Warning:
I don’t recommend scalping for the retail traders because the transaction cost will eat up most of your profits.
And you’re slower than the machines which put you at a major disadvantage.
Still, if you want to learn more, then read on…
Scalping is a very short-term strategy where you’ll hold trades minutes or even seconds.
As a scalper, your concern with what the market is doing now and how you can take advantage of it.
The main tool y
ou’ll use to trade is order flow (which shows you the buy and sell orders in the market).
An example:
Now, let’s discuss the pros and cons of scalping…
The pros
- Have lots of trading opportunities each day
- Can make a healthy income from trading
The cons
- High financial cost (paying your software, newsfeed, connection, and etc.)
- Glued to the screen for many hours a day
- It’s a highly stressful endeavor
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