Simple Scalping Strategy

MoneyTec Forums Trading Strategies Simple Scalping Strategy

This topic contains 40 replies, has 2 voices, and was last updated by  FXGuru 1 year, 9 months ago.

Viewing 15 posts - 16 through 30 (of 41 total)
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  • #903

    Caprica
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    It sounds like you are new at this. Let me give you some advice:

    1 – Close down your trading account and do NOT under any conditions should you give any one any money for anything until you get a better education (no matter how convincing they sound or what promises they make)

    2 – Read 5 books on trading. Make sure one of them is a dummies or a complete idiots guide to trading. Also make sure you pick up Kathy Lien’s book on day trading the global currency market and read it three times. Choose three other books that look interesting (just look at the popular trading books on amazon).

    3 – Open up a demo account with any of the forex brokers and trade it. When you loose all your fake money in a demo account. Keep on repeating this until you are profitable.

    4 – At the same time as 3, read as many different forums as you can on forex. Do not believe anything anyone says until you have tested it yourself on a demo account.

    5- Once you become consistently profitable in a demo account, open a mini account and trade it.

    6 – When you have made some money in your mini account, take your trade history on your mini account to a highly recommended mentor and talk to them. I will not tell you who they are, but once you hang out on the different forums for a while it the credible ones should be more obvious.

    Sounds like a lot of work doesn’t it? Yes – it is. 90+% of people will fail. Whats worse there are no shortcuts. If you try to jump a step you will probably get fleeced by one of the many predators out there.

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    #904

    Havoc
    • 0

    How come there are no short trades in this backtest?

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    #905

    craig66
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    One does not need backtesting to see this is never going to work in the long run, a quick glance at the charts will reveal this. ‘Systems’ like this come up with boring monotony on these forums and none of them work, if it was as easy as slapping on a 55MA and trading when the price crossed the line we would all be rich by now!

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    #906

    Online
    • 0

    i just tried it and its worked fine for me.. got 11 pip TP

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    #907

    kevin543
    • 0

    Hey that’s really a great post, as there is lot of discussion out here. What I think scalping is a high intensity technical trading method which requires a highly skilled and efficient broker with high-tech tools. Anything less will diminish your profits, and increase your problems.

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    #908

    Aussi3
    • 0

    You didn’t said which currency pairs are best for this system. Is this works for every pairs or some specific such as EURUSD, GBPUSD etc?

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    #909

    murali603
    • 0

    Most of people use sclaping on EUR/USD as we know the movement in this pair per day is almost 200 pips and that too majority of brokers offer some less spread on this pair as 2 pips, so Its the best to sclap.

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    #910

    mjomha
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    Looks like an interesting strategy planning to test it out on a demo account this week looking for a good scalping strategy maybe for trading contests maybe avoid blowing my account in the first day

    Anyone had good results on real trading account?

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    #911

    cjforex
    • 0

    This might look a lot better on a constant range bar too!

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    #912

    ruseneca
    • 0

    Exotic pairs make triple pips movement and they are the best for scalping. Before, when only a few brokers accepted scalping, I practised this strategy in the exotic pairs because of the lower volatility.

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    #913

    murali603
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    Normally the minimum movement in these pairs is around 100 pips in some volatile days we see 300 pips range easily and on average we see 200 pips movement which is very suitable for scalping

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    #914

    Fgold
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    You forget that exotic pairs and many other minors have very high spreads! Some have a spread of over 100 pips so the scalping in such pairs wil be the worst option as most of your profit will be deducted in spreads.

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    #915

    murali603
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    Most people scalp on EUR/USD because the spread in this pair in most of brokers is only 2 pips, Most people scalp on the first 2 major pairs in the price list because for those pairs only spread will be some what less as compared to others.

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    #916

    nahiyar
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    You are right.The EU pair is much volatility than any other pair, and also, it has low spreads than any other pair in almost all brokers.That is why, the scalpers like scalping in this pair.The movement of 5-10 pips in this pair is a small thing..

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    #917

    andry777
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    If me, I prefer to do scalping with chasing few pips but many times. So didn’t use high lot size but I used normal lot but I will take profits many times. Usually, I used candlestick with M1 and M5 Time Frame to know movement of price. And also I used MACD to know trendline which combined with Stochastic to
    know tendency to move up or down.

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