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Time to try something new and bring you subscribers a live trading competition with a twist.
Traders have 1.5 hours to make as much R as possible. So you pretty much need to be a scalper, and a good one at that.
Note, I’m calling this one an experiment, as it hasn’t been done before and I’m unsure how well it will fly.

I’ll be taking trades alongside my two contestants, so there should be lots of action!

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Check out the other competitors and learn their strategies here:

See standings: https://tradingnut.com/livestreams/

To apply to take part, DM Cam on Instagram here: https://www.instagram.com/tradingnut/

Scalper vs Scalper #1 - Live Trading Forex Competition, Forex Day Trader Scalper 1

Forex Day Trader Scalper 1, Scalper vs Scalper #1 – Live Trading Forex Competition.

What is considered scalping?

Ticket resale (also called ticket scalping or ticket proclaiming) is the act of marketing tickets for admission to events. Tickets are purchased from accredited sellers as well as are after that sold for a price identified by the private or company in ownership of the tickets.

Forex Scalping Dangers.

Forex scalping has danger, like all designs of trading. While earnings can gather promptly if lots of successful professions are taken, losses can also mount promptly if the trader does not recognize what they are doing or are using a flawed system. Even if taking the chance of a small amount per trade, taking lots of professions could imply a considerable drawdown if many of those professions wind up being losers.

Utilize as well as scaled up placement sizes can also posture a danger. Presume a trader has $10,000 in their account yet is using a $100,000 placement dimension. This corresponds to 10:1 leverage. Presume the trader agrees to risk five pips on each trade, as well as attempts to go out when they have a 10 pip profit.

This is a practical system, yet often the trader will not be able to go out for a five pip loss. The market might void with their stop loss factor, as well as they wind up venturing out with a 20 pip loss. This situation, called slippage, prevails around significant news announcements. For that reason, they lose four times as high as they anticipated. A few of these slippage circumstances can deplete an account promptly.

Forex scalpers call for a trading account with tiny spreads, reduced compensations, as well as the ability to publish orders at any rate. All these functions are typically only offered in ECN forex accounts. These are accounts that enable the trader to imitate a market manufacturer who can, if they pick, buy at the proposal rate as well as sell at the deal rate. Regular forex trading accounts call for retail clients to buy at the deal as well as sell at the proposal. Regular forex accounts also dissuade or do not enable scalping.

If the spread or compensations are expensive, or the rate at which a trader can trade is also restricted, the chances of the forex scalper doing well are substantially diminished.

Summary:

Forex Scalping is extremely fast-paced. If you like the activity as well as like to concentrate on one- or two-minute charts, after that Forex Scalping might be for you. If you have the personality to react promptly as well as have no compunction in taking extremely fast losses, not greater than two or three pips, after that Forex Scalping might be for you.

However if you such as to assess as well as think through each decision you make, probably you are not fit to scalp trading.

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