Discussion in 'Strategy Development' started by jnhighland, Jun 24, 2005.
Which is most commonly used tool by Scalpers?
magic 8 ball or dice.....take your pick
As with any type of chart trading ...
Cash is KING ! ... Meaning your margin account.
PA (Price Action) rulez.
Know your set-ups, and don't waiver from them.
Support and resistance levels (many techniques here) + reading the order book++
I've seen the term scalping used in differrent ways all over ET. By scalping I assume you mean very small jiggles in the market usually under a minute---I think of scalping as arbing within the same market if you can imagine that. I think of trading (day trading) as from 1 min. to usually around 30 mins but never carrying over night---sometimes the setup might turn into swing trading depending on how your exits are managed. Some might use "setups" for scalping but I would see "setups" as much more used for the shorter term day trading I describe above. Setups usually need a lttle more time to "setup!! Price action and price level is by far the most important setup for my type of short term trading (1 min.---30 min.) I can't say for sure what bona fide scalpers use becaue the less than 1 min. jiggles are below my cycle of trading if you use my definition above---I'm sure some will not agree with my definition of scalping at all. Scalping seems to play on a risk / reward "edge" that can be understood and used in very short term intervals?????
a quick mouse-finger.
(sorry, I couldn't resist that one, guys)
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