posterx Posted July 30, 2009 Report Share Posted July 30, 2009 Re: Scalping...is this a waste of time or can you.... I don't believe that it's possible to do scalping without having a robot.. It's just too time consuming to watch the trades. You can't even put a SL and TP in the trade as it will be to close with your price and most brokers will reject your SL and TP points. Many trends start at around the start of the London session. If you monitor at this time, you can be sure to catch some decent pips. This is especially true for GBPUSD and EURUSD. Quote Link to comment Share on other sites More sharing options...
fs740 Posted July 31, 2009 Report Share Posted July 31, 2009 Re: Scalping...is this a waste of time or can you.... I think you can definitely make money via scalping, assuming you have a solid system, and a cooperative, stable broker. Those can be big assumptions though. For the former, there are numerous that I've seen that are workable and profitable, but the latter can be harder to find. I heard someone once say that all forex brokers suck, some just suck less - I couldn't agree more. Quote Link to comment Share on other sites More sharing options...
simoniex Posted July 31, 2009 Report Share Posted July 31, 2009 Re: Scalping...is this a waste of time or can you.... all useless, because forex broker and banks aways hunt stoploss who less than 300 pips. so if u have anything less than 300 pips stoploss, just forget it Quote Link to comment Share on other sites More sharing options...
badai_chiko Posted July 31, 2009 Report Share Posted July 31, 2009 Re: Scalping...is this a waste of time or can you.... 300 pips SL.....this is for scalping.......Ohhh no nooo.....wrong reward ratio.....for me it's to tisk... Quote Link to comment Share on other sites More sharing options...
polaris Posted July 31, 2009 Report Share Posted July 31, 2009 Re: Scalping...is this a waste of time or can you.... all useless, because forex broker and banks aways hunt stoploss who less than 300 pips. so if u have anything less than 300 pips stoploss, just forget it Ah, I always wondered why those regular 300 pip spikes during non news time happen! =)) You can't be serious, can you? Even if you are using a 5 digit broker and your 300 pips mean 30 pips this is really not true. I understand that you need posts but please, don't write such misleading cr@p if you don't have a clue! :shand: Quote Link to comment Share on other sites More sharing options...
pipsahoy Posted July 31, 2009 Report Share Posted July 31, 2009 Re: Scalping...is this a waste of time or can you.... It helps to have 1 click order entry. You can have your take profit and stop loss preset. FXCM UK or Oanda have this, probably others. Quote Link to comment Share on other sites More sharing options...
noone22 Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... What is the definition of scalping then? Quote Link to comment Share on other sites More sharing options...
conggle Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... scalping needs very high level of skill, if you know HOW, you will get what you want! After god will. Quote Link to comment Share on other sites More sharing options...
willtrader Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... I normally trade traditional PA on larger time frames, however I also scalp 10s-1min charts on Oanda. People say it's noise, but patterns exist on all time frames. The confluence of TL's and patterns on 10s charts can make for nice runs with very little risk, that said spikes can be detrimental wiping out profit quickly. One could enter a 10s charts with a very tight stop then ride the momentum down to 10-20pips in very little time. I guess a lot is down to your own mentality, the setups are there you just have to be careful, even when scalping, not to force yourself to trade if there isn't there. As fun as scalping is I don't think it's the key to long term success. It's too demanding and often a buy and hold strategy would've yielded more pips in the long run, even if the overall risk was greater. Yes, you can be very successful scalping but if few people succeed in longer TF's, even fewer succeed in ultra short time frames. Incidentally I think to be a good scalper you need - patience and an excellent understanding of price action as well as knowing that what is useful on a longer TF is not always useful on an ultra short TF, and thus one is forced to look for a confluence of factors rather than single candlestick patterns. That's just my opinion though.. =) Diesel 10 1 Quote Link to comment Share on other sites More sharing options...
willtrader Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... Easy scalpings example =) Obviously this is in the past so I didn't trade it today but my point is if you trade price action, and a not a mechanical system, scalping is no different to working on larger time frames. One minute is pretty easy compared to a 10s chart. I didn't include but a TL from swing low to the next three pullback lows forms the high of the top, the retest of the top, the first reversal pullback, and the breakout pullback. Quote Link to comment Share on other sites More sharing options...
echoz Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... Scalp is good but need to secure your profit even if reach 1pips also..patient is the key point for entry...and always refer ur chart/ Quote Link to comment Share on other sites More sharing options...
Soprano888 Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... i think scalping is not waste of time, we are rish What do you mean rish???? Quote Link to comment Share on other sites More sharing options...
Soprano888 Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... Depends on the scalping method being used. Some scalping methods use large (>200 pip) stop losses. I believe these type of scalping methods are bogus. One loss wipes out weeks of profit. If you have a scalping method with a decent take profit/stop loss (efficiency) ratio, scalping works pretty well. This all depends on your broker too. Bad spreads or execution will kill any scalping strategy. Oh this is soooo true!!!!!!! =D> Quote Link to comment Share on other sites More sharing options...
honggo8 Posted August 1, 2009 Report Share Posted August 1, 2009 Re: Scalping...is this a waste of time or can you.... scalping is not waste of time, i like scalping fapturbo on Dukascopy Brokers works well Quote Link to comment Share on other sites More sharing options...
sebastian1713006095 Posted August 2, 2009 Report Share Posted August 2, 2009 Re: Scalping...is this a waste of time or can you.... Yea scalping seems like the easier aproach to start trading but it's not so easy, a scalper does a lot of trades, and doing more trades also mean you have more opportunities to blow it up. Quote Link to comment Share on other sites More sharing options...
danky Posted August 2, 2009 Report Share Posted August 2, 2009 Re: Scalping...is this a waste of time or can you.... Agree with sebastion. Scalping worked well for a while for me, then I blew up. It's a problem that you'll need to figure out before continuing on or it will keep happening. Quote Link to comment Share on other sites More sharing options...
astroo Posted August 2, 2009 Report Share Posted August 2, 2009 Re: Scalping...is this a waste of time or can you.... I hope LMT Like EA make EA Please Quote Link to comment Share on other sites More sharing options...
shivam Posted August 2, 2009 Report Share Posted August 2, 2009 Re: Scalping...is this a waste of time or can you.... Hello Friends, This is SHivam from India. I do bet on forex at betonmarkets. I fill that if you are able to undestand the logic of scalping then you can make a lot of money. Thanks & Regards, Shivam Quote Link to comment Share on other sites More sharing options...
everlcom Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Scalping...is this a waste of time or can you.... longer TF will provide less false signal... i agree with that Quote Link to comment Share on other sites More sharing options...
Roger10-4 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Scalping...is this a waste of time or can you.... I have no luck with scalping. I think automated scalping is the best, i had some success with a nice simple MA cross, but when it took a dive it dove hard. Quote Link to comment Share on other sites More sharing options...
greggysc21 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Scalping...is this a waste of time or can you.... I like scalping in 5 minute time frame Quote Link to comment Share on other sites More sharing options...
akhpp8395 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Scalping...is this a waste of time or can you.... the grail ea is probably one of the best scalp EAs Quote Link to comment Share on other sites More sharing options...
Kandi84 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Scalping...is this a waste of time or can you.... 5 min scalping is really profitable but its a little bit much stress! :) its drain your brain! :D Quote Link to comment Share on other sites More sharing options...
weirdgod Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Scalping...is this a waste of time or can you.... I stopped scalping with my own / manual trading... If i had 10.000 USD starting capital yes... but on $500 it Takes too much time for small gains... so i let it to EAs... Quote My Forex Trading Blog http://forex-trading-on.net Link to comment Share on other sites More sharing options...
Trader99 Posted August 5, 2009 Report Share Posted August 5, 2009 Re: Scalping...is this a waste of time or can you.... Great thread. In my opinion, scalping is simply a form of trading like any other. It works for some....and not for others. A trader has to find the style that best suits him/her. Quote Link to comment Share on other sites More sharing options...
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