Hey man, Thanks for posting. I've been frustrated and a little lazy. I did 1 trade too yty. I lost 3 pts. There doesn't seem to be any follow through on moves and countertrending looks like a better deal than trend based trades.
I just closed out my first trade of today. I sold at 10695 because of the same setup that i always play. (2 confirming red candles under the top bollinger on the 5min chart with overbought conditions on the StochRSI) and I covered about 10 minutes later at 10675. Nice and quick 20 ticks. If I may ask Snowman, are there any particular scalping setups that you look for or do you trade off of the feel of the market? (volume/price action)
Well didn't manage to stay away yesterday. I did pull a trade on the push down and mini pullback. Made 10 points which is nice after the difficult days I've had. I think I need to get in better position or better filter my trades. I'm glad you are doing so well wh1te! Nice job. What platform are you on? I've basically be getting in on pullbacks of what I judge to be a trend but lately I'm starting to doubt myself a bit. I think I need to better choose my entry or wait for the right/best moment to trade. I may even go back to simming for a bit, but will see. Good Luck today!
btw , to put things into comparison you trading for 10 ticks on YM = .10% is equivalent of you trading for 3 cents on lets say GE $18 stock. Would you trade GE for 3 cents profit? Doesn't really make sense if you sit back and look at it. It only make sense cause you are leveraged up.. But in the whole scheme of things, its pretty outrageous. --------- this has nothing to do with your trading strategy, it can be great etc, but you are trading for too little reward for too much work.
Thanks for the update. I'm not greedy. If you can teach me to get 10 cents on GE then please do Otherwise I'm just trying to make some $$$ I know my method may not be the best but that's what I have. Please feel free to post your trades on the YM.
Took a short on a pullback of the move down. Made +10 points. I'm not too happy about my entry and its something I have to think about and probably work on but nice to have another profitable trade. What a crazy history! I have 4 wks that ended +9 !!! March: +49 1st wk: +10, +1, +10, -10, +10, +10 = +31 2nd wk: +10, +6, -10, 0, -3, -10, +6, +10 = +9 3rd wk: +4, -12, -3, +10, +10 = +9 February: +59 2nd wk: +10, +10, +11, +10 = +41 3rd wk: +6, +10, -7 = +9 4th wk: +10, +9, -10 = +9
No trades for me yet, it looks liker there is a descending triangle setting up from when we put the low of the day in on the 5 min chart. I think I'll wait a little bit a play that. To answer you question, Snowman, I use Infinity AT as my trading platform and Think or Swim as my charting platform. I've found that combination to be plenty useful for my needs. What platform do you use?
Just closed a quick little trade for 15 ticks. It took about 5 minutes lol. I sold @10657 immediately after making my last post and covered shortly thereafter @10642. The biggest problem I have with my trading is not letting my short term winners ride. I know it's purely psychological but it's a hurdle I need to get across. If I would of had more intestinal fortitude i could have picked up 10 more ticks. Maybe I need to get more sim experience with my "scalps" I'm cold as ice when it come to my thought out swing plays but when I scalp for quick moves I get nervous. I'm clocking out for the weekend, the weather is beautiful here in Pittsburgh, I'm going to take my son to the park and enjoy it. Have a good weekend Snowman, see you on Monday.