Hi all,
I am currently scalping the forex market, in pretty much the smallest timeframe i.e. tick chart. (on forex a 5 tick on one feed may not be same as another).
Thing is most places I go and traders I know who are successful seem to be doing scalping with high probability - high win rate.
I've traded successfully for a month - profitable daily but my strategy is more reliant on catching bigger winners - keeping losers small as possible. So even though hit rate is 50/50 or even less, my winners outweigh losers and I'm profitable.
Some days I take ~10 pips others ~20 pips.
If anyone has read Doug Zalesky's article - 25 rules to trading success- he mentions he has 30/30/30 win/loss/Breakeven. I think I am like him, though i think he may be slightly longer timeframe than I.
I guess I am a little confused, maybe lacking confidence, or feel alone... because no one "I know" has a strategy like mine. Not that I know many ppl...
I would prefer if some successful scalpers would come and answer my question:
Am I doing this right? Are there others who scalp successfully for many years, like this?
Thankyou![Smile :) :)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
I am currently scalping the forex market, in pretty much the smallest timeframe i.e. tick chart. (on forex a 5 tick on one feed may not be same as another).
Thing is most places I go and traders I know who are successful seem to be doing scalping with high probability - high win rate.
I've traded successfully for a month - profitable daily but my strategy is more reliant on catching bigger winners - keeping losers small as possible. So even though hit rate is 50/50 or even less, my winners outweigh losers and I'm profitable.
Some days I take ~10 pips others ~20 pips.
If anyone has read Doug Zalesky's article - 25 rules to trading success- he mentions he has 30/30/30 win/loss/Breakeven. I think I am like him, though i think he may be slightly longer timeframe than I.
I guess I am a little confused, maybe lacking confidence, or feel alone... because no one "I know" has a strategy like mine. Not that I know many ppl...
I would prefer if some successful scalpers would come and answer my question:
Am I doing this right? Are there others who scalp successfully for many years, like this?
Thankyou