When it comes to Forex investing there are really two kinds of traders. There are those who employ long term strategies and ride trades up and down looking for the home run. Then there are scalpers, who take lots of trades looking to get a few pips here and there. If you are a short term trader, then it makes sense to find an excellent scalper ea.

For folks who aren’t aware, an EA is short for Expert Advisor. An Expert Advisor is software that employs automated trading techniques usually in the MT4 platform. There are literally thousands of EA’s out there with some focusing simply on scalping techniques.

Before selecting a scalper ea it is important to find the right broker. A lot of brokers do not like scalping and have higher spreads for these kinds of trades. A higher spread of just a couple pips can be the determining success for a particular EA trader. Doing a simple Google search for the best broker for scalping should help.

Not all Expert Advisor scalpers are created equal. You want software which can trade on multiple currency pairs (most do not have this option). Some currency pairs are extremely effective with this strategy, while others not quite as much. The important thing is to test and tweak until you have found profitable settings.

Another huge factor in scalping success is money management. Without proper money management an entire account can be wiped out. You will notice many Forex EA’s do not have stop losses. This not the kind of program you want. For Forex scalping it is important to choose an Expert Advisor with stop losses and other excellent money management techniques.

So to recap, first find an excellent scalper ea to trade that has multiple currencies and excellent money management. Then choose the right broker to trade the software on. By making the right choices you will be way ahead of the curve and on your way to Forex success.

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Douglas Smith, one of the authors of the FxAI blog has been making a full time living trading the Forex for several years. Over this time he has tested and reviewed many of the top automated Forex trading systems.