Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Scalp, scalp, scalp 5,623 replies

To scalp or not to scalp? (Images included) 18 replies

New Trading - Not Greedy, Scalp, One Trade per day only 13 replies

My Trading Journal (Scalp, Trend, Day/Intra Trade, Tech/Fund) 2 replies

time to Range SCALP all day people 1 reply

Attachments: Scalp/Day Trading Tips for Success
Exit Attachments

Scalp/Day Trading Tips for Success

  • Post #1
  • Quote
  • First Post: Jul 12, 2021 8:25pm Jul 12, 2021 8:25pm
I am a higher time frame trader. I've always been that way. Look to the Daily chart or Weekly chart for direction, and when you get a signal, drop down to the 4HR chart to enter a trade. That's how I was taught to trade. It worked for a time. But it is becoming increasingly difficult to trade like this in today's messy market.

I have come to the conclusion that scalpers and day traders are likely making more money trading than swing traders. I want a piece of that action. But because I am not that kind of trader, I am in need of advice that will help me to become a successful scalp/day trader.

I am inviting people who have experience scalping and day trading to share words of wisdom to help people to transition from trading higher time frames (4HR chart and above) to successfully trade lower times frames (15 minute chart to 1HR chart).

This thread is not for people to debate. Please, no arguing. Just share your tips for scalping and day trading. Thanks!
You don't know because you don't ask.
I would say trade the London session mostly. but depending on your setup you can possibly trade from Tokyo to London and quit before rollover. Im trying that out on M15 now
in earlier times, price can run more than 100 pips in trend frequently almost everyday.
then came the mm and algro stuff to stop hunt.

i would say use break, pullback, continue method to trade.
depending on individuals, can also do mtf.

3 pillars of trading:
1. capital preservation
2. position sizing
3. risk n money management (risk mgt in case of loss n money mgt in case of in profit)
Seeking out Orderliness amongst 'Market Randomness'
Quoting here2there
I am a higher time frame trader. I've always been that way. Look to the Daily chart or Weekly chart for direction, and when you get a signal, drop down to the 4HR chart to enter a trade. That's how I was taught to trade. It worked for a time. But it is becoming increasingly difficult to trade like this in today's messy market. I have come to the conclusion that scalpers and day traders are likely making more money trading than swing traders. I want a piece of that action. But because I am not that kind of trader, I am in need of advice that will...
Hi here2there!
I know few traders who failed to change their preferred approaches and became successful again only switching back. But it is hard, because you can forget how exactly you were trading. For example one guy was trading pullbacks on 1H-4H tfs from 50-100-200 EMA. Only that setups. He tried to add RSI, change timeframe and so on. So if you are good trading higher timeframes just trade it.
Observer effect
Quoting here2there
I am a higher time frame trader. I've always been that way. Look to the Daily chart or Weekly chart for direction, and when you get a signal, drop down to the 4HR chart to enter a trade. That's how I was taught to trade. It worked for a time. But it is becoming increasingly difficult to trade like this in today's messy market. I have come to the conclusion that scalpers and day traders are likely making more money trading than swing traders. I want a piece of that action. But because I am not that...
here2there,

make sure the data you get is valid, many members out there are just scammers, just a reminder
Daddy, Brother, Lover, Little Boy
Quoting Mr.Burger
{quote} here2there, make sure the data you get is valid, many members out there are just scammers, just a reminder
Agree. This is my stats for 10 days (it is daily profit in %)

I'm trading at 1m TF, there are in average >50 trades daily. One trade in average gains +0.005%. Commission paid is about 50%.
Do you still think trading lower TFs is better than higher? Remember there are no 5-6% daily like many gurus claims.
Attached Image
Observer effect
My personal experience is progressively going from 5m -> 4h charts.

Batting average went up due to much less randomness.
My tip would be :

HAVE A PLAN.

It's easier to trade your emotions instead of the market in shorter time frames. So build a strategy, make sure you've got an edge backtesting it and day trade it focusing only on process (not on your P&L).

Focus on process, profits will come.
I faced exactly the same problem as yours. I realized that long-term trading and my trading system did not bring me the desired result. I started developing a new system for medium-term trading. It was not a difficult process, because when there is an understanding of the basic market processes and a vision of what you want to get as a result, the process of metamorphosis will not be painful. Gradually, you will get used to more intense trading. I started using additional indicators MACD and EMA, which later became the main source of signals.
I advise you to practice right now, when there is ground for strong impulses, this will give you the necessary experience of survival.
Look for trends within trends, track patterns and follow a clear trading plan.
As for scalping, this trade is inconvenient for me and I will hardly ever scalp.
Quoting WWTrades
My tip would be : HAVE A PLAN. It's easier to trade your emotions instead of the market in shorter time frames. So build a strategy, make sure you've got an edge backtesting it and day trade it focusing only on process (not on your P&L). Focus on process, profits will come.
RED = SELL

GREEN = BUY

keep it simple they said



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-13_21-15-33.jpg Size: 345 KB
Don't trade your heart, trade your chart!
4 Daily Signals All Time Return: na
Scalping and day trading can be made with simple method like support resistance bounce. The name of the game is much more about self control and discipline. That's why everybody fail and get their account destroy quickly. Make some research about willpower, you will find plenty of greats tips to help you stay focus with daytrading.
You got to strike when the moment is right without thinking
Quoting Erebus
{quote} RED = SELL GREEN = BUY keep it simple they said {image}
Finally someone explains it simple...perhaps a bit too simple!
Thanks man! Darrell
I was asked about the Tradingview indicators, as per the chart



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-14_7-25-00.jpg Size: 350 KB
Don't trade your heart, trade your chart!
4 Daily Signals All Time Return: na
Quoting DrDarrell
{quote} Finally someone explains it simple...perhaps a bit too simple! Thanks man! Darrell
But wait, there is more, here are 24 hours in the life of EURUSD

Booyah, 2 charts at the same time, Tradingview is so EASY

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-14_7-36-04.jpg Size: 279 KB
Don't trade your heart, trade your chart!
4 Daily Signals All Time Return: na
Quoting Erebus
{quote} But wait, there is more, here are 24 hours in the life of EURUSD Booyah, 2 charts at the same time, Tradingview is so EASY {image}
can you open the indicator tree on the chart?
The biggest drawdown is ahead of you
Quoting amando77
{quote} can you open the indicator tree on the chart?
Sure, for you, anything...



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-14_18-27-52.jpg Size: 262 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-14_18-30-02.jpg Size: 315 KB
Don't trade your heart, trade your chart!
4 Daily Signals All Time Return: na
  • Post #17
  • Quote
  • Last Post: Jul 14, 2021 11:48am Jul 14, 2021 11:48am
Quoting beechboy
My advice for trading lower time frames is to not use market orders. Limit and stop orders only. This prevents overtrading.
I'd say over trading mostly comes from a trade methodology that takes every entry signal and has and no way of filtering them moreso than the type of orders you use.

My advice is to trade trends vs counter trends. Market usually moves further when you're not swimming against the current. But hey, some people like being the cool contrarian kids...
0 traders viewing now