Becoming a scalper

well, with any market you will eventually get a slippage...you should look at futures markets as there i find less slippage than CFD brokers.

Why stick to just Scalping? I find it very risky and uncertain. And as far as the broker goes, most of them don’t restrict using any strategy so just pick a respectable one.

I am currently in position on the DJ.

Tarket at 29 930 PIP😎

I tried scalping as a newbie. Ultimately it is a losing strategy and the tension of very short trades will wear you down. Remember there is the problem of the charges of spreads going in and going out (although most trading platforms hide the going out charge). It is hard to scalp with a risk to reward ratio of at least 1 to 2 because your stop losses will be hit frequently because of the normal wobble of the market. And if you add more risk (higher stop losses than your target to prevent that) one maximum loss is hard to make up.

Example: Set a SL for 30 pips and profit taking at 5-8. How many trades with profit of 8 pips will it take to make up for one loss and don't forget to include the spreads in and out????

You are trading against the banks and other big boys like hedge funds. They don't scalp and make lots of money off of scalpers. Their goal is to take your money and they are pros at that, wouldn't you say??? You need to think like them and set a target of 55 pips. Why? That's the minimum target they use. The reason is they use the Fibonacci sequences to signal other big boys and knowledgeable traders what they are doing.

Try trading both ways on a demo account and see which one works over time

You can try out MT4/MT5 with Fxview, they have a good trading conditions specially made for scalping. Low commission and tight spreads with instant order execution.

Gareylinn509 posted:
Honestly, I like scalping too. The profits are great but there are 3 things that you should consider before starting.
Pay close attention to placing all the trades carefully
Use the right tools for the live feed
Get a direct access broker

Thanx for your advice. I also like scalping. It will help me to make my decisions easily.

Scalping, if done correctly and with a good strategy, could give you peace of mind having no trades open while you go about your daily activities.
Lastly, Stick to your rules or it could be your biggest failure.

ImanTheTrader posted:
Scalping, if done correctly and with a good strategy, could give you peace of mind having no trades open while you go about your daily activities.
Lastly, Stick to your rules or it could be your biggest failure.

Do you scalp too? Is it profitable?

Hi, I only do scalping in the M5. Only one pair (GBP/USD), with SL = 15 pips e TP = 5 pips.

@mdundifx are you a consistently profitable scalper? I'd love to hear more of your experience with scalping. I've been testing a couple of strategies so I want to gain more idea.

Would love to know more about scalping and how effective but dangerous it can be for every trader, especially the newbie.

The scalping method in Forex can be based on various strategies that differ in the degree of aggressiveness, methods of analysis, the use of automated assistants for transactions, and other parameters.

Scalping is great but make sure you have some good idea of entry and exit points. Will help you a lot later. Good luck.

Though scalping is the last trading style i would opt, tight spreads and low commissions are a must when it comes to scalping,

Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.

GlobalScalper posted:
 Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.

I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.

ele020 posted:

GlobalScalper posted:
 Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.

I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.

Well, It's a profitable strategy for a while but if your strategy is so strong then you might sustain over a year but eventually, you'll lose all of your money after one year+.
That's why it's called 'Profitable Scalper doesn't exist after one year.
Thank you.

Antonio_K posted:
What makes you say that? Any experience worth sharing?

The only worth is when you would start scalping with your own money you'll understand everything. The market is the biggest teacher.

Have a nice day.

GlobalScalper posted:

ele020 posted:

GlobalScalper posted:
 Scalping ultimately is a losing strategy, don't waste your time and money.
Thank you.

I dont think its a losing strategy if done after proper tricks and tips.. Off course its trickier but we cant just name it a losing strategy.

Well, It's a profitable strategy for a while but if your strategy is so strong then you might sustain over a year but eventually, you'll lose all of your money after one year+.
That's why it's called 'Profitable Scalper doesn't exist after one year.
Thank you.

Isn't it ironic that you are 'GlobalScalper' and yet you say that it's a losing strategy? My point is that scalping is just a strategy like swing and positing trading. It may not work for you but it doesn't mean that all of the scalpers are not good. I'm sure there are some that has been in this business for a long time and has been making money using a scalping strategy. We may not know it because not everyone wants to talk or brag about it. I know a scalper that's been making money for 8 years so your opinion, my opinion, or other's opinion doesn't matter because he is making money. Scalping works for sure but it takes so much effort and discipline.