I prefer scalping because it's profitable for all kind of traders and requires only a well-executed strategy. Currently, I'm looking for a suitable broker that offers spread averaging at 0.0pips and faster execution.
Scalping is a pro technique. A newbie shouldn't risk its capital in scalping initially. A newbie is not aware of the market conditions neither he has any idea of the spreads so starting with scalping is definitely gona eat your capital. I suggest higher time frames and fundamental analysis for newbies.
That is true, I was a day trader when I started off some years back with cmc markets. Thrice had to reinvest from a scratch because I brought my trading balance to 0. I became a scalper later and I don’t think my trading journey (in terms of profits earned) would have been any different if I would have started off with scalping. It’s time that eventually teaches the way the market behaves.
Scalping is good but after hundred of trades, it can go wrong due to the law of large numbers. And new traders often hold losing positions too long or too large. They are willing to take 2-3 pips, but not willing to cut losses more than 10 pips and holds them till margin call.
Beginners prefer scalping because it is one of the shortest ways to earn profit in trading and some beginners enter into trading for some quick cash where other beginners use scalping for a live trading experience.
UweMoench posted: New traders love scalping as it gives quick profit. And this makes them addicted to trading. But I think starting with scalping is a bad idea. Everyone should start with higher timeframe. After some experience scalping can be done.
It`s even the worst idea. It can look simple but it`s absolutely not. The scalping must be the last think to do for newbies.
It’s true that new traders want to earn quick profits and hence, prefer scalping. But scalping is quite risky especially for new traders who are not well aware of how the market moves. Newbies should prefer day trading instead.
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