scalping basic

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scalping basic

Postby gudecorey » Tue Jul 21, 2009 7:35 pm

Hi I"m new to your system i"ll been trading forex for awhile and found out about scalping . My question is basic of scalping do u set a take profit ,do uneed to know what your quote is and then set stop-loss or trail stop-loss what do u reccommend i have a very small amount balance that i'm working with even if i could gain .35 cent to 40 a hour that would help just need help understanding scalping please help someone respone love trading just trying to understand varoiuable involved in scalping .
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Re: scalping basic

Postby Edward Revy » Tue Jul 21, 2009 8:09 pm

Yes, ideally you should have both: take profit and stop loss orders in place.
However, due to the nature of scalping - speedy trading - if you're unable to quickly set both orders, look to set at least a stop loss order or a trailing stop. If a trade develops quickly, you'll be exiting manually, otherwise you'll have time to add a take profit level as well.

Some trading platforms allow setting your preferred stops loss in pips in advance, for example, SL is always set to 10 pips. When you enter a trade, the stop is placed automatically, and you save time. Same applies to TP levels.

An additional advantage for scalpers is the ability to use one-click trading which requires no order confirmation: 1 click in, 1 click out.

Regards,
Edward
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Re: scalping basic

Postby scottshubert » Tue Jun 15, 2010 1:22 am

gudecorey wrote:Hi I"m new to your system i"ll been trading forex for awhile and found out about scalping . My question is basic of scalping do u set a take profit ,do uneed to know what your quote is and then set stop-loss or trail stop-loss what do u reccommend i have a very small amount balance that i'm working with even if i could gain .35 cent to 40 a hour that would help just need help understanding scalping please help someone respone love trading just trying to understand varoiuable involved in scalping .


You can save so much time and frustration by discovering how much easier it is and less risky to enter and exit trades on a slightly longer time frame. The idea of scalping is based on a limited belief and it prevents traders from enjoying the natural flow of profit that comes from entering a trade at the right time and exiting a trade at the right time using a method that really works. It is actually easier to get 100 PIPS per trade than it is to get 10 PIPS per trade. It is much more difficult to scalp, much riskier and the result is much less profit. work harder, make less.

scott
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Re: scalping basic

Postby Rom » Mon Jun 21, 2010 5:26 pm

- New ideas usually come by by accident, like inkjet

I don't know what this is, it seems to to indicate trend on Weekly and Daily timeframe.
I tried to find corresponding period for ema, that became as low as ema 2 crossing ema 3 ??

If it is faster than ema 2 and ema 3, maybe usable for everything
Attachments
hTrend.mq4
MT4 indicator
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Re: scalping basic

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Re: scalping basic

Postby davidson333 » Mon Jul 03, 2017 6:30 am

There are 2 kinds of scalping:

scalping in a classical way (on the way of signal systems - trading on close bar only)
scalping traded on the open bar. It is most popular scalping for now - such as tick scalping (on the 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 modest and cool scalping right now.

https://worldcore.eu/Help/
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Re: scalping basic

Postby david100 » Mon Jun 18, 2018 6:39 am

I am also practicing scalping. All I know is,
1)Scalp most liquid pair such as EUR/USD.
2) Avoid major fundamental news release time as the spread can be widened and gaps can occur. That can cause to trigger your stop loss away from your initial position.
3) Well..money management of course, you should prepare the excel sheet of your position sizes.
4) Scalp at the busiest time of the day such as London and Newyork overlap period.
5) Finally, if you are a beginner to forex, professional won't recommend the scalp trading. Instead, start with swing trading style.

https://www.myfxbook.com/members/DavSca ... 0k/2563034
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