Anyone scalping the GBPUSD, EURUSD etc??

Tempted

Member
81 1
I started trading forex in 2010 and i still do not understand how you can make profit from scalping the market. If anyone out there do scalp let me know how you do it to be profitable. Happy trading!
 

Jason Rogers

Senior member
2,768 92
I started trading forex in 2010 and i still do not understand how you can make profit from scalping the market. If anyone out there do scalp let me know how you do it to be profitable. Happy trading!
Hi Tempted,

You've tried scalping for 3 years without success. Have you considered longer term strategies? The advantage of longer term trading is that it can give you more time to carefully plan your trades. You can also be more selective and focus your attention on fewer trades.

In my experience, some people are drawn to scalping, because they like the idea of risking fewer pips per trade and being flat at the end of the day. However, it's possible to trade longer term with a smaller position size, and still keep risk in dollars terms down to 2% per trade.

Nowadays most brokers will let you trade microlots which are only 10 cents per pip.

Jason
 

neil

Legendary member
5,167 745
Hi Tempted,

You've tried scalping for 3 years without success. Have you considered longer term strategies? The advantage of longer term trading is that it can give you more time to carefully plan your trades. You can also be more selective and focus your attention on fewer trades.

In my experience, some people are drawn to scalping, because they like the idea of risking fewer pips per trade and being flat at the end of the day. However, it's possible to trade longer term with a smaller position size, and still keep risk in dollars terms down to 2% per trade.

Nowadays most brokers will let you trade microlots which are only 10 cents per pip.

Jason
Jason is correct.
And if you cannot scalp profitably after three years-isn't that an indication that you never will. Therefore, try Jasons suggestion and trade off higher timeframes (look at james16 thread over at Forexfactory).Good luck.
 

Rockfeller

Active member
106 5
1. Your overall trading costs have to be low. Every pip makes a difference even 0.1 pips.
2. I try to choose at least 1 to 2 risk reward ratio.
3. It was difficult for me to check all the charts and draw the zones to I asked one programmer to make me a EA what shows me the zones. (It`s useful to choose a Support and Resistance zones from higher timeframe)
4. I will make decision based on price action on lower timeframe
 

Eagle_

Newbie
9 0
I started trading forex in 2010 and i still do not understand how you can make profit from scalping the market. If anyone out there do scalp let me know how you do it to be profitable. Happy trading!
You should choose the broker that is good for scalping. Try Weltrade broker and test scalping on their demo.
 

Traderallen

Active member
248 41
Scalping the Forex market is not hard. In fact I believe it's easiest way to make money in the Forex market. For most people the problem is most of what is being taught online and written in trading books is not only just wrong it's downright crap.
Forget the pay me blogs forget the gurus and look for the real traders, watch and learn what they do. Forget the squiggly lines, gann fan, stochs and hoax this crossing that, overbought or oversold, Mac daddy bull crap. Learn to read price action support resistance where are the buyers and where are the sellers. That's all you need to know to make money scalping or long-term trading.
 

Dinos

Veteren member
4,112 713
Scalping can be done and can be profitable, I scalp and have done for many years, for me I like to be flat at the open and close of play. It took me a long time to define my scalping system, the system is rigid for entry, exit and stops.

I trade the AUD/USD & EUR/USD on a higher Tick count for a +10 Profit /- 7 Stop.

AUD/USD has set up 7 times today, winning 6 and losing 1, (Nett 63 pips)

EUR/USD has set up 13 times today winning 7 and losing 6 , (Nett 28 pips)

Its is tiring and you are glued to your screen, and I accept thats not for everyone, just suits my style of trading.

I also use the same tick count system on the DAX, on a +15 profit / -7 stop, 2 Trade set ups today for + 30 pips.

If you want to scalp, keep at it, drop me a pm and l'll pass across the tick setting l use for you to play around with.

Good luck
 

C-12

Junior member
22 0
Some EU scalps from Friday using a combination of M5 and M1.

Mostly just following price using supply and demand levels, momentum and PA.. (y)
 

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tdezo

Member
70 16
Dax and AUD Scalps for Monday 23 September am. Everything if KISS, Traded off 500 Tick, Heiken Ashi
candles and my trade line.

Scalping doesn't have to be difficult, traders make it difficult IMHO
Nice , how did you get IT Finance charts?
 

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