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The Definitive Guide to Scalping

This is a discussion on The Definitive Guide to Scalping within the Trading Systems forums, part of the Trading Forum category; Trend scalp - Trend scalp indicator is on this post . - Trend scalp_v1 indicator is on this post . ...

          
   
  1. #21
    Administrator newdigital's Avatar
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    Trend scalp
    - Trend scalp indicator is on this post.
    - Trend scalp_v1 indicator is on this post. This is MTF version with ability to plot the color levels

    Trend Scalp Hacolt trading system is on this post.

    Scalping thread is here.
    The Definitive Guide to Scalping thread is here.
    mr.green likes this.
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  2. #22
    Senior Member ForeCastle's Avatar
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    The Definitive Guide to Scalping, Part 8: Risk Management

    Talking Points

    • Risk management should be considered prior to entering into a trade
    • Never risk more that 1% of your balance on any single trade idea
    • Stop trading if losses amount to more than 5% in one trading day

    The final lesson scalpers must learn is probably the most important, risk management. The decision on how to manage risk can have a great impact on the bottom line of your account than deciding where your entry orders should go or even what time frame to trade on.

    GBPCAD Early Morning Breakout




    Stop Placement

    The first key to risk management is to identify a key level of support and resistance. This can be done through a variety of methods mentioned in the 4th installment of the Definitive Guide to Forex Scalping. Once found, regardless if you are trading retracements, breakouts, or ranges will have a definitive area to place your stop. In the event you are looking to buy a currency pair, risk should be managed underneath a line of support. Conversely, if a trader is selling a currency pair, risk should be managed above a level of resistance.

    Traders should also consider how close to these lines of support and resistance to place their stop. Aggressive traders can set their stop very close to these values to close losing positions as quickly as possible. This is opposed to a more conservative approach where stops would be placed further away to allow positions more space to breath.

    When it comes to placing stops it is important to remember that each traders strategy and risk tolerances will be different! But regardless of your choices, always scalp with a stop. Now letís look at a few other rules scalpers should remember.


    The 1% Rule

    While no one wants to experience a loss on their account, it is an inevitable part of scalping. Because of this, it is always important to have a plan of action to manage risk before entering into a trade. While placing a stop is important, traders should also consider the 1% rule. This means that traders should never risk more than 1% of their account balance on any one trading idea. That means using the math above, if you are trading a $10,000 account you should never risk more than $100 on any one positions.

    The 1% rule can also be coupled with a favorable risk reward ratio. Using a 1:2 setting, this means if we risk 1% in the event of a loss, at minimum we should look to close our trades out for a 2% profit. This would translate into a $200 profit on a $10,000 account balance. Now that you are familiar with the 1% rule, letís look at our next risk management tip.


    The 5% Rule

    While no one wants to lose 1% of their account balance on any one trade idea, it is also beneficial to review the maximum exposure you have for your TOTAL account balance. The 5% rule reminds scalpers to never have more than 5% of their total account balance at risk across all trades. I also recommend this as a final cutoff point for trading. Meaning if you lose more than 5% in one day, it is probably best to call it quits and look to pick up trading again when the market is more favorable.

    To put this into perspective a scalper with a starting balance of $10,000 on 5 consecutive open positions, at 1% risk per trade , your balance would still have $9500 remaining at the end of the day. This is critical because even on your worst day, you can still come back tomorrow and pick up your trading strategy! Also this rule can prevent revenge trading and accruing even more losses.




    ---Written by Walker England, Trading Instructor


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  3. #23
    Administrator newdigital's Avatar
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    Asctrend Scalping Informational Template

    This is template for M5 which I used to estimate the market condition on the way about the following: will I trade today by scalping, or not.
    We can use this template for trading as well.

    Indicators and template are attached.

    The Definitive Guide to Scalping-eurusd-m5-alpari-limited-2.png



    The Definitive Guide to Scalping-usdchf-m5-alpari-limited.png

    Attached Files Attached Files
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  4. #24
    Senior Member ForeCastle's Avatar
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    Januaryís $10,000 Challenge Winner

    FXCM and DailyFX are happy to announce the winners of our first $10,000 Monthly Challenge for the 2016 trading year! January’s $10,000 contest proved to be one of the most exciting yet with two close finishes. Only one percentage point separated our second (Georgi C.) and third (Jessica F.) place finishers as well as our fourth and fifth place contestants. Our winner Phong V. however stood out among a field of tens of thousands of contestants to become our new Challenge winner! Congratulations to all of our winners and participants for the month of January!




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  5. #25
    Administrator newdigital's Avatar
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    Uni Absolute Scalping trading system is on this page.

    The Definitive Guide to Scalping-uniscalp.gif


    The Definitive Guide to Scalping-eurusd-m1-alpari-limited.png
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  6. #26
    Administrator newdigital's Avatar
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    TickScalper EA

    Premium section story: TickScalper EA

    The Definitive Guide to Scalping-tick_mt2008.gif


    This week:

    - EURUSD : 26 pips, or 2.60 dollars
    - USDCHF : 29 pips, or 6.53 dollars
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  7. #27
    Senior Member ArticleMan's Avatar
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    Scalping

    Scalping

    The Definitive Guide to Scalping-scalping1.png


    All the ins and outs on scalping the Forex market. May Chris dives into the world of Scalping where he explains in great detail how this style of trading can be accomplished in the Forex market. This live webinar not only clarifies how a trader can scalp but also provides every Forex trader with a great guidance and extra tips.

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  8. #28
    Senior Member ForeCastle's Avatar
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    EUR/USD Turns Lower on Lackluster NFP Data

    The EUR/USD continues to trade lower despite the release of lackluster NFP figures. Today’s NFP release was expected at +175k, and was released at +161k an actual. The big surprise on the day was a revision of September’s employment figures to 191k. This revision was up from the reported 156K, causing US Dollar based pairs to rally.

    Technically, the EUR/USD may be seen below being rejected from a 50% Fibonacci retracement value at 1.1108. This line has been acting as resistance now for three consecutive sessions, and is measured by taking the distance between the August 18th high at 1.1366 and the current October low of 1.0850. If prices continue to trade below this value, traders may see this rejection as the resumption of an ongoing 4th quarter downtrend. However if prices can break above this point, it may solidify a broader EUR/USD retracement.

    EUR/USD, Daily

    The Definitive Guide to Scalping-eurusd-d1-metaquotes-software-corp.png


    The Definitive Guide to Scalping-eurusd-m5-metaquotes-software-corp.png



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  9. #29
    Senior Member ForeCastle's Avatar
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    EUR/USD Trades to New 2017 Highs

    The EUR/USD has started Mondays trading pushing to new 2017 highs at 1.0754. With today’s rally, the EUR/USD has now risen as much as 414 pips from the current 2017 low at 1.0340. Technically the pair remains bullish in the short term, as the EUR/USD remains trading above its 10 day EMA (exponential moving average). This line is currently acting as short-term support for the pair and found at 1.0647.

    The Definitive Guide to Scalping-eurusd-h4-metaquotes-software-corp-2.png


    On a longer-term basis, the EUR/USD is still arguably in a downtrend as the pair trades below its 200-day MVA (Simple Moving Average). While the 200-day average at 1.1022 remains a critical point of resistance, traders will next look for the EUR/USD to clear the December 8 high at 1.0873. Failure to trade beyond this point would help classify this short-term bull run as a retracement in an otherwise downtrend.

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  10. #30
    Senior Member RelatedHugo's Avatar
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    Forex Price Action Scalping

    Forex Price Action Scalping: an in-depth look into the field of professional scalping

    The Definitive Guide to Scalping-scalping1.png


    Forex Price Action Scalping provides a unique look into the field of professional scalping. Packed with countless charts, this extensive guide on intraday tactics takes the reader straight into the heart of short-term speculation. The book is written to accommodate all aspiring traders who aim to go professional and who want to prepare themselves as thoroughly as possible for the task ahead. Few books have been published, if any, that take the matter of scalping to such a fine and detailed level as does Forex Price Action Scalping. Hundreds of setups, entries and exits (all to the pip) and price action principles are discussed in full detail, along with the notorious issues on the psychological side of the job, as well as the highly important but often overlooked aspects of clever accounting. The book, counting 358 pages, opens up a wealth of information and shares insights and techniques that are simply invaluable to any scalper who is serious about his trading.

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