Hello again, so I am reading and understanding forex more now. But I want to ask: I think I might like scalping.
Is scalping really successful thou? And which time zone really favors the scalper?
I would appreciate if you select which type of trading you engage in if you comment .
Thank you
Scalping is a day trading strategy which help a trader to make quick and small profiys and after making small profit they close their trades.A trader must do sscalping on that time when there is no volatility in the market and Asian session would be great for scalping.
Save up $250
Open a demo account.
“Scalp” the EURUSD for 5 days on demo
Deposit $250
“Scalp” the EURUSD until the money is gone or until you make $1m
If the latter, ride away into the sunset
Don’t make it more complicated then it needs to be
Read about it in the school of pipsology, I need to revisit again
when you have good money management plan , according to me , all time is more appropriate for you to bring profit with certainly. so create good MM and earn more money.
according to me, success on scalping depends on your trading spreads , if you have lowest spreads then there is a chance to bring good result by means of scalping that brings profit in a short time.
Scalping helps you make short term profits. The best time for scalping is when you are confident about your strategy and have extensive knowledge on it. For scalping, you must go for a broker that is cheaper in terms of costs as a scalper cannot compromise on costs.
actually which time is more appropriate for scalping its very complicated to answer , because there is no guarantee.
if you are a scalper should choose the broker which allows trading concept such as this. i have seen most of the traders using scalping with no money management, as a result, they become losers.
Scalping is very difficult but I believe it would only be possible during the London Session or periods of high trading activity.
In scalping, the time period preferred will depend on the technical strategy employed. Some scalpers prefer choppy, directionless markets when utilizing this style, while others prefer to trade strongly directional, highly liquid and volatile markets. This choice is mostly a matter of personal preference.7:00-8:00 am, this is the time period when European markets often experience choppy conditions.
I see a lot of people asking about the right time to trade. I don’t know about others but I feel that whenever you feel like trading, go ahead because that’s the time when you make the most profitable decisions.
Scalping as a strategy is very complex for traders, on top of it if I’m not wrong not all brokers even allow it. It’s better if new traders start with more easier to follow longer timeframes. Scalping must be left for later.
Agreed! No time shows similar results daily in this market, opportunities shift so rapidly here.
Yes, when a trader feels he can make a good earning. he should give it a shot then and there, irrespective of the fact if that time is considered good for scalping or not.
In my opinion, there is no right time for scalping. I would say if a trader has a good money management plan, any time would be appropriate for trading.
I’m not sure there are wrong or right times but I would say I find more opportunities around London and NY opening +/-1hr or so
