There are some day traders who go in for Currency exchange scalping trading many times each day and making an attempt to get out with tiny profits that may add up over time. Well firstly, it does not work at all and will doom your trading to failure Any trader who day trades or attempts to scalp profits loses PERIOD.
If you're studying charts you want to get the chances in your favour. This is naturally not likely in day trading as all volatility is random and costs can and do go anywhere. This is visible when you have millions of folks trading trillions of bucks daily.
If you do not have data that will help you get the percentages in your favour then it is useless applying any technical indicator. Moving averages, support and resistance and pivot points which are helpful tools for longer term trading simply do not work in day trading.
Scalping the market is condemned to failure and it is made even worse by the fact it ignores the fundamental rule of investing:. Lots of tiny profits ( and when your fortunate enough to have a winner and it's down to luck ) then you get a minor profits which can NEVER cover your losses. Foreign exchange scalping end up not with the trader scalping regular profits but the trader getting scalped for his whole equity.
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