Tytus_Barnowl

Member
96 8
If you want to scalp just use EMA crossover pullbacks. First have a directional indicator on a slightly higher timeframe, then a confirmation crossover with finally an execution pullback where you can place your order. Not something to set and forget but if you have the time then go for it.
 

NVP

Legendary member
37,504 1,972
just interested to know why are these indicators any more or less useful than any others for scalping ? ......I think personally there are many other far more important influencing factors than the indicators for mastering this genre of trading...especially in say Forex Scalp Trading
 

liamr

Newbie
2 2
Forgive me I trade FX so this may be different, but I find this a bit of a contradiction , If you are talking about Hard right edge why are lagging indicators used ? They look great after the event . The examples shown are also pullbacks which is real time price action, just curious ?
 

StuUK

Newbie
4 5
Indicators are the tools of B book brokers who know statistically that most retail traders lose (90-90-90 rule). Why do traders think indicators are there to help make profits. It is so frustrating. Professional traders (my nephew works at CitiBank) LAUGH OUT LOUD when you talk about retail FX traders as 95% succumb to the misconception of indicators. On a 1m chart MT4 standard indicators are useless and so are most of the others as they use the same data. They mislead and create confusion and despair.

The only way is to use non lagging tools that use realtime data for analytical purposes. There are one or two services out there but not widely publicised for obvious reasons.
 

StuUK

Newbie
4 5
Agree, we are food for b-book brokers. What are those non lagging tools you are talking about?
I am embarrassed to admit , like many people in FX I started with the usual rubbish that is shipped with MT4. The lure is clear to see in history but as a trader hungry for profit, it is difficult to realise that the don't actually work until it is too late and your money is hemorrhaging.

I then abandoned ALL indicators and traded on naked candlestick charts. Then, you can start adding a couple of tools that use the science of price action and realtime data from institutional feeds not MT4.

You find me a 'profitable professional trader' that uses the standard MT4 junk and data and I will show you a liar.

When you realise how the market really works and how to manage risk, you become profitable, REALLY profitable, but that journey is usually painful for those that fumble along with their eyes closed.

The free training I was given works on all timeframes but they specialise on 1 minute charts.
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock