As for my trading performance this week, I am a little disappointed. I had 52 trades. 35 winners 17 losers for 68% win percent. I had a couple of discipline lapses, but I netted 48 pips. Made a decent weeks pay. Have to really focus next week and ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Hi Dial. Sorry I didn't get to reply to your post sooner. Well basically at the present time I primarily use 1 & 5 min. charts. 95% of my trades are in the eurusd. I use EMA 10 & 20. Watch for a cross on both time frames. Try to trade with the short ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Thanks Jim. A good analogy to my type of trading would be like a baseball hitter. I like to hit a lot of singles, doubles and some tripples and bat for a high average. When you go for a lot of home runs you strike out a lot any many times have a ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Ho, this discussion is about scalping and ultra-short-term daytrading in FOREX, not the stock index futures. Yes I know, I use to daytrade the ES, NQ, YM. Ther are some brokers who allow you to daytrade the indexes with $500-$1000 margin per mini ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Yes especially when you hit 75-80% of them and trade some decent size. The pips add up to a nice payday. And you can sleep at night without thinking about some MM taking out your stop. Even hitting 5-10 pipers adds up. JohnFX

Mathematical reasons why MOST DayTraders & scalpers fail?

Thanks Highway. If this guy is trading a real money account, then it appears he knows what he is doing. And yes, Discipline is very important when scalping just like in any style of trading. JohnFX

Mathematical reasons why MOST DayTraders & scalpers fail?

Thanks Don. I primarily trade the NY session, starting around 8:00 AM. I am located on the east coast (near Boston). Once and a while I will trade the London session, especially if ther is an important data release. I want to reiterate, that I'm not ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Ho, I'm not quite sure what you mean. But, with a 'real-money mini" account at interBankFX they give you up to 200:1 leverage and they will auto-liquidate you if your margin drops below 50% of the minimum required. Now I never leverage more than ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Suicidal?? No. $50 a pip. less than 100:1 leverage. For scalping purposes it's fine if you use a tight stop and a reasonable target. That's what scalping is all about. Read the previous posts. May not be for everyone. You have to know what you are ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Those who prohibit scalping IMO, I don't consider true brokers. They are the basic retail market maker. Simple, if one wants to scalp, stay away from those greedy thieves. Use a true broker that routes your order into the interbank system. Thanks; ...

Mathematical reasons why MOST DayTraders & scalpers fail?

How about this math: 5 trades for the day. 4 winners and 1 looser. (winners: 4 * 5 pips * 50 mini lots = $1000) (loosers: 1 * 10 pips * 50 mini lots =$500) $1000 - $500 = $500 net profit for the day. I have no problem trading 50 mini lots with a 6K ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Yes using InterbankFX was my first step to greatly improving my scalping. I've had FXCM and Gain (forex.com). Forget about trying to scalp with them. You have to have a broker that routes your order directly into the interbank system and of course a ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Well guys I am a professional FOREX scalper. I disagree with all of you. Yes scalping can be a way to quickly lose your account IF YOU DON"T NOW HOW TO SCALP. Well I have learned how to scalp properly and am doing quite well at it and intend to ...

Mathematical reasons why MOST DayTraders & scalpers fail?

Might be a good idea not to have Cams in the up-coming chat room if there are any FF members who are Flashers. JohnFX

looking for flash based mini account

I would also like to ad that Tick Charts are only used on an Intra-day basis. They are popular for very short term trading. Many stock index daytraders/scalpers use tick charts. JohnFX

what is tick data?

Well each tick represents and actual trade. Not necessarily always a 1 pip movement from trade to trade. And yes, I would agree that small bars on a tick chart (depending on the tick setting) would indicate a narrow range or consolidation. Hope that ...

what is tick data?

Actually pretty simple. With a Tick chart, a bar is created every "so-many" price ticks occur instead of a bar being created in time increments, such as 5 min. 15 min. etc. Example: with a 144 tick chart setting a new bar would be created every time ...

what is tick data?

Yeah James, I used to also daytrade stock index futures. I learned that it usually wasn't worth it trying to trade between 12:00 - 2:00 PM (ET) when volume dropped way down, because of lunch time. The locals are like sharks just waiting to chomp on ...

How do forumites trade in choppy waters

Drrock sorry I accidently replied as a quote to your post. I only meant to post a general opinion to this thread. JohnFX

How do forumites trade in choppy waters

IMO, if it's a choppy market with low volume, it's very hard to make money trading on a short term basis. A lot of the chop is created by dealers and MM's just taking out the stops of daytraders, scalpers atempting to make a few pips. If you're ...

How do forumites trade in choppy waters