What is Forex Scalping ?- The Forex Scalper Mentors

What is Forex Scalping ?- The Forex Scalper Mentors

The Forex Scalping Course to Understand What is that

Forex Scalping is a forex strategy where the trader only keeps his positions open
for very short periods, with the aim of quickly catching small profits.
This can be a very profitable way of forex trading.
Because the time that the position remains open ranges from a few seconds to a maximum of 2 minutes.

In fact, there is no more talk of forex scalping than normal intraday trading.
However the target profit per trade is usually between the 1 and 5 pips
In theory, it is also possible to set up a forex scalping strategy with the expected profit between 5 and 15 pips net, but in that case the position will have to be held longer for longer than 1 to 2 minutes.

How does Forex Scalping work in Realtime?

Firstly the trader must first consider a working system.
Most important part of any forex scalping strategy is at least risk management.
The difference between profitability and profitability is, in fact, risking only a small part of the total capital and quick packing of any profit.
After all, anyone who already has some experience in trading in the online currency market knows that it is not possible to deal with profit is an unprecedented risk if unable to accept / cause loss.
Successful scalping means risking 1% up to 2% of your total capital.

Forex Scalping

If you work with very small profit margins, there is no room for greater loss.
In conclusion, a scalper develops a fixed, elaborate strategy that is not deviated from.
At our course, you learn everything about Scalping and Swing trades.
So if you interested in scalping but never did scalping before please contact me for some more information.

Forex Trading Double Top and Bottom Chart

Forex Trading Double Top and Bottom Chart

Double Top and Bottom Patterns Chart

The DoubleTop and Bottom:

One of the most common chart patterns in Forex Trading is the Double Top/Bottom. This pattern is such a regular customer in the charts that it’s an easy manner of proof to show the Price Action isn’t as wild as many think. The Double Top/Bottom in special represent the re-testing of the highs and lows or better said the Support and Resistance.

-The double top:

Double Tops are mostly found during an uptrend, at the level where new highs are formed. Often followed by a pullback and retest of that same high. When the retest of the first high doesn’t succeed to reach over the price of the first high. So, the price bounces at the Resistance level. Mostly the letter “M” will be formed at the chart.
The second high doesn’t have to be exact under the first high, but has to close to the same level. This pattern mostly indicates a weakened trend. The buyers will lose some ground like shown underneath.

After a confirmation signal for a short trade from the Double Top formation, the neck is used as a target.
Always stay up to date on  as well to confirm your decision.

A Double Top indicates a “Sell” opportunity

by showing us the price is struggling to break through the roof (Resistance level). The market will go up twice towards that important Resistance level and twice it shows a clear Bearish candlestick formation after. After the first rejection of the key Resistance level, the price will tend to go further down to create the neck. The price will go up for the second time and test out the same Resistance level that is marked as the blue bar underneath. Double Tops are good opportunities for a reverse on the weekly and monthly levels of Resistance. Also on the daily and H4.

Double Top and Bottom

-The double bottom:

A Double Bottom is the opposite Double Top. As said before, a lot of patterns and formations can be mirrored. The Double Bottom mostly occurs during a downtrend and is a reverse signal telling is the trend could go up. Easy to spot on the charts since it looks like the letter “W”. The initial downwards movement will find a Support at the bottom and will stew the Price Action of the Support towards a new formed high (he middle of the “W”).
Another “Sell” wave happens and touches the same Support level as the first did. And so, lead to another increase of the price. This all is confirmed when the price breaks through the higher Resistance level.
Take look at the chart underneath and you will understand.
Double Top and Bottom

These are the most fundamental patterns of Double Tops/Bottoms that can be found at the charts. As you can see, the Support and Resistance levels are extremely important. Especially when trying to recognize patterns and formations. Make sure your charts are clean as well. You don’t want to many distractors. Let’s move towards more advanced Price Action setups with Double Tops and Bottoms surrounded.

The second rejection confirms the Double Bottom formation: Ideal moment to buy or even exit when you’ve been in the “sell”/short action.

Double top and double bottom variations:

There are multiple Double Top and Bottom variations possible in the market. The Double Top/Bottom could be seen as a reverse of trend but also as a move of correction towards the ongoing trend as shown below.

Double Top and Bottom

Double Top and Bottom

Traditional DoubleTops / Bottoms:

Tend to have a bigger chance to break out counter trend wise.

Correctional DoubleTops / Bottoms:

Tend to move on with the ongoing trend. Especially when at the 50% or 61,8% FIB Retracement level (more on that topic later).

Overbalanced DoubleTops/ Bottoms:

The correction for this Double Top/Bottom is bigger than the previous correction and so has more potential to reverse counter trend wise.

Running DoubleTops / Bottoms:

These formations will eventually come to a new high or low when a reverse with the ongoing trend occurs. Especially if the Support and Resistance levels are at in the 50% of 61,8% FIB Retracement area.

DoubleTop and DoubleBottom breakout patterns (rectangles and wigs):

Double Top and Bottom

The Double Bottom reversal and breakout trade:

Mostly when the market has reversed and a Double Bottom appears, you have a change to buy at the first correction. Another chance occurs when the upwards going Price Action movement is more realistic.

Double Top and Bottom

Best Broker: IcMarkets.

Learn How to Trade Head and Shoulders Pattern  in Forex

Learn How to Trade Head and Shoulders Pattern in Forex

Head and Shoulders Pattern

Price Action moves all time and no movement is the same. The following patterns are most common at the charts. Let’s learn how to look at them and how to use and combine their specific rules with other aspects of our technical analysis.

The Head and Shoulders Pattern and Techniques:

This head and shoulders patterns shown is a  signal that indicates a certain pair is a setup to go down and repeat the same pattern. Mostly seen at the highest point of an upwards trend. Off course there is a second version as with a lot of techniques and patterns. Since we have to see the market as a big mirror. Everything that happens on the upside can occur on the downside as well. The second version is known as the head and shoulder bottom or reversed head and shoulders. The reverse head and shoulders patterns are simply the opposite the normal head and shoulders pattern and indicate a certain pair will move up and repeat the same pattern. Both times, the head and shoulders suggest a reverse meaning the pair will move against the ongoing trend.

The Neck:

Both of the head and shoulder patterns have a likewise construction. Four compounds will make the head and shoulder pattern complete: Two shoulders, a head, and a neck.
The pattern confirms a trade setup at the beginning of the neck/trend line, after the second shoulder has been formed.
For example A period of consecutive upwards highs and retracements is seen as an uptrend, while a downtrend consists of consecutive lower peaks and pullbacks.
The head and shoulder pattern illustrates the weakness of a certain trend.

head and shoulders pattern

Head and shoulders above: 

– This pattern consists of four consecutive steps completing themselves to signalize the reverse.

– Left shoulder is formed when a pair reaches a new high and retraces to a new low.

– The head is formed when a pair reaches a new higher high and falls back around the level of the low formed at the left shoulder.

– Right shoulder is formed with a high a little lower than the high formed at the head. And again followed by fall back around the same low formed at the left shoulder.

– The Price breaks the neck/trend line. In other words the price drops under the Support and flows towards the level of the three lowest points before breaking through the head and left shoulder.

Head and shoulders bottom (Revearsed head and shoulders):

The reverse head and shoulder pattern is the exact opposite of the head and shoulder top, because it indicates the pair is setup to make an upwards move.

– Left shoulder is formed when a pair reaches a new low and pull back to a new high.

– The head is formed when a pair reaches a low that is lower than the low of the left shoulder and will pull back to the level of the around the latest high. This step towards the past high will create the neck for this pattern.

– The right shoulder is formed by a typical sell-off and is less bad as the low of the head. Followed by a pullback to the neck.

– The pair breaks above the neck/ trend line. The pattern is completed when the price above the neck breaks and creates an uptrend.


After the fourth step, when the neck is broken. The pair will most certainly move towards a new direction. It is that specific point that traders use to step in and open up a position.

The head and shoulders patterns are formed by three characteristics and can be spotted at multiple time frames. This setup achieves best results at the daily and H4 charts.

How to spot a head and shoulders formation:

Left shoulder: Going on trend has to be Bullish, with a price anticipating on the next movement at an important Resistance level. The Price action is often a bearish candlestick, as a catalyst for a deep pullback.

Head: Next wave will keep on going up till it reaches a new high before it forms a Bearish reversal. This peak is the highest point of this pattern.

Right shoulder: At the end, the price will move up a bit again. However, this time i won’t get higher as the head (past high).

What to do when Head and Shoulders occur?:

Once we’ve concluded the head and shoulder patterns is at the “neck” phase it’s now possible to predict a Bearish break out.

Reversed Head and shoulders:

The last shown pattern can also occur in a reverse aspect. Same rules are applied and it doesn’t matter if the state of the market is Bullish or Bearish. As long as you see the pattern and wait till the neck is broken to step in your good.

Once you’ve decided to setup a long term position, your Stop-loss has to be placed around the level of the right shoulder. Just like you’ve calculated the target level on the head and shoulder pattern, you should now measure the distance between the low of the head and neck. Don’t forget to duplicate it in the breakout point.

Underneath a clear example of the reverse head and shoulder formation.
head and shoulders pattern

Best Broker: IcMarkets.

Price Action Technical Chart Analysis

Price Action Technical Chart Analysis

Price Action

Price Action – Forex Bootcamp

Technical chart analysis is the multiple patterns the chart shows and all forms of price action. Also the overall analysis and the movement of the market over a certain time period. A soon you’ve learned to master the price action and how to determine the price action. You are ready to make a benefit of certain movements in the market.

Price Action is making the most of your trading decisions on a clean chart. Free of indicators and influences from the past. You could add the moving average for some extra help.

Since Price Action reflects al variables of a certain market over a certain period with the help of price indicators as Stochastic or MACD. You won’t need all the other indicators since they simply just distract you. Only the information you need to make a winning strategy is the raw movement of the market.

Price Action Analysis with TheForexScalpers

As told before, economic variables will move the market as well. Think of what I told you about fundamentals.
Movements like this are clearly recognizable. Just for the fun of it you should look up the chart of GBP/USD. Around the Brexit Referendum you will see a clear drop in the value of the GBP.

Price action analysis make use of the overall cure price data. That’s why this strategy could be used on every trade at the financial market. Before starting Price Action strategy make sure you start with a clean sheet. Remove all other distracting indicators in the past.

There is a big difference between charts with indicators and charts without. Example underneath will show you the difference. Take a look at both charts and tell me which one looks easier to analyze? Also charts with lots of indicators won’t give you more information. They only give you distracting information from the past that you really don’t want to know.

Price Action

Price Action

Price Action

Before we move on training your technical skills it’s important knowing the different time frames. Which time frame to use and which one not to use.
The Top Down analysis is an interpretation of the components of the ‘bigger picture’ and there of you go look at the smaller components. The most common time frames used for a forex analysis:

Monthly, Weekly, Daily, 4 hours, 2 hours, 1 hour and 30 minutes.

For a trader it is really important looking at the long term. Is there a visible trend or did the pair stay still land stabile? Support and resistance levels and other patterns are important by analyzing the long term. For example: You start looking at the monthly and weekly charts before the market opens at Sunday night.

Best Broker: IcMarkets.

Losing Trades

Losing Trades

Losing Trades

Losing Trades / The pitfalls.

99% of the traders make mistakes. So here are the most common mistakes for you so you hopefully won’t make the same mistakes.

Losing trades:

Losing trades are just another day at the office. It’s just that simple. Don’t let them get to you. Every trader on Wall Street or trading from his home office will face losing trades. A trader with a 80% success ratio will still lose 20 out of 100 trades he makes. Keep your risk tight, safe and disciplined.

Losing money:

Unfortunately 90% of all traders are losing traders. They lose their confidence, start doubting themselves. This encourages them to pay for bad Forex services or even desperately let other “winning” traders trade on their account. Again, there are many people with no winning track record willing to help you for a certain price. Don’t be desperate. Your will land power is all you need!

Most important reason for repetitive losing traders:

Losing Trades – Chart Loonatic:

There are lots of fundamental impacts that could easily distract a trader. Also there are a ridiculous amount of trading systems and trading software, which have lots of indicators and templates etc. As a trader you’ve got to filter these indicators and narrow them down to the ones that matter the most for your own strategy. WARNING: This could be difficult for a beginning trader.

It’s not necessary to spend hours and hours behind the screen analyzing the news or charts. Keep it simple and stick to what you need. Keep it organized.

Losing Trades

Losing Trades – Over-Trading:

Most traders lose money simply because they trade too much. We call this over-trading. Over the years we have learned that traders succeed on their demo account but once the real game begins they start losing. Once your real money is on the line your emotions are kicking in. Prove that emotions can kill your account. Over-traders purely trade on emotions.

Everything comes down to your technical skills and not your emotions. So try to create an environment with little to no emotions for yourself. This is done be being organized and having a plan.

Losing Trades – Why Risk Management is so important:

Risk management is vital for success, safety and sustainability in Forex trading. Risk management won’t let you lose more on a trade than your comfortable with. Lots of traders forget about the chance of losing on a trade. Ask yourself this question: “Why would you take more risk than your comfortable with?”

Even if you are one of the best traders or you have this unique talent to see the right spot to step in a trade. Without good risk management you will never be a successfull trader on the long term. Basic knowledge is to always go for more PIPS as your willing to lose.

Aim for the money not for the PIP:

Remember Forex is a job not a casino. Traders who approach the Forex market as a gambler or as an addict to money won’t make the right decisions. He will start thinking irrational and make mistakes. So don’t think of in dollars but think in PIPS.

Losing Trades

Let me break that down for you. When your mind is on the money and you think in dollars your risk management won’t work most of the time. There is always this voice of the devil in your head saying “What if…” Or “Maybe this or that will happen”. Stop thinking like this. Get these dollar signs out your eyes and start think like a real trader. It’s not that easy as use a couple of big lot sizes and flee the scene when your positions are positive. So always calculate your wins and losses in PIPS. Always trade with more or less the same volume. You trading plan has to have PIP goals and PIP risks. How many PIPS do I want to win? Or how many PIPS do I want to risk with this trade?

Losing Trades – No Game Plan:

Most common made mistake is not having a game plan at all. Traders just start out of the blue without a real strategy or plan. If your watching sports, do you think the athletes don’t have a game plan? I bet you a $100 that every team or individual athlete has a game plan. Don’t think like all the other traders “I’m going to make my plan after I’ve done a few trades”. You will end up with an empty account.
Right thing to do is keep track of your trades. Make reports of your trades (a trade journal) so you can look back at what you did and maybe change your tactics a little bit. Organized work like this will help keeping your emotions out of the game as well.
Remember that the game plan you started with doesn’t have to be the winning one, so call a time out, look back and adjust to a winning game plan. Pretty cool right! You can be the coach of your own professional sports team!

Losing Trades / From demo to a real account:

After a few successful trades on your demo account it’s tempting to switch directly to a real money account. We completely understand this hunger of you. And why wouldn’t you? After all you’ve just made a few winning trades. The Forex world is all yours baby! STOP right there! Don’t make this mistake unless you have a good strategy and master the strategy of price action trading. If you don’t? Keep playing on your demo account until you are consistently successful for 3 to 6 months. This is a really important lesson. You won’t dive in a deep swimming pool not being able to swim right?

Losing Trades

It’s just a big difference between a demo and real account. Once your trading with your own real money emotions will get involved. That’s why you need to take your time and wait to your completely sure of yourself. If not, keep practicing. As told before: “Practice makes perfect”.

Best Broker: ICMARKETS.

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