When the prices are trending limit orders don't get filled . Here are 4 more 6 pip stop set ups , with a 12 pip stop you have bagged a good 50 pips
A nice article on scalping here: Scalping: Small Quick Profits Can Add Up http://www.investopedia.com/articles/trading/05/scalping.asp#axzz1dZgrEOir
Huh? EXACTLY, my point Of course, because there is no real money involved, Again my whole point. Look, I hope you're the next Livermore, I just happen to know for a fact that sim trading and real trading have little in common. Now if I was trying a new order entry platform, I could see sim trading to familiarize myself with the keys etc. Beyond that you're largely wasting your time.
It's really something, reading so many stupid dumb fucking posts on this board by guys who are painly obviously (excuse double) not making much of anything at all. And then I find this golden nugget...the first seven words has great 'pro trader' advise that some of you five-figure post count 'traders' should take a hint from. IMO.
Nice! I actually do the same, but not so often anymore because of time. I feel as though human "high frequency" trading ought to be a sport... sometimes I go to a coffee shop with a stop watch in one hand and a Bloomberg keyboard in the other to bring a sense of superficial theatre for the ladies (joke, I don't really do this)
If you can't say anything useful or nice , do not bother posting.The purpose of this thread was to find some quality input of potential risks in this this type of trading.Please do post some quality constructive criticism , if you have any. This type of momentum based scalping works only when there is decent volatility.If the volatility dies , the spreads will kill the profitability.Night spreads can be higher resulting in erosion of profits further. To trade hundreds of times daily requires a friendly platform with one or two click execution .In addition the platform should allow quick input of stop loss , the metatrader allows quick input of 6 to 8 pips stops with a few clicks , other platforms allow a quicker fixed stop order with every execution entry.The platform I use for live accounts is very slow for inputting stops,just getting used to it on demo.The metatrader brokers have disconnections and freezing platforms for this type of trading. The purpose of this thread is to learn something new about scalping.
I suffered from stress and anxiety due to inexperience and had not fully understood the method which was making 4 % a day.I was like a clueless footballer who scored goals ,just did it naturally on instincts (without having knowledge of the technique) , and made the money.When I tried to score goals purposely using a technique (more like a system of moves) ,I failed because I did not know the correct technique .Last few months were spent on demo practise , phsychology discussions , working on technique and probability studies with huge data back testing over ten years .These have cleared up the the technique issues and this has now been resolved. The problem was not due to real money being on the table. I do understand the issues between live and demo and also the statistics of 80 % demo traders lose on live accounts
The other problem with momentum scalping is if the trend is mixed i.e down 15 pips and up 12 , it hits small stops frequently resulting in losses.Sometimes the market becomes choppy for hours .Often stops get taken out , price moves in the direction of momentum.