to find entry with low stop loss less than your profit. Therefore you are going to lost more than you can make for every loss trade.

• To compensate for that, you need to have a high winning probability for forex scalping to be feasible for your account.

Here are some forex scalping system that I use

• Look for key support and resistance: As price usually are repelled by the key support or resistance level, there are a high chance that you can enter a trade opposite to the current movement trying to make profit from the repulsion.

What are the key support and resistance levels?

• Pivots: pivot trading are used by big dog and it usually provides very strong support or resistance and this is where you can enter your trade.

• Fibonacci Extension: Fibonacci also serve as good level of support and resistance especially the 0.318, 0.5 and 0.618 level. “Keep a LOOKOUT for them”

• Past Highs and Lows: You need to know that the previous high will now turns into your new support and previous low will now turns into your new resistance.

With the understanding of these important support and resistance levels, you can now setup your own forex scalping system with these levels in mind.
Remember: Try them out in the demo account first before trading them LIVE.

The Use of Range Bars as Forex Scalping

Use of Range bars for Forex Scalping Trading Systems and Methods is very simple. All you will use for trading are the ups and downs, and the ending of range bars. The reason why I have arrived to this technique is because I need a plain scalping method that sets out undemanding rules. When in a trade scalping in the market, you will have a hard time checking every signal as they are lining up. Things move quickly that it is difficult to monitor a certain thing for a short period of time.
What you need to efficiently run the system is a diagram of range bar. You may get the range bar chart online for mt4. In some platforms, there are already charting options that can show range bars. In my opinion, it’s better to avail cheap mt4 range bar software because the free to download ones are sometimes unsatisfying.
When you already have your software for the chart of range bar, do not miss to put the indicator of momentum in it. In my chart, you can have three levels. When a certain price is found among these levels then it is more often than not range bound. Then you will know that it’s a good time to trade if the price is not lower or higher than these levels.
For someone to succeed in this scalping system, he will need a good instinct. Unfortunately, I am not very fine as I personally cannot follow some trading systems and methods of scalping well. That’s probably the reason why I dedicate myself to lasting daily charts. But now, I can say that I am better with using range bars as a scalping system. It’s just a matter of practice.
These are the regulations.
Short if
• there’s lesser lows because of price
• there’s lower highs because of price
• momentum didn’t reach 100
• over 1 bullish bars has closed
• one bearish bar has closed an enter
Long if
• there’s higher highs because of price
• there’s higher lows because of price
• momentum exceeded 100
• over 1 bearish bars has entered
• one bullish bar has closed an enter
Exit
• half part when in your way bar shuts
• other half part where there is stalling of price
• completely at your own judgment on trade disposition
This is pretty much what the system is all about. It is not as complicated as other systems and when you get accustomed to it, it will surely bring in more pips. If needed to get your loss back, make a reverse by leaving and entering a trade.

Everything you should know about skalping markets

Best Indicators for Forex Scalping

Forex scalping is a trading style that can be categorized as extreme. It involves entering and getting out of the market at quick intervals. It reduces your exposure in the market and you take in small gains. Forex scalping can be extremely profitable if you react well in time and respond quickly. It also requires good trading indicators to generate signals for you. There are many good forex scalping indicators: Parabolic SAR (Stop and Reverse) – This is one of the most powerful forex scalping tools. This indicator generates selling and buying signals on any pair of currencies and its time frames. It is always advisable to confirm the signals of the Parabolic SAR with resistance and support levels so that you can enter into long trades when you get the signals from the SAR and when the price is on a support level. You can enter into short trades when the price is on a resistance level. This tends to make the signals quite accurate and increases the success ratio considerably. Stochastic Oscillator – This is another powerful forex scalping indicator. It can generate signals even in scalping time frames of one minute and five minutes and it can be a useful addition to your forex scalping armory. It is again advisable to confirm the signals of the Stochastic Oscillator with resistance and support levels to ensure that the currency prices have a strong motive to reverse. In forex scalping, it is always important to confirm your forex trades with a minimum of two tools as price can sometimes become unstable within short time frames. MACD Indicator - You can use the MACD (Moving Average Convergence Divergence) Indicator to check the general trend of the currency market and confirm the trades. You can enter into long trades when the MACD line crosses the trigger line upwards and enter into short trades when the MACD line crosses downwards from the trigger line or the water line. This is another important tool that can increase your forex scalping accuracy. As forex scalping is usually more risky than swing trading and day trading, you can take the help of the signals that are generated by such indicators to make you profitable in the long run. Accelerator Oscillator – This is another indicator that can be used for short term signals and it is very sensitive to changes in the currency trends. When the Accelerator Oscillator is above level zero and has turned from red to green, it is a signal to go into long trades and when it is below the level of zero and has turned from green to red, it is a signal to go into short trades. FAP Turbo – People are mostly apprehensive about forex robots. But, Forex Auto Pilot Turbo is software that is automated and works well in the case of live trading as a forex scalping indicator. You have to install the system on your computer and watch while it works for you. You don't need to place trades as the FAP Turbo will do it for you. The forex scalping techniques have been built into its algorithms.

 

Forex Scalping needs a good Software System There are special software programs that are available for you to make progress in the forex market. Despite the software programs, forex scalping is a risky affair. Forex scalping is all about making a small gain on each trade. The trades, nevertheless, have to be checked with stop loss values to protect against movement in the opposite direction. So, the bottom line is that the rewards while scalping may be low but the risks are high on each trade. Forex scalping has become attractive among traders because it gives quick profits. There are many traders who do only forex scalping. The scalping trade lasts for few minutes only. The traders open the trading position, make a quick profit and then immediately close the trade. By forex scalping, you have the option of placing many trades during a day. The profit target in forex scalping can be made rapidly and that is why there is an opportunity of placing several trades. This makes forex scalping quite popular. The scalping techniques are used on multiple pairs of currency. Some software systems in forex scalping will use the money management principle of only ten pips profit for every fifty pips that could be at risk. You have to be extremely careful that you do not run into a loss situation while trading. If you have four good trades and one bad trade, it will give you an eighty per cent success rate but you will still end up losing ten pips after five trades. It is safer to trade with caution with such forex scalping systems. It is also important for you to know your own individual psychological inclination while trading. You have to be mentally prepared for forex scalping. You have to keep a positive attitude to make trades at a fast pace despite any setbacks. Your broker has to act quickly when accepting such trades because if the broker delays by even thirty seconds on a trade, the opportunity of making quick money may be lost. The forex scalping software system should be accurate enough to give straight forward signals on when a trade should be opened and when a trade should be closed. You rarely will have the luxury of second chances in forex scalping. If you get late even by a minute, the entire scalping potential will go waste and the trade will lose its position. The 'Delphi Scalper' and the 'Super Scalper Indicator' are some of the aggressive software programs in the market for you. They prepare you in building a strategy at first. They have rules and indicators to follow with easy guidelines. The software systems are making ten to thirty pips in profit per trade at a success percentage of almost eighty per cent. They give you very clear entry, exit and stop loss rules for every trade. The concept behind the software system is to eliminate the guessing game as much as possible and to make forex scalping simple. The key in forex scalping is to use a good software system.   The Gains from Forex Scalping Forex scalping is a renowned trading technique where you can make numerous small trades within a trading day. Scalping has to be swift. It is not meant for people who cannot take decisions fast. Forex scalping allows for some quick gains. But, this technique for selling and buying has a very high risk- reward ratio when it is compared with more conventional forex trading. To take care of such risks, majority of people have very tight stop loss limits to make up for heavy relative losses. The main benefit of a forex scalping system is its swift income and completion of trades at the end of the trading day as there will be no outstanding forex trades. The downside to forex scalping is the difficulty that is involved in judgment as well as the cost of scalping which can be heavy along with high fees charged by brokers. What is the time frame used in forex scalping? You will require updated information up to the minute so that you can use short time frames on your charts such as one minute, five minutes and ten minutes. The main aim is to identify easy and quick entry and exit points. You have to maintain high liquidity and refrain from finding long term patterns. If you are willing to take relatively higher risks on every trade, you are also likely to make more money. It is likely that the forex market will have a tendency to move at intervals of ten pips more often than say a hundred pips. This means that you can take home profits more than once a day if you do it right. You can normally set your profit levels between five and fifteen pips and these can give you very good gains if coupled with leverage. One of the best things about forex scalping is that it requires very little capital to start up initially. You can start trading with just about one hundred dollars. You have to be careful not to allow the forex technical analysis to take over control of your life. You have to manage your currency trading rather than allow the currency trading to control you. Choosing a helpful broker may be tiring but reviews on brokers can give you lot of help on the selection of individual brokers. A forex trading exchange program can handle your work throughout the year with automation and computerized control. By using your forex trading system, you can control price patterns, price points, averages, market trends, technical indicators and price level proximity for trading. Forex scalping is regarded as the most popular approach by many forex traders. One of the best indicators you can use with forex scalping is the Stochastic Oscillator. You can sit on the sidelines most of the time. The Oscillator will show you the ideal time to latch on to a trade and gain profit of several pips. This is a momentum indicator that compares a security's closing cost to its price range over a specified period of time. It also helps to identify the overbought and the oversold conditions. It is very rare that the market becomes hard to do forex scalping because of high volatility. You can get good results with forex scalping if you are disciplined in nature.

Forex Scalping Technique to make a good fortune There are many ways that you can try to make a good fortune with forex scalping. You require a good technique to trade swiftly so that you can make money irrespective of what time of the day it will be. A good forex scalping system will help you to do the trades in an organized way by holding the trading positions for a short period of time, constant monitoring of the price and collecting quick gains. The forex scalping system controls the small price gaps that are created by the bid ask spread. The bid ask spread is the price quoted for the immediate sale and purchase of the position. The size of the spread is dictated by the size of the transaction cost. You can use different scalping systems to scalp the market within a short time effectively. You have to buy and sell currencies quite rapidly when you use a forex scalping strategy. The idea is to restrict your losses on trades that go bad and increase your gains on better investments. There are many indicators that can help you to gauge the trends in the currency rates. One method is to grab the important news that are released on a periodic basis and pick the most influential ones that are expected to affect the market. You can gauge which currency pair is going to be influenced. This method helps in creating large pip movements in both directions and you will be able to get in and out of the trade at a very minimum risk in a short time. A good technique is the minute scalping one involving pivot points. The idea behind this forex scalping technique is pivot points which are at levels of support and resistance. This will help you to take away the available profit and close the trade within a minute. No system is without a pitfall and you have to be careful to make it good with any forex scalping system. The forex scalping system methodology is dependent on quick price calculation. You could speculate where the prices will head in a matter of minutes and for that you will have to depend on the foreign exchange scalping indicators. It is not easy for you to predict the closing prices exactly because of the fluctuating nature of the market. However, if you have to depend on a good forex scalping system, you will have to rely upon information and modifications every now and then. You can also rely on the forex scalping indicators. You can focus on the GDP, inflation percentages, interest levels as well as the rate of unemployment to guide you with the indicators. These are all factors that can shape the trends of the movement of currencies of any country. Its quick trading characteristics have made Forex scalping to gain high popularity these days. It allows you to make small profits while exposing your trading account to a very limited risk. An automated system that can help you make transactions on your behalf will help you succeed in forex scalping.   Using a Good Software System for Forex Scalping Forex scalping has become very popular among traders because it gives them quick profits. There are thousands of traders who do nothing but forex scalping. The scalping trade lasts only for few minutes. The traders open a trade, make a quick profit and then immediately close the trade. By forex scalping, you have the possibility of placing many trades in a day. The profit target in scalping can be made very fast and that is why there is an opportunity of placing many trades. This makes forex scalping quite attractive. The scalping techniques can be used on multiple pairs of currency. There are some exclusive software programs and systems that are available for traders to make quick money in the forex market. But, despite the software programs, forex scalping could be a risky proposition. Forex scalping is about making a small scale profit on each trade. Yet, it has to be checked with practical stop loss values to protect against the possibility of a trade that might go in the opposite direction. So, the bottom line is that the rewards may be low but the risks per trade are high. There are certain trading systems and software in scalping that will use the money management principle of only ten pips profit for every fifty pips that are at risk. With this kind of set up, you have to be particularly careful that you do not run into a loss situation on many trades. If you have four profitable trades and one trade ending up in a loss, it will give you an eighty per cent success rate but you will still end up losing ten pips after five trades. It is safer to trade cautiously with such forex scalping systems. It is important for you to assess your own individual psychology of trading. You have to be mentally prepared when you go in for forex scalping. You have to develop a very positive attitude to make trades at a rapid rate despite the setbacks. Your broker's office has to act extremely fast when accepting such trades because if the broker delays by even thirty seconds to place a trade, the scalping chance is lost in some cases. The forex scalping software system has to be highly accurate to give clear cut and straight forward signs on when to open a trade and when to close a trade. You do not have the luxury of second guessing in forex scalping. If you get late even by a minute, the entire scalping potential goes waste as the trade cannot be placed. The 'Forex scalping Blueprint', 'Delphi Scalper' and the 'Super Scalper Indicator' are some of the popular and aggressive software programs making rounds in the market for traders. They train you in building a strategy in the beginning. They have a number of controlling rules and indicators to follow with easy instructions. The software systems are able to make anywhere from ten to thirty pips in profit per trade at a success percentage of close to eighty per cent. They provide very clear entry, exit and stop loss rules for every trade. The idea behind the software is to get rid of the guessing as much as possible and to make forex scalping simple to follow. The probable key to success in forex scalping is to use a reliable forex scalping software.