Scalping can be profitable, but you should keep in mind transaction costs.
If you scalp 5 pips and spread is 1 pip then 20% goes to transaction costs.
If you swing trade 50 pips and spread is 1 pip then 2% goes to transaction costs.
In theory you can make more money as scalper, because the potential is there to "catch every pip" in both directions (you won't do that consistently, no one does). But
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How much do I need to grow my account per month to be considered profitable. I understand technically its 1% but I doubt that's what people are talking about when they say profitable trader. You know, if you're making a profit, then you're profitable—
I am sort of new to forex, although have spent months learning the market/patterns etc. Have been practice trading on different pairs, but have liked USDJPY the most so lately I have focused on USDJPY. Was wondering if you all have had any tips on making a trading strategy?