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Why scalping doesn't work........

  • #21
  • Nov 1, 2007 7:27pm Nov 1, 2007 7:27pm
Quoting linuxtroll
Leon, It must be written by an idiot, who never traded ForEx or scalped ForEx... Scalpers make money... Good example Market Makers... and of course Rainbow traders... LoL
Lol, maby so. Yes, Im subscribed to your thread, never really found it to work for me, But Im using something similar with less MA's on a Larger timeframe ATM.

Something i learnt from you on ur thread...... SCREENTIME!!

Goodday

leon
Living the adventure in my head.
  • #22
  • Nov 1, 2007 7:30pm Nov 1, 2007 7:30pm
Quoting Leonlorenzo

Now something I persanally find is that If you take the time axis and price axis off a chart and ask someone to tell you what thetimeframe is...... they cant do it.
So what does this meen? well, in my oppinion it meens that a good strat should work on any timeframe (maby changing some settings) but the overall system should work because the same 'rules' apply. The main benefit to higher timeframes in my oppinion is more thinking time!
Agree. With time and price removed I doubt many people, if any, could tell the difference between a long or short term chart. I've read about it being tested.
  • #23
  • Nov 1, 2007 7:34pm Nov 1, 2007 7:34pm
Quoting linuxtroll
Leon, It must be written by an idiot, who never traded ForEx or scalped ForEx... Scalpers make money... Good example Market Makers... and of course Rainbow traders... LoL
It was. Google Monica Hendrix and read some of her articles.
  • #24
  • Nov 1, 2007 7:39pm Nov 1, 2007 7:39pm
what's a Rainbow trader ???
  • #25
  • Nov 1, 2007 7:48pm Nov 1, 2007 7:48pm
Quoting Schminner
what's a Rainbow trader ???
They are small people, Smoke pipes and wear mostly green clothes, Searching for that pot of gold, HEHE.

Type it in to the search field at the top of the site 'rainbow' and you should find the thread!

leon
Living the adventure in my head.
  • #26
  • Nov 1, 2007 7:56pm Nov 1, 2007 7:56pm
Quoting hilmy83
just because someone cannot scalp even when their life depends on it, doens't mean it's not a workable system. Even when majority of the world traders cannot scalp, it still doesn't mean scalping doesn't work.

it just means it doesn't work for YOU.


This is why i love trading. If you have patience and persistance, you can find anything that will work in trading provided that you exercise sound money management. I know scalpers just smile reading this thread
Exactly. My sig. line says it all: "There are thousands of ways to make money in Forex, but there are millions of ways to lose money in Forex." It doesn't matter if you use any time period chart between 1 tick and 1 week... just trade whatever you feel comfortable with in making money.

Quoting Leonlorenzo
As a trader for 25 years I simply laugh when I see headlines such as "make 700 pips a week" etc but many naive and greedy traders get taken in by forex scalping marketing copy and its no laughing matter when they lose their money!
...and as a scalper, that makes me laugh as well. My weekly goal is nowhere near 700 pips... it's more like 50 pips. The reason why most people fail at scalping is they think it's all about getting the most pips in a single day. It's not about the pips, it's about continuously compounding consistent gains of a few percentage points per week.
  • #27
  • Nov 1, 2007 8:06pm Nov 1, 2007 8:06pm
Quoting Leonlorenzo
They are small people, Smoke pipes and wear mostly green clothes, Searching for that pot of gold, HEHE.

Type it in to the search field at the top of the site 'rainbow' and you should find the thread!

leon
Then I must be a Rainbow trader .... that pot of gold is so damn elusive ...
  • #28
  • Nov 1, 2007 8:18pm Nov 1, 2007 8:18pm
Hi Leon,

I am posting my comments to this article; this will help many...

Quote
Forex scalping is one of the most popular methods of making money on the net and involves day trading and taking small regular profits that will eventually lead to huge gains over time. Let's look at forex scalping in more detail.

Wrong... Day trading is different than scalping... Huge gains immediately...

Quote
There is a huge industry in forex scalping systems and vendors promote them heavily on the net with track records that are quite simply mind boggling. The problem however is - they don't work and you will lose.
These guys are NOT traders in most instances, their simply marketing organisations.

Wrong again... Brokers or Market makers never promote scalping, because they can not trade against scalpers... Problem is - this author does not know anything about scalping or ForEx... Scalping was never promoted heavily on the net... Most of the scalpers never work for organizations...

Quote
As a trader for 25 years I simply laugh when I see headlines such as "make 700 pips a week" etc but many naive and greedy traders get taken in by forex scalping marketing copy and its no laughing matter when they lose their money!
Never learned anything in 25 years... It is a laughing matter when they follow this idiot's advise...


Quote
So why doesn't forex scalping or day trading work?
Does not work where... Get some real facts... LoL

Quote
Well if you think about it it's obvious:
You have millions of traders, trading trillions of dollars and to say that you can predict what this huge mass of people will do in just a few hours - is quite frankly ridiculous.
Now understand that the huge mass of scalpers behavior... of course you can not predict it... They will snap your money within a sec from you... Ho Ho Ho...

Quote
Volatility can and does take prices anywhere in a day and support and resistance levels are meaningless - so you cant get the odds on your side and you cant win.
Think who create the volatility and liquidity? If all the traders are long term traders... WMA will move in straight line and you will be having fun following the trend... This person is not a real trader and living in a dream world and writing about ForEx scalping... Crazy...

Quote
Anyone who thinks they can win has not tried forex scalping!
Doing it successfully for many years here...

Quote
So you can't win longer term?
It will not take 25 years... Where were this person traded... Never met a scalpers in the pit? Never met a tape reader in 25 years... BS...

Quote
No you can't -
Stupidity... You can...

Quote
Many vendors claim that you can predict with scientific accuracy what will happen in forex -Really?
This person does not know anything about scalping or even ForEx trading... Scalping is not prediction...

Quote
If they could, they wouldn't be selling forex scalping systems - they would be to busy making money.
They are trying to show people that this person is an idiot... They do not stick to the computer and monitoring the trades for hours, days or weeks... so they have enough time to help other scalpers...

Quote
Another point of course is if you could predict what markets do in advance then there would be no market as we would all know the answer in advance, markets move on uncertainty and opinions and thats an investment fact.
Another proof that this person does not know anything about scalping... Scalpers does not need to predict...

Quote
The vendors however do produce track records but their meaningless and not worth the paper their written on.
Anyone who trade knows that... problem is people who write meaningless articles like this... They must educate themselves before write about scalping...

Quote
Why?
Check the disclaimer and you will see the words "simulated" and in "hindsight" - so there done KNOWING the closing prices - how hard is that?
This person is talking about himself - same old snake oil salesmen... LoL

Quote
You, me or anyone else could do that. There is a problem though!
Yes... anyone can wake up from a dream and write an article like this... and anyone can become a snake oil salesman...

Quote
In the real world, you have to trade without knowing the closing prices and that makes things a little bit harder.
Simple... Not harder for a scalper... That's why they scalp... Get the fact right...

Quote
The rewards of forex trading are huge and its not easy to make money - but if you try a methodology based upon forex scalping, you are simply going to get a lesson in how hard it is.
Lesson will be even harder when you trade 4 hour chart or 1 day chart or long term... As you can not predict the direction; draw down will kill you... stop hunting will kill you... to absorb the big draw down - you can not trade bigger lots - and you need bigger capital to absorb the draw down; smaller lot with long term results will make you a millionaire when you reach 100 years - where you can not use the money you made... Scalpers will be making the same amount in a few days... why wait... no sleep... monitor and pray for days, weeks or months... and never be rich... Learn proper scalping - Make Money and Enjoy the good things in life... LoL

Quote
THE GOOD NEWS!
Of course, with the rewards on offer you wouldn't expect it to be easy either and that really is good news.
:surprised

Quote
Leave the forex scalping systems to the dreamers and lazy traders and do your homework and get the right forex education and that means trading longer term and getting the odds on your side.
Scalpers are not lazy... They keep things Simple and Smart...

Quote
You can trend follow longer term or do short term swing trading and both can make you money you just need to get a simple system to trade the odds and in these time frames you can get the odds on your side.

You will make peanuts after many years of wasting your life... What a stupid advise... Sounds like this advise is coming from an Introducing Broker... Leeach the new innocent trades...


Quote
Forex trading can give you gains that can be life changing and everything about forex trading can be learned by anyone, with the desire to succeed and the right education.
How to make snake oil? It is like golf swing... Learn to swing... Go to driving range... Hit some balls... Find the swing that works for you... Education will screw up your swing... Again, without short game - you can not get the ball into the hole... Birdie... LoL

Quote
So if you want to win at forex trading, forget forex scalping and trade longer term, get the odds on your side and you could soon enjoy currency trading success.

So if you want to win the game - learn the short game... Do not use the driver first... Start with the pitching wedge... Soon you will hit that driver to 300 yards; straight without any slice or hook - and you will pitch and chip too... Putting will help...

Cheers,
--
Trollmann


____________________________________________________________________________________________________________--
  • #29
  • Nov 1, 2007 8:19pm Nov 1, 2007 8:19pm
Quoting Schminner
Then I must be a Rainbow trader .... that pot of gold is so damn elusive ...
You will see the pot of gold sooner than other methods... LoL
  • #30
  • Nov 1, 2007 8:23pm Nov 1, 2007 8:23pm
Quoting linuxtroll
Leon, It must be written by an idiot, who never traded ForEx or scalped ForEx... Scalpers make money... Good example Market Makers... and of course Rainbow traders... LoL
I agree with Linuxtroll, I do well scalping the market. Keep up the good work Leon. Your posts are good!
  • #31
  • Nov 1, 2007 9:11pm Nov 1, 2007 9:11pm
So scalping if is for lazy dreamers Ms. Hendrix (if that is your real name) does that make trading daily timeframes for fast vegetables?
  • #32
  • Nov 1, 2007 9:20pm Nov 1, 2007 9:20pm
Quoting Schminner
According to Peter Bain, you should only Scalp if you want a short hair cut ...
You do not even need to scalp his hair... It will fall automatically... LoL
  • #33
  • Nov 1, 2007 11:11pm Nov 1, 2007 11:11pm
Quoting linuxtroll
You do not even need to scalp his hair... It will fall automatically... LoL
  • #34
  • Edited Nov 2, 2007 3:07am Nov 1, 2007 11:23pm | Edited Nov 2, 2007 3:07am
scalp?

i passed

i didn't have some kind of ability to read market in very very short term it always hurt me.

so think carefully what 's your sl when you scalp for 10pip?

As firm i'm really love this peoples cuz broker gain money in every open position

Fixed..
  • #35
  • Edited 11:30pm Nov 1, 2007 11:29pm | Edited 11:30pm
Quoting styxgroup
scalp?

i passed

i did have some kind of ability to read market in very very short term it always hurt me.

so think carefully what 's your sl when you scalp for 10pip?

As firm i'm really love this peoples cuz broker gain money in every open position
'You had the ability' you say, 'but it always hurt you'? That doesnt make sence to me.

Your SL is on the other side of the sup/res. Thats considering that you were smart enough to open on a strong level.

I hope your firm makes lots of money and you get good comision this month! Maby youll be able to treat yourself!

Leon
Living the adventure in my head.
  • #36
  • Nov 2, 2007 12:17am Nov 2, 2007 12:17am
Quoting linuxtroll
You do not even need to scalp his hair... It will fall automatically... LoL
Hi LT..why not post your thread? Maybe some posters can give it a read and make their own conclusion?

http://www.forexfactory.com/showthread.php?t=52515
  • #37
  • Nov 2, 2007 3:12am Nov 2, 2007 3:12am
Quoting Leonlorenzo
'You had the ability' you say, 'but it always hurt you'? That doesnt make sence to me.

Your SL is on the other side of the sup/res. Thats considering that you were smart enough to open on a strong level.

I hope your firm makes lots of money and you get good comision this month! Maby youll be able to treat yourself!

Leon
thank for help chk my spell for comision my broker will get from me around 10 positions per pair but also per year it about that G luk
  • #38
  • Nov 2, 2007 5:13am Nov 2, 2007 5:13am
Quoting thatsmelah
Hi LT..why not post your thread? Maybe some posters can give it a read and make their own conclusion?

http://www.forexfactory.com/showthread.php?t=52515
It is not good to hijack Leon's thread with a link to another thread... LoL
  • #39
  • Nov 2, 2007 5:34am Nov 2, 2007 5:34am
Quoting linuxtroll
It is not good to hijack Leon's thread with a link to another thread... LoL
Dont be stupid! post whatever you like, Incase you dont remember we once had run-ins for me being to off-topic or something of that nature on your thread! So you are more than welcome! Call it a 'sorry'.

Leon
Living the adventure in my head.
  • #40
  • Nov 2, 2007 5:43am Nov 2, 2007 5:43am
the odds are almost 2 to 1 against you scalping for 10 pips
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