Thread: Scalping strategies for Forex (how to improve and avoid common mistakes)

Hello, I want to share my scalping strategy at USD/JPY with a 1.7 pips spred.I take profits between 5-15 pips, but I don't use stop loss.If the operation goes against, I buy in the opposite direction and I hope, while I still operate to obtain small profits.Until now, I have been using this method for a week and I have obtained 110 pips for profit.

You don't use Stop Loss ... Aj�, and when the Spa eats you on a volatile day, what are you doing?That method seems like a recipe for disaster.

You mention that if the position goes against, you just turn around.How many pips or loss percentage do you consider before doing this?To be a disciplined trader, you must have good risk management techniques.

The fact that you operate without stop loss may seem risky, but if you have a clear plan about when changing direction, it could work.However, it would be good to define specific criteria, not just "wait."

How is success criticized?It sounds like that it is going well, but how do you decide where to change the direction?Do you base yourself on support and resistance levels?It seems that you have had a good week, hopefully it will become two or three weeks of profits!

How is success criticized?Easy: that of operating without stop loss will take you sooner or later to burn the account.A market does not always have to be "kind" with you.

What do you use to determine the entrance?If you do not use Stop Loss, I suppose you are climbing with secondary trends, but careful, -50 pips can easily become -350 if you don't look good.

Support and resistance levels are a fundamental tool for this type of operation.It seems successful that you rely on them.Of course, be sure to always review the general context of the market.

I let the position go against up to a maximum of 50 pips and use support and resistance levels to make decisions.Do not use mobile socks or indicators, only support and resistance levels and trend lines.Many times the operation turns around my favor.

Wow, great strategy ... until the market does not respect your "limits" of 50 pips and leaves direct 100 or 200 pips against you.Don't you worry that?