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

  • #61
  • Nov 2, 2007 8:12pm Nov 2, 2007 8:12pm
Anytime someone says something cannot be done I think "they believe that because they have not succeeded". Many people attack this method of trading or that method, depending on where they have experienced success. It is important to keep your mind open about things, yet realistic so are not a sucker blown by every wind of trade strategy. To not be open to taking a scalp when news comes out that knocks the market off balance to me is loss of revenue- actually a very big loss. Scalping on a daily basis as a regular trading strategy is not my cup of tea, but I am careful not to put strategies down- especially when I know traders that regularly and successfully employ them. The trick is not the strategy as I believe many strategies have at least some merit under some market conditions- it is the trader who is the key element.
-- Catch the market with it's pants down - Trim away the fat --
  • #62
  • Nov 2, 2007 8:32pm Nov 2, 2007 8:32pm
Quoting Scalpelfx
Anytime someone says something cannot be done I think "they believe that because they have not succeeded". Many people attack this method of trading or that method, depending on where they have experienced success. It is important to keep your mind open about things, yet realistic so are not a sucker blown by every wind of trade strategy. To not be open to taking a scalp when news comes out that knocks the market off balance to me is loss of revenue- actually a very big loss. Scalping on a daily basis as a regular trading strategy is not my cup of tea, but I am careful not to put strategies down- especially when I know traders that regularly and successfully employ them. The trick is not the strategy as I believe many strategies have at least some merit under some market conditions- it is the trader who is the key element.
Now that you've said it, I don't think scalping alone is a very successful strategy. If you count pips in the 5 minutes cycles you will see that there aren't much to scalp for, and most of the time they are just not worth it. I would much preferred a longer time frame for day trading rather than scalping for small moving increments throughout the day. My 2 pips.

Trade and be happy,

scalpt
  • #63
  • Nov 2, 2007 9:40pm Nov 2, 2007 9:40pm
Lol, I find hillarious that the last two posts are writen by people with 'scalp' in there name! No bad ment by this comment, just gave me a giggle!

leon
Living the adventure in my head.
  • #64
  • Edited 10:25pm Nov 2, 2007 9:54pm | Edited 10:25pm
Some traders swear they trade TA and make good money.
Some traders swear they trade news and make good money.
Some traders swear they scalp and make good money.
Some traders swear they just flip a coin and make good money.
Some traders swear nothing works for them.

Bottom Line: To each his own.
If you are good at one thing, then keep it up.
No point sour graping at another trading technique/skill/principle if you are not for it.


ADDENDUM:
BUT if you are not an OLD DOG, you probably can still learn some new tricks.
  • #65
  • Nov 2, 2007 10:20pm Nov 2, 2007 10:20pm
My answer to you in Bold Black...


You did not even understand scalping and money and risk management... read the mantra and ultimate trader; then revise what you have written here... I do not want to teach you money management here... Yes bank account is 7 digits... and for 11 others who used my method...

I mean trading account.


You have a long way to go to understand scalping... first check your TP and SL numbers... You would not even understand the tools that scalpers use and the multiple strategies we activate to grab the pips... read about bracket trading and ladder tools... do a search on buttontrader... LoL

I find it hard to understand or even imagine. Maybe it is because I have been learning about trend trading for over a year. No bodies fault. Apple and Orange may be both fruit but neighter of them are the same. Right?

Thank you for your reply. Appreciated.

--TNT--
I Love Forex Factory!
  • #66
  • Nov 2, 2007 11:03pm Nov 2, 2007 11:03pm
Quoting Leonlorenzo
Lol, I find hillarious that the last two posts are writen by people with 'scalp' in there name! No bad ment by this comment, just gave me a giggle!

leon
I like to scalp for some quick pips also just for fun, but not to the point that I want to trade all the time. When I see a nice trend I would rather set a trade then go golfing for couple hours to enjoy some time off and unwind. It's a combination of both that I think would work best for me.

scalpt
  • #67
  • Nov 2, 2007 11:49pm Nov 2, 2007 11:49pm
Quoting --TNT--
My answer to you in Bold Black...


You did not even understand scalping and money and risk management... read the mantra and ultimate trader; then revise what you have written here... I do not want to teach you money management here... Yes bank account is 7 digits... and for 11 others who used my method...

I mean trading account.


You have a long way to go to understand scalping... first check your TP and SL numbers... You would not even understand the tools that scalpers use and the multiple strategies we activate to grab the pips... read about bracket trading and ladder tools... do a search on buttontrader... LoL

I find it hard to understand or even imagine. Maybe it is because I have been learning about trend trading for over a year. No bodies fault. Apple and Orange may be both fruit but neighter of them are the same. Right?

Thank you for your reply. Appreciated.

--TNT--
Trading account equity can be low... and easily compound it with scalping with high risk profile... (because of the 90% hit rate)... I can guess the knowledge from the posting... Seriously - just start here... read this article written by Kevin Ho, several times... fit this into ForEx... that's how I started too... Hope this helps...
Scalp Trading Methods
  • #68
  • Edited Nov 3, 2007 12:14am Nov 2, 2007 11:57pm | Edited Nov 3, 2007 12:14am
Quoting scalpt
Now that you've said it, I don't think scalping alone is a very successful strategy. If you count pips in the 5 minutes cycles you will see that there aren't much to scalp for, and most of the time they are just not worth it. I would much preferred a longer time frame for day trading rather than scalping for small moving increments throughout the day. My 2 pips.

Trade and be happy,

scalpt
Sorry... You have no clue about successful scalping strategies... Just put a 5 sec chart and see how many pip swings are there within 5 min cycle... You would not even see the moves from a 5 min chart... Just try SuperDOM, Ladder or Button trader (or similar tools) and see the results... You must know some good scalping methods to be successful... Read the Kevin Ho or Mantra for a good start... Also remember - a good scalper can capture big moves with his hands down... It is all in short game to score and win the game... (No need to slice or hook from larger time frames - which is good for Active Investors with million dollar funds trading CAX)... LoL
  • #69
  • Nov 3, 2007 12:05am Nov 3, 2007 12:05am
Quoting scalpt
I like to scalp for some quick pips also just for fun, but not to the point that I want to trade all the time. When I see a nice trend I would rather set a trade then go golfing for couple hours to enjoy some time off and unwind. It's a combination of both that I think would work best for me.
scalpt
You better be good at short game... Well... We all know what will happen to ForEx market during the time we take to finish 18 holes... You must be good at predicting the moves like our weather man... LoL
  • #70
  • Nov 3, 2007 12:16am Nov 3, 2007 12:16am
Quoting Leonlorenzo
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.
Currently, I often scalp JPY cross pairs(USD/JPY, GBP/JPY, EUR/JPY, AUD/JPY and CAD/JPY) with 1 minute Linuxtroll chart and daily Point and Figure charts, I think these scalping work well when sudden and sharp decline in the JPY cross pairs(I don't know about other pairs).

In Japan, Mr.Takashi Kotegawa(nickname:B・N・F) is respected as an individual stock trader. He has increased his own money from 1.6 million yen to 18 billion yen for 8 years. According to Japanese magazines, eight years ago he started long term trading, but he couldn't make good money. In the end, he converted long term trading into day trading or scalping(he seems to do hundreds(200～300) transactions every day) and he seems to have earned profits. Of course I have learnt from his example.
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • #71
  • Nov 3, 2007 12:28am Nov 3, 2007 12:28am
Quoting BurgerKing
Some traders swear they trade TA and make good money.
Some traders swear they trade news and make good money.
Some traders swear they scalp and make good money.
Some traders swear they just flip a coin and make good money.
Some traders swear nothing works for them.

Bottom Line: To each his own.
If you are good at one thing, then keep it up.
No point sour graping at another trading technique/skill/principle if you are not for it.


ADDENDUM:
BUT if you are not an OLD DOG, you probably can still learn some new tricks.
bro...teach me how to do scalping...
im newbie here at forex factory...
i am swing and intraday trader...
i want to learn something new about Scalping..

and to all member of ForexFactory...
who can share strategy and technique when to trade with me..

i appreciate that...
thankz
  • #72
  • Nov 3, 2007 2:02am Nov 3, 2007 2:02am
Fumafuma, sorry - off topic but maybe you can help me...

I've got a Japanese friend (in Japan) who wants to invest in a managed forex account. I can get him info on the US/European ones but how about in Japan? Do the Japanese go big into managed accounts? I don't even know what to type into Google for "managed account" lol

Thanks

Quoting Fumafuma
Currently, I often scalp JPY cross pairs(USD/JPY, GBP/JPY, EUR/JPY, AUD/JPY and CAD/JPY) with 1 minute Linuxtroll chart and daily Point and Figure charts, I think these scalping work well when sudden and sharp decline in the JPY cross pairs(I don't know about other pairs).

In Japan, Mr.Takashi Kotegawa(nickname:B・N・F) is respected as an individual stock trader. He has increased his own money from 1.6 million yen to 18 billion yen for 8 years. According to Japanese magazines, eight years ago he started long term trading, but he couldn't make good money. In the end, he converted long term trading into day trading or scalping(he seems to do hundreds(200～300) transactions every day) and he seems to have earned profits. Of course I have learnt from his example.
  • #73
  • Nov 3, 2007 6:52am Nov 3, 2007 6:52am
Quoting linuxtroll
Just try SuperDOM, Ladder or Button trader (or similar tools) and see the results...
trading plataforms like mt4? how can i using demo accounts with those plataforms?


Inserted Code
... Read the Kevin Ho or Mantra for a good start...

where is this mantra

what are normally you SL, TP?

many thanks
  • #74
  • Nov 3, 2007 7:01am Nov 3, 2007 7:01am
Quoting BurgerKing
Some traders swear they trade TA and make good money.
Some traders swear they trade news and make good money.
Some traders swear they scalp and make good money.
Some traders swear they just flip a coin and make good money.
Some traders swear nothing works for them.

Bottom Line: To each his own.
If you are good at one thing, then keep it up.
No point sour graping at another trading technique/skill/principle if you are not for it.


ADDENDUM:
BUT if you are not an OLD DOG, you probably can still learn some new tricks.
Agreed. I have tried scalping a few times and have never been able to do very well.. I think a big factor was I didn't like spending so long at the pc. I have no doubt there are much better scalpers than me. I have done very well with swing trading, this is my preferred style, but each to their own!
  • #75
  • Nov 3, 2007 7:47am Nov 3, 2007 7:47am
this tread is alive...lol,...Why not evrything,...trending, scalping, swinging,...and i mean not just forex, but stocks, cfds, futures,...what ever moves,...i think its wise to do both, because if i scalp and if something goes away, like 30 min trend finaly resums,..if i was scalping 5,10min.,..i am a little frustrated,...same as when i trend, and if i dont take the profit, and the profit turns into a looser, its even more frustarted,...and that happened to me a couple of times,...at cfds...and i hate that a lot more ,...still think in either way if u are trending it is wise to lock tiny profit,...thats the bigest problem when trending,..at scalping u wont to trend it,...no way, u need to take money and take it again...:
its just money
  • #76
  • Nov 3, 2007 10:15am Nov 3, 2007 10:15am
Quoting linuxtroll
You better be good at short game... Well... We all know what will happen to ForEx market during the time we take to finish 18 holes... You must be good at predicting the moves like our weather man... LoL
You may be better than I am at scalping but I can hold my own trading. I know when to set the trade and walk away for a while rather than constantly monitoring the trade; it all depend on market trending, volatility of the day, S/L and T/P... Here's my tip to you, use stoch to estimate the time it takes to finish a run. Just like golf, you can just grab a handful of grass toss them into the air and find out the wind direction and speed, you don't need the weatherman to tell you that.

Cheers,

scalpt
  • #77
  • Edited 5:39pm Nov 3, 2007 10:51am | Edited 5:39pm
Here what I know if you try scalping on cnx or hotspotfxi and hit the same bank over and over they will have their quotes pulled or worse case scenario have you dropped.

There are few blogs/threads out there doing quite well scalping but the fact is their trading micro mini accounts (no offense steve)

for any of those that are flying under the radar all I will say like I said w/ the news spike trading is milk it for as long as you can and don't share w/ anybody what broker your using casue it won't last for ever.
  • #78
  • Nov 3, 2007 2:20pm Nov 3, 2007 2:20pm
scalping works if you use CME futures 1 pip spread, No games no re-quotes,no price manipulation,commission 5.50. Each PIP is worth 12.50, I trade only at the usa open 2 to 3 hours, and the S&P mini at opening, The FX only trends about 30% of the time, This works at the opening of the London market also. Only trade a few hours as the market moves,I have my own program for scalping the futures, it works very well about 85% right on, my stops are at 10 pips, i trade about 4 trades on the average, All i can say scalping works for me i have done very well on the futures.The Fx has to big of spreads and to much manipulation.
  • #79
  • Nov 3, 2007 4:54pm Nov 3, 2007 4:54pm
Quoting turbokaos
Here what I know if you try scalping on cnx or hotspotfxi and hit the same bank over and over they will have their quotes pulled or worse case scenario have you dropped.

There are few blogs/threads out there doing quite well scalping but the fact is their trading micro mini accounts (no offense steve)

for any of those that are flying under the radar all I will say like I said w/ the spike news trading is milk it for as long as you can and don't share w/ anybody what broker your using casue it won't last for ever.

With out worries bro.. scalping works with a good edge. Just ask Mr. Einstein... he'll tell you that is like asking him if water is vital. Make some research guys...
-----------
Salud!
  • #80
  • Nov 3, 2007 6:57pm Nov 3, 2007 6:57pm
Quoting scalpt
You may be better than I am at scalping but I can hold my own trading. I know when to set the trade and walk away for a while rather than constantly monitoring the trade; it all depend on market trending, volatility of the day, S/L and T/P... Here's my tip to you, use stoch to estimate the time it takes to finish a run. Just like golf, you can just grab a handful of grass toss them into the air and find out the wind direction and speed, you don't need the weatherman to tell you that.

Cheers,

scalpt
Hope you got the point and apply your tip to your trading... You can only tell the wind direction at that moment... not from hour later or days later... Got it?

I know about Stoch, CCI, Williams %R, MACD, RSI, RSX, ADX etc... I do not need those indicators... Just a handful of grass (5 sec CyroxMMA) is enough to find the wind direction at that moment for scalping... I am not worried about the wind from an hour later or a day later... You must be having a super computer like weather man to predict the direction for days or week... LoL

I have given enough clues - Use it or just ignore it and move forward... Charge on make money and play golf...

Cheers,
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