Anybody a successful scalper?

RahmanSL

Major
Messages
2,536
So, do you really want to scalp the forex???

Here is a technique which I discovered accidentally on my first month out on a live trading account…But I have to warn that it takes full concentration and, once you got started, almost no time off from your computer. That means food, drinks and whatever else you require must be right there next to your trading station…And it’s extremely exhausting on body and mind.

Wait for a currencies pair to hit the highest level ever (like the AUD/USD at 1.1179 back in Jan 2011). Short as large a trade size as your account can handle without endangering account stop out in case of further movement upwards. Do not close this position as it has to be held (as safety margin) throughout the trading session.
When the pair starts the reversal and stop at a certain level (you can see that moment when the pair sort of stop and hesitated), enter a small (initially) long position. The pair will move back up and, before you close out that position, quickly open a short position before closing out that long position.
When market move downwards, once gain it will paused at a certain level deciding which direction to go. Quickly open a long position before closing out that short position. Market will move back up to a certain level and that’s when you quickly repeat the above process.

You can scalp and scalp, and at any lot sizes, till you literally drop...BUT as I have warned, it is extremely punishing on the body and mind.

I made closed to usd25k on a usd3k account in one trading session, but made the fatal mistake (still too new into trading forex at that time) in mixing a few other currencies pairs while trading the above technique ending in some heavy losses the following day which literally wiped out my entire account. Problem was that I became over confident as I though I just cannot loss or to endanger my account with large lot size trading.
After that trading session, I literally collapsed into a deep sleep and that’s when the heavy losses occurred and wiped out my entire account while I was out. On reflection, I should have closed out all opened positions regardless they are in losses..BUT, I was just too new to the game.

Since that time, I have not yet come across a good currencies pair set up….but I suspect I am not really looking because I am quite hesitant in trying that out due to the extreme punishment on body and mind…
Maybe one of these days, I will give it another try and, hopefully, I will be better prepared.

To anyone contemplating trading the above technique, please do heed my warning;yah!
 

Nick McDonald

ForexSignals.com Representative
Messages
37
Scalping is one of most exciting, but difficult strategies to implement. I actually think it's more effective to automate any strategy. If you think you've got a winning formula then get somebody to code it into a simple EA.

It sure beats sitting in front of the screen for hours and removes any emotion from the decision making.
 

lincolnppl

Private
Messages
15
Hello everybody!
Sorry for the late answer.
I just want to tell my experience.
When i investigated the world of forex, i had found that the best technique to me is the scalp.
Well, i have very many time to watch the screen, from my point of view it is a very important part of scalp trade.
From the other hand, with scalp you can get more profit with the same risk.
From an other last point of view, there are many type of scalping.
Personally i make technikal analisis from weekly chart (Its only few min/day) after a fast view from daily and so on and so on.
My favourite time frame is the 1min chart and the 5min chart.
Moreover i look the macro datas, it is very kind to my heart, because if you train a bit, you will look nice moves at these data releases.
So what i wanted to tell you is that, there are many type of scalp, if you have many time, and you like to analisis all the time, and you want to get more safe, then write me a letter, and i will try to tell you some more words about scalping.
So the last what i wanted to tell you a very important par of the scalp.
So The broker is really important. Many broker dont let you scalping, if i were you i would look for an ecn broker, they dont change the spreads at macro datas, and large volality.
And the ECN brokers let you close your positions even at 0.0pip.
Be carefully, and good luck if you want to start to study the world of scalping.
(Many people think that the scalp is dangerous, partially its true, but personally i open about 75-125position/day, mostly with little profit, long short mixed, After a some time you will recognize that you have for instance 80% successfully trades, then you can dive deep into the money management and so on.
All in all its a hard part of trading, and need a lot of learning, buit very exceting.
best for you
 

itkraze

Private, 1st Class
Messages
200
You can increase your scalping strategy if u practice more and more in demo account and you will be able to do scalp properly. There are also some techniques to increase the scalping strategy.
 

duck

Private, 1st Class
Messages
47
You can increase your scalping strategy if u practice more and more in demo account and you will be able to do scalp properly.

The problem with scalping a demo account is you won't always get the same fills with a live account. With a demo acconut, you'll always get the entries and exits you specify no matter the market volitility. But with a life account, additional processing requried to actually trade real money can make those order fills either not happen or happen with increased spreads, and with the very small % gains typical with scalping, that can mean the difference between making money or losing it.

Maybe brokers are getting better these days at fills, but that is something to be wary of. The better way to practice scalping might be to go with a broker that allows microlot trading (~10 cents/pip) and trade a live account with microlots. Real money, but with very small money.
 

Floriano

Recruit
Messages
70
The same way any other successful trader does it. With a Trading System, Money management rules and lot and lots of practice and discipline to the consistency of the system.
 

Pharaoh

Colonel
Messages
19,922
Somewhat true, but consider a scalper going for 2 pips vs. a trader aiming for 50 pips.

The trader wanting 50 pips can take his time with the setups and probably even enter and exit with pending orders, thus reducing the chance of slippage. Even so, if he loses 5 pips on every entry and exit, he still gets 40 pips on each successful trade.

If the scalper with a 2 pip target loses 1 pip on entry and 1 on exit, all his profit is gone.

I'm not saying there are not profitable scalpers out there. I am saying that there are many scalpers who are profitable on demos and not profitable on live accounts.
 

itkraze

Private, 1st Class
Messages
200
The same way any other successful trader does it. With a Trading System, Money management rules and lot and lots of practice and discipline to the consistency of the system.
Right, discipline and proper practice is necessary for the trader so trader should increase their trading skills to perform better scalping otherwise scalping is very risky so trader should trade with proper plan.
 

LoRio

Sergeant
Messages
484
Somewhat true, but consider a scalper going for 2 pips vs. a trader aiming for 50 pips.

The trader wanting 50 pips can take his time with the setups and probably even enter and exit with pending orders, thus reducing the chance of slippage. Even so, if he loses 5 pips on every entry and exit, he still gets 40 pips on each successful trade.

If the scalper with a 2 pip target loses 1 pip on entry and 1 on exit, all his profit is gone.

I'm not saying there are not profitable scalpers out there. I am saying that there are many scalpers who are profitable on demos and not profitable on live accounts.

Good ol days where scalping meant 30-80 pips.300 pip daily range.nice ****
 
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