Scalping profitable?

[Fast Eddy]

That's interesting. How did you keep track of your cost basis assuming you had more than one account trading both ways. Did you have "quant" guys programming it? Should I PM you?

 

[FulcrumTrader]

That's interesting. How did you keep track of your cost basis assuming you had more than one account trading both ways. Did you have "quant" guys programming it? Should I PM you?

Each account tracks the cost basis for the positions managed in that account. Each directional trade entry signal is managed as a stand alone trade, even though other active trades are managed in other accounts. The separate pieces of the trades within trades are all managed separately, but compared together for overall running P&L.

No "quant" guys need, fortunately.

 

[SanMiguel]

What do you class as scalping? Some people call scalps 20pips here and there

 

[oildaytrader]

Please read this post before voting.

Ok, this thread might seem on the face of it to be the cry of someone in desperation (you've seen those threads posted hundreds of times) but a couple of months ago I decided to stop wasting time (and money) trying to scalp and stick to swing trading (my account has had a healthier disposition since). And I've seen many, many scalpers come and go since starting day trading. (I do, however, believe it is possible to scalp profitably and consistently.)

This is really, therefore, for the newbies who are embarking on their trading journey. A chance to see if they are wasting their time and partly because someone mentioned in a private conversation that scalping as a retail trader was very difficult to remain profitable on a consistent basis. Let's make this the definitive poll.

And so, to answer the poll you will have been scalping (or attempting to scalp for at least two years). I don't care about exact techniques. I am not interested in your strategy. And the poll voting is anonymous. Please only reply if you have been scalping (or attempting to scalp) for two years minimum to avoid skewing the results.

Definition: By scalping, I simply mean that you hold trades for anything from a second to a couple of minutes, rather than the true definition of scalping.

Scalping is highly profitable for some You get an average volatility of 15 pips per every 15 minute per most currency pairs.if trading 4 to 5 pairs you have a potential to make 60 pips per every 15 minutes , or 240 pips per hour or 2400 pips per 10 hour stint.You cant make that type of money from swing trading.

It is easy to make 200 pips a day consistently from scaling.You need knowledge,skill,balls, mental attitude to losing and winning and money to scalp with confidence.Knowledge comes after reading and applying , skills come with practise on demo and live accounts, balls come after getting battered by the market , mental attitude is gained from slugging it out and eliminating fear,and money comes from your deep pockets.With these attributes one can make 200 pips daily , day in day out without losing days.

I have a set up of 6 trading screens watching 18 currency pairs, all watching for scalping opportunities for mercenary trading.

Here scalpers made 8,000 % a year.

http://hubpages.com/hub/Expert-advisors-making-8-000-per-annum

 

[foroom lluzers]

oops.

Got the numbers wrong:

many people think if you make 20-30% a year that you are doing brilliantly well. Many here will make 50-100% per month. It is not a methodology you could apply to large amounts of capital such as fund trading but for individuals accounts it cannot be bettered.

that is really superb.

And true enough.

Remember this after all:

55000 % in one month !

55000 % l o l

 

[Kuznec]

55K for one month and bankruptcy in the next. One month is not an indicator, you need a longer distance of successful bidding.

 

[wisefoolx]

I think the problem with scalping isn't that it can't be done but that it is difficult to sustain year on year.

 

[foroom lluzers]

55K for one month and bankruptcy in the next. One month is not an indicator, you need a longer distance of successful bidding.

He is a legend here .