Scalping strategy to finish the year strong



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These are my go to pairs at the moment!

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What time frame are you trading? Losing 20 out of 30 is tough. But 30 trades in 3 months is a long time to go between trades. So 10 a month. 2-3 a week. As a beginner, what helped me was going to the 1hr, 15m and 5m and getting a ton of trades under my belt. You get more feedback on your trading skills, emotion, and how your system is working or NOT WORKING. So if Iā€™m losing 2 out of every 3 trades, Iā€™m asking myself what is going wrong?

If youā€™re following ATā€™s system or some variation of it, Iā€™d obviously look at whether Iā€™m ever going in the right direction? If so, then Iā€™d check how many pips that is. What happens after? Pullback or reversal? Stop too tight? TP too high? Entering too late in the move? Getting out too early? It can be a couple different things hurting you. If youā€™re never in the right direction, then review ATā€™s and other peoples entry rules. Maybe change the MAs. Maybe look for more confirmation. Maybe youā€™re not understanding how one of the indicators works or how to read the data itā€™s giving you.

For me it was harder trying to figure any of that out trading the daily or the 4hr. And then my stops were too tight. I think Iā€™m one of the few that actually stopped using SLs for a while when I demo traded and even when I had a small live account. This let me get a better idea of what price would do after placing a stop or TP in my head and then seeing what the outcome of the trade would be. I learned a lot trading that way. Not sure if that will work for you. I have a lot of time to sit and watch the charts.

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Thank you. Let me keep trying maybe I will learn before I go bankrupt lol.

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Whatever/however youā€™re trading, stick to demo and donā€™t trade anything with actual money until youā€™ve done exactly the same thing on demo, without losing, for a minimum of 3 months AND a minimum of 150 trades (is my strong suggestion). Good luck!

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I think I did like 350 trades my first year on demo.

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Taking a break? Vacation?

Lol, I think I did that in my first month (Iā€™m not recommending that anyone else should do the same!!). :crazy_face:

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Wow! What were you trading?

I wasnā€™t really ā€œtradingā€ anything: I only thought I was! :sweat_smile:

Itā€™s ā€œonlyā€ about 16 trades/day, lol.

I was trying to scalp the Dax index (itā€™s about the same as trying to scalp the Nasdaq). I mean, one can: there are even people who do it for a living (until they burn out two years later), but for a retail trader beginner, itā€™s totally insane. I didnā€™t know that at the time, of course. :sweat_smile:

Yes. Iā€™m traveling for a while. Be back to regular schedule in late September.

Happy trading!

Safe travels! My yen trades are giving me headaches as usual!

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Thanks.

Yen sucks. I bet its been obliterating a lot of accounts.

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When Iā€™m on, Iā€™m on. But man, when Iā€™m wrongā€¦ itā€™s like a carpet pulled out from under me. No worries, Iā€™ll just hold onto the position for a bit longer.

I hear you.

Iā€™ve been starting with a small entry lately, then adding to it if its going in the right direction. If its going in the wrong direction, I keep checking to see if I should leave it open or pull the plug.

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Minimum of whaaat? I guess am still a long way off. Thanks for the advice.

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Lol, thatā€™s about the minimum most people would need, in round numbers, to have a ā€œpossibly statistically significant basisā€ for their method(s). Itā€™s really terribly easy to think/imagine/hope, on the basis of demo tests, that somethingā€™s profitable and find that the losses start when you try it with real money. :face_with_raised_eyebrow:

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Iā€™ve been there, and done that, My winning system came from losing money on real accounts, I made the right adjustment on the real accounts after doing so well on the demo accounts only to start losing money on real accounts

Funny how that works.

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Yen trades all turned to profit! Love when that happens.

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Iā€™m at 337 trades so far this year.