Please, as the question title says, are volatile currency pairs, especially the majors that are volatile, good for scalping?
Depends on your strategy.
It depends on your strategy, on the pair, even on the server connection your broker provides you with.
My strategy involves not being greedy but taking 10-20 pips per trade. I will try volatile pairs on Marketmilk and see how it goes with the strategy on a demo.
it depends on the spread- the lower the spread, the higher the profit for taking just some pips, and the higher the probability your trade is a winner.
if you take 10-20 pips, this is not really scalping.
Typical scalping looks like that, just take profit between 0,5 pip and some more-thats a test with positions only worth 3,5 EUR-that means the profit of 1,2 EUR after 20 trades is approx. 40% of the stake.
By the way-look how much profit that f… commission takes away…
I thought trading on the M5 TF was scalping because that is what the strategy recommends. I have not found a broker in my country with low spreads. The lowest has a 0.4 pip commission attached.
I see, so its not your own strategy but a kind of EA from another person?
No, it’s not an EA but manual trading.
I think there is no broker out there with low spreads (close to almost zero) and zero commissions. You’ll have to search for low spreads and a low commission broker. That’s what I did. Found turnkey forex, spreads are low (just like your broker) and commission charges are only $2/100k RT.
Better look for such brokers. You‘ll find many names here: going offshore to escape CFTC.