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.
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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.
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If you are a complete beginner, I don’t think you should start with scalping. It sure is a profitable strategy but it is also very risky.
Scalping is a very technical trading style. If you are a new trader, better to study it well.
Scalping isn’t for everybody. It requires attention, skill and experience. People should have some knowledge of technical analysis for it. It’s not something that you just learn. Takes a lot of effort and hard work.
Any tips for mastering it?
right now so many scalping brokers who are offering micro account for scalpers, generally scalpers always fall a great trouble when choosing a broker.
Scalping can be interpreted differently from person to person. To me scalping is opening and closing trades within a few mins to a couple of hours using the 5 & 15 min time frame. Others see scalping as in and out within a couple of seconds, while both are valid it depends on what you find as a suitable strategy and trading plan and if it works for you. If you are going to scalp I would suggest back testing your strategy 100 times, journal every trade you take, know what your SL and TP is going to be. Use a decent RR and pick a broker that has low spreads to ensure when the market moves in your favour there isn’t much of a spread to pay. To me if you are a beginner is shouldn’t matter what way you choose to trade, when I began I found to impossible to trade above the 1hr time frame, it didn’t work for me. If you have a a decent strategy, RR and a plan in place then it’s entirely up to you if you want to scalp. Just back test and use a demo account until you are certain your strategy works and that your are comfortable with it. And when you go live keep risk low and lots low until you get comfortable with the real money, when scalping you can lose money fast. Goodluck with your trading. M.
I scalp every day off the H1 chart. Been doing this for 18 months and I’m pretty successful. Scalping is not for everyone. I use a combination of a tech set-up with Price Action. I have very low spreads bc I am a funded trader with a Hedge Fund. This takes experience and is not for persons new to trading but once learned it’s yours for life.
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Of course it isn’t. It is so risky, newbies shouldn’t even think about using it. There is close attention to the entry and exit points which is an expert’s game.
Trading isn’t easy in itself but it doesn’t mean people can’t try and experiment with new strategies and techniques. Every expert trader must have been a beginner at some point and I think it is okay for beginners to try scalping or any other strategy. Yes, it does require some skills and techniques but that can be learned.
i agree, not for newbies. scalping requires quick decision making and the right entry exit points. better not, go through being a beginner itself. if you really want to, then test out some strategies on demo and then try to implement them on live.
according to me all trading approach is suitable if there is money management , any level of success depends on this approach , so we the traders have to focus on money management first then others.
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Yes. it is for those who are quick to learn and understand. It generally requires precision and the trade execution needs to be fast. I have tried it a few times and I’ve been using some good low spread brokers, Xtb and Fxview. Scalping requires practice and dedication. The focus should be on smaller time frame interval charts or candlestick charts.
I scalp intraday on a one hour chart with one hour checks, until my winning trades begin to run out of steam. As for losing trades I cut them quick - no remorse, it happens.
As my basic system strategy is profitable, I’m fine with this.
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