I was wondering what strategies you intraday scalpers use. I am referring to very short period trades. Personally I watch the E mini Naz futures and the E mini S&Ps, and of course the L2. TA is hard to do on such a time frame. Does anyone out there trader contrarian style? Often a futures rip, and stock rip will bounce back a couple of cents....I mostly trade SUNW.
why sunw? it's a five dollar stock that is super thick. are you immediately re bidding or offering the stock. Do you use a lot of invisible orders. also what trading platform do you use. haven't scalped in a while. just curious. cheers.
SUNW is pretty good because it follows the futures well and offers potential for ECN rebates too. I usually hide ISLD or use INCA when bidding or offering. CSCO also works well. Sometimes I immediately rebid or offer, but on big moves retailing in and offering out is important to do.
Today for a while SUNW did the exact opposite of the 2 futures I mentioned earlier. What generally makes a stock do this other than large institutional orders?
just kidding... i never get concerned when my naz stocks diverge from the futures. normally it just means that the stock is at sup/resistance or is oversold/overbought.
tape reading is king for listed scalping.....i guess the most obvious is detecting a market short seller with size and front running him until he starts getting taken. This is the gravy for a lot of scalpers i know....how ever, these are quick opportunities with all the vultures canvassing the same carcass so you have to be quick....they love those nx orders