Thread: Why scalping doesnt work........

Originally Posted by ;

Which is your broker?

Interactive Brokers

Originally Posted by ;

leon I dont regree with the guide, I understand a full time dayscalper that lives out of this and I have myself purchased eduion and really it works! . Its really a matter to get money on the account to acordingly trade without leverage and then the time and patience to learn the game and once u think u have heard it learn more. I could se u have traded for many years, have u tryed daytrading? Some have it some dont enjoy many different things in existence


revoke

Thank you for posting on the thread! Ive traded for a few years but have never been able to call myself consistant. Now at the moment im trading off the 1/5min charts and am beginning to see results, but not yet to the point of saying I am cnsistant.

But Im decided and will keep moving onwards!

leon

Originally Posted by ;

Scalping stone! ... for some individuals, (like me), although maybe not for everybody.

So, my conclusion is... you need to look for the egy which works best for YOU. Listen to the help of experienced traders but take your own choice and create your own strategy.

How true Ado!
A superb response to the article originally written by Monica Hendrix. She's written many posts of the subject --which nobody ever has or ever will make money daytrading or scalping. All of daytrading posts and her scalping are the same except for the names, which are usually misleading.
I am not certain why she writes a lot about the perils of short-term trading. She is quick to call scalpers though scalping is at least as, if not more, demanding than any other procedure. Her posts seem suspiciously like a teaser leading up into something for sale and read like advertising copy.
Personally, I still don't scalp much, but that's only because it's not my greatest strength. However, there are setups which beg to get scalped and I take'em when I visit'em.
It's never good to broadly dismiss anybody's method like Monica is really fast to perform.

Originally Posted by ;

I am unsure how it's any less absurd than attempting to predict what countless traders will do within a week or a month. The identical supply/demand patterns appear on all time frames. Trading isn't about predicting but reacting.

I enjoy that, I like that alot. Mind if I slip it?! lol

TRADING IS NOT ABOUT PREDICTING BUT REACTING!

Originally Posted by ;

I'm unsure how it's any less ridiculous than attempting to forecast what millions of traders will be doing within a week or a month. The identical patterns appear to all time frames. Trading is not about calling but responding.

Ive seen you round the Forum alot, and on most cases concur with ur oppinions.

Now a thing that I persanally find is that in case you take the time axis and price axis off a chart and ask someone to let you know what thetimeframe is.... They cant take action.
So what does this meen? Well, in my oppinion it meens a great should work on any stage (maby changing some settings) but also the overall system should work because the same'rules' apply. The most important benefit to higher timeframes in my personal oppinion is more thinking time!

Thank you for the post
leon

When their life depends on it, just because somebody can not scalp even, doens't mean it is not a system. When majority of the world traders cannot scalp, it doesn't mean scalping doesn't do the job.

It merely means it doesn't work for YOU.


This is why I love trading. You can find anything that can work in trading, In case you have patience and persistance. I know scalpers just smile reading this thread

Originally Posted by ;

simply because somebody can't scalp even if their life depends on it, doens't mean it's not a workable system. If majority of the world traders can't scalp, it still doesn't mean scalping doesn't do the job.

It just means it doesn't work for YOU.


That is why I enjoy trading. In case you have persistance and patience, it is possible to find something which can work in trading. I know scalpers simply smile reading this thread

Originally Posted by ;

simply because someone can't scalp even when their life is dependent upon it, doens't mean it is not a viable system. Even when majority of the world traders can't scalp, it still doesn't mean scalping does not do the job.

It just means it does not work for YOU.


That is why I love trading. You can find anything that will work in trading provided that you exercise sound cash management In case you have persistance and patience. I understand scalpers simply smile reading this thread

BTW, I just thought Id point out that the article is using the expression'scalper' differently compared to a intraday trader would.
The Article really refers to each of Intraday trading as Scalping in my oppinion, which is reasonable enough, since the true meaning of scalping is taking the top off a move, or part of it, which can be done at virtually any period.

Leon

Originally Posted by ;

Forex scalping is one of the most popular methods of making money on the internet and involves day trading and taking small regular profits that will eventually lead to enormous profits over time. Let's look at forex scalping in detail.

There is a huge business in forex trading systems and vendors promote them greatly on the net with track records that are quite simply mind boggling. The issue is - they do not work and you'll lose.
These men aren't traders in most instances, their simply marketing businesses.

For a trader for 25 years that I simply laugh once I see headlines like make 700 pips a week etc but many innocent and greedy traders get taken in by forex scalping marketing copy and its no laughing matter when they lose their money!

So why doesn't forex trading or day trading work?
Well if you think about it it's clear:
You've got countless traders, trading trillions of dollars and to say that you can predict what this huge mass of individuals will do in only a few hours - is quite frankly absurd.
Volatility does and can take prices everywhere a day and support and resistance levels are meaningless - so that you cant get the odds on your side and you cant win.
Anyone who believes they can win has not tried forex trading!
So that you can not win more term?
No you can not -
Many vendors claim that you can predict with scientific precision what's going to happen in forex -Truly?
If they could, they would not be promoting forex trading systems - they would be to busy making money.
Another point of course is if you could predict what markets do in advance then there would be no market as we'd all know the solution in advance, markets move on uncertainty and remarks and theres an investment fact.
The vendors however do produce track documents however, their meaningless and not worth the paper their written on.
Why?
Assess the disclaimer and you'll see the words mimicked and in hindsight - therefore there done KNOWING the final prices - how hard is that?
You, me or anyone else could do this. Is a problem !
In the real world, you have to trade without knowing the final prices and that makes things a little bit harder.
The benefits of forex trading are enormous and its not easy to make money - but if you attempt a strategy based upon forex trading, you are simply going to have a lesson in how hard it is.

THE GOOD NEWS!
Of course, together with all the benefits on offer you would not expect it to be easy either and this is good news.
Leave the forex trading systems to the dreamers and lazy traders and do your homework and find the ideal forex eduion and that means trading more term and getting the odds on your side.
It's possible to trend follow more term or do short term swing trading and both can make you money you only have to get a simple system to exchange the odds and in these time frames you can find the odds on your side.
Forex trading can give you profits that may be life changing and what about forex trading can be learned by anyone, together with the desire to be successful and the ideal eduion.
So in the event that you want to win at forex trading, overlook forex trading and exchange longer term, get the odds on your side and you might soon appreciate currency trading achievement.

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Okay, just so you know.... This is not my oppinion and I am against these comments. This is a post I found and in my standard nature I dismiss things that do not agree with me, but for one im going to comfront it....
And ask for your own oppinions,
Thanks
Leon

Leon, It Has to be composed by an idiot, who never exchanged ForEx or scalped ForEx... Scalpers make money... Good example Market Manufacturers... and of course Rainbow traders... LoL

In accordance with Peter Bain, you should only Scalp if you want a brief hair cut...