Beast240184 posted: I am a scalper but use pending orders, that way you are always calm.
How does that work? I thought that for scalping you needed market orders?
It all depends on what scalping defines for you. Most traders assume scalping is sitting infront of your screen waiting for the market to give you a setup and when it does you pull the trigger hoping to catch a few pips. Normally you open a market order when in profit with some money $ you close your trade. I assume scalping is for most people 1 to 10 pips at most and to put in a stop loss of 1-1 for example ( 5 tp and 5 sl ) its high posibality you will get stopped out more times than you make your 5 pips. Thats why most scalpers normally only open market orders and hope it goes in their way, as soon as they in profit as i said before they close their position out usually becuase they are afaid it goes against then and loose that they could have made. The problem comes when you go in negative and dont want to close your trade with a loss, you normally take a big loss or loose your whole account. Thats where pending orders come in. Set and forget, you win or you loose, no emotions.
PROFITINGSYSTEMS posted: The one that is very happy with his trading system😎
good one 😄
Stay profitable my friend
Thank you Friend and You too.Just be patient and apply Good RiskManagement and you are profitable.
Yup find your lane and smooth sailing without deviating from the plan 😁
That is how successful traders do
Exactly! I see so many people want to trade like others but the key is to find your own style that fits you.
You can take what you learn from others and incorporate those ( Concepts ) into your trading. At the end of the day if that style doesn't fit you as a person that is when mistakes happen and failure. It doesn't mean the concepts are wrong just means they do not fit your personality. Just my two cents ..😄
My trading turned a complete 180 once I found my style and what makes sense to me.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.