Scalping in forex trading means taking advantage of currency pair changes over a short period of time. Forex traders that scalp usually use high leverage and aim for less than 10 pips within a few minutes. Scalping is considered like dangerous practice by professional traders. What do you think about that.
Scalping or not?
- Thread starter Rambo35
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I think scalping is Profitable and less risky. I say this because of the way the trader opens and closes positions. This is unlike the situation where you have to open a trade and get your eyes off it for many hours. Scalper always glue their eyes to their traders and are able to pull out immediately they feel they are losing too much. This is a very profitable strategy, and also a very good reason why many brokers do no allow it.
Scalping is a very slow way to take Profit in forex. For some, it is the best, while others aren't patient enough. Still, it is not an acceptable way of trading for many brokerage firm. Trade wisely.
In forex trading you can scalp as much as you want, and I think scalping is more like gambling than trading which means in the end you will lose.
scalping is actually a forex trading strategy used by forex traders to buy a currency pair and then to hold it for a short time period in an order to make a profit.
Scalping should be done with EA. If you start to do scalping manually then there is a big risk that you can't control your emotions if you have a losing streak. (Happened to me 3-4 times when I started)
LOL, every trader including newbies have been tempted to scalp..as to whether they succeed, well that's another story altogether..
Scalping
Scalping is more a frame of mind rather than a "strategy". Whereas a strategy implies using information and indicators to develop a trading plan scalpers generally rely on their gut reaction to price movement to enter a position and then hope that volatility will give them an opportunity to exit at a profit.You can make money if you've seen enough price action to have developed a knowledge of repetitive chart patterns and their accustomed outcomes, but it can be either very rewarding or catastrophic depending on luck and self discipline. The scalpers credo " my first profit is my best profit" has got to be adhered to.--EB
Scalping is more a frame of mind rather than a "strategy". Whereas a strategy implies using information and indicators to develop a trading plan scalpers generally rely on their gut reaction to price movement to enter a position and then hope that volatility will give them an opportunity to exit at a profit.You can make money if you've seen enough price action to have developed a knowledge of repetitive chart patterns and their accustomed outcomes, but it can be either very rewarding or catastrophic depending on luck and self discipline. The scalpers credo " my first profit is my best profit" has got to be adhered to.--EB
I guess that's one of the inherent dangers of being a new trader, the $$$ expectations..believe me, we have all been there and done just that..
There's quite a bit of info on scalping strategies, for advanced traders..not checked it out in detail yet..
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