moonchild
VIP Contributor
Scalping is the act of trading on lower time frames and also involves getting in and out of the market a lot of times in a day, because as a scalper you make money from small movements of price on the lower time frames.
To start scalping, you have to dial down to lower time frame, like thirty minutes downwards, look out for market structures, which is basically understanding whether the market is trending or ranging, either way look for an opportunity to enter the market, execute and take your profits, when I'm scalping I don't use stops, I just measure where I want the stop to be and then ride through.
Candlesticks Patterns is the strategy I use for scalping, if I see a good formation, I'll execute the trade and take profits or exit in loss, depending on the results, you also have to be mentally prepared because you'll have loses, don't let them deter you, the goal of scalping is to close the day profitable, you may take a string of loss and then get your a home runner, pay attention to your overall trades not a single trade.
Scalping is typically a method of trading for those with smaller accounts or those that have enough time to monitor the charts throughout the day.
To start scalping, you have to dial down to lower time frame, like thirty minutes downwards, look out for market structures, which is basically understanding whether the market is trending or ranging, either way look for an opportunity to enter the market, execute and take your profits, when I'm scalping I don't use stops, I just measure where I want the stop to be and then ride through.
Candlesticks Patterns is the strategy I use for scalping, if I see a good formation, I'll execute the trade and take profits or exit in loss, depending on the results, you also have to be mentally prepared because you'll have loses, don't let them deter you, the goal of scalping is to close the day profitable, you may take a string of loss and then get your a home runner, pay attention to your overall trades not a single trade.
Scalping is typically a method of trading for those with smaller accounts or those that have enough time to monitor the charts throughout the day.