Let us begin with somewhat of a SELF SCREENING PROCESS for each trader to decide if they fit this basic criteria, and if so the journey begins
To Scalp or Not To Scalp?
A Beginner's Guide To Scalping In The Forex Markets
Scalping, at least in trading, is a term used to denote the "skimming" of small profits on a regular basis, by going in and out of positions several times per day. Scalping is not unlike day trading in which a trader will open a position and then close it again during the current trading session; in other words never carrying a position into another trading period or holding a position overnight. Whereas a day trader may look to take a position once or twice, or even a few times a day, scalpers are much more frenetic and try to skim really small profits multiple times in a session. And whereas a day trader may trade off the five-minute and the 30-minute charts, scalpers will often trade off of tick charts and one-minute charts. In particular, some scalpers like to try and catch the high-velocity moves that occur around the time of the release of economic data and other important news events, such as the release of the employment statistics or GDP releases if that is what is high on the economic agenda.
Why Scalp?
Scalpers like to try and scalp between five and 10 pips from each trade they make and to repeat this process over and over throughout the day. Using high leverage and making trades with just a few pips profit at a time can add up, especially if your trades are profitable and can be repeated many times over the course of the day. Remember, with one standard lot, the average value of a pip is about $10. So, for every five pips of profit made, the trader can make $50 at a time. Ten times a day, this would equal $500.
The Scalper's Personality
Scalping, though, is not for everybody, and one thing is for sure: You have to have the temperament to be a scalper. Scalpers need to "love" sitting in front of their computers for the entire session, and they need to enjoy the intense concentration that it takes to scalp. You cannot take your eye off the ball when you are trying to scalp a small move, such as five pips at a time. Even if you think you have the temperament to sit in front of the computer all day, or all night if you are an insomniac, you must be the kind of person who can react very quickly without analyzing your every move. There is no time to think. Being able to "pull the trigger" is a necessary key quality for a scalper. This is especially true in order to cut a position if it should move against you by even two or three pips.
The Pros and Cons of Scalping
Scalping is very fast paced. If you like the action and like to focus on one or two minute charts, then scalping may be for you. If you have the temperament to react quickly, and have no compunction in taking very quick losses, not more than two or three pips, then scalping may be for you.
But if you like to analyze and think through each decision you make, perhaps you are not suited to scalp.
The Difference Between Market Making and Scalping
Scalping is somewhat similar to what market makers do who trade around the spread. When a market maker buys a position he is immediately seeking to offset that position and capture the spread. Although the two types of investors serve different purposes, this is what a market maker does all day long. This is not referring to those bank traders who take proprietary positions for the bank.
The difference between a market maker and a scalper, though, is very important to understand. A market maker earns the spread, while a scalper pays the spread. So when a scalper buys on the ask and sells on the bid, he has to wait for the market to move enough to cover the spread he has just paid. In the converse, the market maker sells on the ask and buys on the bid, thus immediately gaining a pip or two as profit for making the market. Thus, the risk of a market maker compared with a scalper, although they are both seeking to be in and out of positions very quickly and very often, is much better for the market maker than the scalper. Market makers love scalpers because they trade often and they pay the spread, which means that the more the scalper trades the more the market maker will earn the one or two pips from the spread.
New traders will be directed to the original PVSRA thread to download the required templates and indicators and for study of already posted charts and PDF's; PVSRA Post #1 :
http://www.forexfactory.com/showthread.php?t=540706
This is not a PVSRA teaching/training thread. Our mission is for those that are already familiar with and trading PVSRA with the provided charts and templates to gather and share scalping and trading ideas.
Scalping PVSRA Mission Statement
As PVSRA traders we have never posted and nor will we ever post or ask for any account information. Some traders her trade demo's and/or live and we have no interest as to their account leverage or balances and trading micro, mini or standard as no one is therefore discriminated upon.
We are here as Traders Helping Traders with a proven system and pips, if either plus or minus indicates traders that are successful with the PVSRA system and those requiring additional help from other traders.
That is our MISSION, as we do post winners as well as losers not for bragging rights but to encourage new traders to begin the difficult but profitable journey of learning PVSRA and becoming successful as those that have already committed and dedicated themselves to this learning process and now reap the benefits of their dedication and hard work........
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Reference; Page #1, Post #3
Quote
I do ask that ALL TRADERS HELP MONITOR THIS THREAD so it does not get out of hand with lurkers dropping by and posting non-PVSRA system trades and non helpful comments. I will be here posting often as usual but not always and all must follow the FF Rules as to their conduct and language. We must all treat fellow traders with respect and encourage not discourage posting activity. Any references to profits and losses will be discussed in pips not money or account sizes/balances. All traders shall be respected equally with no regard to their lot size trades.
Stay GREEN My Friends!
Cigarguy
Some useful PDF reading by TAH;
01/31/2016 Current scalping/PVSRA Indicators and Cigarguy Scalping template;
Credit and a Thank You is to be given to: TAH, extraw and Ding Dong for the great indicators. As PVSRA scalpers, we are putting it all together as a scalping team.
02/02/2016 OrderOnChart EA and Scripts credit goes to extraw for his coding expertise and contribution...
![](https://resources.faireconomy.media/images/emojis/64/1f44f.png?v=14.0)
02/08/2016 OrderOnChart EA updated. There are options added to change color of buttons and texts (thanks to saiffx and rajib217).
02/20/2016 OrderOnChart v1.8 EA updated. Added Take Snapshot/buy/sell sounds and XX out lot info by rajib217.
![](https://resources.faireconomy.media/images/emojis/64/1f64c.png?v=14.0)
02/20/2016 OrderOnChart v2.5 EA updated. Misc. fixes and changes/added Limit order feature and buttons on the extra EA by extraw.
![](https://resources.faireconomy.media/images/emojis/64/1f44d.png?v=14.0)
02/23/2016 OrderOnChart v2.5 OrderLimit1 EA provided by rabib217 with voice and sound....
![](https://resources.faireconomy.media/images/emojis/64/1f44f.png?v=14.0)
03/27/2016 Easter Sunday - Cigaguy's comments regarding R/R scalping 5 pip targets Post #2240 http://www.forexfactory.com/showthre...75363&page=112
03/28/2016 Cigarguy's comment regarding the PVA candle colors with TAH's quote, Post #2282 http://www.forexfactory.com/showthre...91#post8839191
04/14/2016 USE of the CSM (Currency Strength Meter) http://www.forexfactory.com/showthre...75363&page=132
-WARNING-
USE ALL EA'S AND INDICATORS AT YOUR OWN RISK
TEST ON A DEMO ACCOUNT - A WARNING HAS BEEN ISSUED BY THE ORIGINATOR OF THE "ORDERONCHART EA ON 09/20/2016 POST #4373" THAT IT MAY AUTOMATICALLY TRADE ON YOUR ACCOUNT!!
IF YOU DOWNLOADED THIS EA--REMOVE IMMEDIATELY!
09/20/2016 ALL OrderOnChart EA's REMOVED AS REQUESTED BY (FF MEMBER EXTRA THE ORIGINATOR ) AS NON-FUNCTIONAL WITH CODING ISSUES WARNING DO NOT USE IF YOU DOWNLOADED THIS EA.....REMOVE IMMEDIATELY!!
Quoting extraws warning post below he posted on 09/20/2016;
- http://assets.forexfactory.net/nfs/c...ar265910_1.gif extraw
- | Joined Jun 2012 | Status: Member | 45 Posts | Online Now
Quoting extraw
{quote} Hi, I'm the author of OrderOnChart EA. To everybody who are using OrderOnChart EA: maybe it has a problem, please stop using it until I make sure it work OK. Thank you. STOP USING OrderOnChart EA. IT'S DANGEROUS FOR YOUR ACCOUNT.
Hi,
There is actually a problem with the OrderOnChart EA.
The old version when conflict with some indicators can auto open random orders continuously until your account balance dry out.
I suggest those who using it replace your current version with this new version immediately.
Please test the new one on Demo first before using on Real Account.
I'm not responsible for any of your lost caused by this EA. So use it on your own risk.
Thank you.
P/s: if something wrong happen to the EA, you can turn it off from all charts by clicking Auto Trading button (turn it from green to red color)
@cigarguy: please remove all older versions of OrderOnChart EA from the first post, they're not safe.
![File Type: pdf](https://assets.faireconomy.media/images/attach/pdf.gif)