hello eveyone
I hope you are doing good.
I am here to ask you about scalping. do You use it?
do you think it can be a good one for traders that do not have much time like me?
and if you think it is good, an you give me some advices please?
thank you everyone
Hi, if you have couple millions of dollars, you can use scalping. Regards Greg
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Scalping can be terrible, man. It eats up your profits with all the fees and commissions for those tiny, frequent trades. Plus, you gotta be glued to the screen all the time, which can really mess with your head and drain you out. On top of that, relying too much on technical analysis can be a slippery slope, especially when the market starts acting up out of the blue.
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Google tradertom.com.
He scalps the Major Indicies. Strange that he is very successful - or more likely he has studied the charts for a lifetime of trading - which most traders haven’t.
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I think I can not do it, I am a stressful person and I can’t handle it, however, on the stock market I use the swing trading system which I hold trades for like 2 / 3 days and that makes me nervous. Imagine holding a trade for 3 minutes!
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Hello Vasil.
Firstly, Do it if you can really control yourself and emotions. If you are unable to maintain this discipline, scalping may not be the right strategy for you.
Then I need to mention that high account balance is necessary for successful scalping. The high frequency of trades and small profits per trade mean that a larger account balance is needed to make significant gains.
Look for pairs that are volatile enough to make quick profits but avoid those that are too volatile and carry too much risk.(50% loss a day)
Best Luck/
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hello my friend
yes i can control myself and i dont scare of losing my money but how much do you mean by high balance
can you name those pairs? i heard gold is o good one for scalping and also usdjpy
and please name pair is hould not try as you say they carry too much risk
realy profesor?
i have near to 48k lev (around 26$k) in my account and i think it was enough but people are telling me i have to have high balance
can you tell me how much is enough? and how much should i put in each trade? 1% or 2% or what
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Scalping is possible if you are disciplined. The most important thing is to have a strategy and follow it. Don’t chase profits because you made a loss because that leads to bigger losses. Trust me I’ve been there and still find myself doing it even after years of knowing how it ends.
But scalping needs a lot of time. If you don’t have much time then longer term trades are the way to go on the higher time frames.
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ok @VasilTodorov basically you have to know how scalping strategies work. This is a quote from BP education school, read it carefully. Forex Scalping - BabyPips.com
Scalp trading, also known as scalping, is a popular trading strategy characterized by relatively short time periods between the opening and closing of a trade.
These types of trades are usually only held onto for a few seconds to a few minutes at the most!
The main objective for forex scalpers is to grab very small amounts of pips as many times as they can throughout the busiest times of the day.
Its name is derived from the way its goals are achieved. A trader is literally trying to “scalp” lots of small profits from a huge number of trades throughout the day.
What makes scalping so attractive to traders?
Smaller moves happen more frequently than larger ones, even in relatively calm markets. This means that there are many small movements from which a scalper can benefit.
Scalpers can place up to a few hundred trades in a single day, seeking small profits.
All positions are closed at the end of the trading day.
Because scalpers basically have to be glued to the charts, it is best suited for those who can spend several hours of undivided attention on their trading.
So, I highly doubt that you will handle with a hundreds of trades per day with maximum focus long term, but you can use algos to create those kinds of strategies.
Something about scalping algorithmic trading. Scalping, algorithmic trading is very sensitive to every market change like spread, volatility, slippage, execution time.
To do scalping properly, you have to buy high quality data, find high quality programmer which write you “clean code”, someone who back test it for you and team which will supervise execution and of course broker which give you properly trading environment and trading conditions.
Regards Greg
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that’s the most difficult part, realistically: if you’re trading spot forex against a counterparty market-maker, you have to ask yourself who’s actually being “scalped”: the market (if your trades are in a real market at all?) or your “broker”, and if it’s the “broker,” how long they’re going to tolerate that for anyway
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No, i have never tried that, regarding my mentor recommended not to.
also i work with a broker who does not allow it.
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at least they admit it (i assume), which is good
many brokers pretend that they allow scalping (hoping their customers imagine they’re trading in a real market and scalping “the market” rather than the broker) because they know that retail traders trying to scalp spot forex are almost all going to lose, and then just take measures (including spread-widening, account-limiting and even account-termination) against the tiny minority who are actually successful with it, which is of course a much less honest policy
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thank you profesor
i do not have time to do that but maybe i can put a special time of my day to this
100% you are true i can not handle them all so maybe it not for me
well my broker says it is not allow to scalp but they have floating spreads and bother me to pay more and more spread on the times that i don’t know what is the reason
at the end thank you profesor, you really helped me with everything. god blesss you
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I am comfortable with scalping strategy because I am trading forex as a part time trader so I don’t have much time to invest in forex.
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I have noted the responses to the query above. Another amazing display of respondents not distinguishing themselves (I am being very polite). Among the responses are that… it eats up your profits with fees and commissions, you need to have a lot of money and someone mentioned millions of dollars, you have to be glued to the screen, scalping needs a lot of time, and it requires too much reliance on technical analysis.
A large proportion of persons on here also are of the opinion that learning forex on one’s own is preferred to mentoring but at the same time they are actually indulging in mentoring and the advice they are issuing is flaky at best.
Were I desirous of learning to fly a rocket the people I would have been asking for advice are those who can actually do it reasonably well, not people who dont have a clue.
I consider myself a scalper, albeit not the best, but a scalper the same. Below is a screenshot of some results of my trading since week today included. Based on that piece of evidence I can tell you that the majority of what people on here are saying about scalping is absolute unadulterated garbage. It would help you loads if you listen to what all parties have to say and draw YOUR OWN conclusions.
This is a real account and the balance just got to US$803 plus this morning. The end balances reflect what has happened on the account from 1st May to today. I think there were two days when I made over 10% of the entire account.
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yes me, just because I don’t scalp doesn’t mean I don’t know how difficult it is to trade and that is why I don’t touch it. Do you really think you are scalper? You are day trader with 20+ trades per day, and obviously you are not a person who have a clue how to do scalping. I am very curious if you will be so willing to show your results when the strategy is no longer profitable. Remember, it’s not how you start, it’s how you finish.
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I honestly dont have a clue as to how to respond to something like this. The most I can say is that there is a definition for scalping and I posted a screenshot of my live account. You also have some screenshots floating around. I suppose people can examine all the information before them and arrive at their own conclusions.
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how does your 20 trades a day fit the description of a scalping of hundreds of trades a day? you are not even close
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Yeah, my apologies, you’re right. I dont have a clue, lol.
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