Now then, your all going to hate this, but just off bare charts with bollingers, I’m doing what I call ‘nano scalping’
Now it’s hard work, but even off my two weeks experience I’m winning 85% when I pay attention. ( ie don’t go and make tea mid trade) … so my average win is £4.20, I’m literally going into a trade and out within a one minute candle.
I must admit I’ve missed some mega pips comming out too early, but it’s steady growth.
Some relevant points
Demo account set to 5k
Trading while working ( office job)
Don’t tend to use stop losses and sometimes have to ‘buy back’ a position to close a trade as the platform isn’t quick enough (ig index)
Roast my system, points for whoever uses the word ‘unsustainable’ the most in one sentence
If it works for you, then no one can take anything from it. However, since you do not intend to use any stop loss, and taking only a few pips profit, it is only going to take one trade to wipe all profits made from 10 to 20 trades. That is kind of taking 2 steps forward and 10 backwards. It is still progress, but in the wrong direction.
Oh no, I have a stop loss, it’s me, I don’t take my finger off the button till I’m out, and my mobile is logged in beside the computer ‘in case’ and on 4G not wifi.
I actually think I’ll revisit this topic in a few months to report back
Does anyone else nano scalp?
FYI, in my trades I think 1 in 8 I double down, same direction of course, and end up with my average profit on a typical max loosing position of £35
Well, I’ve had another look at my figures actually the first reply is right, losses knock me back a lot.
Active time about 4 hours / hundred trades, but that’s full focus.
Well, in some ways I have quite a good feel for market movement now - discounting (don’t laugh) what even I consider overtrading my short term market prediction is ok
I prefer trading with a Micro lot if I want to trade low. Nano lot broker is most likely to be scammers. I recommend trading with brokers that provides low spreads and commission in a micro lot.
Well, looks hectic, but it is a good way to build patience and consistency. Also, the profit is likely to be low. You might consider increasing capital and scalping standard account for real. Lastly, use a faster broker. I don’t experience this slow execution you speak of while scalping with Forexchief. You should be able to get in, get out as quickly as you want.
I am a fan of the D and D strategy (dax and dow) for scalping indices. Range bars are best to spot good scalping spots in all kinds of market. So any day is a good day to use this strategy, the volume does not matter. When market falls out of range, in the direction of the trend, that is when I open my position. It is merely a reaction of price changes. The stop is at the range top and target at risk end of the range. This has worked beautifully for me on dax index on selfinvest. It is more on the lines of automated set up, a sea change for me from my traditional way of trading indices on fxview. Now for forex trading also I am looking at some potentially good indicators to apply.
There are not much Nano-brokers these days; I consider nano lot trading as a waste of time and money consumption. If anyone wants to trade low, choose a Micro lot broker with a lower commission and spreads.
Brokers that provide Nano lot are likely to be a scammer, and the profit is low whereas in Micro lot, the profit is higher.
When I started forex trading, I never knew that I would reach where I am today. It was always a dream. But my constant efforts and zeal to do something got me here and today, I can proudly call myself a profitable trader.
If you know that it is worth it and will work for you, you can try it on your demo account. But I am not sure why you are not willing to use stop loss when it can save you from potential losses. Try using stop loss in some of your trades and you will get to know how much difference it will make in your trades and profits.
If you are making profits with it, I don’t think there is any reason to not use it. I agree that there will be some traders who might not find it profitable but it has nothing to do with how you trade and make profits. Trading is an alone game and you must not depend on others.
you’re actually using a stop-loss whether you enter one with the trade or not, it’s just that if you don’t enter one your stop-loss is your entire account, every time you trade
but if that’s how you want it, carry on - and good luck (eventually you’ll need it)
I suggest trading with a micro account than a Nano account because the profit earned from a nano account is nothing but peanuts. It can only be used for the next smaller trade.
