Trading in Forex or another market seems to be simple. Eventually, it is all about making the right decision when it is time to buy an asset or sell it. A trading strategy chosen by an investor depends on one’s preferences and knowledge. For example, some investors are capable of waiting for days or even months to close the deal, while others want to get some profit quickly. In this case, they can use various scalping techniques. BF scalper is one of the examples of how such a strategy can be implemented. Another interesting strategy is called M1 scalping. Some helpful information about it is provided in this article, so keep reading it.
What Is the M1 Scalping Strategy?
M1 stands for one minute. Generally, each scalping strategy means getting some small profit from even minor price changes. The price usually goes up and down on a certain level constantly. By opening multiple trades within the day and closing them as soon as a small profit is received, traders can build up a good overall income.
Scalping M1 indicator, in this case, can help. The decisions are based on the one-minute chart. The same strategy can also be applied to 5-minute and 15-minute charts.
How to Implement M1 Scalping Strategy?
Scalping M1 strategy can bring steady income if a trader uses it correctly. It is essential to mind a broker’s commission taken for an open deal. This means that a trader’s profit will be revenue obtained from the deal minus this commission. It is important to quickly close the deal if the price goes in the opposite direction. The best way to gain the necessary experience when using this strategy is to test it in a demo mode. It can be used for trading with various currency pairs. This strategy is quite simple, and it can be recommended for beginners.