I want some good strategy for Scalping
newdigital, 2013.02.14 14:35
Well ... now - about risk related to scalping. Scalping is very attractive for traders especially for newbies. But there are some difficulties/problems related to this trading style:
- it is very risky trading - big stop loss value or no stop loss with few pips taken as take profit. If market is reversed so the position will be open for the long time or close with stop loss. As stop loss value is big one so the trader can lose some part (or most part) of the deposit;
- some brokers are not allowing scalping so your trades will not consider as a valid ones because of the rules of the brokers. So, before trading scalping - ask your brokers about it;
- it is very difficult to make scalping trading manually without any EA or scripts. Just imagine - you are watching computer's momnitor for the whole day just to take few pips in profit only :) Scalping making manually is very hard job.
newdigital, 2013.02.14 14:41
So, we understand that scalping is very risly trading style. Besides, it is very difficult to make it manually in consistent way for example. What the developers/traders/coders are doing to minimize the risk?
- they are using timefilter. It is not a secret that scalping is making mostly on flat market condition. So, they are estimating 1 hour or few hours in a day to trade. For example, they are trading since 11 pm to 11 pm every day excluding Friday.
- they are using martingale as additional feature. For example: if the price went againt me by 20 pips so the other trade is open on same direction but with bigger lot size ... and so on. It is double risk: scalping (very risky) + martingale (very risky as well) = twice risk for trader.
- using fibo and pivot lines
- forecasting market condition in programming way
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There are 2 kinds of scalping:
- scalping in classical way (on the way of signal systems - trading on close bar only)
- scalping traded on open bar. It is most popular scalping for now - such as tick scalping (on close tick of course :) ). Traders are using special indicators such as Tick_MACD and so on for M1 timeframe in Metatrader just to get 10 seconds timeframe in reality. It is most modentr and cool scalping right now.
newdigital, 2013.02.14 14:45
I remember some talking between very experience trader and newbie:
- Trader:"do you know that scalping is very risky for you to trade?"
- Newbie: "yes, I know it"
- Trader: "do you know that you can lose most part of your deposit in one day?"
- Newbie: "yes, I know about it"
- Trader: "So, you will not use scalping in live trading?"
- Newbie: 'I will use it"
- Trader: "Why?!
- Newbie: "because it is very intreresting for me".
:)
Something Interesting in Financial Video June 2013
newdigital, 2013.06.11 06:55
Scalping the forex market
All the ins and outs on scalping the Forex market. May Chris dives into the world of Scalping where he explains in great detail how this style of trading can be accomplished in the Forex market. This live webinar not only clarifies how a trader can scalp but also provides every Forex trader with a great guidance and extra tips.
Hello ,
actually i am a long trader.But i want to also do scalping so anyone can help me share some good strategy for scalping
Regards
Jubaer
I use moving average indicator 5ema, 10ema and 20ema. and when the 5ema cross above both 10ema and 20ema, i enter Long and vise versa. it good for scalping. time frame should be M30
can you please talk about tp/sl ?
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Hello ,
actually i am a long trader.But i want to also do scalping so anyone can help me share some good strategy for scalping
Regards
Jubaer