Current EURUSD Chart (70 tick) above with daily / weekly levels
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Bob… lighten up… he wants advice… I’m not going to get into a skull thumping thread as found elsewhere in these forums.The OP asked a question I answered with usable information… Let him demo his idea with a little guidance… he will find out the success rate.
No skull thumping here my friend. I have respect for your views, doesn’t mean I have to agree with them. Hopefully our alternate views allows the OP to achieve this
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Ok… here’s my advice… Don’t FEEL… instead, CALCULATE
another question would be, How much experience do your FEELINGS HAVE
what i i mean is
I’m an I.T. Engineer,
When i troubleshoot, sometimes i’ll listen to MY GUT / MY FEELINGS
but the point is… My Gut is an EDUCATED GUT FEELING based on years of experience
compared to the Gut Feeling of a New I.T. Technician , My Gut wins everytime.
so. Your FOREX GUT FEELING… How educated and Experience is that feeling.
because if it’s not, you shouldn’t rely on it
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You’re just not going to get better or more appropriate advice than there is in that post from Bob.
Not here, and not anywhere else.
The truth is that you don’t know what you’re doing at all (no shame in that) and are floundering.
You don’t really know what “scalping” is and how it works, so you don’t appreciate why it’s the last thing you should be trying to do.
Every word of Bob’s post above is gold, for you, if you’re able to appreciate it.
And whatever you do, don’t trade with a funded account until you’ve done a minimum of 200 consecutive trades on a demo account without losing money (that should be the policy of all beginners, not just yourself).
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Bob… even Laughing Boy concedes that utilising S&R will improve win rates…
It will, for many types of trading, but as conventionally interpreted and used by forex traders, it’s way less relevant and significant to scalpers (which I think was one of Bob’s points).
And in any case it’s determined by swings of the price, not by indicators (which was certainly another of his points).
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No, No… pretty sure random entries over 4 hour S&R levels on a 1/5 min Chart is what he was referring too…
Ahh… no one mentioned S&R levels are determined by indicators… not in this thread…
ok manyone have many many ideas… that means there are different methods we can use and all of them not suitable for one person.your ideas help me well… I like to scalp. so I should develop it
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Search Scalping on Youtube… Where you will find more relevant and demonstrated strategies and information for FREE.
There is hundreds of ways to Scalp, all of them different, some work, most do not.
Just do a LOT of research and demoing before opening a live account…
In my opinion that’s a huge misjudgment, undoubtedly based on your inexperience.
You should avoid it and try to develop other skills.
The one thing that all successful scalpers have in common is many years of successful trading experience, and many thousands of hours of screen-time, BEFORE they tried to become scalpers.
Successful scalping and RETAIL forex trading against a counterparty broker are mutually exclusive things for other reasons, anyway. It’s explained in this post -
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That’s fine, as long as you have enough funds to use a direct access broker so that you’re not trading against your own broker. Otherwise there’s no point at all, and the only outcome can be frustration and losses.
And as long as you have the requisite skills (which take years for anyone to develop, as Charles rightly mentioned.)
Scalping’s too difficult and too specialized for me, but I wish you good luck with it, if you want to try.
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Your strategy is too conservative. This strategy doesn’t give the market any option to breathe. A little movement will hit your SL or TP. It’s not an ideal strategy. Give the market a space to move. Take a break, rethink and and make a new strategy.
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This is the key point.
Counterparty brokers LOVE beginners to try to do this, because they know that none of them can profit from it. Does that tell you something worth knowing?
You’ll be paying 1.0 to 1.5 pips in commission per trade, trying to win a couple of pips, with your occasional losses costing you 4 pips on top of the spread. You’d need a win-rate of about 95% to make profits from it. The arithmetic just doesn’t stack up. To put it mildly!
To be honest, I’m sure you’ve misunderstood what “scalping” is and how it works. That isn’t your fault at all, and it isn’t a criticism. It’s just that if you look at online sources for “information” (i.e. forums, websites, Youtube, forex vendors, and broker information sites) almost everything you’ve ever heard about this subject will probably be misleading you.
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So enlighten the forum with your worldly wisdom slugger… What exactly is your definition of a successful Scalping strategy…Oh and Lukas, I know your there, feel free to add to the strategy anytime. There’s probably 500 newbies awaiting your every word…
Ahh Lukas… If it is too specialised for you… then BUT out of the thread, all you are doing here is continuing your bromance with Laughing Boy (check out the likes for each other, these boys should get a room…) and telling the OP what to do while giving very little substance of your own… You two Henson creations do not need to comment on every single thread on BP. You post like a pack of Hyenas, coming in for a feed one after the other.
LB has already shown what a hypocrite he can be with his S&R ball$ up further up the thread…
The OP obviously has very little experience, but he has been reading (about Laughing Boy’s S&R theories) and I have suggested he practice on a Demo… (Counterparty Brokers won’t care…it’s FREE) and he will find out for himself how hard scalping can be… and be learning how to use his platform, how the market moves etc. etc. etc.
Hopefully by the time the OP gets to a Live account, he will using one of the fantastic trading strategies that you have shared with this forum, one that Ms.Visser can whole heartily endorse.
There is a world outside BP (away from forum Superstars like yourselves) and I have suggested he look farther a field so he can understand just how many interpretations of Scalping there is…
The OP says he wants to try Scalping… so let him have a ago, it’s FREE to trial on a Demo. it may cost him a bit of time but he will work it out, it takes years for anyone to develop…as the cackling one rightly mentioned…so another few days or weeks spent “Scalping” a Demo is irrelevant.
Feel free to use the buddy system for the last say… this should be interesting.
Thats little rocket man to you son and hypocritical
So calm the duck down son and get over it. We disagreed thats all.
Scalping - crossing the spread taking profit. So simply, neigh on impossible for the ordinary man. And as you can see in my thread a good goal for any trader is to trade less and make more. Hows your thread going?
Hypocrite.
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Wha…Wha…What? If you read the last post (Ironic…) I’m not having a shot at you… I agree we disagree, end of story.
Totally agree as well, as I have stated previously the longer you are in the market the more chance it has to turn against you, as Clint’s “Grumpy basketesk” sample thread shows a week or so ago (losses of 400 plus pips)
It’s your dynamic duo mates, Bill and Ben who pop up in nearly every thread chastising everyone with not much to say…
Hypocrite… Of course your right, should read “LB has already shown what a hypocrite he can be”
I’m disappointed Bobster… please do research before replying… I have posted many trading strategies in various posts (even yours) some with live screen shots showing said trades in these forums…
I would suggest goggle scholar a more relevant search engine
Nice… looks like Bunbury from the air…there appears to be activity… you just can’t be sure…
Moderator should lock this thread, no longer anything to see here…
I enjoyed it thoroughly. Thank you guys! I even developed a tolerance for Martin_K, even chuckled. If it wasn’t for people’s money it could be alright for him to actually advise.
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