Indicators For Scalping, please post here

[lionheart]

Hello everybody,

This is my first post here. I really appreciate all the information that everyone shares so freely here, it is extremely helpful to a newbie like myself.

My question is this: I have looked at the main brokers out there and have found that they do not favour short term, small pip "scalping", the price slips or the dealing table holds up your order and I wondered if there were any brokers that anybody out there knew of who did not do this. The problem seems to be that for every broker that you find there are some traders who have had good experiences with them and there are other traders who have been scammed by them. It is really hard to find any that seem consistently reliable and straightforward.

I am based in the UK and trade using the MT4 platform.

Thanks a lot

Richard the ...

[tymen1]

I am trading the GFT platform thro an Introducing broker in Australia.

I have phoned GFT, Australia, and explained my desire to scalp. They told me that I can do whatever I wish, as long as I click on the price shown on the chart.

That then is easy. I can certainly click on their prices and, thus, scalp.

I persisted with my enquiry, and they had no problems with my method of scalping using them as broker.

Hope this helps.

[ForeX Capitalist]

Yeah I love scalping. lionheart im workin on MT4 i like how they have FIB expansions (extensions) for free and you dont have to get Xtick or that topgun software stuff. as for GFT working on their platform seems slow to me compared to FXCM. I used to do GFT charts + FXCM dealing window for the maximum effect. just my 2 cents.


-ForeX Capitalist

[ForeX Capitalist]

Another 2 pips of mine. If your PC or laptop can handle it which I hope it should or else you shouldn't be trading with forex on slow specs. Is use MT4 for charting and FXCM as your broker because they dont care about scalping because they have too much capital anyway. MT4 has all the sufficient charting tools BB RSI STOCH All fibs + expansions all free. But you gotta trade minis cant trade them micros with fxcm @ least not that i heard of yet. micros are good with Oanda though but i question their spreads compared to FXCM. in real time for example i see Oandas spreads for EUR/USD as 1.4665(S)/1.4675(b) while the same spread for FXCM is 1.4669(s)/1.4673(b) 10 pip spread vs 4 pips adds up to some good change in your pocket if you use FXCM. i heard Oanda is good but im still testing them out.


-ForeX Capitalist

[raging bull]

Id like to share this with you guys, this is a tried and proved method...good reading

[muddbuddha]

Originally Posted by tymen1

I am trading the GFT platform thro an Introducing broker in Australia.

I have phoned GFT, Australia, and explained my desire to scalp. They told me that I can do whatever I wish, as long as I click on the price shown on the chart.

That then is easy. I can certainly click on their prices and, thus, scalp.

I persisted with my enquiry, and they had no problems with my method of scalping using them as broker.

Hope this helps.

Yeah, the whole not allowing scalping thing erupted from some creative methods to trade inside the spread which was depriving the broker of the spread payment. There were even traders selling it as a trading system and made a lot of money by cheating....more or less, and teaching others how to.

Several traders got put on manual orders, and would ***** online that their broker doesn't allow scalping without admitting that they were cheating them in the first place. This happened at several of the mini lot brokers that have fixed spreads so they rely heavily on those as their bread and butter income. For varying spread brokers, like Oanda, the impact wasn't so great.

It seems as though the whole thing has settled down in the last year or two.

[ForeX Capitalist]

Thats good reading thanks for sharing. I'm hoping to write a lil something like that with more experience.


-ForeX Capitalist

[tymen1]

To Muddbuddha :

Yeah, the whole not allowing scalping thing erupted from some creative methods to trade inside the spread which was depriving the broker of the spread payment.

Thanks for posting this information - I was genuinely not aware of this. It was very unexpected information.

Now I know.

[jlmac27]

Raggingbull,
Nice little read there.Do you think this goes for different timeframes also?I would think so this is pretty much laws of price action correct?