What is fast forex scalping?

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.

Raywilkins665 posted:
I don’t think scalping is for everybody. It is risky and you should have the right temperament to make it work for you. You must be able to sit in front of your computer for the entire session while intensely concentrating on everything that is happening. Sometimes, you may not even be able to take your eye off the ball.

That’s so true! After trading constantly for some time, I decided to scalp. That’s when I realized that it requires a lot more than just sitting in front of the computer. Many times, I needed to react very quickly without getting enough time to analyze my moves. There’s literally no time to think. Over months of scalping, I even learnt to put a stop before the sl value was reached. This even when it moved against me so much as two or three pips.

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.

Kylealker87 posted:
I didn’t know scalping work only in the busiest market hours. The wider spreads and slippage literally ate up my profits.

Always go with a low spread broker if you want to scalp. I never take chances with spreads no matter what strategy I’m using.

Davidtaylorr posted:
I’ve heard people going after quick profits but I’ve not heard of quick scalping anywhere. Maybe you got the hint from fast profits or something.

Yeah me too scalping by nature is quick so all are within a short space of time.

scalping contains huge risk than others , but in spite of having good knowledge the result from scalping can be useless if there is no money management , so we have to emphasis on this first of all.

Scalping is not for newbie. It requires a lot of skills and experience. When a newbie tries to scalp he ends up doing overtrading. It's the story of every new trader.

DawnDanny posted:

Kylealker87 posted:
I didn’t know scalping work only in the busiest market hours. The wider spreads and slippage literally ate up my profits.

Always go with a low spread broker if you want to scalp. I never take chances with spreads no matter what strategy I’m using.

That makes sense and it doesn’t matter what broker you choose as long as they have decent conditions and spreads. I’ve used several tight spread brokers and they have been fine so far. You should not settle for a single platform in my view and keep looking at multiple brokers offering favourable conditions.

the success of scalping depends on your money management ,
 so its more important to make sure first of all the approach how to manage money when trading in practical.