Scalping.

[Amadeus.V]

Sounds so difficult, but the concept of getting profits so quickly is always tempting.

Keep that temptation in check. You want to trade with your mind not your feelings.

 

[CallahanSinclair]

Keep that temptation in check. You want to trade with your mind not your feelings.

Sure, but there's nothing wrong with accepting more risk from time to time. Fortune favors the bold they say.

 

[Antho]

Yes, we could also introduce a, let's say boring, strategy. Not that boring but still, not as exciting as scalping, and you profit from small gains. Trend trading based on various Moving average indicators. For gold, for instance, I'd suggest mixing the 200-day SMA with the 20-day EMA and identifying a movement. Although that gives you way fewer entries, but at the same time clearer ones with less risk ratio. You can also do other periods as well.

Absolutely! Trend trading using a mix of the 200-day SMA and 20-day EMA is a smart strategy, especially for assets like gold.

 

[Amadeus.V]

Sure, but there's nothing wrong with accepting more risk from time to time. Fortune favors the bold they say.

No, no, and no! Don't do that!! Why would you even say that! Accepting more risk is the worse advice you can give someone who is trading forex. Hell if that's what you want more risk, then just go gamble. Play poker or something. High risk high reward high loss. If you want to actually win as a trader you need to keep your greed in check. Always.
And I don't know who 'they' are but assuming that is what they said, 'they' are probably broke right now.

 

[Amy4]

No, no, and no! Don't do that!! Why would you even say that! Accepting more risk is the worse advice you can give someone who is trading forex. Hell if that's what you want more risk, then just go gamble. Play poker or something. High risk high reward high loss. If you want to actually win as a trader you need to keep your greed in check. Always.
And I don't know who 'they' are but assuming that is what they said, 'they' are probably broke right now.

Haha, you're not wrong! Keeping it cool and steady always wins the game

 

[Amadeus.V]

Haha, you're not wrong! Keeping it cool and steady always wins the game

Yeah mate, I've gone that path! I have been greedy from time to time, specially when I have some good wins, I have an inner voice that says "Ok! Now you got this, risk more and gain even more!". That's where I flump. People don't need to go the route that I went. You don't need to lose money just because you 'MIGHT' win more.

 

[CalvinT09]

What's ur go-to strategy for finding quick entry/exit points when scalping?? I'm tryna get faster at spotting these moves!!

 

[CryptoInFX]

Scalping can be good for earning small profits. For large ones this is not a good strategy.

 

[fargana]

I adhere to the view that scalping is best done on major currency pairs where spreads hover around zero. I mostly trade breakouts, trying to capitalize on a well-known, stable market anomaly: momentum, or price movement inertia. However, sometimes you have to wait a while for the right volatility to appear.

 

[rmufti68]

Major currency pairs can be good for easy scalps but as a new trader we better hunt setups on the high time frames because small time frames which support scalping can usually backfires since the markets moves randomly and getting in and out quickly can sometimes double the trouble too.