Forex Scalping Strategies for Active Traders - Page 5 - DailyFX Forex Forum

Sofia.forex · #61 (**permalink**) 06-26-2009, 05:05 AM

During the trade only follow what you though, analyzed and created before the trade. Before you enter the trade you are cool and balanced, you are thinking logically. During the trade you are under fire since money is involved. You are under pressure. What makes you think that you can make better decisions under intense fire then when you are calm and balanced? You can't. That is why you planned the trade before hand. Follow your plan!

sed34 · #62 (**permalink**) 06-30-2009, 09:51 PM

there are way too many losses on the 5/13. i'm going to use a 1:1 ratio. i'll try the cci next and see how i do.

imported_Bigpips · #63 (**permalink**) 07-06-2009, 09:58 PM

Quote:

Originally Posted by Gregory McLeod

This is where Active Trader's Market Depth indicator comes into play to help identify these imbalance opportunities.

Hi Mr. McLeod,

Is there any software out there that will automatically find these imbalance opportunities in a nanosecond and profit from them accordingly, all day long?

Just wondering.

Anne09 · #64 (**permalink**) 07-07-2009, 04:32 AM

Really Forex Scalping is a different trading strategy where traders allow their open positions to last only for few seconds or for a minute and most probably 1or 2 minutes. Most of the time scalping involves for few seconds or minute, that’s a real scalping, it can also be called Quick Trading.But Scalping involves high risk, it depends on leverage and high leverage means high risk. Forex Scalper enters in a trade only for a short period of time, and with a high risk, But to get a high profit also. Scalpers are making much profit and scalpers are using high leverage also, so a large amount of money is required for a forex scalper. If the trade initiated by forex scalper is in favor of scalper than it’s good, but if trade goes to against the scalper, than scalper have to face a big Loss.

Sofia.forex · #65 (**permalink**) 07-07-2009, 06:25 AM

Quote:

Originally Posted by Anne09

Really Forex Scalping is a different trading strategy where traders allow their open positions to last only for few seconds or for a minute and most probably 1or 2 minutes. Most of the time scalping involves for few seconds or minute, that’s a real scalping, it can also be called Quick Trading.But Scalping involves high risk, it depends on leverage and high leverage means high risk. Forex Scalper enters in a trade only for a short period of time, and with a high risk, But to get a high profit also. Scalpers are making much profit and scalpers are using high leverage also, so a large amount of money is required for a forex scalper. If the trade initiated by forex scalper is in favor of scalper than it’s good, but if trade goes to against the scalper, than scalper have to face a big Loss.

Well i feel never try to pick absolute tops and bottoms. I know of traders that have an addiction with this. They always look to pick the absolute bottom or top and ride the market on the reversal. They succeed one or twice but eventually suffer a big hit. If you can't help it and you want to try and look for those huge turning points in the market at least use some sort of confirmation. Don't just guess "this is the top" or "this is the bottom".

Gregory McLeod · #66 (**permalink**) 07-08-2009, 07:29 AM

Quote:

Originally Posted by sed34

there are way too many losses on the 5/13. i'm going to use a 1:1 ratio. i'll try the cci next and see how i do.

Ok. Thanks for your post.

sed34 · #67 (**permalink**) 07-14-2009, 11:27 PM

ok. using higher time frames and the 200 sma eliminated a lot of the false signals. always trade with the trend. until there is a retracement. then you can get burned again if you are not careful

hardelly · #68 (**permalink**) 07-18-2009, 01:07 AM

Dear Greg & Members,

My experience in Scalp trading I would say the primary factor is greater % of accuracy. The secondary factor is risk/reward. This means focus on one particular pair rather than multiple. When this primary factor outcome is more favorable then Risk/reward will be adjusted accordingly depending on the parameter set up say as long as 5 SMA is not crossing 13 SMA yet you may set 1:2, 1:3 or more.

In my case, I am trading EUR/JPY using 5 minute chart as Greg recommended. I just concentrate on trading this pair only & using other pairs as correlations; GBP/JPY, AUD/JPY, CHF/JPY & USD/JPY. So the benefit of trading only one pair is that you will gain more knowledge about this pair in terms of chart patterns, its reaction towards specific news announcement and other behaviorables like BOJ & ECB decisions..etc.

So stick to your strategy, trust your system & enjoy trading..!

Other members out there, care to share your experience?

Warmest Regards &
Wish you best of luck.

Hardelly

Gregory McLeod · #69 (**permalink**) 07-21-2009, 02:28 AM

Quote:

Originally Posted by hardelly

Dear Greg & Members,

My experience in Scalp trading I would say the primary factor is greater % of accuracy. The secondary factor is risk/reward. This means focus on one particular pair rather than multiple. When this primary factor outcome is more favorable then Risk/reward will be adjusted accordingly depending on the parameter set up say as long as 5 SMA is not crossing 13 SMA yet you may set 1:2, 1:3 or more.

In my case, I am trading EUR/JPY using 5 minute chart as Greg recommended. I just concentrate on trading this pair only & using other pairs as correlations; GBP/JPY, AUD/JPY, CHF/JPY & USD/JPY. So the benefit of trading only one pair is that you will gain more knowledge about this pair in terms of chart patterns, its reaction towards specific news announcement and other behaviorables like BOJ & ECB decisions..etc.

So stick to your strategy, trust your system & enjoy trading..!

Other members out there, care to share your experience?

Warmest Regards &
Wish you best of luck.

Hardelly

Thanks for sharing your thoughts. I found the EUR/JPY had a low spread and moved quickly. These two points are important.

Gregory McLeod · #70 (**permalink**) 07-21-2009, 02:29 AM

Quote:

Originally Posted by sed34

ok. using higher time frames and the 200 sma eliminated a lot of the false signals. always trade with the trend. until there is a retracement. then you can get burned again if you are not careful

Yes, the larger time frames cut down a lot of the 'noise' found on the lower time frames.

hardelly · #71 (**permalink**) 07-22-2009, 06:55 AM

Thanks Greg. I'm now using live account with FXCM Micro; putting those learning experiences & practices into real trading. Am willing to post what ups, what downs in this forum particularly using active trader market depth.

Warmest Regards
Hardelly

hardelly · #72 (**permalink**) 07-22-2009, 07:38 AM

Hi Greg,
please find attached for sharing. Sorry I forgot on how to use jpg file.

Gregory McLeod · #73 (**permalink**) 07-30-2009, 09:38 AM

Quote:

Originally Posted by hardelly

Thanks Greg. I'm now using live account with FXCM Micro; putting those learning experiences & practices into real trading. Am willing to post what ups, what downs in this forum particularly using active trader market depth.

Warmest Regards
Hardelly

Welcome to FXCM. I am glad to see that you are trading live with us.

Gregory McLeod · #74 (**permalink**) 07-30-2009, 09:43 AM

Quote:

Originally Posted by hardelly

Hi Greg,
please find attached for sharing. Sorry I forgot on how to use jpg file.

Hey Hardelly. I placed your chart in MS Paint so people can view it. Good job using Market Depth to confirm the trade.

hardelly · #75 (**permalink**) 08-03-2009, 04:59 AM

Hi Greg

For sharing today.....