I think I have moved to a jump on the quick moves you see all day long and ride the momo, easier and might make more than previous method. Basically of the money doesn't just fall into my account is too much work for me lol
One attractive approach is to perhaps use a bot. Of course in the MetaTrader world EA's or bots have been in use forever. I've done some, but also in the JForex world there's an incredibly good API base for easy implementation of bots. I'm considering my next project as a Market Scanner, Scalp-O-Matic bot. Now, I have experience with this, and know what events to look for, but such a thing is not at all easy to make consistently profitable, even with a lot of knowledge. A real bot that makes money is never a simple bot... But getting back to the idea of exposing ourselves to the market for the shortest possible periods of time, yes that is a good idea but, on the other hand, price takes time to make significant moves. As a "human" trader, I use my platform to snap profitable trades which last only a few seconds or minutes because I agree that it is in some sense "safer" than having long term positions in the market. HyperScalper
Looking at 90% automateable, enough? Entries are easy, its when to exit, which is tricky, slower moves fine, spikes would give to much back though i fear.
Sounds like you need to have your ongoing positions intelligently managed by code on a server. Lots of possible approaches, ways to implement such a thing. HyperScalper
I'm trying for longer in the markets, make the profits more worth it, but it's never that easy, yes you can see the huge swings, but only after the event, so the longer you hold, the higher the odds of your profit going against you. But should still be able to increase 50% average profit size for the same risk and a better profit %. With a chance of holding on, when really strong to big winners.
Sounds too high tec for me and my limited budget / lazyness I'll likely go as far as a MT4 alert to sound an alarm when a entry presents itself, that'll do me.
"Scalping" means you take your trade from a 1 to 15 min chart. It does not mean you do not have to analyze higher time frames to loook for supports and resistance levels. 1minute or not, you buy on supports and sell under resistances. Scalping or not scalping. I think the main difficulties in scalping is that your have to stay in front of your computer for hours with a high level of attention, and of stress for hours. It's fine if it suits our personality but otherwise it is boring. Second is that it may be difficult to trade every pair. There are times of low liquidity that will induce some slippage on your quote and will make scalping impossible. This is why even with a broker with very low spreads -I m on tickmill- I prefer trading from higher Tfs, such as 4hr. Once I made my analysis, I just have to check the charts 2 or three times a day, and it leaves me plenty of time. I Can use .. for instance in writing this text !
But you havent got to spend all day, i spend 30mins to an hour, make some cash or not, go do something else maybe trade some more later. In that time, make a few trades, quick say $300 then walk away without a care in the world. For the same sized account, Id be lucky to take $300 in a week.
Good to know. Manual scalping is something outdated but not for fundamental traders for sure. I'm one from that camp and really believe news do shake the market and it's visible on our charts.. So move on news trading !
I and loads of others manually scalp, just because some people can't doesn't mean others aren't/can't make a living off it. I don't trade news, I trade the after effect when it's calmed down, news is to fast, to choppy for me.