Disliked{quote} if i may ask dingo whats your tp and sl for a 5 lot trade..... how can you restrict to 300$... i mean 5-7pips sl??? i am using 15 mins charts so i am keeping 15-20 pips pf sl...Ignored
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Disliked{quote} if i may ask dingo whats your tp and sl for a 5 lot trade..... how can you restrict to 300$... i mean 5-7pips sl??? i am using 15 mins charts so i am keeping 15-20 pips pf sl...Ignored
Disliked{quote} Thanks. When you have time if you can post a fresh picture of a trade or two if not it's ok.Ignored
DislikedGreat work here BrianDingo! You are one of a kind scalper I respect! Cheers!!!Ignored
DislikedFOR THOSE WHO CHOOSE TO USE THE STOCHASTIC, https://tradingstrategyguides.com/be...ding-strategy/Ignored
DislikedDid a bit of homework and analysed the EURUSD 5m from 22 and 23/4 for trade setups in scalping. Was taking as always the 200 EMA / 20 WMA / STO 15,2,2 and this time using more candlestick patterns + S/R levels as you said Dingo. Chart was replayed candle per candle. Maybe you see more options which I didnt see, would be nice to see one of your charts again so I can compare and learn more. {image} {image}Ignored
Cons
The Pros of Scalping
As a result of the low barriers to entry into the world of forex trading, scalping has become a viable strategy for the retail forex trader. Scalping is popular with newcomers since the strategy requires less knowledge of the market and established trading theories.
Since the forex market is large and liquid, traders can get in and out of trading positions easily.
Scalping is a good choice for those who hate waiting for a trade to close. Positions are generally held for a very brief timeframe, and that allows for a lower chance of reversals that can harm a trading position.
The Cons of Scalping
It's important to note that the forex scalper usually requires a larger deposit that can handle the amount of leverage the investor must take on to make the short and small trades worthwhile. Leverage is a form of margin in which the position is magnified since the trader borrows from the broker to expand the position size. However, just as leverage can magnify gains, it also can magnify losses.
The profits are smaller on each trade, which makes it challenging to reach a trader's financial goals. A “5-pip” yield on trade might be insufficient for many traders.
As a result of the small amount of profit per trade, one trading loss can obliterate any gains from several successful trades. Good trades can yield a 1:1 risk to reward or less.
The volatility or wild swings in the currency market can add to scalping gains and profits, but also exacerbate losses. Forex scalping can be risky and wipe out a trader's brokerage account. For example, a trader might not have an exit strategy or a stop-loss trade in which the trade is automatically unwound. If the trade moves adversely, the forex trader can incur frequent and significant losses. As a result, newcomers to forex trading should understand the ins and outs of forex scalping before initiating their first trade.
Best online trading platforms
https://www.investopedia.com/best-on...rokers-4587872
An excellent starting point for the newbies
https://www.babypips.com
Disliked5-8-13 Moving Averages The combination of 5-, 8- and 13-bar simple moving averages (SMAs) offers a perfect fit for day trading strategies. These are Fibonacci-tuned settings that have withstood the test of time, but interpretive skills are required to use the settings appropriately. It's a visual process, examining relative relationships between moving averages and price, as well as MA slopes that reflect subtle shifts in...Ignored