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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See LB, here’s a great example of how to politely answer an OP’s question on scalping with some actual substance… Nice work.
I know what you mean.
But unfortunately it really is about people’s money, and it really isn’t alright for him to actually advise: it’s a dangerous liability.
Since your win to loss ratio is 1:2, in the long run, I really doubt that your account will survive the market speculation. Would be ideal to have at least 1:1 win to loss ratio or better 3:1 up ratios to build your account portfolio.
Scalper or swinger, the idea is to maintain healthy ratio to build up an account and ultimately start to grow your lot size.
Hopefully that gives a little idea on trading.
Cheers,
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Here is another fine example for you Mr. Visser, admits he doesn’t scalp, but still gives some actual substance to the OP’s question…
[quote=“Sandausp, post:1, topic:126270, full:true”]
I am a Scalper and I enter trades in 1m or 5m charts.
In 1mn chart i use 8,10,15,20,50,100 and 200 MA s to enter a trade when they cross.[/quote]
I do not really see the logic here in practice. If you are looking for only a couple of pips profit per trade then these longer period MAs are not very useful. You mention that you trade “crossovers” but,which crossovers with so many MAs? There are always some crossing one way whilst others are crossing in the opposite way.
Here is a typical sample 1min chart of EURUSD with your (E)MA specifications, I must admit I would find it impossible to trade this with parameter constraints of 2-3 pips targets and 4-5 pip stops (bearing in mind that the spread and comms already account for 1-2 pips for Newbie sized trading accounts.
[quote=“Sandausp, post:1, topic:126270, full:true”]
I plan to enter about 10 positions per day. that means I need to earn about 2 pips per trade and 20 per day. If the trade is going loss side more than 3 pips or maximum 4 pips i close the loss on that time as i need to minimize the loses.[/quote]
This does not make any sense to me either. If you are only looking for a few pips per trade and only a handful of trades per day then you either need a lot more trades or very large positions to make this worthwhile. If this approach is not automated, or at least working with, for example, audible signals, then there is an enormous degree of screen time required and an inhuman amount of concentration in order to react to trade entry signals at such a precise point that hits on 4-5 pip stops are severly minimised. I happily confess,I could not ever achieve that.
[quote=“Sandausp, post:1, topic:126270, full:true”]
I plan to enter about 10 positions per day… i can not take more than 2 or three positions per day, so I mostly like to trade with 1min chart. [/quote]
Didn’t really understand this. How many trades daily are you exactly planning on? If you think you are going to get 10 trades per day, each with a 2 pip profit to make 20 pips target, then I think you are seriously overlooking the need to also cover losses. In reality, you are more likely to need 30+trades per day even when you are performing well.
Personally, I do not think this approach could ever work consistently over a prolonged period because I do not feel that using the parameters/indicators mentioned will provide sufficiently accurate signals to meet the limit/stoploss criteria. I also think the effort, concentration, and discipline that this trading method requires is far too intense to be sustainable.
But this is just my opinion and should only be taken as such! 
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