Can you make money with second scalping in FX?
Can you make money with second scalping in FX?
A detailed explanation of second scalping methods and entry points
What is second scalping in FX?
What is second scalping in FX?
Second scalping is a trading method where transactions are executed in just 1 to a few seconds.
From here, we will explain the second scalping method in detail.
We will explain the definition of the second scalp method, the difference between scalping and second scalping, and whether you can make money by using second scalping.
What is second scalping?
Second scalping is a trading method in which buying and selling is done in a very short time of 1 to a few seconds. It is similar to scalping, but scalping is a method of buying and selling in a few seconds to a few minutes, while second scalping is a transaction in which buying and selling is done in a shorter time than scalping.
Since it is a transaction done in an extremely short time, some people repeat buying and selling hundreds of times a day. Second scalping is effective using "price action", which judges price movements from the shape of candlesticks.
Price action is an analytical method that analyzes FX price movements and judges the market situation.
Since it is a transaction done in an extremely short time, some people repeat buying and selling hundreds of times a day. Second scalping is effective using "price action", which judges price movements from the shape of candlesticks.
Price action is an analytical method that analyzes FX price movements and judges the market situation.
Is it true that "second scalping is not profitable"?
Unlike "swing trading," which aims for larger gains over longer periods, second scalping focuses on steady profit accumulation, even though each trade yields smaller returns.
Also, when you are not making a profit with second scalping, it is often because you have not been able to cut your losses, and the key is how quickly you can cut your losses when the market moves opposite to your prediction.
Since second scalping is a method of buying and selling FX in a short period of time, the profits you can make from one transaction are not large. However, second scalping has a low risk of exchange rate fluctuations and allows you to trade without being influenced by emotions, so there is a low chance of unexpected losses.
Also, when you are not making a profit with second scalping, it is often because you have not been able to cut your losses, and the key is how quickly you can cut your losses when the market moves opposite to your prediction.
Since second scalping is a method of buying and selling FX in a short period of time, the profits you can make from one transaction are not large. However, second scalping has a low risk of exchange rate fluctuations and allows you to trade without being influenced by emotions, so there is a low chance of unexpected losses.
[FX] Is second scalping prohibited?
[FX] Is second scalping prohibited?
Many overseas FX exchanges prohibit scalping, which is a transaction that is completed in a very short time, due to factors such as market liquidity.
Also, be careful because if you continue to trade for very short periods of time with an account that prohibits scalping, your account may be frozen. On the other hand, FxPro allows scalping, which has the appeal of allowing you to second scalp without worrying about the risk of your account being frozen.
If you want to trade FX using second scalping techniques, we recommend using FxPro, which offers attractive trading conditions.
Three advantages of second scanning
Three advantages of second scanning
From here, we will explain the advantages of the second scanning method and the benefits of using it.
There are three advantages to second scanning.
Advantages of second scanning:
- Many entry opportunities.
- Low risk due to exchange rate fluctuations.
- Trading that is not influenced by emotions.
- Many entry opportunitiesThe fact that there are many entry opportunities can be said to be an advantage of second scanning. In swing trading, which involves buying and selling over a period of 2-3 days to a few weeks, you may not be able to trade even if you have been analyzing FX all day.
However, since second scanning has hundreds of trading opportunities per day, it is a recommended method for those who are busy and cannot analyze FX prices all day.
In addition, the number of transactions is higher than other trading styles, making it easier to gain experience. - Low risk due to exchange rate fluctuationsSecond scanning has the characteristic that the position holding period is extremely short, so there is a low risk of sudden exchange rate fluctuations while holding a position.
In addition, since there is a low possibility of unexpected large losses, second scanning is recommended for those who do not want to incur large losses. - Trading without being influenced by emotionsThe third advantage of the second scalping method is that it is quick from entry to settlement, and emotions are less likely to be influenced by price movements while holding a position.
Second scalping also has clear stop-loss rules, so you can trade mechanically.
Therefore, if you are doing FX and have lost money because you quickly close a trade when the price moved negative, second scalping will allow you to accumulate profits without being swayed by emotions.
Three disadvantages of second scanning
Three disadvantages of second scanning
We have just explained three advantages of second scalping. To summarize briefly, second scalping is a method that allows you to steadily build up profits because trades are made in just a few seconds and are not governed by emotions.
Now, let's look at the disadvantages of second scalping.
Disadvantages of second scalping:
- Spreads (fees) are charged.
- Profit margins are small.
- You need to be glued to the chart screen.
- Spreads (fees) applyForex trading incurs a spread, which is an effective fee, for each transaction. Therefore, be careful when doing second scalping with a large number of transactions, as the amount of spreads can accumulate and become large.
If you want to do second scalping, choose an exchange based on the overall fees, including spreads and transaction fees.
FxPro's Pro account has the lowest fees among overseas FX exchanges, so it is recommended for those who want to do second scalping. - Small profit marginSecond scalping involves trades that last only a few seconds, so positions are held briefly, resulting in smaller profit margins. A drawback of second scalping is that it doesn’t allow for large single-trade profits, as the risk of significant loss is minimal.
The strategy relies on accumulating small, consistent gains rather than large returns. - Constant focus on charts is requiredIn second scalping, where seconds matter, you need to stay focused on the chart throughout the trade.
Unlike swing trading, which requires monitoring charts over longer periods, second scalping demands only brief but intensive attention. For those who prioritize price action, tick charts may be helpful as they respond faster than one-minute charts, updating frequently for better accuracy.
Second scalping requires concentration because if you miss the timing to take profits or cut losses even slightly, your losses will increase.
Basic method of second scalping
Basic method of second scalping
Now let's explain how to do second scalping. Second scalping can be done in the following three steps.
How to do second scalping:
- Decide entry on 1-minute chart
- Fixed stop loss
- Flexible timing for taking profits
① Decide entry on 1-minute chart
Second-scalping determines the entry timing on 1-minute charts. Then, enter against the trend with contrarian trading and aim for the rebound point to take profits. The reason for contrarian trading is that the entry point is clear.
Contrarian trading is a method that aims for a rebound of a decline or rise, while trend following is a method that starts buying and selling when the price continues to rise or fall. With trend following, the position becomes more disadvantageous as the start of trading is delayed, so it is difficult to enter.
However, with contrarian trading, it is easier to enter because the points to buy and sell are clear, such as short (selling) at RSI 70, long (buying) at RSI 30, and entering at ±3σ of Bollinger bands.
If you place more importance on price action, you can use ticks or use 5-minute or 1-hour charts to check medium-term market movements.
② Set a fixed stop loss
When using second scalping, it is important to set a stop loss line in advance. It is difficult to instantly determine a stop loss for each transaction, so this is recommended for advanced users. For beginners to second scalping, it is recommended to fix the stop loss width at 5 pips.
③ Be flexible with the timing of taking profits
The key to taking profits in second scalping is to be flexible with the timing of taking profits depending on the transaction.
When using second scalping, it is safe to take profits when there is unrealized profit, and if the chart continues to rise (fall) more than expected, you can maximize your profits by placing a split order.
However, it takes some experience to change the profit taking based on the momentum of the price movement.
② Set a fixed stop loss
When using second scalping, it is important to set a stop loss line in advance. It is difficult to instantly determine a stop loss for each transaction, so this is recommended for advanced users. For beginners to second scalping, it is recommended to fix the stop loss width at 5 pips.
③ Be flexible with the timing of taking profits
The key to taking profits in second scalping is to be flexible with the timing of taking profits depending on the transaction.
When using second scalping, it is safe to take profits when there is unrealized profit, and if the chart continues to rise (fall) more than expected, you can maximize your profits by placing a split order.
However, it takes some experience to change the profit taking based on the momentum of the price movement.
Points to note when doing second scans in FX
Points to note when doing second scans in FX
✅Points to keep in mind when doing second scalping
- Pay attention just before and just after the release of an index
- Choose a broker with a narrow spread
Let's start with ①.
①Pay attention just before and just after the release of an index
Price movements are active around the time of the index announcement, so care must be taken when doing second scalping.
The market price after the index announcement may move up or down significantly, so it is considered high risk. It can also be said to be an advantage that the market price can jump up and down significantly, making it easier to aim for large profits.
② Choose a broker with a narrow spread
When doing second scalping, it is essential to choose an exchange with a narrow spread.
Brokers with wide spreads have high trading fees, and second scalping requires a fee for each transaction, so choose an exchange with a narrow spread.
FxPro's Pro account is the best in the industry, with narrow spreads, making it the perfect account for second scalping. It is recommended for those who want to reduce trading fees and want a second scalp with a narrow spread. Check it out from the link.
①Pay attention just before and just after the release of an index
Price movements are active around the time of the index announcement, so care must be taken when doing second scalping.
The market price after the index announcement may move up or down significantly, so it is considered high risk. It can also be said to be an advantage that the market price can jump up and down significantly, making it easier to aim for large profits.
② Choose a broker with a narrow spread
When doing second scalping, it is essential to choose an exchange with a narrow spread.
Brokers with wide spreads have high trading fees, and second scalping requires a fee for each transaction, so choose an exchange with a narrow spread.
FxPro's Pro account is the best in the industry, with narrow spreads, making it the perfect account for second scalping. It is recommended for those who want to reduce trading fees and want a second scalp with a narrow spread. Check it out from the link.
If you want to do second scanning for FX, go to FxPro.com
If you want to do second scanning for FX, go to FxPro.com
Second scanning does not allow you to make a large profit in one transaction, but the chances of suffering a large loss are low and it is possible to steadily make profits. Furthermore, unlike swing trading, there are many opportunities to enter during the day, so you will not be unable to trade and will not accumulate stress.
Also, since the risk due to exchange rate fluctuations is small, it is characterized by the fact that unexpected losses are unlikely to occur. Furthermore, since the time from entry to settlement is quick, your emotions are less likely to be influenced by price movements while holding a position, and you can steadily accumulate profits.
Summary of this article:
Second scalping in FX is a recommended method for those who want to steadily make profits. Since you will be holding many positions, it is also suitable for FX beginners to improve their trading skills.
For those FX beginners, we recommend FxPro.com. Please try FxPro, which has one of the best accounts, low spreads, and a high-quality trading environment.
If you want to trade FX, go to FxPro.com!
- Second scanning is a trading method in which buying and selling is done in a very short time of 1 to a few seconds.
- The advantages of second scanning are that there are many entry opportunities, the risk of exchange rate fluctuations is small, and trading is not influenced by emotions.
- The disadvantages of second scanning are that a spread (fees) is charged, the profit margin is small, and you need to be glued to the chart screen.
Second scalping in FX is a recommended method for those who want to steadily make profits. Since you will be holding many positions, it is also suitable for FX beginners to improve their trading skills.
For those FX beginners, we recommend FxPro.com. Please try FxPro, which has one of the best accounts, low spreads, and a high-quality trading environment.
If you want to trade FX, go to FxPro.com!
Why Trade with FxPro?
Why Trade with FxPro?
- Wide Asset Range: Access over 70 currency pairs, plus commodities, indices, shares, and futures.
- Multiple Trading Platforms: Choose between MetaTrader 4, MetaTrader 5, cTrader, and FxPro’s proprietary trading platform.
- Advanced Risk Management: Benefit from FxPro’s negative balance protection to safeguard your account.
- Tight Spreads: Competitive spreads and deep liquidity for efficient trading.
- Trusted & Regulated: FxPro is licensed and operates under strict regulatory oversight, providing a secure trading environment.
- No Dealing Desk Execution: Trade with market-leading speed and without interference.