Scalping Strategy

[Tzachi]

Copied what I posted on another thread:

Why I like this trading way:

If you take only a few pips a shot few trades a day you reduce your risk of large losses.

See how the floor traders work - in out for a short time many times a day. Some NASDAQ daytraders can make up to 300 trades A DAY !!!!! they know what they are doing.

If you looking to make a living in trading you cannot work as a position trader wait for the wind to be at you back. ( maybe if your position is in the millions to start with) You must go with any movment you detect to gain as many times you can - be a trader- TRADE- buy sell as many times you can.

Is'nt 3-5 pips a trade 3-5 times a day on a margin of 100:1 or even 50:1 with even only 1 regular lot can provide you with a VERY nice income? if it is 5 lots?

I know it can.

Its ok to be greedy but know when to take the money run. than be greedy again take the money run again again.....

That the beauty of taking money the market- you have REAL profit not on paper that the market can take it back the next bar.



Tzachi.

[milo]

Originally Posted by Tzachi

Any1 using scalping as the main way of trading?

I do I am using cci macd & adx on a 1 min chart. Looking to get 3-5 pips a trade go in ONLY with the trend. 3-5 trades per session.

Any others?
What strategy?

couple questions- How do you determine the trend (daily hourly)?
What is your stop loss?

[taotra]

Originally Posted by Fas

Im assuming you have found an Fx retail brokers which allows you to pluck 3-5 pips a trade. Most will not allow this.

Any broker whose profits come the spread will allow you to scalp. In fact they like for you to make frequent trades. The more you trade the more they make regardless of whether you win or lose.

[Ravique]

You know the main thing about every strategy is it`s effectivity. If your strategy is effective than there is no need to argue or talk about that. There are a lot of people how will not admire your trading style try to dissapoint you. If you have found yourself a winner you are one lucky man. My congratulations thank you for sharing.

[Tzachi]

Thank you.

I posted it to share my way of trading thinking that it may help others to share notes with others that may trade in a similar way.

Never stop learning.

I do look at the 5 min chart just see what's going on as per s/r leveles.

In less than 24 hours there were over 580 people viewing the thread meaning this way of trading is of a great interest to many people an indicator that it should be explore.

G/L 2 all

Tzachi.

[rollingstone]

My best trades are when I use the 40 - 60 - 80 ema's to show market direction then trade the "second wave" as I mentioned on page 2.

[Atomised]

Hi

I'm just curious about this say a 10 pip stop on all trades if your only hunting for 10 pips profit that's a 1:1 ratio is that not a bit risky ? Also curious how long u guys have been trading this way profitably ?

[rollingstone]

Hi Atomised

I've only just started a couple of weeks ago but the trades are there if your patient only go for the very best set-ups there are quite a few 10 / 20 pip trades but others can also run to 60 / 70 pips when the market is trending like the GBP the last few days.

Also losses rarely get to 10 pips if a trade isn't going to work it becomes obvious very quickly losses can be kept to a few pips.