Hello fellow scalpers of ET. I am a Nasdaq future scalper and have been doing this for approximately three years now, graduated from the Qs (4 years scalping the ETF) and never looked back. I trade using nothing but highs, lows and intraday-multiday trendlines. In summary, I'm looking for fellow experienced scalpers that are interesting in commencing an intelligent discussion of pure price action scalping for the sake of exchanging ideas and helping us become better traders. Let me know if anyone is interested we could start our own public or private journal depending on consensus. I don't want this to be a one man show. If people are willing to participate I would be willing to put the time. Thank you for reading and great trading. Incognito
Hi, Unfortunately I'm not familiar with trading futures, but I've been scalping AAPL and APPL options for a while (aprx. 3 years). Anyway it is god to see serious forum topics here. There is QQQQ and RIMM also on the same screen, and I'm looking for the levels in premarket, intraday support and resistance levels and overall strength. BR Wise
Hi, Glad to see some input. No need to trade the same instruments, scalping and technical analysis in my humble opinion is universal. I'm quite traditional, buy low sell high although I apply a little twist. Eventhough I look for support and resistance, I take it a step further, I wont buy support, I prefer to buy below support. Won short resistance either, I will short above it instead. The reason for this is because market is not usually content with a single test and when it retraces for a re-test you can capitalize, if it was a fake move, which are very common due to stop runs, and you kept a runner, you can land some nice gains on half of the position. Will post some samples in the future as people join in the discussion to share ideas. Hopefully others join. Incognito
Do yourself a favor and forward your definition of "SCALPER" to others. You will find many define a so called "SCALP" trade in many forms. My personal definition of a scalp is what the market makers job is. An exchange member has the priviledge to BUY the BID and SELL the ASK to you and me. Thats a scalper. FWIW, trading for "TICKS" is a flawed strategy, it will burn you out for peanuts at best. Cognitis who used to be the terror of the chat room called so called scalpers "tick fuckers". Thats the most honest though not politically correct explanation ever seen on the subject. Many new traders who have not yet learned how to interpret the zigs and zags of intraday trading seem to think it is possible to scratch out a living by just yanking a tick here or a tick there. Do yourself a favor and just trade small size and shoot for the intraday "RUNS". There are opening range trades, retraces to learn, range breakouts, support/resist, add-ons to learn, reversals to learn. etc etc . Did i mention to trade small? Well let me correct that, in the beginning trade REAL small, you need a lot of time to get to the promised land. Think of it this way, when you get real consistent and always a step ahead of the mkt (ES) you can knock the cover off the ball. EDIT: Agree, tests and retests are big, huge clues the mkt gives you, keep plugging away and it will gel.........later NOT sooner. Tare no shortcuts in trading, none. Hope this helps.
BigHog, Thank you for your guidance but without sounding modest, I know what I'm doing. Not only do I enjoy it, I do it well and have done it for many years. Every trade I take starts as a scalp but if Price Action confirms it, it might become an intraday swing, it's all in the adaptation. I take what the market gives me. Incognito.
Hello, I'm trading FX (eur/usd) at the moment but would be willing to learn another instrument, taking my experience with me.I have been looking at NQ over the past month, but haven't really traded it much but keeping logs. However I would like to expand my trading there, so I would be very much interested in this and would be glad to help in any way I can.
Average win of about 10-12 points, thats 40 to 48 ticks. Average loss of 3 points, that's 12 ticks. Accuracy of approximately 35%. Incognito
Wow! And you call that "scalping"? When I traded NQ my avg. profits/losses were about the same, but I called it "intraday swing trading"... Well, anyway, good luck in developing a positive discussion here.
BTW, I also as cvds traded NQ in past, but about 8 months ago switched to FX and now trade it full time... But technical trading has much in common be it FX or SIF market...