What is scalping?

[DW]

I've read several accounts forums including this one were traders have had their accounts frozen put on "Manual" (for fills) even closed their money returned kicked out of the brokerage for the crime of scalping. My question is "what is wrong with doing it if you can make a profit?" After trading various markets for six years I have traded live with two different forex brokers so far gone through countless free demo's with other brokerages. I can currently make a 20%-50% return per day staying in front of the screen for just a few hours trading a demo account with what I will call company X using technicals combined with scalping techniques. My problem now is finding a brokerage that will allow me to actually put this into practice with real money. Any suggestions anyone? This is my first time in this forum. I would love to hear some experienced forex traders get their opinions. Perhaps I will start my own thread? Hope to hear someone soon. DW

[Traded12]

I don't know about the rest of you but my strategy is simple. Make $500-$1000/day doing "day trading". That relates to $150K-$300K (top 11% in US) per year based on 300 trading days taking into consideration my bad trades. If that $500-$1000 takes 2 minutes or 2 hours... so be it. You can't go broke taking a profit. Swing trading to me anyway leaves too much money on the table. Just make a couple of quality trades rather than a dozen marginal trades. Pick the entry points exit (stop loss take profit) before the trade is placed. I like O-a-n-d-a it pays but also charges interest per minute along with the small pip spread. Their charts need improvement though. However I am looking at IFX Markets Inc (cbfx).com. Anyone have any experience with them?fficeffice" />>>

[angelcg7]

Originally Posted by DW

I've read several accounts forums including this one were traders have had their accounts frozen put on "Manual" (for fills) even closed their money returned kicked out of the brokerage for the crime of scalping. My question is "what is wrong with doing it if you can make a profit?" After trading various markets for six years I have traded live with two different forex brokers so far gone through countless free demo's with other brokerages. I can currently make a 20%-50% return per day staying in front of the screen for just a few hours trading a demo account with what I will call company X using technicals combined with scalping techniques. My problem now is finding a brokerage that will allow me to actually put this into practice with real money. Any suggestions anyone? This is my first time in this forum. I would love to hear some experienced forex traders get their opinions. Perhaps I will start my own thread? Hope to hear someone soon. DW

Hi DW

I consider myself a newbie since I'm still using a demo account (for 2 months) not trading live. I'd like to learn scalping techniques. Where should a newbie such as myself go to learn scalping techniques?

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