Anyone care to share a method I can place on my screen and learn for scalping opportunities? For Example: Which equity, chart, time frame and indicators, etc. Thanks
Boy I'm glad I just trade listed stocks. Making a living scalping Nasdaq stocks has to one heck of a burn out. Sounds like Nintendo trading at best----Yuck.
not necessary... all depends on approach and method applied. For instance, you play usual setups that you would take for daytrade, you just don't give stock too much room for wiggles taking your profit at 1:1 risk reward or higher, as soon as it weakens/pauses. "Nintendo" approach can be played too, but it's not all there is to scalping. It's specific style, yeah... requires somewhat different angle and does have its disadvantages, but upside is there, too. Mentioned above instant gratification, extremely tight risk control. As always, comes to personal preferences, temperament, risk tolerance etc Vad
I know successful scalpers in the current market (I am not one). I believe this form of trading has become a lot more difficult since the advent of decimalization. - Greg
I scalp the mini-ES 4-8 time a day, 2-4 contracts each. My goal is 2 ticks. I use the following charts: 5-Minute candle chart for TREND (up or down) 1-Minute candles for buy/sell signal (with the trend) Tick chart for the trigger. I chart with QCHARTS and use IB as a broker. Hope this helps.
Hi Jboyd, Seems that with that setup you would get LOTS of signals....can you elaborate which ones you take considering you only trade 4-8 times per day? Thanks!
I use a combination of signals... waiting for them to confirm each other. (usually 3 confirming signals, with the trend). Signals I use: RSI peaks DMI Crossover Commodity channel Kirshenbaums
I continue to experiment with methods for scalping that best fit me. Until all the rules are "etched in stone" my entries remain on the light side.. 200-500 shares max, if taken at all. Only when my plan is complete.. rules, comfort level and belief in the method are refined to a point they need to be, then size will be added. I watch 1 minute charts on a few Nasdaq stocks. Nasdaq Futures Tick For example, look at INTC. It's interesting to follow it with an macd histogram, combined with a 200 psma to help define the trend and a 20 & 50 pma for support, resistance, etc. Sometimes macd goes positive only for a short time.. as to the futures. I guess they call it a whipsaw or chop. Other times it will stay positive or negative for hours, as will the moving averages. What started as a scalp entry turns out to be a longer hold.. pair out. Again, I am experimenting and certainly open to suggestions, critics or words of advice. I joined Elite Trader hoping to share some real meat and potatoes in trading.
Out of curiosity, please elaborate on what you perceive the differences between scalping NYSE stocks and Nasdaq stocks are... Thanks, Candle