A scalper invitation to scalpers

First year in Qs, a disaster.

Second year in Qs, some profits not consistent.

Third year in Qs, consistency.

.....transition to NQ looking for leverage.

Consistency from the start and although performances has not increased dramatically in the last 3 years in NQ I have been able to increase the car size so some real improvements in fear/greed.

That's pretty much it.

Reason why I do NQ is obvious, did the Qs and I know the index well.

Incognito

 

i'd love to have a scalping thread, although I don't know if this thread is what i'd be looking for. I consider scalping taking free money from the market or in and out of a trade in less than 10-20 seconds. Sounds a little different than what you do.

 

Incognito, I sent you a PM.

 

Scalping is a word used often but not well defined in trading (or at ET). It can mean micro-scalping (for ticks) or intraday swing trading (for points or handles).

I'll be interested in the latter. I trade price action. But I do think indicators have some value if used correctly. That's a very debatable subject at ET.

 

I will let the price action tells me whether I want to trade the first test. Using the example to short at resistance.

1) If the trend is down and the price action shows clearly weakness, I will prefer to short resistance at the first test since there is a high odd that there won't be no second test.
2) If the trend is down and the price action shows some strength, I will probably wait for second test.
3) If the trend is up, I definitely won't short the first test at resistance. I need much more confirmation.

As a discretionary trader, the skill to read price action is critical. How we read price action dictates what action we are going to take.

 

Question for Swing Scalper and Incognito

How do you determine support and reisitance? My view is that S/R is a zone rather than a point.

I simply draw lines on the chart starting with 1 day then 1 hour and 15mins.

For trades I look at the price action and take a position in the direction of the current trend with a stop usally behind S/R [with a view to reversing postion should the stop be hit].

I don't use any other indicators.

It seems to works with most instruments once you understand the time frames and the best times of day for trading.

I successfuly trade gold, euro and cable.

Have failed with HK33 and ASX200.

Am trying oil, S&P and NDX.

Have tried scalping ie targetting 6 ticks or less and couldn't get it to work, am much happier [and more profitable] with 10-40 tick targets.

Am interested to hear your thoughts on S/R.

Cheers

 

Here is a trading setup i use from time to time to scalp it's called "pocket" ... actually this is S/R zones ... The sample is of buy pocket...

 

Here is one more

 

Sell "Pocket"

 

Scalping seems to be a wide term for many including what I call short term target trading. But I judge the term 'scalping' as meaning only high frequency very fast trading for a few points each time.

So let me address short term target trading. I don't do this because there is much more to take. But can short term target trading work? 'Yes', is my answer. I refer to CL. You do need to know what you are doing otherwise you will burn yourself badly. Nevertheless if you know this market intimately you can trade it in that manner. There are many moments where you can take the signal, buy or sell, and take 10 or 20 points (cents) usually fairly quickly, sometimes inside a minute and if you know when to hit spikes or reverse spikes you can take 10 or 20 points (cents) under 20 seconds. At many other times it may take up to 5 minutes to collect. For less skilled players, use a stop.