NoahMartin posted: I suggest the traders to use proper money and risk management to avoid huge loss during scalping strategy. The key to prevent huge loss in scalping strategy is to make a minimal risk. That I can conclude for good strategy.
Rightly said Noah Martin! Scalping is risky when done carelessly. Adequate risk management is very crucial alongside money management.
Have been scalping for a long time just changed broker too Finpro an unregulated broker with office in London not a offshore bullsh.Broker they have many platforms good rep and listen too this a scalpers dream i pay 2 dollars a lot traded spread average 0.2 that is 4 dollars a lot traded before i used IC markets and tought they where cheap but they take 7 dollars a lot then you have brokers like XM who is totally out there with spreads like 1.2-2 that is impossible when you go for 1-3 pips like i do i am doing 50-60 trades pr day and with my shifting too finpro i will save 150-200 dollars a day i have deleted my fxbook and opened a new one i demoed with finpro for a week and going live now monday and will post results later in my old account i had 76% winrate and 1-3 pips TP and 2-3 pips SL so if you know your math in profit and that was months of trading...you need too use my link too open a True ECN V.I.P account with finpro you need too go in chat and get them too open a V.I.P account and a demo just tell them how much you are depositing standard account is 4 dollars a lot but they will give you a V.I.P account if you ask...And the best part that is the main reason why i use them is that they are smart and stay unregulated so they dont have too comply with ESMA`s maximum 30:1 and 20:1 maximum leverage and thats the only way too stay away from that bullshit...I trade high leverage of a not too big of a account and withdrael often...Will post myfxbook here in a month ore so and should have done abaut a 1000 trades
If you do not have adequate knowledge about what you are doing, in this case scalping, then yes it would be very risky. Just like anything else. The key here is to understand and know what you are doing. One should know how to manage the risk
audreycolln posted: If you do not have adequate knowledge about what you are doing, in this case scalping, then yes it would be very risky. Just like anything else. The key here is to understand and know what you are doing. One should know how to manage the risk
Good point, yes risk management is very important issue for doing scalping since, traders (scalpers) open so many trades in a day. For me, the risk percentage is only 1%.
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