@nickz You mean graphs of people with more then 66%? Come on! ;) By the way, I do not scalp. I just think it's possible do earn money that way. Especially in the example you showed.
@Cholipop I wonder. And my opinion on that changes almost every week. It reminds me of the discussion between swing- and daytraders. Many swing-traders think that they have to choose bigger timeframes in order to filter out the noise. Actually I think it's of no matter. Both swingtraders and daytraders are simply doing the same. You cant look at a chart and tell whether it's m5 oder h4 or w1 without a labeled time-axis
Now what about scalping? I don't know, because I am not able to trade like that. But the truth is: the further you look into the future the higher the number of unknown variables. But: 1(!) unknown variable is enough to be unsure about the future. Conclusion: I don't know anything about the tomorrow - and even less about next week.
yes. with experience of 5 years in forex accdg to your profile, and you have 1 month trading result(hopefully not a cent account) OK! what happen to 4 years and 11 months? hehehe anyway Just keep it on. i just dont believed people saying scalping is scam or anything negative on other trading methods because it just shows that they're not well rounded in forex.
negative mindset=poverty mindset
some people might get interested on your signals. just keep on educating ;)
nickz posted: SL,TP, MM, Super Strategies, Indicators, EA's, Rules, Hedging, Martingale, D'Alembert, Trend Following, Algorithmic trading..etc etc.. are all excellent tools and very much necessary for a successful trading
I would myself remove Martingale and D'alembert off the list of necessary tools for successful trading, for me these are tools for failure.
In order to generate a loss of 10 pips, the trader would only need an adverse move of 7 pips. This is because a loss of 3 pips is incurred immediately upon entering the trade, again due to the 3-pip spread: 10 - 3 = 7
HFT firms does that every millisecond. They execute a simple strategy, but their zero latency to broker makes it successful. It's not only about the spread but about the ability to execute that in a sub-millisecond manner, which means, wirespeed connection to broker server. What VPS providers offers there and there as 'on link connectivity' is a fake one, it's just tunneling and port forwarding to trick you into thinking you are 'on net' but actually you never goes below 2ms latency, which is just not enough to execute a successful 'tick scalping'.
that said, in a general manner, scalping doesn't necessarily mean 1 or 2 pip win per trade. Some could say all intraday trades are scalping. All trades under 100 pip profit are still scalps. What tricks us into thinking scalping only refers to a 1-2 pip gain per trade is that bullshit subculture of scalping strategies there and there on every forex forums and whatnot. I do believe the term 'scalping' has existed well before retail traders had terminals and ability to zoom within the M1 candle. the scalping term already existed, at least, back in the 80's where all trades were done by telephone and necessarily were more long-term prone.
Anyway I agree with you, in the way you (and most) define 'scalping', yes, it is extremely dangerous.
By the way, here is a fun video a found a while ago, and which is on purpose, so to speak :
Yes so true. You need to trade with FIX engine with nano seconds delay. with 0 or even negative spreads and very low commission more like the 1/10th of what retail traders see. That is hard to get as a retail trader so start on higher time frame and the spread get less important. Happy trading 😄
So Nick, I can't find any reference to WAWsignal anywhere. Is this one of yours?
I prefer short term scalping because it is much easier to avoid major scheduled economic events. The longer the term the more major events will take place, and the shorter the term the less likely, and short term utilizes tighter SL so if I get surprised it won't result in a big loss.
I've not done nearly as well trading as I had hoped though, and I'm tired of being in front of the computer, so I'm looking for a good EA and the one Nick is using looks like the best of all, but has only been tested short term. I'd like to know more about it.
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