In today's markets, you can only overcome them if you have a killer comission schedule, assuming you can get more winners than losers, or alternatively, have more losers than winners but know when to let your winners ride. As soon as you start to let winners ride, you are most likely leaving the realm of "scalping." As per your 80% on ET, all you have to do is a little math to realize that there is no truth to that number, assuming they mean 80% _after_comissions_ and not on simmulted trades. For example, say they have an 80% chance of success and are able, after comissions, to take home 1.5 cents per share. How long do you think at that rate, it would take to double your money assuming there is plenty of liquidity year after year? Remember, a typical scalper does 100K shares a day. Basically, you would own Microsoft in no time. People make all sorts of claims, but all you have to do is back of the envelope type calculations to know they are full of shit. nitro
Good luck with these "helpful" forums. What is amazing to me is how many people on ET are looking for tips and help, instead of learning to trade. nitro
There is lots of good information here. But it should mostly be used to be lead in a good direction to do your own research and take your own risks, not to take a spoon a baby feed you. Ideally you learn to fish, not to be given fish. nitro
Hey CW, Well, I see the local-yokal flamer morons have descended on your well-intentioned thread. Posting wonderboys. Scalping is indeed profitable. It can also be one of the best strategies risk-wise. With time spent in the open market ranging from a few seconds to a few minutes you're drastically reducing your money to market exposure. Anytime you can do that, it's good. I can scalp off 1000-points on EUR/USD (currencies) in a straight 8 to 12 hours of trading, when that pair typically moves 75 to 100 points, and end flat (no open positions.) My doing this gets the losers' noses out of joint here because they can't figure out how its done. That turns them into flaming idiots who post polls to get me banned. I'm interesting in assisting you in your goals to become a better trader - email me if you'd like so we can discuss pricing, et al. Kindest regards, sKaLpZ
They rock. Vadym is one of the best tape readers on the planet (next to me that, is. heh heh heh) I couldn't wade through much of the "Are Women Better Traders" thread but as a woman, I have a very definite opinion on that subject Want to guess what it is?
Just as another opinion on the thread, i scalp NYSE with a winning % of 60-65% daily. I always flat into the bid/ask and rarely take actual losses, just commision losses.
What firm do you trade for? How many shares a day do you do? How many times a day do you scalp? Winning % is irrelevant if you don't make money after comission. After comission, are you profitable 60-65% of the time, and if so, are you willing to prove it? nitro
coolweb, pm user "threei", he's a scalper and may offer mentorship or some other value to you. he seems to be a successful scalper but i am not aware of his actual track record and i am not affiliated with him. just alerting you to his presence in this world, for better or for worse. do not see this post as a proper recommendation by me. i recommend nothing. ciao 50