Thank you for your very helpful followup posts. I will study them carefully and see if some could be incorporated into my scalping. Best regards,
I am done for the day practicing on a SIM showing how I like to scalp. I took a few more trades after an interval from my earlier trades. As I mentioned in the previous video of today's session 1-6-2025 dynamics can change at any time. When I went outside to do a few things upon arriving back I saw that the previous SPBL trend on a 2m chart had indeed changed after my earlier trades. So now we were enterig a broad TR that had a fairly steep and tight bear channel. That dynamic caused me to then employ other techniques based on the new dynamics. Hope this video is for good entertainment and perhaps instructive on how I like to scalp when dynamics change. Enjoy and remember when learning PA trading practice makes perfect ...well not perfect...but closer to perfect LOL. However, that said a scalper needs to know "what" techniques to practice in order to get good at trading them. By far a think most traders learning a new technique never practice to enough to ever get good at it. There is a thing called persistence in trading. My motto would be "quitters never become winners over the long term." A famous trader once said: "Winners don't average down" or "losers average down." I don't remember exactly what he said but it was along those lines. And he was probably correct in saying that if one employed his way of trading. However, I trade differently, and I do in fact employ averaging down...scaling up...whittling down...grabbing quick profits...cutting winners short...hanging on to losers (up to a point.) I hear win rate doesn't matter. I beg to differ, it does matter in the way I like to trade. It is the most important metric for the way I scalp. I cannot lose by winning even if the win is small and if I have developed techniques to salvage a trade gone bad. But if I don't have techniques to get me out of a larger paper loss then it is probably better NOT to average down and better to not keep averaging down because sooner or later a BIG BIG loss will wipe several gains and can even result in a blown account. Done for the day. Disclaimer: All of these videos on this YouTube channel including this video below and the videos and screenshots posted earlier today in this thread on 1-6-2025 are for entertainment and information purpose only show how I like to scalp. I am not advising anyone to use these techniques. You may not get the same results as shown in all these videos and screenshots and you can even lose all your money plus more.
OK. I ask because some people get upset if they think another trader is attacking their strategy. You absolutely had it correct to exit the way you would have using your criteria. I hope my screenshots help explain why I would not have whittled down long on this trade.
Hello volpri, The famous traders talking that losers average down is idots. I add to ALL my losing trades and freaking love it. I can careless if I lose on a trade as well. You know what you are talking about @volpri. Do not change. I tried that dumb stupid swing trading crap and lost $25,000 cash in 2023. Swing trading, holding winners, and runners is stupid and dumb. Now I take them freaking profits without hesitation. I want the money, forget the famous traders, they just messing around.
I didn't trade any more (had no time to trade more) but here is what happened the rest of the session. I did widen the tight bear channel to better encapsulate PA. So I ended up with capturing 132.75 points in NQ. x $20.00 point had it been real money.
I had to guess if the TR would continue or if it would turn. Bet on it would continue. I could have bet on it going down as it looked like forming a wedge. But hindsight is 20/20. Anyway, I am going to leave you alone and have some peace. Cheers.
Dear Mr. Volpri, In the attached image, I saw 4 successful buy scalping. Then you stop in the buy side and change into the sell side. So, could you please give me some analysis of you for the switching in side? I could see that you sell at a rather "low" price. My analysis is like: Gap-up opening, a tight bull channel at the beginning but lack of strengh (as many bear bar, doji appear in that channel), a parabolic wedge at the top of the bull channel and then the price go south and cover the gap. The point is, I could only analysis AFTER the price is gone. So, my analysis become meaningless in actual trading.
Watch the videos. They explain things. Buy scalping is in video #2490. The sell scalps are in video #2493. Same session today's Jan 6 2025
I think I finally see how you average down. Tried it today with live trades. It worked but hell of a ride though. Thank you again!