scalping and scalpers

Hi Jokepie.. Good to see you back.. What part of the bay area. Do you daycare futures

Thanks in advance
Toucan

 

yeah it took me a while ti learn, I have found with increased risk it is actually more difficult

 

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MAKE sure have REal Estate, business;
investments, trades investments..............................................................................
Good music helps+ NEVER panic sell, planned sells can help+ repeat

 

May I ask what is the general definition of scalping? Is it defined by time or value or both?

Thanks.

 

Creating a poll will result in useful responses.

 

I find Scalping - the safest way to trade - been doing it for years.

What "tiddlywinks" says is right in his first sentence. Scalping can be fast paced - but it doesn't have to be. To some traders - Scalping may be in a trade for Minutes - while others like myself - Seconds. I said awhile back - in another thread - Scalping comes naturally to me - as I grew up on an Indian Reservation - and both my American Indian - Brothers-in Law - taught me how to Scalp - the right way - LOL.

Ages ago - I used to have a thread on the old HotComm - and one trader friend of mine - started calling me "2 Tick" - then many of the others started doing it.

I also do some Scalp_Trend combination trades. Say 5 contracts - Scalp 4 contracts for a couple of ticks - then potentially have a Runner with the remaining contract. Once you Close the first 4 contracts - bring your Stop - to at least - BreakEven - so in the worst case - your remaining Contact will be Stopped Out at B.E. If price keeps going in Profit - then Trail it. It is NOT hard to do.

I have seen traders doing Trend trades - in Profit - and watch Price come back against them - and finally end up with a Loss. Actually - I did that quite often - when I first started trading.

To all - have a great day.

Scalping - 10 days - One Contract per Scalp. When I do trade - I only trade a Maximum of 2 Hours in the morning - so the results would be MUCH Less than what is shown here.

 

Interesting concepts.

Thank you for sharing.

 

The problem with most traders - ME included - when I first started - is we tend to make things way to complicated. Soon - we are adding several Indicators to a chart - and have Multiple charts - just to Enter a trade. Once I started getting rid of Indicators - my trading improved considerably. Eventually - I stopped using any Indicator. I code based on what I call TRUE or PURE - Price Action. And believe or not - I only Look Back - One Bar. Not 10 days - 30 days - 1000 days - just One Bar.

I have a favorite trading Meetup I attend each Month. I have done a few talks - showed what I do. There is one trader in the Meetup - nice guy - when he does a presentation - he has Multiple charts - many Indicators on each chart - 5 or 6 Moving Averages - etc. And he has mentioned - sometimes he gets a headache - I wonder why. Yet - he thinks my setup is too Simple. Well - I do NOT use Indicators - just an Algo - and rarely do I get a headache - at least from Trading.

I believe I said in my old thread - many years ago - I was invited to Chicago by a couple Brokers - at the old MFGlobal. What I didn't know - was they arranged it so I could go into the Pits. What traders do not see on TV - is there are Rows of Computers and Traders - sitting above the Pits. I got to sit with a Trader - who's Partner was in the Pits. He would send Hand Signals down to his Partner. He also had 2 computers stations - and it blew me away - NO Indicators. He was looking at other things - NOT Indictors. That got me to thinking - and changing the way I look at the market.

Having said all that - I do believe Indicators have some value - but most traders end up using way to many Indicators - which I firmly believe - will cause most traders to fail. I was close to failing - on several occasions - NOT a nice experience.

We need to do the K.I.S.S.

Funny - I just thought of the Trader I sat with above the Pits. If you have ever seen a Las Vegas (I believe) comedian name Carrot Top - well this trader in the Pits - had Hair like his - but NOT Orange_Red like Carrot Top.

 

Yes in the pit all you need is yesterdays OHLC, VWAP and maybe a pivot. This gives sorta naked chart. I trade like that too.

 

Good Morning VSTscalper,

Question please:

1. When you scalp, and the stop loss is hit:

• 1.) What is your mental approach to recovering the One loss?
• 2.) What is your plan to recovering the One loss?
• 3.) Do you ever have 2 losses in a row?

Thank you,