Becoming a scalper
Mitglied seit Nov 07, 2020
15 Posts
Dec 08, 2020 at 11:26
Why stick to just Scalping? I find it very risky and uncertain. And as far as the broker goes, most of them don’t restrict using any strategy so just pick a respectable one.
Mitglied seit Nov 03, 2020
4 Posts
Dec 08, 2020 at 13:40
I am currently in position on the DJ.
Tarket at 29 930 PIP😎
Tarket at 29 930 PIP😎
Silver Nest "Nous connaissons la bonne manière de négocier"
Dec 08, 2020 at 13:41
I tried scalping as a newbie. Ultimately it is a losing strategy and the tension of very short trades will wear you down. Remember there is the problem of the charges of spreads going in and going out (although most trading platforms hide the going out charge). It is hard to scalp with a risk to reward ratio of at least 1 to 2 because your stop losses will be hit frequently because of the normal wobble of the market. And if you add more risk (higher stop losses than your target to prevent that) one maximum loss is hard to make up.
Example: Set a SL for 30 pips and profit taking at 5-8. How many trades with profit of 8 pips will it take to make up for one loss and don't forget to include the spreads in and out????
You are trading against the banks and other big boys like hedge funds. They don't scalp and make lots of money off of scalpers. Their goal is to take your money and they are pros at that, wouldn't you say??? You need to think like them and set a target of 55 pips. Why? That's the minimum target they use. The reason is they use the Fibonacci sequences to signal other big boys and knowledgeable traders what they are doing.
Try trading both ways on a demo account and see which one works over time
Example: Set a SL for 30 pips and profit taking at 5-8. How many trades with profit of 8 pips will it take to make up for one loss and don't forget to include the spreads in and out????
You are trading against the banks and other big boys like hedge funds. They don't scalp and make lots of money off of scalpers. Their goal is to take your money and they are pros at that, wouldn't you say??? You need to think like them and set a target of 55 pips. Why? That's the minimum target they use. The reason is they use the Fibonacci sequences to signal other big boys and knowledgeable traders what they are doing.
Try trading both ways on a demo account and see which one works over time
Mitglied seit Jun 22, 2020
77 Posts
Dec 18, 2020 at 11:57
You can try out MT4/MT5 with Fxview, they have a good trading conditions specially made for scalping. Low commission and tight spreads with instant order execution.
Mitglied seit Jul 20, 2020
341 Posts
Dec 19, 2020 at 13:30
Gareylinn509 posted:Thanx for your advice. I also like scalping. It will help me to make my decisions easily.
Honestly, I like scalping too. The profits are great but there are 3 things that you should consider before starting.
Pay close attention to placing all the trades carefully
Use the right tools for the live feed
Get a direct access broker
Mitglied seit Aug 25, 2020
7 Posts
Dec 27, 2020 at 21:02
Scalping, if done correctly and with a good strategy, could give you peace of mind having no trades open while you go about your daily activities.
Lastly, Stick to your rules or it could be your biggest failure.
Lastly, Stick to your rules or it could be your biggest failure.
Master your emotions first, you will defeat the markets.
Mitglied seit Dec 05, 2020
81 Posts
Dec 30, 2020 at 06:09
ImanTheTrader posted:
Scalping, if done correctly and with a good strategy, could give you peace of mind having no trades open while you go about your daily activities.
Lastly, Stick to your rules or it could be your biggest failure.
Do you scalp too? Is it profitable?
forex_trader_589624
Mitglied seit Dec 10, 2018
5 Posts
Dec 30, 2020 at 08:28
Hi, I only do scalping in the M5. Only one pair (GBP/USD), with SL = 15 pips e TP = 5 pips.
Mitglied seit Aug 27, 2017
121 Posts
Jan 06, 2021 at 13:54
@mdundifx are you a consistently profitable scalper? I'd love to hear more of your experience with scalping. I've been testing a couple of strategies so I want to gain more idea.
Trading is a marathon, not a sprint.
Mitglied seit Oct 26, 2020
29 Posts
Jan 20, 2021 at 09:58
Scalping is great but make sure you have some good idea of entry and exit points. Will help you a lot later. Good luck.
forex_trader_745947
Mitglied seit Jul 08, 2019
57 Posts
Mar 08, 2021 at 18:03
Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.
Thank you.
Mar 09, 2021 at 05:08
GlobalScalper posted:I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.
Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.
The more your practice, the more you learn.
forex_trader_745947
Mitglied seit Jul 08, 2019
57 Posts
Mar 12, 2021 at 20:17
ele020 posted:GlobalScalper posted:I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.
Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.
Well, It's a profitable strategy for a while but if your strategy is so strong then you might sustain over a year but eventually, you'll lose all of your money after one year+.
That's why it's called 'Profitable Scalper doesn't exist after one year.
Thank you.
forex_trader_745947
Mitglied seit Jul 08, 2019
57 Posts
Mar 12, 2021 at 20:22
Antonio_K posted:
What makes you say that? Any experience worth sharing?
The only worth is when you would start scalping with your own money you'll understand everything. The market is the biggest teacher.
Have a nice day.
Mitglied seit Aug 27, 2017
121 Posts
Mar 15, 2021 at 09:02
GlobalScalper posted:Isn't it ironic that you are 'GlobalScalper' and yet you say that it's a losing strategy? My point is that scalping is just a strategy like swing and positing trading. It may not work for you but it doesn't mean that all of the scalpers are not good. I'm sure there are some that has been in this business for a long time and has been making money using a scalping strategy. We may not know it because not everyone wants to talk or brag about it. I know a scalper that's been making money for 8 years so your opinion, my opinion, or other's opinion doesn't matter because he is making money. Scalping works for sure but it takes so much effort and discipline.ele020 posted:GlobalScalper posted:I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.
Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.
Well, It's a profitable strategy for a while but if your strategy is so strong then you might sustain over a year but eventually, you'll lose all of your money after one year+.
That's why it's called 'Profitable Scalper doesn't exist after one year.
Thank you.
Trading is a marathon, not a sprint.
forex_trader_745947
Mitglied seit Jul 08, 2019
57 Posts
Mar 15, 2021 at 20:29
@8christianpaul8
Isn't it ironic that you are 'GlobalScalper' and yet you say that it's a losing strategy? <<<<< No, it's not ironic, It means is that what I've stated, I know the full facts of it. To be flat out: no one knows about Scalping better than a Scalper. ;)
I'm sure there are some that have been in this business or a long time and have been making money using a scalping strategy <<<<<<< well, You're not sure actually it's just your imagination.
Again: 'Profitable Scalper doesn't exist after one year'
Isn't it ironic that you are 'GlobalScalper' and yet you say that it's a losing strategy? <<<<< No, it's not ironic, It means is that what I've stated, I know the full facts of it. To be flat out: no one knows about Scalping better than a Scalper. ;)
I'm sure there are some that have been in this business or a long time and have been making money using a scalping strategy <<<<<<< well, You're not sure actually it's just your imagination.
Again: 'Profitable Scalper doesn't exist after one year'
