All those who trade under the scalping modality, must be very careful not to lose their money or cryptocurrencies in the process.
Important considerations
Some considerations (when you are scalper) go through knowing how to identify the time frame under which you will be operating exactly, in order to get the most out of it and to achieve what everyone wants when they start trading, that is, to achieve that the number of winning operations that we do to be superior in quantity and importance to the number of losing trades that we open.
Why it is important to be clear about timing when you are scalper
First of all, I must clarify that it is not only when scalping, but it is the golden rule of every trader who boasts of being one, to know exactly under what modality and temporality he will operate.
That said, and speaking of scalpers, it is worth saying that they are all those traders who operate (looking for profits, logically) in very low time frames, ranging from 1 minute, 5 minutes, 10 minutes, 15 minutes, 30 minutes, etc.
If, for example, you operate in the 1-minute mode, you should orient yourself not only in this graph, but also in those of 5, 10 and 15 minutes respectively, to know or intuit more or less what the price will do. And all this, even knowing that you operate under the 1 minute scalping mode.
So watch out, don't get confused
Make no mistake, trading under the scalping mode is not as simple as many people think, because being in such low time frames, it requires a lot of attention to the price and the charts.
Therefore, it is logical to realize that being a scalper is not recommended for everyone, especially if you are very nervous, or if you are very clueless or if you cannot dedicate time to study the graphs second by second. So if you are going to dedicate yourself to trading, you must identify if scalping is your thing, or if instead you dedicate yourself to intraday trading, or any other type of trading.
So to summarize, you have to know that:
1- You must orient yourself in the temporality in which you operate and 3 temporalities above the one in which it is operated (and this applies to all trading modalities).
2- We must pay close attention to the market so that prices do not end up giving us unpleasant surprises.
3- Being a scalper is not something for everyone; Therefore, it is essential that you identify under which trading modalities you are best operating, so that you do a better trading.
This is an opinion text and not investment advice. That should be clear.
I hope you found my opinion useful and my post entertaining. See you.