Look, I have not read any of his earlier posts and made those remarks based on his posts on this thread. I don't know or even care if he is a great scalper or not. The stuff that he mentioned here is spot on.
Isnt this thread basically you begging for a pro to to help you learn to scalp? I mean, go read your first post again. So nyob does and all you can do is argue with him huh? Maybe its because its been a long time since I was a noob, but UGH! Kitty1996, be humble and take things as they come. Stop being so stubborn. He is a pro, you are a nobody. Nobody's should listen...then maybe they can be a somebody in the trading game. If you want to scalp, listen to him. If not then go find another niche.
Hey, we are not talking of permanent moves in a stock: only temporary reaction. It happens all the time. Put in a 5000 share order to buy at the ask (say bid 30.05 ask 30.10) on a stock that trades only 500,000 shares a day. Very often you see all the level-II watchers rush in and drive the price to, say 30.50. I see that all the time with my orders: but I have learnt not to be suckered into chasing the move by bidding up. Eventually the price will come down to where it should be (especially after you cancel your bid).
NYOB, I have been thinking of doing similar things to what you describe but my biggest worry is to hit larger size when I fake bids or if a seller shows up. Let's say I start faking a 2k stepping bid (illiquid stocks of course) and upticking here and there to create the momentum and let's also say I already accumulated some 3k shares from a 5k stale offer that was sitting down there. Sometimes even with a clean open book you might get some resistance size specially around figures that could stop the move. If I pull my bid people will start selling and the stock will fall. If I don't pull my bid it might get hit and it might not clear the offer size. I'd then be sitting with a large position with unknown risk. What would you do in this case?
Not really, I am not begging for help anything. I didnot make this thread to beg any particular person to teach me anything. I just ask general ideas from ET posters in general, no one in particular. I still say: He is a good scalper. And NO, he didnot & can't cause any major movement in the stock with $250,000 BP. My definition of major movement is different. He can read the Specialists/the MMs/ect well, I respect that. About faked orders: What he is doing is very manipulative & can cause back-fire because his faked order can get filled. Someone can sell/buy below/above ask/bid. Yes or no? If someone in hurry to buy/sell because he has insiders infos, this faked order will get filled! Please don't tell me this method is not dangerous! And... I give him a lot of compliments already, what else do you want me to say? If any of you don't like my thread then please don't be here.
I've been scalping successfully for almost 9 years Kitty, you are a noob. Yes placing fake orders CAN be dangerous but those of us with experience know when we can do it and when we cannot. You should never place orders if you do not understand the circumstances. I fully agree. NYOB, good posts man. Stop feeding all your good info to people like Kitty, let her get smoked on her own learning how to scalp.
What happened if the faked 5000 shares order get filled by a mysterious real seller/buyer because this mysterious seller/buyer has some insiders' infos? What is the risk here? More than the reward of 10-25 cents for sure!
You own the market? No one own the market so please don't say you know that your faked orders will never get filled. This method is pure gambling & extremely risky & manipulative that it can cause back fire. And I have no interests in doing it or learning it, it's NOT what true scalping is. True scalping is going along with the house/the Specialist/the MM/Tape reading (seeing who is the big buyer/seller is & going along with him for a ride), a good scalper who can do that successfully can make plenty of money. No need to be so manipulative & take so much risk. I don't want to make money from being so manipulative. I want to earn money the right way ...So, yes, stop posting those posts that teach newbies to be a manipulative traders. Please!!!
I know what scalping is noob, I've been doing it a lot longer than you will probably even be in this industry. No one said placing fake orders is something you do all the time, only that it can be beneficial to those who KNOW HOW TO READ BUYERS AND SELLERS. If you cant read buyers and sellers, then you are phucked. NYOB is talking about much more advanced stuff than you can possibly fathom right now and I agree, you shouldnt focus on any of it!
You are lying to yourself if you think this method is (1)not manipulative and (2)extremely risky even for experienced traders because your risks is far more 10-25 cents reward. I have no interests in doing it because I don't want to trick people into buying/selling . That's so wrong. It's not the right respectable way to make money. You are TRICKING people. It's MANIPULATION. I don't want to learn how to manipulate the market. No thank you! I want to make money the right way, not manipulation! The SEC should ban all traders from doing this manipulative activities.