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Best place to learn and become a consistent trader? 111 replies

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Best place..book...resource... to learn the art of the SCALP!

Quoting dbeach777
While this may be true, you should consider this. The tick bars, the 1 minute bars, are influenced by the higher time frames for the most part. A successful scalper, in my opinion, must be able to read higher time frame Price Action, and keep current and aware of that bias, because most of the time, through all the noise, all of a sudden price usually gravitates in the direction created by the higher time frames, and those are the times, in my opinion, that most scalpers lose their pants because they fail to recognize a free fall for what it is....
Na I expect nothing but greatness How can the time frames that make up the larger time frames be "influenced" by the time frames that make them up? the "influence" must start from the tick chart yes? But yes your points are noted!
Well, You can certainly hope for greatness. Why else would any of us be doing this? But note that hope can be blind, and success comes at a cost, is all I'm saying.


Quoting Deusomega
Na I expect nothing but greatness !
It's called, "looking at the bigger picture" It helps me. The tick chart is wrong more often then the daily


Quoting Deusomega
How can the time frames that make up the larger time frames be "influenced" by the time frames that make them up? the "influence" must start from the tick chart yes? But yes your points are noted!
I appreciate the input! I've been looking over some stuff and I noticed scalpers like to look over the 10second or minute chart to identify the move and use the tick chart to manage the exit, so your points are on target!
Quote
No pips for you.
I can wait, you take your time....
Quoting Quidsey
I can wait, you take your time....
Ooohh everyone around here is so supportive!
... sorry but I take no pleasure from watching people fail and lose money. You seem convinced that this is your path, I can only say that it is a very difficult path that you have chosen, where have you heard that scalping is easy? and if you think it's not easy why are you running before you can walk?

Scalping is high pressure trading, are you looking to increase stress in your life?

You are about to make the same misguided mistake as many before you, I can't give you any support for that.

Will you listen..... probably not.... and neither did they.
Quoting dbeach777
While this may be true, you should consider this. The tick bars, the 1 minute bars, are influenced by the higher time frames for the most part. A successful scalper, in my opinion, must be able to read higher time frame Price Action, and keep current and aware of that bias, because most of the time, through all the noise, all of a sudden price usually gravitates in the direction created by the higher time frames, and those are the times, in my opinion, that most scalpers lose their pants because they fail to recognize a free fall for what it is....
After reading the above I pictured this description of Alex Rodriguez being hit hot liners at 3rd base one after the other.
Quoting HouseTrader
Are you conting on the weekend?

Take a look at magnumfreak and Turveyd's posts/threads... if I'm not wrong, they have solid experience with scalping...

But I must say.... starting at forex, scalping? are you serious?
FxJarhead is an accomplished scalper. He doesn't show up here any more, but he's still scalping I believe. Probably some good stuff in his posts from a few years ago.
Quoting Quidsey
... sorry but I take no pleasure from watching people fail and lose money. You seem convinced that this is your path, I can only say that it is a very difficult path that you have chosen, where have you heard that scalping is easy? and if you think it's not easy why are you running before you can walk?

Scalping is high pressure trading, are you looking to increase stress in your life?

You are about to make the same misguided mistake as many before you, I can't give you any support for that.

Will you listen..... probably not.... and neither did...
I don't think it is easy. I dont think I have ever said that. I only believe that I can do whatever someone else can do, if I work at it. I appreciate the people who posted "real" help rather than posting judgments. I believe scalping is like any other trading. It all deals with whether or not you can find an edge and know that edge has as statistical probability that is profitable and whether or not you have good MM. Experience... or whether something is "easy" or not has nothing to do with it. Profitable and unprofitable are the only things that matter. Where I can say that I am diff and the reason I won't fail is that I will work and practice on a demo account until I feel comfortable and when I go live I will always have a stop to tell myself to pull the plug. From the threads I see from most newbies all of them suffer from the "can't pull the plug" syndrome. I don't think any trader is somehow enlightened or more gifted than others rather it all has to do with people's emotions.
Quoting billflet
FxJarhead is an accomplished scalper. He doesn't show up here any more, but he's still scalping I believe. Probably some good stuff in his posts from a few years ago.
Thanks Bill! I'll look him up. I've already seen that a few scalpers prefer the LinuxTroll Rainbow Scalping.. so I am looking that over. It's kindve funny when you use the search feature as a newbie to a website with a long history.. especially on a site like this.. because you get to see the scammers develop hahaha... like the thread by this "Skunny" guy "Indicator Free Trading". I could tell he was just building up his follow and wanted to sell something from the fourth page and saved my self the hassle of reading the rest of the crap.

Hint: when someone says I am going to regret doing this but then posts their *account history* and then later says he didn't think that people were going to message him about it. Hehe hellooooooooooo. I can't believe people actually didn't catch on at that point.
Quote
I appreciate the people who posted "real" help rather than posting judgments.
No, what you appreciate is people telling you what you want to hear, fair enough, no hard feelings I wish you well in your pursuit.
Quoting Quidsey
No, what you appreciate is people telling you what you want to hear, fair enough, no hard feelings I wish you well in your pursuit.
Let's review:

Useless posts that don't look to add anything to discussion nor help someone(if you post to a thread then only post if you are looking to answer someone's question or direct them towards knowledge)

Your posts:

Post #1

"....yeah, I mean how difficult can it be right?

.... it's like learning to fish for sharks without even knowing what a shark is...

good luck, and thanks for the pips."

Post #2

"I can wait, you take your time...."

Post #3

... sorry but I take no pleasure from watching people fail and lose money. You seem convinced that this is your path, I can only say that it is a very difficult path that you have chosen, where have you heard that scalping is easy? and if you think it's not easy why are you running before you can walk?

Scalping is high pressure trading, are you looking to increase stress in your life? Any knowledge acquisition increases stress in one's life if they are truly learning and rethinking things.

You are about to make the same misguided mistake as many before you, I can't give you any support for that.

Will you listen..... probably not.... and neither did they.

AKA posts that add nothing. AKA posts that say oh look i've found the secret but you possibly can't. AKA useless posts.

HouseTrader's post:

"Are you conting on the weekend?

Take a look at magnumfreak and Turveyd's posts/threads... if I'm not wrong, they have solid experience with scalping...

But I must say.... starting at forex, scalping? are you serious?"

Billflet post:

FxJarhead is an accomplished scalper. He doesn't show up here any more, but he's still scalping I believe. Probably some good stuff in his posts from a few years ago.

See the difference? Neither of these posters told me what I "wanted to hear". I don't even know wtf that means... OFC i want someone to try to help answer my question duh otherwise I wouldn't start a thread. I guess by your meaning they are telling me stuff to make me feel better or whatever... but obviously you are wrong there as well.

HouseTrader:

But I must say.... starting at forex, scalping? are you serious?"

No I don't think either of them are "telling me" what I want to hear other than actually contributing in a constructive manner. What's with these Czar's of forex and telling people they can't do sh!t.
If I'm so full of shit why are you so defensive with all this?, I've never pretended to be better at trading than anyone. I have 5 years full time forex trading experience behind me and manage to keep a small family afloat, hardly the czar of forex.
I was trying to keep it light until your ego stepped into the fray and decided to write a book about how people should respond to you, jeeez man chill out if you want to scalp go for it, prove those pesky no good interfering internet forum know-it-alls wrong.

Quote
Experience... or whether something is "easy" or not has nothing to do with it.
Quote
I believe scalping is like any other trading.
...what you believe and reality are now on a direct collision course, but of course I know diddly shit about this stuff.
Quoting Quidsey
If I'm so full of shit why are you so defensive with all this?,...
I am glad you are doing well for yourself. I am not defensive rather I found your posts unhelpful. If you had said don't scalp because bla bla bla bla. That would of qualified as a helpful post. I don't just take people's word for anything. I like reasons... that's just how I am. So I'm not going to respond well to you just telling me I can't do something and that you will enjoy my pips. Does that not come off a bit douchey?
I didn't read the whole thread only skimmed it but I can tell you scalping DOES work but it's not for everyone. Those that say it doesn't work over the long haul or blah blah either a) tried it and didn't cut it...wasn't for them...whatever or b) never tried it and are going on hearsay. If you can scalp a tick chart you can trade a daily chart, only difference is I would rather put $100 a pip on the line and ride it for 10 pips and be out in a matter of seconds to minutes then put a trade on the daily or 4hr etc at $1 a pip and have to wait all day for it to hit my target...which is a whole nother subject (TP's make absolutely no sense to me...but that is just me ). Anyway, Deusomega don't let anyone tell you scalping doesn't work because I can tell you first hand it does. The best advice I would give anyone in forex is 1)Stick to ONE thing and 2)Be patient...very patient.
Quote
but I can tell you scalping DOES work but it's not for everyone.
Who said it doesn't work? this is not about if it works or not, it's about a method that I personally think is not best adapted to someone with no previous experience.

It is an advanced method that requires a lot of discipline, something that beginners normally have difficulty with, it also requires many hours of screen time which again can put unnecessary pressure on someone just starting out.

In any other walk of life where we have need of an apprenticeship period it is normal to start slowly and build confidence as we progress. If we overload at the start and attempt something that is at the limit of our abilities we can easily ruin any chance we may of had of being successfull.

Quote
If you can scalp a tick chart you can trade a daily chart, only difference is I would rather put $100 a pip on the line and ride it for 10 pips and be out in a matter of seconds to minutes then put a trade on the daily or 4hr etc at $1 a pip and have to wait all day for it to hit my target
Do you seriously believe that this is good advice for a beginner? especially when you are advocating learning to be patient.

The original poster is happy with his choice of method, maybe you can tell him how to become part of the elite, but if there is anybody else out there just starting to put forex trading plans together I would recommend that you build up a solid foundation of knowledge about the markets by choosing a strategy that gives you time to think, analyse, and also develop the psychological aspects of your trading. There is much to learn and master in this game and the easier we make it on ourselves the more positive we can become about our abilities.

Here is another quote from Mr Douglas:

However, as soon as you put on the larger-than-usual position, you're in danger. The larger the position, the greater the financial impact small fluctuations in price will have on your equity. Combine the larger than- normal impact of a move against your position with a resolute belief that the market will do exactly as you expect, and you have a situation in which one tic in the opposition direction of your trade can cause you to go into a state of "mind-freeze" and become immobilized.

Merry xmas.
Geez Quidley, doesn't everyone have the right to offer insight here without you trying to chop them down? How about a more passive approach? Your opinions are duly noted, now back off before you sound like a broken record... Maybe you have your limitations, but do you need to project these off on others again and again? Everyone is unique, and we all deserve to dream, and create our own experience. There are those that seem doomed to fail no matter what, while others do their due diligence and manage to accomplish the impossible. Everyone deserves to earn the right to their own experience and its not a one size fits all here.

Merry xmas to you too

Quoting Quidsey
Who said it doesn't work? this is not about if it works or not, it's about a method that I personally think is not best adapted to someone with no previous experience.

It is an advanced method that requires a lot of discipline, something that beginners normally have difficulty with, it also requires many hours of screen time which again can put unnecessary pressure on someone just starting out.

In any other walk of life where we have need of an apprenticeship period it is normal to start slowly and build confidence as we progress. If we overload...
Yes he does have products and services on offer...but he does have 300 free videos to watch on youtube...if you watch them, you'll be able to understand, its not rocket science...simply breakouts of ranges on high volume. Sell into buying...Normal rules in terms of respecting support/resistance levels apply: you don't want to buy into a huge block of sell orders or vice versa.

Also, just because one may be offering services does not mean that they 'suck'. Traders, by their very nature, are motivated by profit. If they can get an extra profit through services offered, then they can well offset their losing days. Think about that.

Trading small amounts of money is not difficult, it becomes tougher when there is more money at stake, and scalping is nigh on impossible.

If you don't like what I've posted, then simply follow a 1,2,3 strategy, following the trend. There's a good thread by 'thalestrader' on traderslaboratory (by far the best trading forum out there: there isn't the flood of EA nonsense, fewer complete newbies looking to get rich overnight, and a remarkable shortage of negative senior posters who simply state that 'scalping is impossible', 'there is no trading edge' etc etc that seem to be the fashion here)

If you watch those videos, and THINK about what they are doing, then you will understand that the key to scalping is volume and price.

Good luck!
The best place to learn is a demo account. Forex scalping is very hard because the typical broker charges a spread with a commission hidden in the spread.
ofcourse its possibel to profit from scalping.....i consider my self as a scalper..here a demo statement for a few days last week...with almost the same trades as on my live account....
Attached File
File Type: pdf statement21.pdf   81 KB | 205 downloads
StopLoss is for none belivers... Trust the Gurus..
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