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Scalping techniques on 1 Min chart

Quoting scfx
I have looked at a 1min chart and thought it's the way to go. It's way to fast and volatility changes so quickly you can never catch up. I also found it very hard to read from bar to bar.

IMO, I suggest you look at 5 and 15 min if you want to scalp. If you have 10min also good.

Cheers
scfx
ITs true .. i prefer 5 minutes .. sometimes im using special scalping technology for scalping big resistances or supports => i set up 5 pending orders with one stop loss level (every next position is bigger, so i risk less) + im scalping volatility inside Resistance and supports level (around 30 - 50 scalps with target 2 - 5 pips) .. but it only works with the Best resistances, where are 3 - 5 testing
Surely the spread would kill any kind of profit if you were scalping on 1 minute charts. I'd say follow 5min or more.
I am also trying to scalp, though I am beginning to see that it is in fact wayy to much noise, especially with EURUSD. I would like to become more of a swing trader, but I am worried about an appropriate stop loss. Any advice??
Try the futures market, scalping in spot FX is non-sense as the spread based cost per scalp will eat your profits for breakfast, lunch and dinner.
Quoting Nadone
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
Have you considered trading scheduled economic news releases?
Low spread is your best friend.
  • Post #27
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  • Last Post: Sep 19, 2011 9:55am Sep 19, 2011 9:55am
Quoting Nadone
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
if you don't have lot of time, i think scalping is great way how to start with trading forex But be carefull, don't use too short timeframes, my advice to you is to use M5 chart for trading, find supports and resistances at H1 and H4 charts .. use proper money management SL:TP 1:2

Another way is to choose markets in rally and scalping volatility .. find market in rally, set up your SL level and each 5 pips open an position, once one of your position is in profit 5 pips, close it. Very important is to choose only one side, regularly against the trend.

Good Luck!!
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