I can't scalp FX. For 3 months beginning end of last year, I paper traded standard lots of 100k units, 1 pair at a time, and it drove me nuts. I would be up a thousand today and down the same amount the next. I was much more comfortable trading a few pairs in micro lots (less than 10k units) and holding my positions for hours to a few days. I stopped looking at 5, 15 and 30 min charts and turned to longer time frames - monthly, weekly, daily and hourly - and traded with the primary trend instead.
2 comments:
Yep, that's why scalping the Forex is silly IMHO. But if you are going for the larger moves it isn't a big deal.
LT
I can't scalp FX. For 3 months beginning end of last year, I paper traded standard lots of 100k units, 1 pair at a time, and it drove me nuts. I would be up a thousand today and down the same amount the next. I was much more comfortable trading a few pairs in micro lots (less than 10k units) and holding my positions for hours to a few days. I stopped looking at 5, 15 and 30 min charts and turned to longer time frames - monthly, weekly, daily and hourly - and traded with the primary trend instead.
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