What exactly is scalping in general meaning, and who can be successful with a scalping based strategy
The scalping can be a
viable short term trading methodology for anyone depends on the trading styple of the particular trader.
we can just look
at what exactly is scalping in general meaning, and who can be successful with a scalping
based strategy.
What is a Scalper?
A Forex scalper is considered anyone
that takes one or more positions throughout a trading day. Normally
these positions are based around short term market fluctuations as price
gathers momentum during a particular trading session. Scalpers look to
enter the market, and preferably exit positions prior to the market
close.
Normally scalpers employ technical trading strategies utilizing short term support and resistance levels for entries. While normally fundamentals don’t factor into a scalpers trading plan, it is important to keep an eye on the economic calendar to see when news may increase the market’s volatility.
High Frequency Trading
There is a strong misunderstanding that all scalpers are high frequency
traders. So how many trades a day does it take to be considered a
scalper? Even though high frequency traders ARE scalpers, in order for
you to qualify as a scalper you only need to take 1 position a day! That
is one of the benefits of scalping. You can trade as much or as little
as you like within a giving trading period.
Risks
There are always risks associated with trading. Whether you are a short
term, long term, or any kind of trader in between any time you open a
position you should work on managing your risk. This is especially true
for scalpers. If the market moves against you suddenly due to news or
another factor, you need to have a plan of action for limiting your
losses.
Who can Scalp?
So this is the final question. Who can be a scalper? The answer is anyone.
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Trading examples
Metaquotes demo
- MT5 statement is here
- Updated statement is here
- More trading updates
- Updated MT5 statement
- More updates
- 811 dollars for 3 trading days and final statement for scalping
GoMarkets broker, initial deposit is 1,000
- statement (77 dollars in less than 1 hour)
Alpari UK broker initial deposit is 1,000
- statement (517 dollars for one day)
RoboForex broker initial deposit is 1,000
- first statement
- updated statement (257 dollars in 2 days)
