I asked this once before about 3 months ago,and didn't get to much info, but since this forum has increased by several thousand members since then, I'll ask again. Does anyone know of any books or sites that specialize in techniques for scalping the e-minis? Thanks
Scalping is a term often used and seldom understood. What timeframe, number of trades, risk, and potential gains are you looking for. AllenZ
I was thinking of something like: Trading 100T bars, with your average loss being a tick or 2 and your average profit being 4 or 5 ticks with a 60% or so win/loss ratio.
Take a look at http://www.dacharts.com Most of the traders on the site are scalpers trading the NQ. There's a few different systems discussed, a Paltalk chat room, links to trading discussions.
To a true scalper, the most important number is the amount of scratch trades he can make to cover costs. I don't know how it is on globex, but on the floor the fee is waived for scratch trades, so they can usually make hundereds of scratch trades for every win. But they are just trading for 1 tick. So you get it, at 4.80 and 6 tick win it's 12.5 x 6 divided by 4.8=15. So you can make 15 scratch trades and 1 win and breakeven. The first tick has to go your way, if it doesn't you must scratch it. Now don't ask me what happens if the first 2 ticks don't go your way!
I was talking with the boys over at ffastfill, and they were telling me about a true scalper. One of their customers trades the ES in lots of 10 and this guy did a total volume of 4700 contracts in one freaking day.
If the first tick doesn't go your way aren't you down the tick. How do you "scratch " if it doesn't come back to even?
too high risk/reward IMO...try this: take "autotrader" or something like this. make the follwing settings for 1min NQ : 1.5 pt stop, 1.0 pt target (limit order)...then scalp your way...must have fast fingers trading