Day Trade or Scalp

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bognerje

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I posted a couple days ago on Scalping. I guess i want aware that Day Trading you could technically scalp but more or less, you can execute trades on a 30min, 60min, 2hr, etc.. time frame. I thought that was technically scalping and not day trading but its been pointed out to me that this really isnt the case.

So, my goal is to trade 2am-6am, London market prior to going to work. So my question is,

What would be the best strategy for this time frame ie, best charts i.e, 15min, 30min, 60min chart, indicators for this time frame, support/resistance etc..

this is the time frame that is loud and that i can work since i have a day job. Any help would be appreciated.

Sorry, forgot the currency. EUR/USD.
 
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If you have only 4 hours to trade I'd look at a smaller timeframe...5 min or so

I personally think fx is really hard to scalp, would prefer to trade something like the ftse, which opens at 2am for you.
 
Scalps turn into (good or bad) day trades unless you have very tight stops and good discipline.

Other than that, if you are new to scalping I say don't do it. Better to look for good set ups and day trade.

I do both but for different markets but only scalp because I get rebates for every trade I make (win or lose) so I try to do a lot of them. :) But if you are new, don't scalp I say.


bognerje said:
I posted a couple days ago on Scalping. I guess i want aware that Day Trading you could technically scalp but more or less, you can execute trades on a 30min, 60min, 2hr, etc.. time frame. I thought that was technically scalping and not day trading but its been pointed out to me that this really isnt the case.

So, my goal is to trade 2am-6am, London market prior to going to work. So my question is,

What would be the best strategy for this time frame ie, best charts i.e, 15min, 30min, 60min chart, indicators for this time frame, support/resistance etc..

this is the time frame that is loud and that i can work since i have a day job. Any help would be appreciated.

Sorry, forgot the currency. EUR/USD.
Click to expand...
 
alexa said:
Scalps turn into (good or bad) day trades unless you have very tight stops and good discipline.

Other than that, if you are new to scalping I say don't do it. Better to look for good set ups and day trade.

I do both but for different markets but only scalp because I get rebates for every trade I make (win or lose) so I try to do a lot of them. :) But if you are new, don't scalp I say.
Click to expand...

Is that because you are an IB?
 
Yes I am an IB but became this as my friend told me that I can get rebates if I affiliate with the broker and use my own link to open an account with them since I scalp a lot. And this was great for me.

I don't really market that side of things other than signature. I trade full time since about 2005 part time since 2002.
 
The problem is not gonna be the T/F or style.. It will be the small volume/moviment!
 
alexa said:
Yes I am an IB but became this as my friend told me that I can get rebates if I affiliate with the broker and use my own link to open an account with them since I scalp a lot. And this was great for me.

I don't really market that side of things other than signature. I trade full time since about 2005 part time since 2002.
Click to expand...

What kind of rebate do you get with them? I only ask because my mates an IB and he gets back around $8 per lot, I just wanted a comparison?
 
My broker does it a little differently. I get %ge of completed trades. You can negotiate with them, but I get 30% on mine and share of ravenue because I am an "off line " affiliate, meaning I had to pass some exams, money laundering certs etc. I also get a share of company ravenue. :)

Rossini said:
What kind of rebate do you get with them? I only ask because my mates an IB and he gets back around $8 per lot, I just wanted a comparison?
Click to expand...
 
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