Because I have enjoyed reading many of these journals over the past months - I have been wondering if there is any interest in the reading of a scalping journal? I ask this because I am hoping it will require more disipline in my trading, forcing me to stay with what the system requires. I have a very simple system that I use for the ES. IB and BracketTrader have made it possible for me to use this idea. IB because a guy can still get out at +.25 and be profitable. And BracketTrader because it has allowed true one click trading. I have not arrived, but I am moving in that direction. This is simply a preliminary inquiry, to gage interest in a scalping type journal. Brandon and others have made it a point to show that you do not NEED to take 20-30 trades a day to make money. Mr. Sub has shown that is possible to take 20-30 trades and day and both make and lose money. I want to show (I believe) that for those of us who like taking a large number of trades a day that one can still make some good money - I do not believe that all the money is made following trends. If there is any interest, I will fully disclose everthing involved in this little trading method, and what there is of my trading plan and what I believe in the area of how much to risk on each trade. I will leave you with the very best wishes for a Happy Thanksgiving (remember why we have the holiday) and will come back Sunday night to check the interest for perhaps a Monday start or to put this attempt to bed. Blessings all, and Make 'em pretty, Chris
I want to know what you are THINKING (why you are going in and out). I am always interested in free education.
I've found that my best trades are scalps fading the trend in 10's and 30's (bonds). I try to take 1-2 ticks on a 100 lot. I've tried Auto trader with IB with mixed results. Unfortunatley, I wasn't able to get Bracket Trader to function properly.
Go for it. It's certainly a viable legit method. A scalpers perceptions, decisions, and trades have value to all traders. Those new to the game, attempting to understand the many levels of reality it can present, may especially appreciate looking over your shoulder.
Based on the number of trades you would make a day, it might be better to give an end of the day results log with maybe some comments on notable trades as well as mistakes you've made and how you can correct them. Also, a general description on your setup and chart settings would help if you want feedback from other traders.
Also looking forward to your method and results...hope you find the time to start it up this coming week...thanks
I would like to follow your journal. As an aspiring trader, I would love to follow your trades, and learn your strategies. Go for it, and good luck.