The Hidden Danger
Last week, scalping the M1 was child’s play
the very big drawback, as Snipe seems to be finding,
is that it isn’t 26 pip winner after 26 pip winner for all eternity!
the next week you may struggle to scalp a couple of pips
here and there
it can be done, as Snipe is demonstrating
but I’m finding, even with a no spread broker, i am barely
making more than the broker’s commission
its a tough game, seriously, there are times you know
the next bar will go in your favour
so you would probably be better off trading Binary options
for 1:0.75 risking more than you win
but then the next week, the 15 - 26 pip wins return, you
really don’t want to be trading Binary Options!
What I see about scalping is that Psychology is everything
just when you think you have an income for life, things
turn very ugly.
If you are quick to spot the markets turning, and get out,
you might do quite well.
I will continue to monitor Snipe’s progress. I will be truly
amazed if he can sustain anything like 10% profit a day,
although I hope he does
but that will only be achieved through strict discipline.
so far I have been completely derailed demo scalping, despite
the brilliant start.
If you go to Snipe’s website, there is a free system
’The Three Candles’
it warns about trading when candle is too long or too small
applies to all Scalping. you ignore that advice at your peril!