Forex Today

Yes, now you can make money even before you get to work. If you trade currencies in the Forex, you can make a profit from price fluctuations. This market is open 24 hours a day, thus, you can trade and make money at any time. You have no time in the morning? No problem; come home after a long day’s work and see what cross currency trading can do for your finances.

But before you get involved with live trading, consider learning a few basics about the market. Study some of the strategies that skilled individuals use; you too will be able to make the big bucks.

If time is of the essence, there’s a strategy we like which we call the “five minute technique.” It’s based on following the trend and identifying it with the implementation of Stochastic indicators. But make sure you only trade with the majors as it doesn’t work as well with exotics. Look at a five minute time chart. If the market is trending to the upside, buy on the retracement bars. If the market is trending downwards, sell on the retracement bars.

For those who are not too familiar with bar charts, retracement bars are usually purplish in appearance.

Traders who’ve shared their scalping secrets advise that you go long when the Stochastics are changing in direction. You can capture 10-20 pips per scalp. And if you’re wondering is it really safe to scalp, the answer is yes!