Kylealker87 posted: I didn’t know scalping work only in the busiest market hours. The wider spreads and slippage literally ate up my profits.
Yeah that must have been a problem. If you’re planning to start, do so by following the economic calendar and mark all the important market news that has the potential to trigger the important price moves in a shorter time frame.
There are a few tips that you can consider if you want to scalp. You can start with creating a trading plan and employ effective risk management. Try to create strict parameters for entry and exit. This is pretty important so you can work on that to begin with.
With scalping, try not to focus on just profits or money since it can lead you into taking impulsive decisions. Although Scalping is just about money and people get into it for better returns but if you want to have control over your emotions, you need to look at different aspects as well.
Marshalsam877 posted: With scalping, try not to focus on just profits or money since it can lead you into taking impulsive decisions. Although Scalping is just about money and people get into it for better returns but if you want to have control over your emotions, you need to look at different aspects as well.
Yes, I agree with you on this one. There are other important things a newbie should look at like knowing when to stop and managing a scalping journal, etc.
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