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For the past year, I've been following Al's teachings, pursuing swing and trend trading while avoiding scalping. I've never worried about risk because I've kept my positions very small, consistently practicing with small positions. I spend many hours each day watching forex charts, yet I've made very few good trades.
When I open my charts every day, this is what I see
I‘m living in Perth, Australia, I can't trade Emini during our night hours, but during daytime here, forex activity is very low. I have no choice but to scalp. I really want to make successful swing trades, but after watching charts day after day, I feel exhausted. I can't sit in front of my computer all day waiting for a swing setup. The best I can manage is trading continuously for 2 hours before needing a break.
I wonder if my situation also falls under what Al refers to as "beginners scalping because they fear risk"?
Hi Saiyang, what about Gold, Nikkei, Hang Seng or AUD/USD USD/JPY (especially when there are news in Japan and Australia)? They all offer good swing opportunities during the asian session in my opinion. And in your evening Dax or FTSE as well
Hey Saiyang, I get what you mean I'm from India so trading E-mini is pretty tough for me and forex like EURUSD range is very small as well. I only look to trade XAUUSD it has good range all 3 sessions.
my opinion About scalping, If you are really confident that you have nothing extra to learn in swing trading you should try scalping with a demo account before trying to scalp with real money.
Thank you for your advise, my Indian friend. I will add XAUUSD to my watchlist and practice with very small positions.
The issue is "with beginners" and not with scalping. Swing trading vs scalping is dependent on what the market is doing. In a trading range environment, swing trading doesn't work -> this is market dependent state.
Because of the fear of loss, many may scalp to avoid risk. In trading, there isn't any "avoiding risk" but managing it. Scalping successfully requires determining higher probability and this requires a foundation to recognize when there is a bias, which beginners are often unable to do reliably, as that takes skill and practice.
The recognition of higher probability over time is more difficult and requires more patience than swing trading. Some personalities gravitate more towards one than the other.
Therefore, the technique is market dependent, and the skillset of capability (swing/scalp/both) is trader dependent. Both aspects must be satisfied for success. So the question becomes skill level, and what market suits that during the window of opportunity.
Good trades to you!
Thank you sincerely for your reply. I've always avoided scalping trades. I deeply respect the advice of skilled traders—just like how experienced drivers never speed while beginners do. This principle is deeply ingrained in my mind. If becoming a experienced trader requires learning scalping as well, then I'll practice scalping when the market is trading in a range.
