Is Scalping even viable in Cryptocurrencies?

[Stedsm]

Hello Everyone. I currently trade on Foreign Exchange Market and my preferred style is always "Scalping" which involves fast execution, and gaining advantage from short price changes.Thus, I highly rely on technical analysis rather than fundamental. I just want to know if scalping is practical in the crypto world.

It's better if you check for the fees you'll be charged on both maker/taker side before starting with scalping crypto. One of my friends does that and he makes good amount of money but for him to be able to do that, he needs to look for sure trades which will give him both, his fees that will get deducted on both ends once he opens/closes trade in 5-10 minutes and the profit over it. Assuming that your profit margin is not too big, you can set targets where you want to close your position and then you can quickly close your position.

[noorammak]

I think yes because the volatility of the cryptocurrency market is quite high and the transaction costs can be drastically reduced if you use a trading platform with good fees.
Binance is one of the cryptocurrency exchanges with hierarchical transaction costs, they also have futures trading. So these will be favorable conditions for Scalping traders.

[fullhdpixel]

It's better if you check for the fees you'll be charged on both maker/taker side before starting with scalping crypto. One of my friends does that and he makes good amount of money but for him to be able to do that, he needs to look for sure trades which will give him both, his fees that will get deducted on both ends once he opens/closes trade in 5-10 minutes and the profit over it. Assuming that your profit margin is not too big, you can set targets where you want to close your position and then you can quickly close your position.

I guess these days there are few solutions available for higher exchange fees; before exchanges followed volume based discount for traders but nowadays most of the exchanges are having their own tokens/coins and when we are paying with them then we can get less fees. Still, I agree if scalping is not producing slightly bigger profits then exchange fees then there will be no meaning of getting into it.

I tried scalping before but concluded long term trading is better and convent in both profit levels and stress-free way of trading. Scalping requires lots of hours to sit in front of computers hence it may not be suitable for those day-job goers.

[Stedsm]

--snip--

I tried scalping before but concluded long term trading is better and convent in both profit levels and stress-free way of trading. Scalping requires lots of hours to sit in front of computers hence it may not be suitable for those day-job goers.

I'd give you an example of not too far ago.
Just a week back, BAKE (BakerySwap) tokens were on their dip with BTC falling, and they were being sold for $1 each. Today it went high as much as $7.45 a few hours ago which makes it to over 7.45x on a week hodl. Do you really think scalping can give you such huge returns? There are many more examples like this one but I don't want to make it an altcoin related post.

I'm neither endorsing any coin nor asking anybody to invest in it now, it's just an example I gave to compare it to how scalping works and how much profits can it give, because in scalping, a trader looks for zero losses with a bit of profits in least times (in like 5-10 minutes trade) and it won't give you any major profits because you try to make an ocean with drops of water and that's not possible.

[Oilacris]

Hello Everyone. I currently trade on Foreign Exchange Market and my preferred style is always "Scalping" which involves fast execution, and gaining advantage from short price changes.Thus, I highly rely on technical analysis rather than fundamental. I just want to know if scalping is practical in the crypto world.

It's better if you check for the fees you'll be charged on both maker/taker side before starting with scalping crypto. One of my friends does that and he makes good amount of money but for him to be able to do that, he needs to look for sure trades which will give him both, his fees that will get deducted on both ends once he opens/closes trade in 5-10 minutes and the profit over it. Assuming that your profit margin is not too big, you can set targets where you want to close your position and then you can quickly close your position.

One of the considerations when you do tend to scalp is to mind off about the fees but taker/maker arent really deducting that big and one of the common concern would be rather into those withdrawal fees though.

It does depend on how much you had make use as a capital or on how big you do make on each positions that you do have and about the question if its still viable then of course it is

just depending on how you do it and not all traders are really that good on doing this because you would need to deal with active movement of prices.

[martina14]

Hello Everyone. I currently trade on Foreign Exchange Market and my preferred style is always "Scalping" which involves fast execution, and gaining advantage from short price changes.Thus, I highly rely on technical analysis rather than fundamental. I just want to know if scalping is practical in the crypto world.

Scalping is good if you know well how to manage it properly dude, but if not, I suggest you not to implement it in your trading activity, due to for sure you will end up only for loosing your assets. Meaning, it could be bad or good depending in your skills or knowledge. Therefore, scalping is viable for the experts only.

[LUCKMCFLY]

Hello Everyone. I currently trade on Foreign Exchange Market and my preferred style is always "Scalping" which involves fast execution, and gaining advantage from short price changes.Thus, I highly rely on technical analysis rather than fundamental. I just want to know if scalping is practical in the crypto world.

Scalping is good if you know well how to manage it properly dude, but if not, I suggest you not to implement it in your trading activity, due to for sure you will end up only for loosing your assets. Meaning, it could be bad or good depending in your skills or knowledge. Therefore, scalping is viable for the experts only.

The bitcoin market is much more volatile than any other, anything is possible to happen, although the technical analysis usually fails 80% if you do not have the proper criteria, it may be that with "scalping" you can lose everything if you analyze the market with the same forex techniques, stock market, because the logic of cryptocurrencies and bitcoin is very different.

I would not venture into "SCALPING" in a market where I do not know it, I advise you first to read a lot about the logic of cryptocurrencies, what affects them, and what movements you should be careful, such as if you enter an altcoin you should First check the price of Bitcoin and analyze it because all the Altcoins depend on Bitcoin.

[EiKaGlaShPriSAThWEl]

Hello Everyone. I currently trade on Foreign Exchange Market and my preferred style is always "Scalping" which involves fast execution, and gaining advantage from short price changes.Thus, I highly rely on technical analysis rather than fundamental. I just want to know if scalping is practical in the crypto world.

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.

[CryptopreneurBrainboss]

Can't imagine someone having money on coinbase/gemini/kraken and binance could do this?

They can especially on Binance, anyone with the knowledge could scalp newly listed tokens and come out successful only if all the decisions he/she takes favours them. Why I'm not a huge fan of scalping is the disadvantages of losing all or almost all the profits your have tried accumulating over the period of trade for the day.

It's fine when you're profiting but becomes ugly when you're losing. Instead of scalping you can simply swing trade. Investing is another profitable strategy to embark on in the industry, it has less risk and higher reward compared to other strategies out there.

[blockman]

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.

[wahyu wida]

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

[jerry0]

Can't imagine someone having money on coinbase/gemini/kraken and binance could do this?

They can especially on Binance, anyone with the knowledge could scalp newly listed tokens and come out successful only if all the decisions he/she takes favours them. Why I'm not a huge fan of scalping is the disadvantages of losing all or almost all the profits your have tried accumulating over the period of trade for the day.

It's fine when you're profiting but becomes ugly when you're losing. Instead of scalping you can simply swing trade. Investing is another profitable strategy to embark on in the industry, it has less risk and higher reward compared to other strategies out there.

You mean binance.com or binance.US?  So you do it on binance but the other exchange would be which ones?  The US ones i listed such as coinbase/gemini/kraken or other ones?  Got to assume its not that popular ones.

[blockman]

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

Yes, you can add that for making sure that you'll be able to reach those limits that you set. But it's still needed your time to be focused with as you follow the market.
And you're going to be hands on with your trades and that's what trading really is. You're better checking it from time to time and if you have dedicated time doing it.

[Fredomago]

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.

[TheGreatPython]

Scalping is good if you know well how to manage it properly dude, but if not, I suggest you not to implement it in your trading activity, due to for sure you will end up only for loosing your assets. Meaning, it could be bad or good depending in your skills or knowledge. Therefore, scalping is viable for the experts only.

I don't think anything there in scalping strategy to manage properly because it is kind of quick buying and selling and cannot make use of any strategy due to lack of time to take proper decisions. In my opinion, scalping is nothing but blind way of trading. Moreover it can be compared with the way of gambling.

Yeah, scalping is just a way of gambling to test your luck factor. If your trying for 100 times, and if you are able to hit profits for at least 50 times then I guess you can end up your day in profits with scalping strategy given that you are paying least to no fees to exchange/broker (I heard some exchanges are offering huge discounts when you show good monthly volume).

[AakZaki]

As I am unable to make quick trading, I guess scalping is not my cup of tea. I'm just preferring to analyze market slowly and then taking decisions on my own time so that I will not be missing out on anything. This way I am very much comfortable with long-term holding kind of bitcoin trading.

Even I'm good at technical analysis, I'm not in hurry to make more number of trades. I believe being slow while making trading decisions is helping me to avoid any unexpected mistakes which are core reason for losses.

everyone has their own strategy, some are really happy with the scalping method using a 5M -15M Time Frame and there are some people who have slow trading strategies or with a more relaxed tempo, above the 15M Time Frame.

I actually don't always use scalping methods, but only under certain conditions. All the strategies I use, the most important thing is to generate profits in every transaction.

[beerlover]

everyone has their own strategy, some are really happy with the scalping method using a 5M -15M Time Frame and there are some people who have slow trading strategies or with a more relaxed tempo, above the 15M Time Frame.

I actually don't always use scalping methods, but only under certain conditions. All the strategies I use, the most important thing is to generate profits in every transaction.

I believe only over the course of experience traders will be able to make use of all kind of strategies because I tried to have multiple strategies in the beginning days of trading but none of them were profitable for me and then I switched over to only long term holding and I never tried scalping in my life. I am just afraid of all short term trading strategies.

I am honestly comfortable with my long term holding not just with bitcoin but these days I'm making good profits along with my dogecoin holding as well .

[Desmong]

Well scalping is another different way to make small dollars in the financial market but when it comes to  crypto, there is a little differences. When it come spread, it quite Wilder when compared to currency and pips calculation is also different because of the value when compared to price.
So you will need to adjust some certain things when it comes to trading Crypto.

[mamahdedeh]

with scalping we will get a lot of profit in a fast tempo. but to achieve that result I think we must have high skills about scalping. with scalping we must be more disciplined and use high concentration, because it takes advantage of small opportunities to find cuan

[electronicash]

it's viable but this is if you are up to grab thousands of the coins to which you also need to have more than millions of them. this is why doge was a good coin to trade back in the days when its price was less than a cent.

one could probably accumulate more millions of doge that time on the 5minute chart when you just know how to read the charts. but if you don't have enough capital to do this, might just do the leverage trading.