What do you think about scalping?
- Thread starter The whale
- Start date
Scalping is a trading strategy that involves making rapid, small trades to profit from minimal price changes. It can be risky due to high transaction costs and the need for quick decision-making, but it can also yield rewards for traders who are skilled and disciplined. I primarily trade using scalping strategies at Hotforex because I like to know outcomes of my trades fast.
Polakandil
Well-known member
Scalping is short term trading with target pips around 5-10 pips and using small timeframe like M5 or M1 or M1`15. Choosing low spread pair and broker is matter for scalping trader, low spread broker gives more benefits to get lower transaction cost. In FXOpen I lke scalping on pair EURUSD, or USDJPY because major pair has low spread from 0.0 pips, even possible get negative spread in TickTrader platform.
GeekyForex
Well-known member
Here are some tips to creating an effective scalping strategy:
1. Stay Updated: One of the key tips for scalping is using the economic calendar to stay updated with the latest news and events that can impact currency movements. Make it a habit to check the economic calendar regularly, so you don't miss any potential opportunities.
2. Focus on High-Impact Events: Not all economic events have equal impact on the Forex market. To maximise your chances of high probability trading, focus on high-impact events such as central bank announcements, GDP releases, and employment data. These are typically more likely to cause significant price movements.
3. Plan Ahead: Before entering a trade based on an economic event, make sure you have a clear plan in place. Set your entry and exit points, determine your risk tolerance, and stick to your strategy even if things get volatile.
4. Use Technical Analysis: While keeping track of fundamental factors is crucial when scalping with the economic calendar, don't neglect technical analysis either. Combining both approaches can provide valuable insights into market trends and help you make more informed trading decisions.
5. Practice Risk Management: Scalping can be fast-paced and high-risk, so it's essential to implement proper risk management techniques. Set stop-loss orders to limit potential losses and use appropriate position sizing based on your account balance.
1. Stay Updated: One of the key tips for scalping is using the economic calendar to stay updated with the latest news and events that can impact currency movements. Make it a habit to check the economic calendar regularly, so you don't miss any potential opportunities.
2. Focus on High-Impact Events: Not all economic events have equal impact on the Forex market. To maximise your chances of high probability trading, focus on high-impact events such as central bank announcements, GDP releases, and employment data. These are typically more likely to cause significant price movements.
3. Plan Ahead: Before entering a trade based on an economic event, make sure you have a clear plan in place. Set your entry and exit points, determine your risk tolerance, and stick to your strategy even if things get volatile.
4. Use Technical Analysis: While keeping track of fundamental factors is crucial when scalping with the economic calendar, don't neglect technical analysis either. Combining both approaches can provide valuable insights into market trends and help you make more informed trading decisions.
5. Practice Risk Management: Scalping can be fast-paced and high-risk, so it's essential to implement proper risk management techniques. Set stop-loss orders to limit potential losses and use appropriate position sizing based on your account balance.
Scalping is low risk strategy since you use tight stop loss hence your risk is quite limited. There is small risk of slippage or price gap but with reliable brokers like IB, Hotforex there is really slim likelihood that something may go wrong.
VasilTodorov
Well-known member
if you can handle your stress it that would be great
that is based on your character
if you think you can do it go and work on gold
that is based on your character
if you think you can do it go and work on gold
