Scalping systems with 20+ trades per pair daily | Forex Factory

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Scalping systems with 20+ trades per pair daily

  • #1
  • First Post: Edited May 22, 2011 7:21am May 20, 2011 11:16am | Edited May 22, 2011 7:21am
I shared some of my systems on the forum and now I'm hoping some of you can share or point me towards some scalping systems where a high number of trades are taken on a pair each day in the aim of a net positive result at the end of the day.

I used to trade my own M1 strategy that involved 10+ trades on EURUSD daily but it was only profitable for a few months.

I can trade the M5 charts and make money but I have a huge interest in the higher frequency trading styles and would like to learn how to better trade in that style.

If anyone can point me to some systems or suggest some ideas I would like to hear and I'm sure I'm not the only one who would be glad of a thread like this as many are interested in the same style of trading.

Thanks,

Roofx
  • #2
  • May 21, 2011 9:14pm May 21, 2011 9:14pm
Good Luck. If you develop a reliable system to fulfill your stated objectives, you, sir, are a multi-millionaire overnight...and I hope you do it!
  • #3
  • May 22, 2011 2:20am May 22, 2011 2:20am
Quoting Roofx
I shared some of my systems on the forum and now I'm hoping some of you cans share or point me towards some scalping systems where a high number of trades are taken on a pair each day in the aim of a net positive result at the end of the day.

I used to trade my own M! strategy that involved 10+ trades on EURUSD daily but it was only profitable for a few months.

I can trade the M5 charts and make money but I have a huge interest in the higher frequency trading styles and would like to learn how to better trade in that style.

If anyone can point...
You need a system with a huge positive expectancy, otherwise trading costs will kill your account.
  • #4
  • May 22, 2011 2:46am May 22, 2011 2:46am
Here I come totaly newbie...gonna try scalping as my 'starter kit'...
  • #5
  • May 22, 2011 7:24am May 22, 2011 7:24am
Quoting Unchained
Good Luck. If you develop a reliable system to fulfill your stated objectives, you, sir, are a multi-millionaire overnight...and I hope you do it!
I'm not asking for advice on how to become a millionaire overnight but a way to take more trades for smaller gains with the same objective as those who take fewer trades with higher gains per trade. I have sen traders taking 60+ trades per day and make a modest living from it but I have never understood what exactly they are doing to get so many short term signals.
  • #6
  • May 22, 2011 7:30am May 22, 2011 7:30am
Quoting Custos
You need a system with a huge positive expectancy, otherwise trading costs will kill your account.
Yes, that's exactly it. I'm used to trading with inverse risk reward ratios of 2:1 and getting a high hit rate but I want to trade more often for less gain per trade. My transaction cost for EU is less than 2 pips including spread and commission on the FXCM active trader platform. I have heard of scalpers looking for just 40 or 50 cents per trade but taking hundreds of trades per day, but how?
  • #7
  • May 22, 2011 7:37am May 22, 2011 7:37am
Quoting Roofx
Yes, that's exactly it. I'm used to trading with inverse risk reward ratios of 2:1 and getting a high hit rate but I want to trade more often for less gain per trade. My transaction cost for EU is less than 2 pips including spread and commission on the FXCM active trader platform. I have heard of scalpers looking for just 40 or 50 cents per trade but taking hundreds of trades per day, but how?
If you use stop or market orders to get in and out you also have to include slippage into your trading costs. Then your trading costs are around 3-4 pips per trade.

I think the scalpers that take hundreds of trades a day have very low transaction costs, and you would need to be an institution or a bank to get these low costs, otherwise it's not worthwhile.
Anyways, I would just stick to your current method and not bother with the very short term.
  • #8
  • May 22, 2011 8:35am May 22, 2011 8:35am
Quoting Roofx
I shared some of my systems on the forum and now I'm hoping some of you can share or point me towards some scalping systems where a high number of trades are taken on a pair each day in the aim of a net positive result at the end of the day.

I used to trade my own M1 strategy that involved 10+ trades on EURUSD daily but it was only profitable for a few months.

I can trade the M5 charts and make money but I have a huge interest in the higher frequency trading styles and would like to learn how to better trade in that style.

If anyone...
First i personally believe, there is no rule for scalping in general, cause it depends the time and market you choose to scalp.
It is possible that my system is perfect according to pair and time and market i use but it's worst for you .
Also,i assume that for M1 and M5 you can't find a reliable system on net but before scalping you should have a big picture of those who are trading and market at that time, it's very important and also find the dead, valid and psycho levels as well to get profit.
Good Luck
Just check my signals with your experience then decide, please,
  • #9
  • May 22, 2011 9:26am May 22, 2011 9:26am
Disclaimer: I am not net profitable.

I scalp, almost always have for the past 1 1/2 years.
I prefer the 1 min TF.

I try to take trades near support and resistance levels and 'psychological' levels.
I am looking for quick profits and trades that 'snap' into profit quickly (or at least beat the spread).

Any large losses I have sustained are from lack of discipline regarding large moves against me.
I do use a wide stop (allow up to 30 pips in very volatile situations...news, NFP, etc).
Though most trades probably only need an 8-10 pip stop-loss.

My AVERAGE loss is slightly larger than my AVERAGE win. This has proved consistent over +1000 trades.
My win % rate is around 70%.

Trading costs (spread) CAN be beaten on short time frames.
Is it easy? No, absolutely not.

A long trading day would be 4-5 hours. Normally, that would result in 10-20 trades.
I haven't been able to trade +50 times a day...with a small edge...and turn a profit consistently.
There just aren't that many opportunities.

Much of my time is spent waiting... waiting for price to get to a certain level.
Perhaps after an hour, I may only make 3 pips... it varies.

Basically, a counter-trend trader... I rarely chase price.
I usually sell on an UP candle, and BUY on a down candle on the 1 min TF.
I rarely buy/sell breakouts. I probably give TREND the least consideration when entering,
favoring support and resistance, momentum, and overbought/oversold situations.

All of this takes practice, a lot of practice.
Market conditions are always changing.
(I wish the markets were like they were six months ago.)

Knowing how to trade during certain market conditions and realizing when to 'sit out' takes practice also.
Some days I make great profits scalping for 2-4 pips all day, with hardly any losing trades.
Other days, because of volatility or liquidity, wins are larger BUT losses more frequent.

With leverage, you can use a position size that will produce nice daily gains with relatively few pips.
That is my goal.

I don't worry about my risk:reward ratio so much... but I do evaluate my expectancy all the time.
I keep detailed records of trades, trading days, conditions, spread, etc.

If the rules for a successful scalping system were rigid and definable,
we could make a great scalping EA... but alas, until then...
I'm certain to be 'glued' to my screen.

Good Luck!
  • #10
  • May 22, 2011 11:29am May 22, 2011 11:29am
What you want is here. http://www.forexfactory.com/showthread.php?t=57639

Good Trading
  • #11
  • May 22, 2011 11:45am May 22, 2011 11:45am
Quoting tubguy
What you want is here. http://www.forexfactory.com/showthread.php?t=57639

Good Trading
Disagree!

If you wana make a point about fti's thread or a comparisson with scalping then i think you should give more detail.

To read fti's thread is a huge task. He doesn't come straight to the point and the thread in general is not user friendly at all. It is also not related to the topic of this thread.
  • #12
  • May 22, 2011 1:39pm May 22, 2011 1:39pm
Quoting RandomGamble
Disagree!

If you wana make a point about fti's thread or a comparisson with scalping then i think you should give more detail.

To read fti's thread is a huge task. He doesn't come straight to the point and the thread in general is not user friendly at all. It is also not related to the topic of this thread.
Agreed, it is a big read and can be hard to get the gist of if. Took me a year to really understand it with some help from others there.

It is however, related. I trade just as the op is asking everyday. Using what was learned in that thread.

I provide no detail because the OP should make the decision as to what they choose to read or not. I'm just pointing it out for evaluation.

Good Trading
  • #13
  • May 22, 2011 1:49pm May 22, 2011 1:49pm
Quoting tubguy
What you want is here. http://www.forexfactory.com/showthread.php?t=57639

Good Trading
Hi my friend but how this thread relates to this one and question
Pls guide us more, may you find out something that i couldn't.
Just check my signals with your experience then decide, please,
  • #14
  • Edited 2:11pm May 22, 2011 2:10pm | Edited 2:11pm
Quoting Tania
Hi my friend but how this thread relates to this one and question
Pls guide us more, may you find out something that i couldn't.
Tania, i would be more than happy to help you understand better, but feel this thread
is not the proper place to discuss another thread. Please feel free to PM me.

Good Trading
  • #15
  • May 22, 2011 2:15pm May 22, 2011 2:15pm
I scalp since last year. Opposite to the signature of Tubguy, trading is not about making pips but money. And to make money, especially if you scalp, you need money. You need a big enough equity to give you the leverage allowing you to take higher risks.

I am doing currently between 15 and 80 trades a day and my target is to get to more than 100. The more you trade the more you gain. I do not care about trends. I care about levels and price action. I am closing a trade in 5-20 pips, usually closer to 5 that 20. I am trading Dukascopy so I have a low spread but I pay commissions.

In terms of pips my average day is around 100-120. My best day was over 330 pips on 6 pairs.

Kudos to Intu for scalping on a such small account but he is not making any money. If you really want to scalp there is only one solution. Increase your equity.
If you're not part of the solution then you're part of the problem.
  • #16
  • May 22, 2011 2:22pm May 22, 2011 2:22pm
Quoting tubguy
Tania, i would be more than happy to help you understand better, but feel this thread
is not the proper place to discuss another thread. Please feel free to PM me.

Good Trading
I thought your recommendation is directly linked to the original's poster question/issue. Where else would be a better place to discuss why you recommend this thread and how it relates to the topic discussed in here?
  • #17
  • May 22, 2011 2:24pm May 22, 2011 2:24pm
Quoting majorusa
I scalp since last year. Opposite to the signature of Tubguy, trading is not about making pips but money. And to make money, especially if you scalp, you need money. You need a big enough equity to give you the leverage allowing you to take higher risks.

I am doing currently between 15 and 80 trades a day and my target is to get to more than 100. The more you trade the more you gain. I do not care about trends. I care about levels and price action....
Can you please explain why increased equity is the only solution to scalp? I would imagine that account size doesn't matter at all, cause your position sizes are always relative to your account.

Would be glad, if you could explain your point further.
  • #18
  • May 23, 2011 2:59am May 23, 2011 2:59am
Quoting Custos
Can you please explain why increased equity is the only solution to scalp? I would imagine that account size doesn't matter at all, cause your position sizes are always relative to your account.

Would be glad, if you could explain your point further.
The bigger the acc the better for scalping. Some traders like myself increase my lot size after a loss.

I have a high probability scalping setup which increases my edge by increasing my lot size.
  • #19
  • May 23, 2011 3:08am May 23, 2011 3:08am
Quoting RandomGamble
The bigger the acc the better for scalping. Some traders like myself increase my lot size after a loss.

I have a high probability scalping setup which increases my edge by increasing my lot size.
yes, but in the end, that lot size is again only relative to your account size. The other poster claimed that scalping is only possible with a big account. But other than getting smaller profits with smaller accounts, I don't understand why a big account is required to scalp profitably.
  • #20
  • May 23, 2011 3:48am May 23, 2011 3:48am
I am not claiming anything. The only thing that I am saying is that trading is not about pips, it is about money. In scalping you can make a ton of pips without making any money. And to illustrate this, in Dukascopy the minimal entry is 1000 USD, this means 0.1USD/pip. Let's suppose that you close your trade in 5 pips. This is a 2.5 USD gross gain because you have to subtract commissions too. You make 20 trades a day. Meaning 100 pips but only 25 USD. Can you live out of 25 USD?
If you're not part of the solution then you're part of the problem.
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