...finally some wisdom from your overinflated self. Those working dogs will come in handy for you one day being that their specialty is to sniff out victims of building colapses after earthquakes and other disasters, maybe even rescue you from your "people skills". Or maybe just take the only reason they are forced to endure MacBoo, the food stash, deal with you MB, and go out on their own. lol. Maybe hook up with the monkey, an upgrade fer sure, lol. Dude, a friend of the older bro of a highschool bud, had bought a monkey on a leash in FL once. We were crashing there and hitting the beach by day. Monkey chewed through the leash one night, grabbed the bag of monkey biscuits and split never to be seen again.
As ole Ronnie Regan would say. "There you go again" Criticizing others trading methods because they differ from your own. The exact thing that you disdain in your own posts.
It just doesn't make sense to Scalp, to me, for a retail trader. Why would someone be interested in picking up random, small, tiny, Scraps....plan to rob the bank, instead. Capture that one, single, main, obvious, big move of the day on the S&P chart. Just one trade, not many. Now some may say that's hard, how do you know the future, etc etc. pick up the seemingly obvious thing now. True, but the best things take time to learn and grasp. The Holy Grail is not some automated, scalping, fixed, formula....it's Knowing the future, along with options, for magnified returns. On the S&P, daily. This is where someone can truly print money, if they understand what they are doing.
Hello MacBookProHo, I can understand what you are stating and I am somewhat I agree with you. The only thing I disagree with is that scalping is stupid. That is the same thing as me saying swing trading is stupid. We do not know what makes money consistently. I believe that is per trader personality. Some like scalping, some like swinging , or whatever. But I subscribe to your thinking of waiting and less thinking and being accurate waiting for the best opportunity to trade
Hello MacBookProHo, Good conversation. The holy grail is whatever we want. A trader can take one or two scalp fixed profit target and stop loss trade per day and not watch the screen all day long as well, right?
Hello Illini Trader, I agree with you. Well stated. Let me say this. and hope @Sprout is reading as well as he question me earlier this week with good questions. So did @easymon1 and @MacBookProHo I believe us retail trader have more of an edge then we think we have!! Our limitation is lack of resources. I would love to have 50 Ph.D computer scientist in one building, and ALL they do all day is write code and back test all the 1000 trading ideas in my head. They would have 1 job, validate Edge all day long, 365 a year. I do not have that resource and neither do you. I would love to read all the trading books on amazon and buy all the trading courses on the internet. I do not have time and brain power. I would love to sit in a lonely room back testing every trading idea with a chart manual, no time. So what do we have? All we have is our eyes and experience. Our eyes is our edge. Our hope and consistency is our edge. All we can do is take our best guess and hope to get win over time.
Hello easymon1, The same time. It may vary depending on my availability. But I always give myself about 1 strong hour of complete focus to execute efficiently and take advantage of what I see.