there are many pro scalpers that make high six or even 7 figures per year, and almost never have losing days. I know a few. I personally can't do it, but some people can. You have no idea what you are talking about.
I don't understand, there is too much hostility here. Have I offended anyone? Been a scalper, ok "intraday swing trader" for six years now. This is how I eat, I'm not looking for lectures, I'm looking for companionship because afterall, this is a lonely business. Who am I gonna talk to about trading ? My mom, my gf, my sister ? Tried, did not work. This is a trading board, correct? Don't need a Daytrading 101 sermon, need colleagues with a good attitude and similar level of experience for a common goal, become better traders. You want to form a community, let me know, you want to throw fists at each other, count me out. Incognito
Thanks for starting the thread. I don't have the experience but have found this style of trading to my liking. It offers less time exposed to the market which translates, I believe, into less chance of getting caught in an adverse move. Just in and out, take a few ticks, and look for the next one. The ES, for example, coughs up 2 and 3 tick trades all day long. Its a timing issue so the DOM works best IMO. Then once in a while you catch a runner, trail it with a stop, and that is just extra icing on the cake.
Who cares about the definition of a "scalper". I understand what the OP's goal of this thread is. If you start a chat room, I might be interested. It's always good to have more than one set of eyes on the market. A thread, or message board has too much lag. Start a chat. I would be willing to share some personal techniques if other skillful traders are there.
KEY QUESTIONS-STATEMENTS ABOUT SCALPING: Question: how in the world can you make any real $$$ scalping the NQ?...you would need to trade like 10 contracts at a time to make real money...that is why the BEST contracts to scalp are: DAX CL FTSE these 3 contracts have great 1 contract, small move profit potential...unlike the YM,ES,NQ where you need to trade many contracts and get eaten up in commisions...forget the ER2 as it is moving to ICE and everyone will forget about it soon anyway...want to scalp, really scalp...this discussion must be about scalping the DAX, CL, FTSE...comments etc...lets expose the fallacies now! I can trade 1 FTSE contract...OR...have to trade 4 YM contracts to equal... I can trade 1 DAX contract...OR...have to trade 10 YM contracts to equal... I can trade 1 CL contract...or...have to trade 11 ES contracts to equal... BOTTOMLINE...scalping 1 contract is always best...easier to 'control' and 'steer' and only 1 commission $$$ charge...
we are talking about becoming expert scalpers on this thread...any expert in any field would want the best tool for the job...a dentist, brain surgeon, lawyer, carpenter etc...my point of my post was that the DAX, FTSE, CL are the BEST 'tools' to use (contracts to trade) if you want to become an 'expert scalper'...best trading to you RiceRocket...the best to you!
Incognito, Tell us about your 7 years of trading (maybe more than 7 years). If you break them down into losing years and winning years, how do they look like?
While it's nice to use the "best" tools for scalping, switching to those markets aren't nessessarily it. That's your opinion, and only that. First, the ES/NQ markets are open for much better hours for US traders. Also, different methodologies/systems may not do as well on those markets. Finally, higher leverage and lower margins are not always "better". Additionally, I think you may want to re-read the OP's posts. He does not do the type of scalping you are refering to, so he's not refering to being an "expert scalper" like you said.