Is take profit at 10 pips considered scalping? | Forex Factory

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Is take profit at 10 pips considered scalping?

  • #1
  • First Post: Jun 15, 2009 1:47pm Jun 15, 2009 1:47pm
Is taking profit at 10 pips considered scalping, by which I mean is it considered scalping with brokers, and so on not allowed by most brokers?
  • #2
  • Jun 15, 2009 2:01pm Jun 15, 2009 2:01pm
You'll have to read the contracts to determine what is (or might be) scalping. If the contract is not clear, ask them for clarification in writing.

Scalping is a time frame thing - not a pip thing.

Quoting paypascal
Is taking profit at 10 pips considered scalping, by which I mean is it considered scalping with brokers, and so on not allowed by most brokers?
I'm pretty much done with all this ...
  • #3
  • Jun 15, 2009 4:35pm Jun 15, 2009 4:35pm
Quoting StoragePro
You'll have to read the contracts to determine what is (or might be) scalping. If the contract is not clear, ask them for clarification in writing.

Scalping is a time frame thing - not a pip thing.
yep. technically speaking, any trade less than 24 hours long is a scalp in forex. usually meant to be a trade that begins or ends within a trading session i.e. a trade taken after the US open and closed before the US close.

most legitimate brokers probably wont have a problem with ten pips. some will however so yeah, go with Pro's idea and look at the contract. if it isn't in the contract, try calling them up. if no one has any answers or doens't know, you'll be fine with a 10 pip tp. good luck!
  • #4
  • Jun 15, 2009 4:59pm Jun 15, 2009 4:59pm
Quoting blacksun1
if no one has any answers or doens't know, you'll be fine with a 10 pip tp. good luck!
Or find a new broker because that one is full of idiots... If a broker cant define what they think scalping is or is not, that is a bad thing...
  • #5
  • Jun 15, 2009 5:03pm Jun 15, 2009 5:03pm
Quoting traderjai_inhi
Or find a new broker because that one is full of idiots... If a broker cant define what they think scalping is or is not, that is a bad thing...

or it could just mean that they aren't concerned by it. scalping may not mean anything to them because they dont care. if they do give you a number and dont have any rules against scalping, that's just the guy on the phone's personal opinion. if he doesn't give you a number, it could be because he doesn't want to mislead a client.
  • #6
  • Jun 15, 2009 8:09pm Jun 15, 2009 8:09pm
well, if you're trading with a bucketshop. then it might become a problem if u r profitable. they will try 2 get rid of u. if u lose, then they will love u like their own sons n daughters. because u r their payroll. lol
  • #7
  • Jun 23, 2009 11:17pm Jun 23, 2009 11:17pm
Quoting blacksun1
yep. technically speaking, any trade less than 24 hours long is a scalp in forex. usually meant to be a trade that begins or ends within a trading session i.e. a trade taken after the US open and closed before the US close.

most legitimate brokers probably wont have a problem with ten pips. some will however so yeah, go with Pro's idea and look at the contract. if it isn't in the contract, try calling them up. if no one has any answers or doens't know, you'll be fine with a 10 pip tp. good luck!
Not to be too picky, but opening a position and closing it 20 hours later is not really considered scalping.

A scalping strategy tries to take only a few pips at a time in a very short time, i.e. 20m or less.

Making 3 or 4 trades in a day that last over an hour each would be considered day trading.

As you know, it typically goes:
Scalping
Day Trading
Swing Trading
Long Term Trading

In other words, scalping is a form of high frequency day trading. Day trading is simply lower frequency within the day.
  • #8
  • Jun 24, 2009 10:32am Jun 24, 2009 10:32am
Quoting JFX81
Not to be too picky, but opening a position and closing it 20 hours later is not really considered scalping.

A scalping strategy tries to take only a few pips at a time in a very short time, i.e. 20m or less.

Making 3 or 4 trades in a day that last over an hour each would be considered day trading.

As you know, it typically goes:
Scalping
Day Trading
Swing Trading
Long Term Trading

In other words, scalping is a form of high frequency day trading. Day trading is simply lower frequency within the day.

TECHNICALLY, as i said in my post, it is. you're right, in most trading forums and most education sites a trade that is 10-30 pips is a scalp. but in the pit or at institutions, a scalp is synonymous with a day trade, TECHNICALLY. you will still see some people make a distinction though. i'm talking about markets that have a definite open and close; markets that forex gets all it terms from. that is why i said TECHNICALLY instead of just saying a fact.
  • #9
  • Jun 24, 2009 11:28am Jun 24, 2009 11:28am
my broker define scalping as trade opened and closed less than 2 minutes.
  • #10
  • Jun 24, 2009 11:33am Jun 24, 2009 11:33am
i don't know about the time threshold of scalping but i read at some brokers License Agreement that they would consider a trade scalp if you close it within 3-4 minute above that you will be fine and almost any major pair could cross 10-20 pips in 3-4 minutes.

So i guess this is differnt for different brokers.
  • #11
  • Jun 24, 2009 11:34am Jun 24, 2009 11:34am
Quoting john123x
my broker define scalping as trade opened and closed less than 2 minutes.
Exactly what i mean we posted at the same time.
  • #12
  • Last Post: Jun 24, 2009 2:05pm Jun 24, 2009 2:05pm
I trade with FXDD. I don't know if it allows scalping or not. Where can i find out about that?
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