Hi all before I started scalping I always wonder, is forex scalping possible? over the last 1 year plus I have tried to learn day trading methods in the system section. I started off losing but after learning just 1 setup well I started making decent profits every week. However the market became unfavorable towards that setup I have been taking. Over the next few months I then focus my energy on M5 scalping, just 2 kind of setup. So far I have been profitable over all but with 2-4 trades a week and about 60-70% win rate.(RR 0.7-1.5 each win, it is not fix)
Long hours in front of the screen(NY and London) just to take 1 trade and quite commonly no trades. In order to improve myself I must maintain strict discipline and most importantly be able to stay in front of the market everyday to learn and not to expect any trades.... That is the price I am willing to pay to be a successful day trader/scalper.
I started this thread as a way to record down my thoughts and my progress as a scalper wannabe so that I can reflect back and hopefully learn something. You are all welcome to give any advice if you have any.
Long hours in front of the screen(NY and London) just to take 1 trade and quite commonly no trades. In order to improve myself I must maintain strict discipline and most importantly be able to stay in front of the market everyday to learn and not to expect any trades.... That is the price I am willing to pay to be a successful day trader/scalper.
I started this thread as a way to record down my thoughts and my progress as a scalper wannabe so that I can reflect back and hopefully learn something. You are all welcome to give any advice if you have any.
Riding the order flow