What is scalping

Discussion in 'For novice traders' started by Francmorio, Sep 21, 2017.

  1. NewbieTrader

    NewbieTrader Member

    right, the larger the fluctuations the better chances it is for scalping. what do you think is the best pair for scalping nowadays? i am interested in scalping sometimes. but still haven't researched it well.
     
  2. Tengkorakfx

    Tengkorakfx Active Member

    Maybe I would suggest pairs that related to GBP, such as GBPUSD, GBPJPY and so on. The fluctuations are kinda huge compared to other pairs...
     
  3. broforex

    broforex Member

    Can you profit successfully with this scalping strategy? It is a fact that there are profit traders when using it. However, whether this is suitable or not for you is a different matter. Success in scalping does not only depend on indicators or strategies, but also on Money Management and Risk / Reward Ratio. For the last two things, each trader still needs to train and discipline himself to do it, even though he has applied the best scalping technique.
     
  4. NewbieTrader

    NewbieTrader Member

    hmm interesting, I think it may have something to do with brexit. what do you think? this huge international event is affecting many aspects, especially financial and economy. watch out!
     
  5. Tengkorakfx

    Tengkorakfx Active Member

    Yes, it is. Besides, we can take a long term trading opportunity on some pairs. One of them is EURGBP that I draw my trading plan on my thread...
     
  6. broforex

    broforex Member

    I never trade on EURGBP, but your thread is interesting, I want to know more about EURGBP so I'm not only trading in 1 pair, but also several pairs. Thank you.
     
  7. NewbieTrader

    NewbieTrader Member

    oh this is indeed an interesting pair. EURGBP, it's like a big match in football :D like Barcelona vs. Real Madrid. hahahah. i might take a look into this pair for this brexit thing. can you copy paste the link to your thread bro?
     
  8. broforex

    broforex Member

    Scalping technique is a method where a trader takes small profits regularly by opening and closing positions several times a day. In this way, traders try to get profit when fast movements occur. A scalper will act quickly when the release of economic data or significant news that affects the economic movement takes place.
     
  9. broforex

    broforex Member

    I want to add some opinion about this, The maximum risk for each transaction should not exceed 2% of your total Balance. Understand risk management first so that your trading is more disciplined.
     
  10. liafatlouie

    liafatlouie Member

    The ideal scalping technique on TF is 5 minutes using the moving average indicator, there are also many traders who do on TF for 1 minute but usually, the pips obtained are not proportional to the spread.
     
  11. Tengkorakfx

    Tengkorakfx Active Member

    Couldn't agree more on this one. But make sure to check higher timeframes for trend changing so you would not suffer loss that much when that happened
     
  12. broforex

    broforex Member

    Yes, 1 minute or 5 minutes TF is okay, the point is the lower TF. Talk about spread, it is good if you trading with FreshForex and choose 0 spread account, it is good for your trading activity
     
  13. liafatlouie

    liafatlouie Member


    Usually which currencies are suitable for scalping technique?
     
  14. Tengkorakfx

    Tengkorakfx Active Member

    Get the pair majors or the one with high liquidity of the price movement. Scalping tend to only take few points in a matter of seconds so you need the pair with fast movement
     
  15. broforex

    broforex Member

    Trading costs are very high and traders should always be aware of widening spreads. Keep in mind, spreads on certain currency pairs can be as high as 5-10 pips or more, so that Scalping does not make a profit but instead loss
     
  16. liafatlouie

    liafatlouie Member

    Thanks for the advice, Sir! The scalping technique is indeed popular with traders because of its large profit achievement.
     
  17. Tengkorakfx

    Tengkorakfx Active Member

    Scaling up the trading lot is not easy. But as long as you have proper risk management, you can survive with scalping in Forex
     
  18. broforex

    broforex Member

    With scalping, the chance of getting an incoming signal is relatively high. When the scalping process runs, traders generally do not target profits of more than 10 pips from each trade, and lose no more than 7 pips. With this ratio, scalping traders generally do not follow the rules of risk management.
     
  19. ljfbganhluda

    ljfbganhluda Active Member

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  20. liafatlouie

    liafatlouie Member

    Scalping techniques are very attractive to traders even though high risk. Of course, traders must choose a Freshforex broker that allows the use of scalping techniques.
     

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