Scalping to start trading with a small account

Beginner Questions
1

Hello everyone,
I am new in the forex business, and I would like to know what would be the best time frame and hours to do scalping per currency pair with a small account. Also, I do not have but a couple of hours a day to do it, and I would like to know if it is a good idea to start with.
Thanks

2

Hi,

This sounds dangerous. But if you were do try it, I would stick to the 1min, 5min and 15min timeframes. Since the Forex market is open 24/5, your best time to trade would be in the time when markets overlap.

Goodluck!

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3

Since you said you don’t have many hours, wouldn’t it suit you to look at the longer time frames so you’ll be less likely to be faked out? I’d say a simpler system where you can define entries/exits in a longer time frame so even if your not taking as many trades as a scalper you could possibly have many small entries at that price level where your still getting positive pips out your trade.

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4

Day trading with only a couple of hours per day is not realistic. Sounds pretty dangerous actually! :open_mouth:

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5

I started with a $100 a few years ago. My stomach knotted up when I pulled my first trigger. With that being said, I totally agree with the other posts, in addition I would learn everything I could about pending orders. Always, always, always let the market come to you.
I’ve been where you’re at… All of us have, Do NOT give up!!
Greetings and all the best to you, Reno

6

Trading for just several hours per day could be effective only in case if you know the particular hours to trade. Actually, it all depends on your strategy. For example, there are traders that make trades only during the “overlap” - short period of time when two regional sessions are active simultaneously. This always creates high liquidity that is important for scalpers.
At the same time, if you are going to trade several hours just because you have no more time, it will be difficult for you to compete with market professionals spending the whole day. In such case, it would be a great idea to think about swing/mid-term trading as an alternative.

7

Thanks, everyone, for all your comments. I am looking forward to learning more from all of you.