What do other traders say on scalping...
1) analyzer says:
One strategy does not work in ALL environment. Spread trading described above works in a rangebound market but is a prescription to disaster in a trending market. For example, it is my observation that Tokyo session is generally rangebound, so spreading/grid/short straddle works. But London session generally trends, so momo works. And New York session chops than slowly grinds one way.
So you need a different strategy for different market environment. Those who profess superiority of one trading style over others are blinded to their own intellectual hubris because the market is dynamic not static.
My observation is on EUR/USD only, I don't know how other pairs act.
2) pkononenko says:
I have just started trading recently and the strategy that worked best for me was trying to predict very short term with a mix of fundamentals and technical indicators, Fibonacci and MACD being my favorites. Eyeball the very short term 5-min 1 day chart to get a feel for where the oscillating 'price wave' will move in the next few minutes-half hour.
Once you see a signal for reversal, try to estimate whether the move would be potentially larger than the bid/ask spread. Then, buy in, set the limit 3-5 pip above the break/even price (or below, if you are shorting). Use max leverage so that you get a decent return for your effort.
This strategy is pretty laborious, and you might end up doing 20-30 trades within few hours, each lasting 5 mins-2 hours.
Disclaimer: this strategy has only 3 days of 'track record', which is nothing for markets, but it yielded handsome returns so far.
Happy trading.
3) spunky says:
I am brand new to this, but I have had luck with my settings and the GBP/CHF. Netting 20 pips each time . I am finding that in currencies you have to learn the basics, fundamentals, and tech analysis and then learn to apply them. I see fundamentals moving more the market trends, and using charts for intra day scalping. Just my 2 cents
I enjoyed the FX power course. it was very helpful
4) My own words:
I must Learn to understand fibonacci & waves concept before trading using scalping method'''}
