Thinking that forex is a simple way to get a lot of money in a shortwhile is the major cause of traders failing and quiting. No one canbet forex is untill they get into it. The ads on youtube will make it seem like a simplse thing like downloading a trading app, creating an account, investing, making predictions, waiting for the trade to end and finally withdrawing the money.
Greed for money is what makes people get into scalping. Who does not want to get money in just a few hours. That idea can be very interesting. Forex is a mind game. if you cannot reason properly then failure is imminent. Desire should be controlled for the safety of everyone. Depression can really kick in when things do not work out as expected.
Forget scalping. The mistake that people make is trading withiut knowledge. hey think that forex is simple and end up losing all their money. This is to the beginners who after watching ads think that they can make a lot of money in forex just like that. Better to learn first then trade later. It pays to be patient.
I am sure that some people did not even understand what scalping is before they opened this thread. If you had no idea what it was then the post is directed to you. You cannot trade without knowledge and expect to get good that do not know better are the ones that do scalping.
I think to say scalping holds no risk is very unwise and misinformative for new traders. All aspects of trading hold some sort of risk, it is ultimately how you manage your risk that defines you as a trader. I would suggest if you are new to trading or even seasoned and struggling use very tight stops and only risk 2-3% equity while you are learning. Demo trading does not reflect what will happen on a live server due to the fact that variable spreads are not actually variable in demo and if you are using an ECN commissions I have found to vary depending on the broker. I would look to find a more worthwhile strategy that does not involve entering and exiting the market 29 times for 60 pips and find a strategy that will yield you 60 pips in one trade.
Retail traders pay retail prices... Trade in line with the institutions
Its something that I am not gonna knock into but, I am figure out about 15 minutes chart and take 2 or maximum 3 trade along with good setup. fundamental news releases is boost for profit potential but require to know about, pattern, or what indicators explain about, where the movement possibly goes to head.
Well, simply put, yeah. It is risky. Because of the extensive use of leverage your risk is higher than ever. To avoid losing all your capital - try to work smart. I'm talking about having a strategy. But having a strategy is not enough. You have to know how to execute. Also, you HAVE to have a stop loss. Without stop loss you can lose everything in a blink of an eye. Try to enter market on time. Exit before something bad happens. Scalping sounds fun and easy in theory. But it's not. Good luck though :)
Scalping, in my opinion, is more beneficial for day traders as it involves buying or selling a currency pair and then hold it for a short period of time. Day traders get a good amount of scalping, regular traders must go on with simple strategies to get most out of a trade.
ethan_65 posted: Scalping, in my opinion, is more beneficial for day traders as it involves buying or selling a currency pair and then hold it for a short period of time. Day traders get a good amount of scalping, regular traders must go on with simple strategies to get most out of a trade.
How do you deal with brokers though? Don't they prevent scaling?
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
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