Post
Topic
Board Trading Discussion
Re: Is Scalping even viable in Cryptocurrencies?
by
Fredomago
on 02/05/2021, 19:43:43 UTC
To be honest I want to try scalping now so I have the same concern as you. But when I conducted research about its advantage and disadvantages, it will require me to monitor the market every minute because I may missed the price rise. In addition, emotions must also be set aside because it may affect in the way of making sensible, logical decisions. I also asked someone, he said it still requires analysis.
That's really a requirement when you are doing scalping. You must be there from time to time to monitor the prices. Because if you don't do that, you're not scalping but instead you're just positioning.
But regardless what we call it, do the strategy that will make you comfortable and at the same time profitable.
scalping does require special attention. but we can place take profit and stop loss if it is not in front of the chart. and as long as I do, I only see the formation of candles every hour, so I can still do other activities without having to think about the market
If you have an established system and you understand well what you are doing, it's good to have this feature in order to do something outside from your trading acivities.

It's good to have this knowledge as trading always a matter of timing and good analysis, with your anticipation and whatever pattern that you'll using, placing your stop loss gives you the trigger that you are aiming.

Risky for those who don't have the knowledge since there's heavy volatility that you need to anticipate.