EURCHF at the London open: too slow to scalp?

[FXS London Scalper]

EURCHF at the London open is sometimes suggested as a calmer alternative to EURUSD. Whether it's worth scalping comes down to range against cost.

What to compare on your account:

• Average range from 08:00 to 10:00 London on both pairs. EURCHF is typically well under half of EURUSD.
• Average spread. EURCHF spreads are often around 1 pip or more at retail brokers.
• How often each pair makes false breaks of the Asian range.

The cost arithmetic, as a worked example: with an 18 pip morning range and a 1.2 pip spread, cost is about 7% of the range. EURUSD with a 35 pip range and 0.85 pips all-in is around 2.4%. With a 6 pip target and 4 pip stop, EURCHF would need a much higher win rate just to cover costs. A strategy that ends up near +0.05R a trade isn't worth the attention.

Cleaner moves, if you find them, don't fix the cost problem.

The main risk is the SNB. Even with no scheduled event, CHF can jump on headlines, so size should stay small.

A reasonable compromise: keep EURCHF on the watchlist for days with Swiss data, not as a daily pair. Does anyone scalp it regularly?