Hello
I am new to trading and I would like to learn more about scalping. I think trading to pick
10 pips / trade is a scalp. Is it? If this is true can you actually make money trading
like this? Are there any good stategies out there for scalping?
thanks in advance
jase
Did you read any threads before posting this? Google search even? There’s lots of info about scalping on this site awell as other forex trading forums. Since your new here’s a nudge in the right direction Mad Scalper. A bit of advise scalping may sound easy but consistently getting those 10 pips without taking larger losses is more difficult then is sounds.
Best of luck to ya,
10pips
Its hard to trade this way.
Its stressful because to make any money the trade size has to be pretty big. You have to be at the screen for a long time to catch your set up. If you can handle that think about the spread. If your trading EU and you have a spread of 1.7 pips that’s 17% of your goal! Your stop will need to be 8 pips just to get close to a 1:1 RR. I wouldn’t trade with a lower the 1:1 unless the win rate is very high over a very long sample of trades.
So if you can overcome all of that yes you can money scalping for 10 pips.
As hard as it is to make money for a newbie on scalping, but it has it’s own merits too. i started out by scalping, probably due to the golden lure of “just a few pips a day, how hard can it be” mentality. However as I found it more and more hard, I started switching from 1-5min to 15, 1hr , 4 hr and daily. The good thing is, when you get used to the noise on the lower timeframes, the higher timeframes kind of become clearer (with lesser noise).