Agent86
Sergeant
- Messages
- 194
Hi all,
I'm not a scalper and don't consider myself one, however I'm concerned that my trading style may be considered scalping by my broker ?
Backround of my style:
I've been testing my strategy for 3 YEAR STRAIGHT on a demo and doing quit well with consistent gains of 120 - 200 pips every single month with no consistent losses. Yes I said 3 years of demo trading LOL. NO robots but live manual trading.
Trading between 7am-12am est time which is good time for me to trade.
The question I have is that if I take a trade during the day typically on a 5min chart and a trade can last for 15 min. as long as 1 hour, and I have a clear entry and exit strategy.
Occasionally I get my exit signal and exit quickly and still end up in a small profit, but rare to be in and out that quickly.
As I've said typically I get my entry signal then I stay with the trade until it hits my target which can usually be 15-60 minutes approx. Then I'm usually done for the day after 1 trade.
Some days there is no trades at all so I have to wait till the next day or so.
Anyhow the question again is: Will a broker consider this scalping ? I don't feel this is scalping but more of a position day trading in my opinion.
I know typically scalping involves much shorter time frames and many trade the 1min charts ;and many in and out trades.
Do I have anything to worry about with a broker deciding to shut me down if I go live with consistent gains like this ?
Please advise what you think about this ?
Thanks
I'm not a scalper and don't consider myself one, however I'm concerned that my trading style may be considered scalping by my broker ?
Backround of my style:
I've been testing my strategy for 3 YEAR STRAIGHT on a demo and doing quit well with consistent gains of 120 - 200 pips every single month with no consistent losses. Yes I said 3 years of demo trading LOL. NO robots but live manual trading.
Trading between 7am-12am est time which is good time for me to trade.
The question I have is that if I take a trade during the day typically on a 5min chart and a trade can last for 15 min. as long as 1 hour, and I have a clear entry and exit strategy.
Occasionally I get my exit signal and exit quickly and still end up in a small profit, but rare to be in and out that quickly.
As I've said typically I get my entry signal then I stay with the trade until it hits my target which can usually be 15-60 minutes approx. Then I'm usually done for the day after 1 trade.
Some days there is no trades at all so I have to wait till the next day or so.
Anyhow the question again is: Will a broker consider this scalping ? I don't feel this is scalping but more of a position day trading in my opinion.
I know typically scalping involves much shorter time frames and many trade the 1min charts ;and many in and out trades.
Do I have anything to worry about with a broker deciding to shut me down if I go live with consistent gains like this ?
Please advise what you think about this ?
Thanks