Perhaps he is trying scalping because he has already tried your strategy. If you are going to say scalping is a mirage, at least do us all a favor and tell us why. Many people here live their dreams out of scalping...
I think if you buy a ticket to a sporting event you should go. If not just sell them at face value or at the very most double. This excessive " scalping " is hurting the average fan.
How would you define scalping? My definition of scalping includes "trade ES e-mini's as intraday positions."
My definition of SCALPING (ES) is anything less than 2 handles. (i would even go as far to say that many even go lower than this amount). Personally i feel many traders look to scalping because of losing many trades when attempting to catch intraday runs in the past. (a intraday position trade). Makes sense because there is not a single reason on the planet for a daytrader to attempt to take TICKS out of the mkt rather than HANDLES. Look at the reward to risk: What is a scalper trying to accomplish? What is a scalper trying to avoid? The simple answer is that a so called scalper is envisioning profits and scared stiff to do trades where the risk is anything below THE SAME PROJECTED PROFIT. This is a flawed strat for anyone but the market maker who can BUY the BID and SELL the ASK. Small tiny tick profits is a SURE CLUE that this trader is afraid of the game he/she is playing. Scalpers as they like to be called, TAKE the small profit before it goes "PUFF". Face it guys, scalping is for chicken littles. NO ONE , NO ONE comes into trading with the intention of becoming a scalper unless he/she is heading inside the pit. Scalping as a strat is an excuse for avoiding the truth that said trader has a hangup on taking losers. Scalping for small wins is a ticket to failure. WHY? Because if one is afraid to take a loss on an intraday position trade and gets desperate and turns to SCALPING as a relief valve, where is it written that this same person is automatically going to TAKE a loss before it wipes out all those small kiddie profits? Scalping is nothing more than an off the floor trader trading NOISE........WHY? Because a scalper is doing trades where the risk/reward is no better than flipping a coin. Scalpers are at disadvantage to coin flippers also because coin flippers do not need to pay commissions. Flips that scalp are (and i will bet the farm on this) NOT TOUGH ENOUGH to TAKE small losses. Flip scalpers will stick with a loss and watch 10 small scalps go down the toilet. Scalpers are AFRAID to trade with a proper r/r ratio. Why? Why else would anyone on the planet say to another person......"I SCALP for pennies in one of worlds largest cash pots." They really need to say>.. I am lost, i am on road to ruin. All leads back to original contention: scalpers can not trade good enough to trade intraday positions. ... Ok, time to bring home some bacon soon. Good luck you position intraday folks PS, Scalpers do nothing more than provide liquidity for us intraday position traders. thanks guys
Hog you have no freaking clue what you are talking about.... That may be the case for most scalpers, but definately not for all. Scalping offers the lowest risk IMO. If you have a strategy that works on all time frames why not use it on a lower time frame and do it over and over. It allows for more trades, less risk and postivie $$ in the pocket each and everyday which is a mental plus. Granted, most scalpers dont have a defined edge, but the ones that do cash in huge. p.s. Thanks for providing me with liquidity
Bighog, if they are scalping with a 1:1 what is wrong with that ? There is an inverse relationship between point targets and win ratio.
bighog is a typical elitetrader poster employing the #1 logical fallacy here "it didn't work for me, therefore it can't work" usually, this is accompanied by an aftertaste of bitterness just because he could not scalp profitably doesn't mean it's not a valuable strategy. i make my living doing it. i also hold some STOCKS for years, and do swing trades, position trades, and spread trades. but my income source is intraday futures scalps. YM, not ES btw bighog extrapolates from his unsuccessful experience to make grand sweeping statements about what others can do. that's ignorant, arrogant, and nonsensical
in flipping coins 1 win = 1 win in flipping coins 1 lose = 1 loss in trading 2 ticks = 2 ticks won in trading 2 or more ticks == you do the math. Thus, i stick to contention that the problem is in taking losses. ok, time to trade. thks