Registered: Aug 2007
10-20-12 04:20 AM
I use to be able to scalp several markets at once for dozen hours, but age and health catches up with all. But have always used one minute charts for all scalping methods, you know when the bar ends and after awhile you find the patterns that reoccur over and over. But like today, ES was incredible, GC, CL, 6E, even the grains like Wheat/Corm/Beans often display similar patterns like ES. Often times easier to day trade as many don't consider doing so.
Scalping means consistent smaller profits with occassional runner for larger profits but really doesn't happen too often and you end up cheating yourself in long run when you could have gotten $200 all day long while trying to get 1k. I have just gotten use to the ave swings in ES to know what a counter trend swing should be then resumption of trend depending on current swing on the current trend. I know not many want to even fathom Elliott wave, but one knows the 5th wave is end of the swing, and the best is wave three when you can have a handful of opportunities to add on to an existing trend.
It is always nice to have three markets to choose from if two of them are dead in the water, but if there is a ripper day like today in ES, the other markets will be ripping as well and only worries is having enough real estate on monitors for all the DOMs.