Quote:
Originally Posted by imported_Bigpips
Scalping the forex is the most difficult endeavor you will ever undertake. To think it could be "easy" is unrealistic, at best.
Why ?
Simple : the spread!
For example, if you want to make 20 pips a day, you must win 23 pips (assuming a 3 pip spread). On the other hand, your forex broker only needs a 17 pip move against you to win 20 pips (17 + 3 = 20)! So you need 23 pips while your broker only needs 17 pips. That means you must win much, MUCH more often than your broker to profit in the long run.
Next you need a solid and fully backtested trading system that will give you a mathematical edge. And no, I don't mean 100 or 200 trades, I mean you must backtest your system with at least 1.000 (historical) trades and 8 to 10 years worth of forex data.
Yes you can make a good living scalping the forex market, but you really need a robust, backtested trading system. So don't open that bottle of Champagne yet because you won 20 pips a day for the last three days, it is much much more complicated than that.
That said, happy scalping.
|
Solid and Fully Backtested Trading System ... Got it.
Robust ... I'm still Given 'er.
Years Trading ... 8+
Number of Trades to Date ... I wasn't counting.
Mathematical Edge ... probably shows itself in MY Confidence ... and My Daily Posts.
Champagne ... Never touch it ... I prefer Okanagan Merlot.
I recommend that You Lose the Fear ... as it's going to keep You focused on the Negatives of Trading. And Yes ... Trading is a Lot Simpler than You are obviously able to realize Right Now. You've gotta Lose the Buddy.
