There are many ways to prepare yourself to be a scalper, one of them is learning from the best forex scalping books.

Scalping can be a gateway to earning profit in a short time. The idea of it sounds very alluring for many traders, especially the new ones. After all, who doesn't want to earn profit in one day? However, scalping comes with a lot of risks. That's why professional traders normally don't recommend scalping for newbies with no adequate preparations.

Scalping strategy

Let's start from the basics. What is scalping and how does it work? In short, scalping is a trading style that specializes in profiting out of small price movements, as well as making quick profits within a short time. It's a very fast-paced trading style and requires traders to open and close positions within a short period of time. As such, scalpers need to have a deep understanding of the price movements.

Scalping gains a lot of popularity because it uses small time frames. Traders only need to hold their positions in a short time since the observations on the market are limited. They usually get smaller profits compared to long-term traders, but since they are most likely opening and closing tons of positions throughout the day, the profits can be accumulated. Scalpers normally only care about spreads and do not pay attention to the actual market conditions, even when it's moving sideways. They only observe the price volatility in a certain period.

Due to the nature of the scalping strategy, scalpers need to stay focused and give more attention to price movements. They should be very careful in opening and closing the positions and pay attention closely when deciding where to place stop loss and target profit. They should be consistent in calculating the lot size since it will affect the results. Normally, scalpers will use a combination of analysis on the price movements to make decisions, which includes candlestick patterns, price actions, and many more.

To get better results, traders usually utilize the sudden movement of price to take profit quickly. Sometimes, they might be using the gap that happened in the moment of fundamental news release to open a trade.

Now, you might get used to the idea of scalping. But that doesn't necessarily prepare you to start taking profit through scalping. When it comes to forex trading, it's best if you make several preparations before actually entering the market. There are several ways to get you ready, and one of them is by learning from the best scalping books. Here is a few examples of them:

 

1. Forex Price Action Scalping: An In-depth Look into the Field of Professional Scalping

Forex Price Action Scalping by Bob Volman is one of the best scalping books if you aim to be a professional scalper. Volman has a unique way of helping readers to understand more about the subject, and help them get a new point of view regarding scalping. He didn't sugarcoat or hold back, so it feels like readers get the best experience of understanding what scalping is really about.

best scalping book

This book mostly consists of countless charts with detailed scalping strategies that include entry and exit rules. Volman uses actions principles to help readers prepare for the real market. Other than technical factors, Volman also includes the psychological side of scalping and clever accounting. He understands the importance of keeping your psychological trading in check in order to face any market conditions.

 

2. E-mini Dow and Mini DAX Scalping Techniques

This book was written by Teva Lama and is truly one of the best scalping books you can't miss. Its comprehensive discussions on the subject of scalping can help readers prepare for the real market. Lama's knowledge of scalping is exemplary. He doesn't only cover the basics, but also different tools to adapt your trading strategies to cope with different market phases.

best scalping book

Lama also teaches his reader not to leave any room for market sentiments by utilizing automated trading. He uses his most recent ideas to teach about the market. This book is mainly about e-mini Dow and mini DAX scalping techniques, but they're also applicable to any other situation.

 

3. Scalping is Fun! 1-4: The Complete Series

This is one of the best scalping books that come in four series. It is packed with scalping knowledge, strategies, techniques, and insights. In the first book, you will learn how to fast trading using the Heikin Ashi Chart. This is where you learn about the basics of trading and scalping, perfect for newbie traders. You will also learn about scalping trade setups, risk and money management, as well as making a decision.

best scalping book

Book 2 consists of Practical Examples with technical analysis, interpreting Heikin Ashi Charts, enter/exit strategies, and many more. In Book 3, you will learn about the trading journal, the importance of the first twelve weeks in scalping, and scalping as a business. Lastly, Book 4 deals with when to trade, when not to trade, the best trading hours, as well as scalping disciplines.

 

4. Scalping Trading Top 5 Strategies: Making Money with the Ultimate Guide to Fast Trading in Forex and Options

This Andrew C. Ellis' work is a staple if you want to be a scalper. There are a few reasons why this is one of the best scalping books for you. First of all, the book discusses five main strategies for scalpers thoroughly. These strategies have been proven in forex and options markets. There are detailed chapters about each strategy in a way that helps readers put them to work right away. Andrew C. Ellis also tells you different methods to minimize the risks. Not to mention, the language is very easy to understand, even for beginner traders.

best scalping book

 

5. Forex Scalping Trading Strategies: How To Earn A Living Scalping Profits

Forex Scalping Trading Strategies by Thomas Carter is one of the best scalping books for traders who are looking to earn more money through this method. Some scalpers might be dissatisfied with the amount of money they get through scalping. Thomas Carter aims to teach such traders how to trade profitably. He also helps them to master a few forex trading systems through this book. Some different types of forex scalping trading strategies can also be found here to help you identify what makes the best trading system that works for you.

best scalping book

 

6. The Electronic Day Trader: Successful Strategies for On-line Trading

This book was written by Marc Friedfertig, George West, and George Peicznik. This is technically a day trading book, but it gives readers a lot of insights regarding scalping. The authors offer a lot of trading strategies that can help you become successful at this fast game of speculation and timing. They believe that short-term trading is a game and a never-ending challenge one should overcome. This book goes into great detail about various stock exchanges and shows direct access to the NASDAQ through various electronic trading systems.

best scalping book

 

After Thoughts

While it's true that scalping might bring you lucrative profits, it also comes with several risks. For example, not all brokers might allow scalping. That means you have to do a thorough check to find out whether your broker allows scalping or not, and whether they put some restrictions on the implementation of the strategy. To make sure you are actually ready for scalping, you can practice using a demo account and try different scalping strategies.

 

Gaining profit through scalping can be difficult, which is why you need a good broker to assist you. So, find out which broker is great for scalping.