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What is fast forex scalping?

Gingerrogers
Mar 12 2021 at 12:03
28帖子
Forex scalping can give you good results but you need to have a good experience in scalp trading, else you know how you might land up.

Harshalmark09
Mar 13 2021 at 09:51
15帖子
@Gingerrogers it’s not just about experience. One cannot ignore the fact that a good broker is must for scalp trading. You might be having every knowledge of scalping but what are you going to do, if the broker only does not give you those features that are imperative for scalping such as tight spreads, fast order execution.

Alisson332
Mar 13 2021 at 11:43
23帖子
Harshalmark09 posted:
@Gingerrogers it’s not just about experience. One cannot ignore the fact that a good broker is must for scalp trading. You might be having every knowledge of scalping but what are you going to do, if the broker only does not give you those features that are imperative for scalping such as tight spreads, fast order execution.

I cannot agree less to it. I have myself used this strategy for 3 months with Pepperstone by studying their bar graphs and charts. I have realized that experience and a good broker will go hand in hand in any of the trading methods.
And hey, before you guys jump on 3 months being too short a time and all, I wanna clear that I don’t believe in all that rome wasn’t built in a day kind of bull. It’s a digital world and things ought to be quick!

phillipgriffin
Mar 15 2021 at 05:03
33帖子
I want to try scalping but I have set my foot in day trading and now I am scared to try any other method.

Sar John (Sarjohn)
Mar 16 2021 at 08:21
187帖子
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.

josejames
Mar 16 2021 at 09:26
16帖子
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.

Elena Triston (ele020)
Mar 16 2021 at 09:36
219帖子
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.

The more your practice, the more you learn.
Raheemsterling22
Mar 16 2021 at 11:47
31帖子
Your exit strategy is one of the most important things that you should focus on while scalping because one large loss can eliminate all the small gains that you made over time. So, better make sure that you have a direct-access broker and can keep an eye on the live feed scalp without losing.

Gracewilson1995
Mar 16 2021 at 11:49
147帖子
Hearing this term for the first timee.

Raywilkins665
Mar 16 2021 at 13:22
24帖子
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.

richardmarcus
Mar 17 2021 at 05:28
104帖子
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.

hitterbull
Mar 18 2021 at 07:10
32帖子
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.

unsightlydray
Mar 19 2021 at 05:29
53帖子
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
Mar 19 2021 at 08:19
59帖子
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 :)

Sar John (Sarjohn)
Mar 22 2021 at 08:09
187帖子
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.

phillipgriffin
Mar 23 2021 at 04:48
33帖子
Are there any rules I need to follow for a long entry?

richardmarcus
Mar 23 2021 at 08:52
104帖子
phillipgriffin posted:
Are there any rules I need to follow for a long entry?

just some basic trading knowledge

tacosgild
Mar 23 2021 at 09:44
18帖子
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.

Willemcurtis
Mar 24 2021 at 09:22
26帖子
Hey Philip, If you want to open a long entry based on the 1 minute scalping strategy, wait for the 50 period EMA to cross over the 100 period EMA. I have seen that this helps the stochastic indicator to pull back and return from the overbought market condition.

Kylealker87
Mar 24 2021 at 11:20
34帖子
I didn’t know scalping work only in the busiest market hours. The wider spreads and slippage literally ate up my profits.

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