Scalping...

Discussion in 'Trading' started by jlcarey1, Aug 27, 2003.

  1. jlcarey1

    jlcarey1

    Scalping NYSE stocks basically sucks. It's a great commission and Bullet generator. It's good to know how it works, but I don't really see this as being a way to earn any real money. What is your experience?
     
  2. Moohead

    Moohead

    You position trade NYSE stocks. There are many ways to slice a duck, position trade say GE from $26 to $29, or day trade GE 10, 15 cents on 1000 shares, that's $150 minus the commish, or 10,000 GE on 15 cents, that's a cool fifteen hundred bucks in few minutes. Read the CNBC tapes, ten, fifteen thousands share trade happened every second.
     
  3. I know people pulling in six figures a year scalping nyse stocks for pennies at a time- literally.

    Like any trading strategy, some will try it and fail and others will excel at it. If it worked for everyone, everyone would do it.
     
  4. Contact sdtrader via PM and ask his advice.
     
  5. Mecro

    Mecro

    U dont know what you are trading. Stop trading AOL and crap like that.

    But today is a nightmare. I did not know that when there are sellers, the price goes up and visa versa.
     
  6. What non-crap NYSE stocks would you recommend for scalping?
     
  7. Moohead

    Moohead

    "What non-crap NYSE stocks would you recommend for scalping?"


    There are many, the topic is "scalping".....as long as the stock move, there's opportunity to scalp, whether it's long or short, all depends on your skill:)

    For instance, GE this morning, open 29.8, low so far 29.4....say 10000 shares, that's four thousand bucks:)
     
  8. Mecro

    Mecro

    BS

    It's simple laws of averages.

    Most of these high volume stock specialists are pure assholes and absolutely hate day traders. The stocks are also too volatile and it's hard to know whats going on most of the time. There is too much competition. Just look at their choppy charts, they are ridiculous. That specialist does whatever he wants because there will always be volume regardless. He is gonna screw everyone he can because he does not need you to make money. Actually I think the AOL guy knows that company is going downhill soon so he is trying to rake in as much as possible now.

    One that is just a complete dick is LLY. Even if you are on the right side of the trade, you are gonna get the worst fill. And if you are on the wrong side, you get demolished. So if you keep trading that stock, you are gonna lose, no matter how great of a trader you are.

    I prefer stocks 1mil daily volume or less. Some of these really illiquid will move hard on size that means absolute zero to the big stocks.
     
  9. This may help you.
    http://www.trade-ideas.com/GettingStarted.html?name=Scalp+Trader
     
  10. Mecro

    Mecro

    Oh yeah its so easy to get on the right side of GE with 10000 and hold through as he does his choppy moves to see yourself heavy in the red.
     
    #10     Aug 28, 2003