Scalping e-minis

I can't be operating and dictionarying at the same time. (I'm gonna quit trading after I get these student loans paid, man medical school is expensive! But I figure if I can scalp for about 6 to 12 points a day (as soon as I build up to $3500 I'll be able to trade 2 es contracts) I should have them paid off in no time. Trading should be very easy for me, after all, I am a Doctor, which is a lot more than I can say for some of the low life gamblers who hang out here and can't even spell as good as me!)

 

I know ther's a spell checker, but everytime I enter scalpal, it tries to change it to scalp. Then it says,"see also, bleed, hemmorage, micro sugery and other bad ideas."

 

I overtraded for sure but I am trying to learn how to scalp the minis and we know that you can't learn without putting real money to the test. My goal is to at least breakeven with commissions until I find a method or setup that I really like. Then I can start trading with more size more infrequently. My goal is to make $100 net commissions with 1 contract and then start doing more size.

 

and trade less ...

 

SethArb, you just said the magic word "pivots" that so many throw around.. But how *exactly* does one trade them?

 

you are right half and half IMO. i was thinking that too, but, whats the use in feeding IB with comm, when you can papertrade it instead. i run my chart, my TWS/autotrader, but instead of hitting the bid/ask, i just note it on paper. its the same effect IMO, the learning effect is even greater, because you can concentrate on signal, condition+timing. the process is not interferred with emotions. if you have been trading for real a couple of month (and already know what it means to trade for real), there is no use in real trading for developing or testing a method IMO.

trading

 

Do you use stop or stop limit orders on NQ? These 20 point + spikes are scary. I tend not to enter a stop at all, it saves time too since otherwise I have to prepare my stop before entering the position.

 

It will allows you to specify stop and target orders before the fill.
If filled they will be transmitted.

The tool is free and works with IB.

http://sling.to/autotrader/

 

Here's a link to some charts:

www.simple-as-123.net/cj.html


Here's a link to download a handy, pivot point
calculator:...left click on " Bruce M's most excellent calculator!"

www.simple-as-123.net/downloads.html

If you like this site, here's the homepage:

www.simple-as-123.net/


Hope this helps and good luck!