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Quick question for the newbie Forex scalpers
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Quick question for the newbie Forex scalpers

  #1 (permalink)
Breathe the body deep.
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Futures Experience: Intermediate
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Quick question for the newbie Forex scalpers

Hey guys, been a while since I've checked in here. But here I do be! hah.

Anyway, got a quick question for the newbie Forex scalpers on the forum:

What is the #1 thing you struggle with when it comes to Forex scalping?

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  #2 (permalink)
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  #3 (permalink)
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If you are serious, then spend a couple weeks reading all the questions and answers here:

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It should be blatantly obvious where people make the same mistakes over and over, and you can then try to avoid them.

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  #4 (permalink)
Trading Apprentice
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Trankuility View Post
Hey guys, been a while since I've checked in here. But here I do be! hah.

Anyway, got a quick question for the newbie Forex scalpers on the forum:

What is the #1 thing you struggle with when it comes to Forex scalping?


Transaction costs and slippages. It is the only thing that doesn't depend on me (can't be controlled or adjusted) but affect my trading seriously. Been changing the brokers as gloves, currently testing Hotforex. Even-handed take on them would be much appreciated&will save time on my search.

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  #5 (permalink)
Trading Apprentice
Malang, Indonesia
 
Futures Experience: Intermediate
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Favorite Futures: EURUSD, GPUSD, Gold
 
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Posts: 11 since Dec 2014
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Trankuility View Post
Hey guys, been a while since I've checked in here. But here I do be! hah.

Anyway, got a quick question for the newbie Forex scalpers on the forum:

What is the #1 thing you struggle with when it comes to Forex scalping?

struggle with one single currency, until find the right tune of it. scalping are never meant for new traders actually, it's not all about quick entry and quick exit at small pips gain. it's more a study upon any pair behavior such daily pips range, session pips range, good time for trade (put entry). collect as many data information related to specific currency would help to a better understanding and accuracy, it may takes time, but all trading strategies are worth of try if we take the study part seriously, in time it will be proven and paid off.

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  #6 (permalink)
Trading for Fun
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I trade 3 to 4 times a day...I think that will probably define me more a daytrader than a scalper.
Revenge trading and trying to get even has been an issue for me in the past. It's very easy to get doubtfull and start to question your edge. Confidence in your strategy is very important.
I found Brett Steenbargers book "The daily trading coach" to be helpfull.
The forex tester has also helped me gain confidence.

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  #7 (permalink)
Trading Apprentice
doha, qatar
 
Futures Experience: Intermediate
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Trankuility View Post
Hey guys, been a while since I've checked in here. But here I do be! hah.

Anyway, got a quick question for the newbie Forex scalpers on the forum:

What is the #1 thing you struggle with when it comes to Forex scalping?


I always struggle to find a good, reputable and transparent forex broker that would really allow me to freely scalp the market.
I used to scalp, manually entering and exiting the market and trading roughly 35 trades a day.
Unfortunately, what I thought would be the biggest, the oldest, most reputable and fair forex broker is the one who will do the unexpected.
FXCM terminated my account recently while I'm in the midst of scalping the volatile EUR/USD.
Without any warnings, reasons and replies, I don't know when will my investment be refunded back!

So struggling with scalping is one thing, but struggling with a CROOK BROKER is the main thing!

And after what they did to me just recently, I see them now as a big SCAMMER!

Beware dealing with FXCM!


Last edited by anagnam; March 26th, 2015 at 04:09 AM.
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  #8 (permalink)
Trading Apprentice
Malang, Indonesia
 
Futures Experience: Intermediate
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Posts: 11 since Dec 2014
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any trading strategies could benefit from fine-tuned money management.this are critical part of successful forex trading. many article given good trading plan, but most rookie traders doesnt fully understand. they only care with how much they can collect in short of time. to put simply, good money management is a methdo to Let your profits run and cutting your losses short. scalping may seem like a derogatory term, it is quite normal in reference to the Forex markets. This action is involved with the rapid buying and selling of a position of currency pairs. for such trading purpose I use Tickmill ECN account. this company was armada markets backthen its reputation is perhaps one of the most important benefits that scalpers can enjoy.

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  #9 (permalink)
Trading Apprentice
doha, qatar
 
Futures Experience: Intermediate
Platform: cTrader
Favorite Futures: Forex
 
Posts: 10 since Jun 2014
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sensei View Post
any trading strategies could benefit from fine-tuned money management.this are critical part of successful forex trading. many article given good trading plan, but most rookie traders doesnt fully understand. they only care with how much they can collect in short of time. to put simply, good money management is a methdo to Let your profits run and cutting your losses short. scalping may seem like a derogatory term, it is quite normal in reference to the Forex markets. This action is involved with the rapid buying and selling of a position of currency pairs. for such trading purpose I use Tickmill ECN account. this company was armada markets backthen its reputation is perhaps one of the most important benefits that scalpers can enjoy.

thats true. for now Im happy to have found a new ECN broker for my scalping needs!

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  #10 (permalink)
Trading Apprentice
Malang, Indonesia
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: EURUSD, GPUSD, Gold
 
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Posts: 11 since Dec 2014
Thanks: 0 given, 1 received



anagnam View Post
thats true. for now Im happy to have found a new ECN broker for my scalping needs!

glad can help. most trader may easily attract with scalping strategies, rapid order, fast in fast out. but remember any kind of trading strategies has it own risk.

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