Hard Stops vs Mental Stops

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Dont know if pit traders [old school] can; but for example on FB chart, AUG 2, many may figure it goes from $169 .....area to $170, bull market stocks.Even if it did not [it did go to 170.55, AUG 2] thats where the probabilities were .I write down my mental stops, on paper;
/swing position moves. For a tulip mania market like bitCon-i not in that. Thats for stocks; dont trade Forex, myself..Thats wisdom ; not a prediction its going to a round number.....

 

What you describe is in no way shape or form, "scalping". You are short term day trading.

 

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A ''position trade '' [same NYOB Scalper quote ]''sounds something like a trend trade /investment .......,...NOT a prediction.