is scalping suitable for newbies?
I strongly believe no scalping is not a strategy to begin trading. It involves a lot of concentration, practice and skills to master it. A newbie who has just started trading is still learning how the trades are placed, what is the role of spread etc etc. When you scalp, the most important thing is the spread. If your spreads are high scalping will not work out at all, as your tiny profits will be eaten up by spreads. Thus, once you understand when the spreads are low what trade time is the best, what instrument is the most fruit full etc etc, only then you should try out scalping.
for the beginners i dont think the scalping is suitable. the newbies should try hedging according to me.
Scalping is not the best place for beginners - hell it’s not even the best place for seasoned traders.
Scalping is there for once purpose, for you to trade as often as possible and make your broker money.
Usually it will be wrapped up in some veneer of respectability - but the broker knows your going to lose - and is probably taking the exact opposite trade as you
That might sound harsh but there is truth to it. The less you trade the less your broker makes from you.
With scalping you will likely lose if not from a poor technique, then from a poor trading mindset.
Beginning scalpers are the cannon fodder of the retail trading business.
Some will make it out the other side, but most will not.
Slowing down the timeframe you trade will help, but even that is no guarantee of success.
Beginners are going to lose money, but it’s better you be losing it slowly rather than quickly so you have the time to figure out what you are doing wrong.
Forex scalping may be a fast way to make money in the Forex market for a newbie, but it can also be the fastest way to ruin a trading account. Be sure you are up to the task before choosing this style.
Also, a delay is very dangerous when scalping. For instance, if you fail to quickly take your profit, the market may turn against you and wipe out the profit in a split second. You may even end up taking a loss. Similarly, hesitating to close a losing trade may lead to a larger loss which could eliminate the many small gains you have had.
If you feel up to it, then I will suggest you start with a one-minute scalping strategy. It is a great technique for beginners to implement. It involves opening a position, gaining some pips and then closing the position shortly afterwards. Please ensure that you choose a trader with the smallest spreads and lowest commission in order to benefit from a scalping strategy.
scalping is suitable or not it depends on your approach , first of all you have to choose the platform which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which allows trading concept such as this.
Scalping encourages an unrealistic, gambler mind-set. It promotes over-focus on the current trade and the money its making or losing. Likewise on each day’s trading, and the money made or lost. Focus should be on repetition of an objective method, and on percentage gains, not dollars.
If you’re a scalper and you want to check if you’re infected this way, try to answer the question, “Can you see yourself scalping every day for the next 10 years?” If you answer, “Yes! I can think of nothing better!”, then you’re OK.
when you willing to scalp in a proper way , according to me first of all you have to choose the broker which is always ensure most lowest trading spreads.
scalping most of the time causes huge risk , right now i am totally ignore this approach , but its profitable , i agree.
scalping can be the best trading strategy if you have good knowledge and experience. bu the main problem is to manage the money because the market moves at random most of the time.
No scalping is not good for newbies. Successful forex trading demands discipline. But scalping at the beginning leads a traders to develop bad habits.
Not for noobs in my opinion. Too high frequency and fast for new eyes and therefore more mistakws to be made.
I highly doubt it, beginers should not adopt scalping in the inital trading days. Even for experienced traders, scalping can be a a task at times as it needs a lot of concenteration on the current trade. But if you are confident about the strategy, you can go ahead with that also. Good luck!
Thank you all for your valuable opinion.