T-REX, man it's nice to see there's still some ace traders alive around here. Regarding your trade entries - Do you enter trades at market or do you wait for price to enter on discounts / use limit-orders to minimize stops/exposure? Personally, I am a scalper, too, but quite possibly I'm a lot more short-term and keying off different things. Yet I'd be interested to hear about your entries - And exits. What stops do you use? Cheers and Happy New Year's, Scientist.
Hello Scientist, Cheers and Happy New Year's 2 U 2. Thank you for your kind words. Re: market orders = I would only do a market order if my absolute life depended on it!!! I prefer buy/sell "stop limit" orders on entry and exits. I do however use buy/sell limits too. Re: $$$ management = I use (on 1 min charts). I will use a 2-3 point initial stop-loss. On swing trades I will use a much larger stop-loss i.e. 7.50+ points. Thank you.
thank you Magna. I don't know how the discussion turned to websites? I started this thread to teach my method of scalping with the 2 Bar Charlie. This is not a solicitation to offer paid subscriptions to any newsletter or service. I did offer a free "hotlist" to ET members only some time ago but I have since discontinued that offer. I'd rather stick to the topic at hand and post trades in this forum. thank you.
You don't use it, but it is part of the methodology? That makes it sound like you either don't follow the method, or you don't follow the whole method (thus making a new and slimmer version of the method). I'm a little confused, but what else is new.
Thank you for bringing that to my attention. that was a key error. I meant to type: SAR is "NOT" part of the methodology. It is too late for me to change it now. But for the record: CORRECTION: SAR is NOT part of the methodology!
Sometimes when I am in a hurry I forget to change the date on the Trading Plan. As you follow along it will become apparent what day I'm talking about. sorry for the confusion.
LOLOL! I can identify with that... For those prone to a market-order habit - Do the DAX for a while... Same order types here, only limit brackets (generally even for exit), but the 2-3 point initial loss seems like a severe tolerance, at least to me... Well. Different targets, different frequency, different game. Interesting thread, T-REX. Keep maulin' & rippin'!