Scalping Verdict
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Thread: Scalping Verdict

  1. #1
    Back when I began forex, which wasn't a long time ago, I use to scalp. I did this for a while before realizing that it was futile for me. Do not lose that much money, since I just used a bit per commerce but nevertheless lost a bit.

    Today im not going to bash scalping all together, but I'd like to find that the amount of people who actually earn money out of it. I know the whole deal, appropriate money management, ive preached it again and again, so no one has to compose a book about the fundamentals of it.

    Once I refer to scalping im speaking about 15 min charts, 5 min charts, 1 min, and even ticks. For scalping on FF, I see a lot of threads that are popular. Im sure we have all tried them on demo, or reside.

    I exchange on 4hr-weekly charts, which I find is a whole lot more profitable and saves hours.

    -Taking into account the total amount of time used for scalping vs. the period of time used for creating a couple of trades a week.
    -Knowing that longer duration S/R levels are somewhat more reliable.
    -Knowing that spread is a massive element in scalping.
    Having a life outside trading.
    And some other facts.

    : Not worth it in comparison with higher time frames.

    Arguements, strong worded risks about how I'm wrong, agreements, and comments welcome

    Oh and im going to throw at a poll to see that time frame you prefer.

  2. #2
    I'm a scalper. Nothing elaborate. Trying not to get beaten by the rat.

    Appearance, for example, at this tasteful small experiment. A rat was put in a T-shaped maze with a few morsels of food put on either the far left or right side of the enclosure. The placement of the food is randomly determined, however, the dice is rigged: over the long run, the food was placed on the left sixty per cent of the moment. Did the rat respond? It quickly understood that the left side was rewarding. Because of this, it always went to the left, which caused a 1 percent achievement rate. The rat did not strive for perfection. It did not hunt for a Unified Theory of the T-shaped maze, or attempt to decode the disorder. Rather, it accepted that the inherent uncertainty of their benefit and also learned to settle for the best possible option.

    The experiment was then repeated with Yale undergraduates. Contrary to the rat, their swollen brains stubbornly searched for the elusive pattern that determined that the placement of the reward. They made predictions and then tried to learn from their prediction mistakes. The difficulty was that there was nothing whatsoever to forecast: that the randomness was real. Since the pupils refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Even though the majority of the students were convinced they were making progress towards identifying the underlying algorithmthey were actually being outsmarted by a rat.

    P64 HOW WE DECIDE

  3. #3
    Quote Originally Posted by ;
    I am a scalper....
    Interesting how that quote relates Yale students (undergrad also ) to the whole trading people. All it proves is that trading is a skill. The science is far beyond our crude human-mind. Not random, just too difficult for our little pea brains to comprehend. We can not even comprehend the internal workings of human thoughts, let alone understand the results of what plogy (greed and fear) has on price.

    Sure many look for the formulation. Price is the inverse sum of the square root of greed straight proportionate the amount of fear. Lol yea.

    Bottom line is really the rat found that a regular pattern. It is all about patterns...

    If you can see a pattern on the 1 minute chart, harness it! If it's possible to see a pattern around the monthly chart exploit it! If it's possible to see a pattern without a chart at all, for god's sake EXPLOIT IT!!

    It is all about your interpretation.

    There are no right and wrong ways. Right is what works for you. When you're not earning money, Incorrect is.

  4. #4
    As the poll, Which time period is for?

    Where is none of the above and all of the above?

  5. #5
    Quote Originally Posted by ;
    Bottom line is that the rat found that a regular pattern. It is all about patterns...
    Sorry Mate but the rat didn't find a pattern. The rat discovered what worked best. The Yale students were searching for a pattern. The rat turned abandoned.

  6. #6
    Quote Originally Posted by ;
    As for the poll, Which time period is best?

    Where's not one of the above and All the above?
    I think that would defeat the goal of the term BEST and WHICH from the question.

    LoL, I just wanted people's most favourite.

  7. #7
    Quote Originally Posted by ;
    Sorry Mate but the rat did not find a pattern. The rat found what worked best. The Yale students were looking for a pattern. The rat just turned abandoned.
    The rat did that by recognising a recurring pattern.

    Majority of the period going to the left is a pattern. Hence the rat went left.

    It doesn't require a Yale undergrad to understand that... lol

    The quote is flawed or mis-worded. The rat recognised a pattern. The Yale students tried to find order...

  8. #8
    Ive traded long term and I can make pips but the percentage is low because I cant maintain them long enough (personal difficulty ). Scalping I'm really getting it down as of late. It's taken time to learn all I need to understand about itself to understand that I'm a scalper. I wish that I could play with those long 1000 pip plays but I am not patient enough. And that could be worth 10 percent and take a week, much more likely a couple. Now a modest scalper may make a% each day in my opinion still equaling the same as those once a month big plays. I started trading to get away from contruction 8 hour days fun stuff. I trade full time at this time but not by choice (function is slow) ohh the irony. I spend 4 hours at the longest trading london NY lap, most of the time Im done before my kids get up. After I receive my leverage upward, if things remain as they've been going, I will be averaging about 1% per day. Plenty for me. Better than 2-5% per month within a my long term egy.

  9. #9
    Quote Originally Posted by ;
    Ive traded long duration and I can make pips but the percent is low since I cant maintain them long enough (personal problem)....
    Whats your typical win and normal reduction?
    And also you win rate(percent )?

    Ballpark figure is fine if you happen to understand.

  10. #10
    Quote Originally Posted by ;
    The rat did that by recognising a recurring pattern.

    Majority of the period going to the left is a pattern. So that the rat went left.

    It doesn't take a Yale undergrad to understand ... lol

    The quote is either faulty or mis-worded. The rat recognised a pattern. The Yale students attempted to find order....
    I believe you are giving that rat way to much credit.

    Depends how you spin it. The Yale students were likely looking for the greatest win rate based on historic data. That most certainly is a pattern.

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