Okay, let me clarify. The amount of the scalp also depends on a percentage of the stock's price and the daily range. For example, one point on WCOM is not a scalp, but one point on MSFT could be (if it's an intraday move).
Well, most of you are equity traders and because of decimalization, the bid/ask spread has reasonably decreased to an unreasonable level to call it a scalp. I guess the only "true" or "pure" scalpers only exist in the floor as locals. All the rest of those out of the floor are just intraday-swing or momentum day traders. The term scalper does sound cool than calling yourself a momentum trader. I can just imagine a conversation at a bar like: "Hey what do you do?" "I'm a trader" "How do you trade?" "I'm a momentum trader" or "I'm a scalper" Calling or referring to yourself a scalper does sound like you're deep inside the business, doing something casual traders can't do. Momentum trader is kinda corny, it's like saying, "I'm a trend-follower." and getting a response like, "So you know Waxie?"
nope. nothing doing. scalping - today - is a highly active style of trading that takes advantage of the minor price fluctuations that occur from moment to moment. highly skillful shit. not for the faint of heart. 1 point moves simply do not occur frequently enough for it be considered a scalp. SIMPLE. end of discussion.
You probably don't trade any stocks over $20. There are many, many stocks on NYSE and Nasdaq that move more than 1 point a day. Capturing a 1 pt. move out of a 4 pt. daily move (for a volatile $50+ stock) is a scalp. Quit talking out of your ass.
Capturing a move means following a trend ie. momentum. Scalpers don't buy and hope the stock will "move"! They buy and sell trying to profit from playing the bid-ask spread. They do not need the stock to "move" necessarily. I suggest that instead of insulting others and making yourself look like a fool in the process, you learn what scalping actually is vs. what you think it is and proceed to make an intelligent comment.
As I wrote in a previous post, there are momentum scalpers and specialist (or bid/ask) scalpers. I know exactly what I'm talking about. The only reason I insult daniel_m is because he comes off as a pompous know-it-all and we trade barbs all the time. For your info, momentum scalpers look to scalp a move. If the stock isn't moving, then you don't buy it. You only reason you'd buy a stock in anticipation of a move is if it's consolidating before a possible breakout. The charts, moving averages and futures would give you clues for this. Pay attention and I'll teach you something.
I see what you are saying, we are not arguing about the same point then. What you call scalper refers to both momentum and bid/ask. What I call scalpers is the guy that tries to buy at the bid and sell at the offering, the bid/ask scalper. The bid/ask scalper doesn't need the stock to move at all...he just needs people to hit the bids and lift the offers thus letting him pocket the spread. That's why a 1pt scalp seemed unlikely at first when I read your post. Do you agree with this?