Hi, everyone, I am new to this site, I want to know is anyone doing scalping on EUR/USD? I have some questions:
which market you trade scalping? Europe? America? Asia?
what time is the best time to do scalping? and how long it last? an hour? 2 or 3 hours for a day?
what time frame chart are you using? 1min.? 5 min.? or other?
how many pips you usually got from each trade? how many trades you usually do each session?
what is your stoploss pips?
How long for your position stay opened? 10 min.? 20 min.? or other?
Hi fxpioner, I too am new to the forum and trading.
Personally speaking I think you are asking for an awful lot from the good people of this forum in one question.
You are basicaly asking how, where, when and for how long to scalp.
All the info is already here, you just have to do a little work and search it out instead of wanting it handed to you on a plate.
Once you have done some reading and un-sure of something then ask away someone out there will point you in the right direction.
Just dont expect someone to give away hard earned experience, knowledge and techniques at the drop of a hat though.
I am a complete newbie but I do know that to be a succesful trader you have to work at it.
hi there. i know every expert trade say that scalping is a losing game and that there s no holly grail. but if a holly grail exist there it ll be scalping.
to scalp you need no experience no fundamentals and no funcy indicators. you only need a good system that works for you and them stuck with it.
scalping is made me more money then i every dream of. and i´m a newbie too.
when i said made me money is demo money:D
i´ll keep trainning my system for the rest of the year and then i go live, and when that happens i´ll star to look for my ferrari:D
my scalping system worked only half the time , so i lost a great deal of demo money so i stopped scalping altogether, maybe i should try a diffrent approach
a system will only work for you if you create it by your self. believe on that.
i´ve tried everything on the net, but once i had a losing straight of 2-3 trades i quit the system because is not mine and so i don´t have confidence on it. the only thing that can make a system work is be confident on it and understand everything about it… don´t use a indicator that you don´t know what´s for.
if you only understand MA make a system only with ma´s
most of the system, even the bad ones, can easily have a 60% winning ratio and that´s all you need in the long run.
one thing that is very useful…better said…is priceless and indispensable to learn trade and to create a system is a trade simulator.
if you trade with metatrader there are one in this forum but i don´t know in wich thread.
you can learn more with that in one day than traiding for a week.
you can study the indicators and how they work with the price action
before open a trade you should know what´s your target, and if this target is smaller than you SL don´t do the trade.
i use a simple, but great, MM rule: risk/reward ratio X 1% of my account.
if you want open a trade with a RR ratio of less than 1 then your risk should be less than one.
for egsample: if open a trade with a potencial profit=50 pips and you want to use a SL=20 pips, then your RR is 2.5(50/20) and so you can risk 2.5%of your account.
but if your target is 10pips and your SL is 20Pips then your RR is 0.5 an you should only risk 0.5% of your account.
the MM and the risk/reward ratio make a huge difference in any system;)
just don´t give up, the solution is always there for those who keep there eyes open:D
matter of fact, I did some scalping in America, London session, got some good pips too, 60pips to 230pips within 3 hours, my problem is always got stuck when the big trend turned, too many positions remained open, it’s really killing me, maybe it is time for me give up scalping, just wondering is anyone can do it successful on scalping? thanks again! cheers.
well… i´never had a RR ratio more than 2.5 so…
but if you have a system with a RR ratio of 10 thats great for you. if i have something like that (depending on winning ratio) i´ll think about risk more than 10% of my account per trade because i´m risking 1$ to win 10$ thats a very good odds for me:D
Yes, you’d need something like 90+ % win rate for that.
Be careful not to risk too much. Increasing risk based on the risk / reward sounds dangerous to me. Basically you’re increasing your risk on trades that may not have a greater probability than a trade where you risk 1%.
no with a risk reward ratio of 10 even a system with a win ratio of 20% will be increadiable profitable
for eg: if you lose 8 times in 10trades you´ll lose 80 pips, and when you win the 2 times you win 200 pips so thats a lot of profit.
of course than with a system with a win ratio like that you shouln´t think about risk 10% of your account:D
i use this MM because normally a RR ratio isn´t higher than 3(and that´s some few exceptions) the average is 1.5-2.5 so i never risk to much. but i always consider the RR ratio before open a trade.
even a high probability trade, with everything pointting to the same direction, if it don´t have a good RR a won´t do the trade…or if i do i risk less
