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A comprehensive definition of scalping from FxGlory.com
Scalping is a crucial issue among Forex traders which most of our clients ask many questions about it. It is very necessary for clients to know the transparent rules of our company about scalping.
The clients are obliged to read and follow the below rules :
1. The common rule is that, the profit or loss of those positions which are ordered by the client during the volatility time of the market will be cashed just if the positions are connected to the Bank. Opening or closing a position in the MT4 platform is not enough.
2. Closing and opening a position in a short period of time on volatility time of the market or on important economic news is not acceptable. Because on volatility time of the market, the Meta trader software is not able to connect the orders to the bank. The order can be connected to the bank only when the market movements are stable, at least for some seconds.
3. Setting pending orders near to the market price,5 minutes before or after important economic news, is not acceptable. Basically because these kinds of order are ready to be opened. But they could not be opened when the price was not able to reach the determined level for the pending order. Therefore, in some cases, the price of pending orders is not stable and quickly distance from the ordered price. This means that the order was not able to be connected to the bank.
4. Setting sell stop/ buy stop orders near the time of closing of the market is not allowed. Because when the market opens on Monday, it has a gap and therefore, it causes the activation of the pending orders which these orders are not able to connect to the bank.
5. Setting two hedged positioned with small stop loses in closing time of the market is not allowed. Because stop loss is not guaranteed in stop loss.
6. The FxGlory does not guarantee those positions which are opened and closed under (3) minute.
Therefore,
Scalping is acceptable for those legal trades which are not on important economic news and in the stable situation of the market. The position which is opened and closed in few seconds will be acceptable if the bank confirms the orders.
Attention: FxGlory Company reserves the right to protect the benefits of itself and its clients. Therefore, the company will not calculate the profit or loss of those orders which are not connected to the bank.