Scalping: Where And How To Start

[moonchild]

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.

 

[Ivo Zetticci]

Strategy is made with a combination of multiple trading indicators. And strategy-based trading should be the target of all traders. A trader must be strategically-armed to shine in Forex. They must keep multiple strategies as a backup. As Eurotrader allows traders with a massive 111% deposit bonus, you can easily earn more.

 

[Asahi]

Both stock market and Forex market are chaotic based on market condition. Traders should take time to understand the market properly. Then they should go for live trading. Eurotrader provides traders with a free demo account and other facilities moderately.

 

[Shaf]

As a new trader, I looked at charts and saw a lot of profit making opportunities on lower time frames, but it was much harder than I thought and I lost money doing so. There's a reason why a lot of traders advise that only professionals use high leverage and scalp on lower timeframes.

There is a lot of noise here, there can be flash pumps and dumps due to news or change in fundamentals. Without experience, it's easy to get liquidated here.

I now mostly trade in higher timeframes, and I do day trading too, using the 4 hour chart most especially. This provides a decent balance for me, as I avoid the excessive noise of lower timeframes but I don't have to hold trades for a long period of time.

One thing with trading is that whatever time frame you use, it's best to take your profits without being greedy. Most people want 10% when that movement they are trading may only give 5%.

 

[Mary Frederick]

I can make decent amount of trading profit by trading in these pairs. Besides that there are also so many trading pairs alike whereon you can trade. Eurotrader charges narrow trading spread in majority of the trading pairs.