Scalping in Forex

Quick question, why do you guys think the general concensus is that you cannot scalp in fx? I have never ever been in a trade and not been at least 10 pips in profit at any stage in that trade (usually throughout that day too) so why do you think people always say it's impossible to successfully scalp in forex?

Opinions...

I don't know, do they?

fxtrader85 said:

Quick question, why do you guys think the general concensus is that you cannot scalp in fx? I have never ever been in a trade and not been at least 10 pips in profit at any stage in that trade (usually throughout that day too) so why do you think people always say it's impossible to successfully scalp in forex?

Opinions...

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I reckon you're mixing things up with spread betting buddy were *scalping* on, for example, GBP/JPY with a 7 pip spread, no level 2 info access, latent pricing and 3 GS aint gonna work. I'm with you, trading on v.short TF's on pairs such as cable off FXCM active trader or with FXpro, paying less than 2 pips per trade and no GS isn't too bad way of earning a decent wage...

To all new traders: Scalping does work. Forex does make money.

I used to wonder about these things when I was new too. But after learning what the hell I was doing, I've proven to myself that it's for real. My skills steadily grow and my doubts steadily die. I think everyone has to prove this for themself to truly believe it.

Now my only wonder is, how long till I feel comfortable enough to do this for main income?

I'll say this though, I hate paying brokers any more than I have to, so scalping is not necessarily for me.

lbranjord said:

To all new traders: Scalping does work. Forex does make money.

I used to wonder about these things when I was new too. But after learning what the hell I was doing, I've proven to myself that it's for real. My skills steadily grow and my doubts steadily die. I think everyone has to prove this for themself to truly believe it.

Now my only wonder is, how long till I feel comfortable enough to do this for main income?

I'll say this though, I hate paying brokers any more than I have to, so scalping is not necessarily for me.

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oh great one, please give me the insight you obviously have of this world of gambling ,oops.... sorry, "investing" :whistling

BlueChilli said:

oh great one, please give me the insight you obviously have of this world of gambling ,oops.... sorry, "investing" :whistling

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Doesn't matter what you call it, won't offend me.

So Chili, you deem that no one one this board can or has made money trading forex, and you are a full time trader of a few years according to your profile. Given the scenario, why would you come here?

Why don't you find someone who can teach you something rather than bash other traders you see as beneath your abilities? I don't see the logic.

Thats it : I only meet people who try to make swingtrades .....
but in Februar are no trends and we got hole year only 10 % in trends the rest are ranges
So I see traders cover their trades to get more points ....
I analyse the markets since 10 years and found out that :
the moves are getting shorter , now the optimum is 0.5 - 4 hours per trade .
But I got trades with 15 -50 points win , sometimes I go out after 5 minutes .
The reason is , the market got too many ,,noise`` , so it is too dangerous , to trade
through because the risk is too high , or I say the points were lost for nothing .
I will trade , whatever the trades bring , and when I got 15 points I go out .
The mean thing is at the trades how they course , when they not go well I go out .
I change often the broker because they called me ,,a crazy scalper `` , now I got
a ECN Broker and I could set my Stopploss 2 Points away ...:cheesy:
Thats the problem : too many BUCKETSHOPS coming up (like cancer) teach you to
swing , when there is no swing posible ....
because they want you to lose your money , simple thing , nothing else ...
I learn my lesson about this and would never change my tradingstyle for a Broker .

have a nice day

lbranjord said:

So Chili, you deem that no one one this board can or has made money trading forex, and you are a full time trader of a few years according to your profile. Given the scenario, why would you come here?

Why don't you find someone who can teach you something rather than bash other traders you see as beneath your abilities? I don't see the logic.

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Chilli ive just read your post on this thread and on the cable thread. Regardless of whether you are right or wrong, would just like to say you are a dick. Thank you.

Who is this chilli character? I think he likes the sight of his own text...

But anyway, yes blackswan I'm referring to SB'ing but I suppose the same concept could be applied to other trading platforms (only focusing on pairs with small spreads, gbp/usd, eur/usd)

Enter a trade via your usual entry rules, wait for a 10-15 pip movement and exit. You'll likely to get a move that satisfies this requirement in just one candle (from 5m charts up) And this will probably happen regardless of trade direction! Personally, I think the main thing that hurts traders is greed. Gecko wasn't right, greed isn't always good!

I much prefer daily/3hr/1hr charts. Ask yourself this, if you refunded half the dollars you spent on spreads during a scalping session, how rich would you be then?

When I scalped, I did ok but now on my daily and 1 hr plans I'm doing much better, with less chart time and stress.

lbranjord said:

I much prefer daily/3hr/1hr charts. Ask yourself this, if you refunded half the dollars you spent on spreads during a scalping session, how rich would you be then?

When I scalped, I did ok but now on my daily and 1 hr plans I'm doing much better, with less chart time and stress.

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I like you, you're right. I suppose it's the newbie fascincation with wanting to look at charts all day, trying to look important. I may just revert to a 4H strategy, less stress and more reward, no brainer!

fxtrader85 said:

I like you, you're right. I suppose it's the newbie fascincation with wanting to look at charts all day, trying to look important. I may just revert to a 4H strategy, less stress and more reward, no brainer!

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Hey FX,

If you like trading that way, check out my Pip Trap strategy that I posted. It's a cool way to make a little more each week and a Set and Forget system. Five minutes in the morning and you are good to go!

Also, if you can think of any way to optimize it, I'd be game to try it.