Scalping is the Ultimate! - Page 40
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Thread: Scalping is the Ultimate!

  1. #1
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    Cool Scalping is the Ultimate!

    SCALPING IS THE ULTIMATE:
    As the name implies, I am a scalper all the days of my forex trading and this is scalping trading strategy which is done on the 5 minutes time frame. So what I do is to follow the main market trend on the one hour but using the 5 minutes time frame to know when to execute my trades.


    Method of trading:
    Whenever the price starts to move in one direction and the X super trend indicator is green then it is a buying trade but I would wait for the price to come back to test the 55EMA then I would execute my buying trades. Also, whenever the price started going downward and X super trend indicator is red then it is a selling trade but I would wait for the price to come back to test the 55EMA then I would execute selling trades.

    Attachment 26997
    Attachment 26998


    MONEY MANAGEMENT AND STOP LOSS:
    There is no need trying to become wealthy over night and as such I have developed huge discipline to stick to good money management which is the backbone of successful forex trading. So for each $100 in my trading account I shall use just 0.01, and my stop loss is set 30 pips and my take profits is set 20 pips.

    OBJECTIVE:
    Is to start earning consistently off smaller time frames and compound my trading account as to have huge trading account and in so doing I would in turn start earning huge amount of money off the field of forex trading. Like I said before I am not in a hurry but I am taking my time knowing that it would work. Currently, I have $42 in my trading account and I will keep on trading it until I build it and will always show my stages in this trading journal as to teach and learn from others.

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  2. #391
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    Quote Originally Posted by ola4real View Post
    I guess if you know how to trade the forex trend and reversal, you will get to gain much through the movement of the GBPUSD of this week. There were many traders who are happy about the movement of this asset this week, some forex traders are sad due to the fact that they lost their investment. In any way it could be for traders, a better trading analysis is needed, and i do not look at the fundamental side of trading.
    GBPUSD movements are very interesting always as it is very volatile pair and we can have big spikes one or another direction. GBPUSD movement down was expected as it broke the strong support level. But currency can not move only down and down and let to earn for many retail traders. It has to make a correction too and take all the badly placed stop losses.

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  3. #392
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    Quote Originally Posted by Rola View Post
    GBPUSD movements are very interesting always as it is very volatile pair and we can have big spikes one or another direction. GBPUSD movement down was expected as it broke the strong support level. But currency can not move only down and down and let to earn for many retail traders. It has to make a correction too and take all the badly placed stop losses.
    As the GBPUSD is interesting to trade, it should be careful about. I know that i said many good things on this asset in my previous post, but in the other hand, it is not all forex traders who can be trading the volatile asset, that is the only condition here. I think that if forex traders has all it takes to trade the scalping, i am of the opinion that the trader will not be regretting trading the GBPUSD asset.

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  4. #393
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    Quote Originally Posted by ola4real View Post
    As the GBPUSD is interesting to trade, it should be careful about. I know that i said many good things on this asset in my previous post, but in the other hand, it is not all forex traders who can be trading the volatile asset, that is the only condition here. I think that if forex traders has all it takes to trade the scalping, i am of the opinion that the trader will not be regretting trading the GBPUSD asset.
    It like to trade volatile assets like GBP USD because with such currency pairs we can quickly realise profits, but when price wants to deal with us, the losses also comes quickly as well, GBP USD is attempting to do a reversal but it has not been confirmed as price have not effectively taken out the resistance at 1.2730, I am earnestly anticipating that this level would fail so that my buying can be activated. I want to buy until 1.2800 before I hold on for a retracement.

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  5. #394
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    Quote Originally Posted by ola4real View Post
    As the GBPUSD is interesting to trade, it should be careful about. I know that i said many good things on this asset in my previous post, but in the other hand, it is not all forex traders who can be trading the volatile asset, that is the only condition here. I think that if forex traders has all it takes to trade the scalping, i am of the opinion that the trader will not be regretting trading the GBPUSD asset.
    gbpusd is interesting but its big risky also there are some issues, i am sure we can lose if we do not have proper analysis about news, make sure you know about news about brexit and elections in these days, these are most important topics for us, we can do well just if we know these otherwise we can do wrong and can lose here easily

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  6. #395
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    Honestly, the scalping is one of the best things I have every seen in the field of forex trading business when you possess enough trading skills and you have good experience and knowledge which are the backbone of successful trading. I am saying this because in one day I would have to trade like two to three times and be able to close them within a small time period and even with some profits and even when I am losing because they are part of the forex trading business it is small. The main thing about scalping is that it requires that we possess the right mindset and good risk management.

    I am currently buying the EURUSD and would close it whenever the price moves in my favour for about 20 pips and when it goes against me with the same amount of pips then I would close it and wait for another opportunity.

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  7. #396
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    @Penuelophir I just read your first post again and notice that you a take profit from each trade of 20 pips and the stop loss is 30 pips, meaning you will lose more when your analysis is wrong, is that not against the rule of money management, why are you putting more risk into the market than what you are expecting, I find that as inappropriate for a trader because it would make it difficult to recover after a drawdown.

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  8. #397
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    Quote Originally Posted by Leonvic View Post
    @Penuelophir I just read your first post again and notice that you a take profit from each trade of 20 pips and the stop loss is 30 pips, meaning you will lose more when your analysis is wrong, is that not against the rule of money management, why are you putting more risk into the market than what you are expecting, I find that as inappropriate for a trader because it would make it difficult to recover after a drawdown.
    Thanks for the question I have been able to modify the trading systems so greatly that I do not need to lose up to 30 pips anymore because before the price would start hitting my stop loss I have a trading tools that tells me that it must hits and as a result I would get out of the trades on time without losing up to that 30 pips. You know one thing we should be doing each time that we have develop a trading system is to make sure that we are able to start learning more about them over time which is the key to fully making it to become a lot more profitable and using the trading tools to master the forex market too.

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  9. #398
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    Scalping is the risky method to trade but its results are fruitful. If you have practiced enough and can make 2-3 successful trades per day then you are a good scalper and can make it consistent with effort and hard work. Everyone needs to work hard on their own strategies to get success and I would recommend everyone to have their own strategies rather than following others.

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  10. #399
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    Quote Originally Posted by No Or View Post
    Scalping is the risky method to trade but its results are fruitful. If you have practiced enough and can make 2-3 successful trades per day then you are a good scalper and can make it consistent with effort and hard work.
    Scalping as a strategy is quite risky but also very reward and exciting. I have tried scaping before, it great but it takes time because you need to put all your attention to the market, it is not good if you are not a full time trader. Also scalping needs a trader to think very fast and take fast decisions immediately, or watch the already profitable trade to become a losing trade.

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  11. #400
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    @Diong
    well this can be said to be more suitable scalping for traders who educate their lives for trading, because they have a lot of time to trade and can always monitor price movements and as you say always in front of the market it is also not a good thing, because not everyone has emotions the same one has too high emotions so that even though you have a lot of free time it might not be suitable for them.

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