Discussion in 'Trading' started by di1836, Jul 14, 2010.
i guess Q is one.. what are some other good stocks to scalp right now?
I prefer high beta ETFs like EWZ, XME, and the leveraged ETFs.
real scalping is dead. q, s, and c are all scalpable though even in this low volume, quick moving market
what is "real scalping" and why is it dead? how longs it been dead and why? and as far as q, s and c right now, how much potential is there for profits?
real scalping is holding a position for 2 minutes or less on average. you are using a stock which is low priced, has a 1 cent spread between bid/ask. you have the level 2 quotes of the stock your watching as well as the time and sales right in front of you flashing every sale price and quantity. you put an order for 100 shares on the bid, 100 on the ask. you wait for your fills and you make $1 each way.
I started working for a prop firm doing this in April. at that point it was still effective. and then everybody started using midpoints, which cut the profits in half. it wouldn't have been that bad though if volume didn't die out too. now the levels break, or switch sides very quickly due to the low volume fast moving market. After 3 months working at my place i quit because it was just ridiculous, trading with no strategy, with no overnight holding power. anyway i've been day/swing trading stocks/etfs/forex, and I am much much more profitable this way.
If you're at a place like mine, it doesn't hurt to just stay for a few months getting experience seeing price action all day long. it will help you with your entries and exits later on.
helpful stuff, def sounds like a similar situation... but 100 shares at a time? thats rough. anyway, how are you swing trading? found a firm to fund you or are you doing it all yourself?
100 shares was just an example, ya that would be rough.
i funded my own account with questrade/ib.
what do u bade your trades on? whats your background? i ask because in the scalping game theres a very low learning curve, but as a swing trader you gota really know your stuff no?
i'm 19 years old, i don't go to school but i do know alot about stocks and trading. so i have a good percent of money for trading, trading anything. like 3x etf's or leveraging out. i'm willing to take risks when the reward is there. at the same time i get out as soon as i feel i'm wrong.
how many round trips per day are doable with Q using 1000 shares/trade