Mar 08 2021 at 04:17
williamhayes posted:
What I believe is that every strategy requires some hard work and practice. No one is born an expert isn’t it.
Yes but some strategies require a certain skill and they might not work so well for a beginner. Like scalping for instance, it requires a trader to have a very good idea about the entry and exit.
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.
even though scalping sometimes bring profit with very short time but
it can fall you in a dangerous situation, so be careful when time to scalp.
it can fall you in a dangerous situation, so be careful when time to scalp.
Mar 08 2021 at 11:55
Scalping does take some time and effort to perfect a strategy and not all traders are willing to put in so much effort at first.
Mar 09 2021 at 07:19
Roberto21 posted:
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.
From what I have learnt till now in my journey, I believe even 2-3% can amount to a lot of loss, isn’t it better to limit the risk to 1%?
Mar 09 2021 at 07:19
Imamul posted:
even though scalping sometimes bring profit with very short time but
it can fall you in a dangerous situation, so be careful when time to scalp.
I completely agree with you, that’s why I think highly active times are the best time to trade, and that too just the major currencies. What currencies are you trading?
Mar 09 2021 at 10:34
Darrensmith posted:williamhayes posted:
What I believe is that every strategy requires some hard work and practice. No one is born an expert isn’t it.
Yes but some strategies require a certain skill and they might not work so well for a beginner. Like scalping for instance, it requires a trader to have a very good idea about the entry and exit.
No doubt having an exit strategy is so important. Who’d deny one large loss can nullify the small gains, which a trader worked hard to put in the bank.
Mar 10 2021 at 05:44
That’s where the tools come into play to save the day. Live feed, direct access to the broker and aptitude to place loads of trades are requisites to trade successfully.
Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
Ericdier752 posted:Sarjohn posted:
Scalping is itself a way of taking profits from small price change. not sure if there is something like fast forex scalping. Use the smallest time frame and high leverage for scalping.
What’s the strategy you use? If you don’t mind sharing that is
I use Moving average and RSI strategy. And what strategy do you use?
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.
Yeah customer support does come in handy when scalping. TDA are my favorites so far helping me with automatic and instant execution, the two most crucial aspects for any scalper.
Is it true that scalping is a kind of risk management technique?
Mar 11 2021 at 06:56
stevewood posted:
Is it true that scalping is a kind of risk management technique?
That’s kind of new. On a second thought, any other trade can be turned into a scalp when we take the profit near the 1:1 risk/ reward ratio. So yeah it pretty much seems so.
Mar 11 2021 at 07:10
Roberto21 posted:
Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
Have you considered using margin on your account, won’t that help for longer term strategies!?
Mar 11 2021 at 07:11
Sarjohn posted:Ericdier752 posted:Sarjohn posted:
Scalping is itself a way of taking profits from small price change. not sure if there is something like fast forex scalping. Use the smallest time frame and high leverage for scalping.
What’s the strategy you use? If you don’t mind sharing that is
I use Moving average and RSI strategy. And what strategy do you use?
I have been using both RSI and MACD so far. With moving average I don’t know which is better - simple or exponential
Mar 11 2021 at 07:12
Imamul posted:
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.
So right! Own experiences are the best teachers. Something that no book or course can match.
Ericdier752 posted:Sarjohn posted:Ericdier752 posted:Sarjohn posted:
Scalping is itself a way of taking profits from small price change. not sure if there is something like fast forex scalping. Use the smallest time frame and high leverage for scalping.
What’s the strategy you use? If you don’t mind sharing that is
I use Moving average and RSI strategy. And what strategy do you use?
I have been using both RSI and MACD so far. With moving average I don’t know which is better - simple or exponential
I feel exponential moving average is way better.
Mar 12 2021 at 06:38
Sarjohn posted:Ericdier752 posted:Sarjohn posted:Ericdier752 posted:Sarjohn posted:
Scalping is itself a way of taking profits from small price change. not sure if there is something like fast forex scalping. Use the smallest time frame and high leverage for scalping.
What’s the strategy you use? If you don’t mind sharing that is
I use Moving average and RSI strategy. And what strategy do you use?
I have been using both RSI and MACD so far. With moving average I don’t know which is better - simple or exponential
I feel exponential moving average is way better.
Because it’s fast? But doesn’t that also lead to a lot of false signals?!
Mar 12 2021 at 07:00
antonyhollinwooe posted:
Scalping does take some time and effort to perfect a strategy and not all traders are willing to put in so much effort at first.
I feel the same way. Some traders don’t understand that if they do not do things according to the plan, they will lose money and sometimes the amount can be huge.
