That’s because you’re being “advised” by people who don’t really understand what “scalping” means and they don’t really understand how brokers work, either.
Nearly all the “information” you’re getting here is ill-informed and misguided.
Not surprisingly, most of it’s actually mis information, because the people posting don’t really know what they’re talking about.
As so often.
If you want to see a few factual posts about scalping, which contain accurate information, here they are:-
The main rule, for a retail trader (other than possibly for a very experienced, typically ex-institutional one with very substantial capital) would be "Don't have anything to do with it". Apologies if this sounds "negative", but it's completely realistic. Even if you could ever manage to do it profitably (and it's hugely stacking the deck against yourself to try it), clearly no counterparty market-maker broker is going to tolerate a successful scalper for very long anyway, because the practi…
It is, unfortunately. Because it's what the people betting against them want them to use, and have promoted accordingly. One would think so, looking at it superficially. I think it's more complicated than that. Using MT4 doesn't help new traders at all, I think. Some of the indicators are unreliabIe, and it attracts them to EA;s, which the people betting against them love them to use, of course. It's your broker that's disallowing that, not the platform. I think it's commonly…
To say it very politely, you're using the word "scalper" with a very different meaning from its accepted one in the trading community. Scalpers are NOT using 5-minute charts! That has nothing to do with scalping. Probably you've seen some people in forums saying they're scalping, and taken them as being "scalpers"? They're not.
Respectfully, Jonathan, by no stretch of the imagination is a 15-pip SL and a 45-pip target anything to do with "scalping" at all: scalping means snatching a very few pips, or ticks, with a very tight stop-loss. Edited to add: all my everyday, routine trading has far smaller SL's and targets than that, and even I'm nowhere near being a "scalper". Welcome to the forum, Gibbytech, but I can assure you that nobody is "scalping" anything with a 3-pip spread!
There's 19 pages of this thread and (as far as I can see from a quick read-through), nowhere in the whole thread has the single key issue actually been addressed … WHOM ARE YOU SCALPING? No genuine broker minds you scalping the market. A "broker" is someone who executes on his clients' behalf trades in an underlying market (in this case it's thew interbank market) to which the clients don't themselves have access. A broker isn't financially involved in the outcome of his clients' trades,…
The key word, there, is "considered". Many aspiring traders believe it, but their results demonstrate how mistaken an approach it is, for most people. In a field of endeavour in which the overall success-rates are so low, aiming at scalping must be one of the most sure-fire ways of stacking the deck even further against oneself. And of course there are reasons for that. Especially in the case of forex, where most participants trade against counterparty market-makers who are holding the ot…
It also tends - especially in inexpert hands - to have the most wildly fluctuating and inconsistent success-rates. and it very clearly has the highest overall dealing-costs, in proportion to its returns. I've seen many people getting into trouble because they start off by trying to scalp, rather than trading methods based on higher win-rates, larger moves and lower trading-frequency. If your working capital is a little less than you're fully comfortable with, I'd suggest that scalping should…
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