What is fast forex scalping?

Is it true that scalping is a kind of risk management technique?

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.

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.

Forex scalping can give you good results but you need to have a good experience in scalp trading, else you know how you might land up.

@Gingerrogers it’s not just about experience. One cannot ignore the fact that a good broker is must for scalp trading. You might be having every knowledge of scalping but what are you going to do, if the broker only does not give you those features that are imperative for scalping such as tight spreads, fast order execution.

Harshalmark09 posted:
@Gingerrogers it’s not just about experience. One cannot ignore the fact that a good broker is must for scalp trading. You might be having every knowledge of scalping but what are you going to do, if the broker only does not give you those features that are imperative for scalping such as tight spreads, fast order execution.

I cannot agree less to it. I have myself used this strategy for 3 months with Pepperstone by studying their bar graphs and charts. I have realized that experience and a good broker will go hand in hand in any of the trading methods.
And hey, before you guys jump on 3 months being too short a time and all, I wanna clear that I don’t believe in all that rome wasn’t built in a day kind of bull. It’s a digital world and things ought to be quick!

I want to try scalping but I have set my foot in day trading and now I am scared to try any other method.

Ericdier752 posted:

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?!

Yes it is fast and sometimes I have faced the wrong signals but not always, but it is ok your analysis can’t be correct every time.

As you are planning to scalp, I am sure that you already know that you will have to keep yourself updated with the current news. You might also have to take the risk of trading the latest or future events that are expected to trigger price movements. I also scalp with robinhood sometimes and watch the high and low price movements to gauge the direction over the short-term.

josejames posted:
As you are planning to scalp, I am sure that you already know that you will have to keep yourself updated with the current news. You might also have to take the risk of trading the latest or future events that are expected to trigger price movements. I also scalp with robinhood sometimes and watch the high and low price movements to gauge the direction over the short-term.

Along with all the factors you mentioned, one should also be careful for the spreads which definitely widen during news releases.

Hearing this term for the first timee.

Gracewilson1995 posted:
Hearing this term for the first timee.

Forex scalping is a trading style used by forex traders to buy or sell a currency pair and then hold it for a short period of time in an attempt to make a profit. A forex scalper looks to make a large number of trades, taking advantage of the small price movements which are common throughout the day.

When you are trying to become a scalper, you will be required to have very good, reliable access to the market makers. You will also need a trading platform that allows you to buy and sell currency pairs quickly and easily, because the execution may take place in a fraction of a second.

Ericdier752 posted:

Sarjohn posted:

Ericdier752 posted:

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?!

Yes it is fast and sometimes I have faced the wrong signals but not always, but it is ok your analysis can’t be correct every time.

True! If only there was a tool that worked 100% every time, that itself would have cost a million dollars :)

Hahaha that’s true.. Forex is a very unpredictable market so everybody should be prepared for losses and for incorrect outcomes of your analysis work too.

Are there any rules I need to follow for a long entry?

phillipgriffin posted:
Are there any rules I need to follow for a long entry?

just some basic trading knowledge

phillipgriffin posted:
Are there any rules I need to follow for a long entry?

I use a stochastic indicator and when it’s below the overbought condition, that’s when I know it's a long entry.

I didn’t know scalping work only in the busiest market hours. The wider spreads and slippage literally ate up my profits.

In forex slow but steady approach can problem a lot of profit compared to other business. The problem with people that they want aggressive profit. They want to make money very quick.