Getting out - Am I Doing the Right Thing

Discussion in 'Trading' started by Flashboy, Jul 16, 2003.

  1. It sure did.

    And you're my new trading coach.

    :p


    ~Scientist
     
    #41     Jul 16, 2003
  2. In my opinion, scalping for a tick or two is nuts and a losing proposition!!!!

    Sincerely,

    ~ scalping smartie pants

    :D
     
    #42     Jul 16, 2003
  3. I do look at tick charts, but they are more in line with a 15 or 20 min chart. I am surprised you took so much offense to my post; wasn't trying to offend with my OPINION statement. But if you can scalp for a few ticks and be net positive 3 or more points after commissions, I salute you. It just isn't my style.


    ~ Smartie Pants
     
    #43     Jul 16, 2003
  4. Gross, but not necessarily net 3pts, my friend :(

    All figures are, of course, gross and not with commissions. Everything looks a little different then. That's why I'm considering buying a seat on the CME (~350K) so I can get pro rates.

    However, the benefits of scalping are the extremely low risk per trade, high frequency and cumulation. That way, you can put on much larger size.

    Since the ES are the most liquid issue in the world, they're perfectly made for that, no matter what size you do.


    Sincerely,
    ~Smartass


    P.S: Unless you're dealing 2,000 contracts per turn. But that's another story...
     
    #44     Jul 16, 2003
  5. Low risk in point terms, yes... but, as you know, you can make nearly anything low risk in $ terms by reducing size...

    Frequency is a major benefit, so long as it is not deteriorated too much by commissions (effort to net profits ratio, kinda thing)....

    Fwiw, I ain't knocking scalpin'... I do it myself (in addition to other stuff)...
     
    #45     Jul 16, 2003
  6. bubba7

    bubba7

    FYI

    I reversed at 11:13 plus going long, reversed at 13:18 going short, and at 15:35 going long until EOD.

    I was watch the SAC push on INTC. Stevie made Busines week (pg66)


    The guy did seem a little emphatic. Your two poatsabove were very helpful to a lot of people in my opinion.
    Regards,
     
    #46     Jul 16, 2003

  7. How many round turns are you doing to average your 3 pts gross per day? Hopefully it is more than that, but I thought you said it was 15 pts. per week - maybe I misread it. If you are doing 20 round turns, you probably aren't making very much. Not criticizing; just wondering. And if you are only going for one or two ticks at a time (I originally thought it was higher...3 ticks), you are probably doing more than 20 round turns. This is why scalping is a losing proposition (for MOST, not necessarily for you).
     
    #47     Jul 16, 2003