Is scalping a viable forex trading strategy?

Discussion in 'For novice traders' started by Francmorio, Dec 28, 2017.

  1. Francmorio

    Francmorio Member

    First according to Investopedia, Scalping in the forex market involves trading currencies based on a set of real-time analysis. The aim of this kind of strategy is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit. The truth is, 90% of traders practice this kind of stretegy,, and that could be the reason why 90% of traders lose money. Scalping is good, but if you can day trade, then this will be the best strategy.
     
  2. andengireng

    andengireng Member

    A scalper assumes that if the price changes direction from what had been expected before he would soon be out from Market. The psychological disadvantage commonly borne by a person scalper is 5-10 points. In everyday life, scalper always see the development of graph 1 - 10 minute. If the reverse direction quickly then the scalper did not hesitate close position. If the frequency of close position more than once and repeatedly it will accumulate considerable losses.
     
  3. NewbieTrader

    NewbieTrader Member

    Scalping is tiring, that's what I know for sure :D It's like a sprint in the trading world. I myself like a little marathon.
     
  4. Tengkorakfx

    Tengkorakfx Member

    haha, I knew that. but I enjoy that strategy because that my style is. every trader has its own style for trade. and what is your style anyway?
     
  5. NewbieTrader

    NewbieTrader Member

    i like trading long. shooting for a long result unless there's a significant movement in the market. it's boring, I know. but it's safe :D
     
  6. Tengkorakfx

    Tengkorakfx Member

    Oh you don't like the challenge, do you? hihi but it's an okay. Which timeframe do you used to trade anyway?
     
  7. NewbieTrader

    NewbieTrader Member

    hahah i do like challenges. but too much can drain you!
    I am a nightowl here in my country. I trade somewhere near midnight on GMT+8.
     
  8. andengireng

    andengireng Member

    Scalping has a fast-paced movement so traders must be truly focused and able to decide quickly. If your attention is distracted for a while, the opportunity to get a profit can be overlooked. Therefore, a scalper must sit for hours at the computer during the trading process. It is undeniable that health and emotional conditions will also greatly affect.
     
  9. Tengkorakfx

    Tengkorakfx Member

    I do agree with this. Also, scalping is a method where you can move with the current big trend on a pair. For example, we can see a downtrend in GBPJPY, we can zoom in to lower timeframes and spot the right level to trade (in this case, SELL). Most scalpers tend to not using SL since the believe the price would still going to the recent trend.
     
  10. andengireng

    andengireng Member

    Scalping is one of the selected trading tactics for many forex traders. However, it does not mean that one way of trading is free from pros and cons. Many say that this other strategy will be more profitable than Scalping Strategy, Day Trading and Swing Trading makes more sense and is possible to gain profits in forex. Let's try to prove it !!
     
  11. broforex

    broforex Member

    Scalper requires accuracy and high level of concentration to benefit from the fast moving forex market. So, Scalping strategies cannot be done during office hours or when traders cannot focus on the trading platform.
     

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