Sorry I guess I should have mentioned that it has these properties when done correctly in theory. I should also say that I was never a big fan of putting trading styles into a box of 3 or 4 types and calling it a day.
Scalping (or any way of trading in my view), is not defined by how many pips are needed to overcome spread. It’s simply defined by risk (how much money will be lost if the trade fails), reward (how much is lost if a trade succeeds) and most importantly [I]probability [/I](the projected probability that the trade fails or not). Lets pretend I’m trading with a 10/10 pip tp/sl. This effectively becomes a 12 pip upside vs 8 pip downside if I’m trading with a 2 pip spread. This means that 20% of my move is eaten by spread. (This is typically how it is explained to me, so you’ll need to correct me if I’m wrong). Regarding this point, I just don’t care. I care about how much edge I have to complete the trade successfully, and what this means for my account.
Regarding cutting losses quicker, I think it makes sense If I explain how I view a (single among many) successful scalper approaches the market.
When I scalp EU for example, I never use a stop loss greater than 15 to 20. But, I don’t trade with a 15-20 TP. I don’t view scalping with a hard TP, so I can leave a position that isn’t killed after x time or pips to break even. I can lets the position run for 100 or 200 pips, whatever the trading system allows for. Since my risk is defined purely by my potential [I]loss[/I] and scalps have the smallest stop losses, they by definition have the ability to cut losses the quickest (i.e a 10 pip move will happen quicker than a 40 pip move).
Finally, regarding advisable vs not advisable for new traders, I believe this is just something we will disagree on which is fine by me. Trading is a world of so many differing ideas and things to learn that I simply don’t think there is a correct way to teach new traders. It’s probably advisable to teach new traders about trading psychology and emotions, but if that was a part of trading school I’d be sleeping straight through it - it’s just never really been an issue for me. I think we can both agree that astro trading is very likely useless, but what if a new trader learns something through it? For example the valuable lesson that correlation is not causation :58: Some traders need these lessons, others don’t. I think new traders should strive to learn as many lessons as possible, not necessarily just put on a path to a style of trading that x number of traders have said “is the best”.
Namaste to you as well sir.