ET scalpers ... please come here. I am sure there are many professional scalpers here. Please all come here & help each other....or rather help me To start with, I will say I am new in this scalping-trading style. So, I'd like to learn from you all. I would like to ask... why it is so strange like this, before I was studying scalping, I bought some stocks, it is easily for it to go up 10-15- even 50 cents. Why now that I start learning scalping, I'd feel so happy even if it goes up 3 cents...or even 1 cent? Besides that question, let share: 1.What do you scalp? Stocks or indexes. 2.What method you find useful? 3.What tools do you use most? Charts or Time&Sales and L2. Thank you for reading/and replies & please have a nice weekend
Why do you want to join the lowest ranked profession on Wall street? You know you account may close in 6 months? There are lots of scalpers and daytraders on this forum, mostly hunting on the downside of the market but they will not help you.
Some people might give you very sound advice on how to start scalping but you will be better off sitting next to someone who can scalp successfully and that is through the prop route or through someone you know. Learning by yourself following what you read here and there will drastically decrease your odds to make money in this game. Find a pro, watch him then go from there...that's the route I took. Now if you are just curious to know what scalping means you can read all 88 pages of this....old but useful thread. http://www.elitetrader.com/vb/showthread.php?s=&threadid=56373
Just so you understand....... Scalping anything other than liquid stocks is pure gambling.... You will not last 6 months, if that...... Learn a few (3-5) very liquid stocks that move...learn the moves...take what they give you everyday.... Nice and consistant.....you will last... Good luck SteveD
I do what some might think as scalping stocks, although I like to think on that as trading. Anyways if you think on scalping stocks know that only about 10-20 (NYSE&NASDAQ) stocks are good for scalping, I myself use charts but I know most scalpers (espcially index scalpers) use Time&Sales + L2 + DOM.
depth of market. It shows all the bids/offers usually 5 deep. A great tool if you know how to use it properly and i'm still learning. I also disagree on the statement saying its impossible to scalp illiquid products. I think you will find those are usually the best products to scalp. Key word wide bid/offer spreads
If you are going to do it, my suggestion is nyse only stocks with spreads of only a penny...try something closely tied to s&p to get started so you can get a feel for the market mechanics of that particular equity...