Back when I started forex, which wasn't a long time ago, I use to scalp. I did that for a while before realizing that it was useless for me. Didn't lose that much money, as I only used a little per trade but still lost a little.
Now im not going to bash scalping all together, but i'd like to see the amount of people that actually make money from it. I know the whole deal, proper money management, ive preached it time and time again, so no one has to write a novel about the basics of it.
When I refer to scalping im talking about 15 min charts, 5 min charts, 1 min, and even ticks. I see a bunch of popular threads for scalping on FF. Im sure we've all tried them on demo, or live.
I trade on 4hr-weekly charts, which I find is much more profitable and saves hours.
-Taking into account the amount of time used for scalping vs. the amount of time used for making a couple of trades a week.
-Knowing that longer term S/R levels are more reliable.
-Knowing that spread is a huge factor in scalping.
Having a life outside trading.
And a few other facts.
Scalping Verdict: Not worth it compared to higher time frames.
Arguements, strong worded threats about how I am wrong, agreements, and comments welcome
Oh and im going to throw in a poll to see which time frame you prefer.
Now im not going to bash scalping all together, but i'd like to see the amount of people that actually make money from it. I know the whole deal, proper money management, ive preached it time and time again, so no one has to write a novel about the basics of it.
When I refer to scalping im talking about 15 min charts, 5 min charts, 1 min, and even ticks. I see a bunch of popular threads for scalping on FF. Im sure we've all tried them on demo, or live.
I trade on 4hr-weekly charts, which I find is much more profitable and saves hours.
-Taking into account the amount of time used for scalping vs. the amount of time used for making a couple of trades a week.
-Knowing that longer term S/R levels are more reliable.
-Knowing that spread is a huge factor in scalping.
Having a life outside trading.
And a few other facts.
Scalping Verdict: Not worth it compared to higher time frames.
Arguements, strong worded threats about how I am wrong, agreements, and comments welcome
Oh and im going to throw in a poll to see which time frame you prefer.