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Questions and StoriesCategory: QuestionsHow Many of You Scalp the Daily Chart in Forex Market?
Eric asked 2 months ago

How Many of You Scalp the Daily Chart in Forex Market?

Any active Forex traders who scalp from the Daily Charts using EOD strategy? How is it working for you and are you getting consistent profitability? Pros/Cons? Strategy?

20 Answers
Nnaemeka Victor answered 2 months ago

Scalping on daily chart could be very stressful. I have not tried it and will not try it

Edward Duffy answered 2 months ago

I would rather master the daily timeframe before I even look at scalping. I also have a job at present and don’t have the time to devote to it.

Kenneth Ogbonnaya answered 2 months ago

I have used scalping before, it does not work.

Eli Davis Keinamura answered 2 months ago

Even before I saw luckscout,I never used to scalp.scalp is just no sense.you have to muster candlestick and bollingger  bands.money will flow to your bank aCcount .

Gareth White answered 2 months ago

Eric – by EOD do you mean End of Day? Taking the closing price and then setting a TP & SL in both directions or closing candle trend ? Need a bit more explanation of the strategy you are asking about

Eric replied 1 month ago

Yes, end of day and exactly how you described it!!

David Matlala answered 1 month ago

I’ve never used scalping… and I understand it is a difficult and tedious job.

Leno Jean Pierre answered 1 month ago

Scalping is very stressful and must have time to stay on your computer To analyse the market. You must also master lot of things (Market sychology ; Support and resistance levels, trends, price action etc…
I trade daily and weekly time frame.

Eric replied 1 month ago

Yes, I want to devote my time to the daily and weekly time Frames.

Leno Jean Pierre answered 1 month ago

I don’t scalp for now, it requires more time on your computer or phone and best good understanding of the market.you must have lot of experience identify strong pattern on time. I prefer higher time like daily, monthly etc…

Kenneth Ogbonnaya answered 1 month ago

Scalping is gambling in forex. It is not trading neither investment .

Gareth White answered 1 month ago

Scalping does have its place but it is a real skill. You have to have the right mindset and practise practise practise. I have a friend who consistently makes great returns every single day but I cannot seem to replicate his strategy.

Ahmad Khasan answered 1 month ago

I have never trade the daily chart. Usually I scalp the EUR/USD 5-minute chart.

Leno Jean Pierre answered 1 month ago

I don’t do scalping but I will do it in near future if l Master trading as a professional trader.

Gareth White answered 1 month ago

fdk191503 do you use a particular scalping strategy?

Eli Davis Keinamura answered 1 month ago

If one is to do sclaping,you have to at least follow the direction of weekly,daily and 4 hr  time frame, but if you sclap in opposite direction the probability of success become low

Jackson Mugarura answered 1 month ago

If find it very stressing and misleading, it may not give you a clear picture to guide successfully.

Jackson Mugarura answered 1 month ago

I’m currently not trading, but I don’t encouraging anyone to use this EOD. It’s better to monthly, I’m told EOD can only get you into losses.

Kenneth Ogbonnaya answered 1 month ago

Scalping is gambling while trading

Nnaemeka Victor answered 1 month ago

I SINCERELY ADVISE AGAINST SCALPING ON ANY TIME FRAME BECAUSE YOU CAN NEVER BE A CONSISTENTLY PROFITABLE TRADER THROUGH SCALPING.

Leno Jean Pierre answered 4 weeks ago

Sometimes scalping is too risky if you don’t Master property the scalping strategy.

Leno Jean Pierre answered 3 weeks ago

Many people are making millions of dollars through scalping, it is a matter of knowledge ,good strategy and experience.

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