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Short term scalping

 
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chanthienrim

Short term scalping

Short term scalping is the one opportunity that I found helpful in my trades, helpful in the event that I only focus on M1 and M5 predominantly to get in and out for ranging the one and two quick pips.

Thu, 11/29/2018 - 11:14pm
 
asharp

I had some success yesterday "wobbling" into the trade. Thought I would try it after I saw Shawn doing it in one of the videos. Managed to grab 80 pips on two trades. Lot of work though!

 
chanthienrim

Yes it's lot of work, I managed to get a lot of pips in the last two days, but some conditions,

 
angayle

If you consistently trade those low time frames, are you not always tied to the computer screen!?

 
jfk583

Scalping is great to get quick pips out of the market with trend.

 
tyson737

What is your trigger for entering a trade? What is your "some conditions" that you referenced?

 
shawnf22

I have toyed with wobbling a little with some success and some not so success. I like it but need to study up on it a little more.

 
Rookie

My view unless you get really good at positions with at least at a 25K account, scalping is only good for filling in time with a few green pips.

This morning I avoided the news spike up and down and did a few chores on an off waiting on my groups. Overall it was ok but when subtracting the cost from the gross there is about 50 bucks left for me.

BTW I only had 5 trades that were close to -25 pips in this group. We shall stop that stuff, makes a difference as removing them brought my net up to about $90.00.

So how do I know that difference and what to adjust? I do whats called homework or postmortem, https://apiaryfund.com/forum/equity-aka-homework

11-30 Scalpoing a few hours this morning.JPG
 
Ms Pip Hunter

Scalping can be hard and painful but it is actually I way to build an account. However the right strategy helps. I’m trying to decide which is better but ultimately find for me it comes down to the day. Like yesterday I scalped my way to 10% increase and took one short term trade that gave me another 2%. But it was hard work

 
Rookie

Ms. Pip Hunter, congrats on your 10%, did you have the decimal in the right place?...LOL

totally and 100% disagree with that statement. My example just above at $50.00 per day for 200 trading days is a mear 10K so if you good ok $20K. We really need to understand Shawn is the exception.

So say its still a matter of money management. For the most part that is correct. I say for the most part because of that's not 100% correct. You have to have the amplitude on the pair to make it work. So most scalpers mover to the 5M or even higher to get the amplitude of the pair which will also cover errors of the trading environment.

Today we spent 30 minutes with Jeff on this very subject in our group class. This also exactly why I am moving to the higher time frames, less work, less stress, KISS, more profit, and less cost.

I challenge any scalper to show with hard facts that they make more than $100.00 per day consistently or even plus 1% of the equity consistently every day. A person that scalps every day should have NP producing results for 25K to 100K trades and more.