I agree with Mark's comments above, in addition I would say that you'll need more than one data vendor just in case things get out of sync.
You missed a spot. How and why do they get in? same entry point question I raise in another thread. I know many ways. how about one simple solid way.
Many traders have posted threads (in-depth) devoted to an entry signal. All you have to do is use ET search menu to find them (ones that you consider to be simple) or are you asking me to do the search for you. http://www.elitetrader.com/vb/search.php?s= Ok...I'll do it just this one time only for you. You mentioned in another thread you are interested in the following topics... * Breakouts I typed in Breakout Strategy in the above ET search. This thread should get you started in learning about Breakouts although there are many others... http://www.elitetrader.com/vb/showthread.php?s=&threadid=109634 * Candlesticks I found about 27 past Japanese Candlestick threads here at ET via the search link above but I have a bias towards my own thread on Hammer patterns. http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880 Note: I forgot the link to my own candlestick thread and had to use ET search to find it. Now you have some simple solid ways involving entry points (entry signals). All you need to do is read. If you think of any other topics like tape reading, DOM (market depth) et cetera... I recommend you use the search link. http://www.elitetrader.com/vb/search.php?s= If you don't want to search ET...there's google. http://www.google.com Once again, as a reminder, if those other topics I mentioned in my prior message in this thread aren't in place in your trading plan... Your entry signals are in trouble before you can execute a trade for scalping. Last of all, have you read Anekdoten thread... http://www.elitetrader.com/vb/showthread.php?s=&threadid=99283 It could be useful for you. Mark
As an aside, when does trading become scalping? Is there any fixed definition, based on timeframe or profit target?
The above that you mention is the kind of specific information we are all looking for. Have any others?
hi, i justed paper trading scalping 2 days ago too. But how do you get a chart that's less than 1 min? I use ThinkOrSwim desktop software, which from my understanding is designed for daytraders, but the charts they have only go down to 1 min. How do you to lower than 1 min interval? Even though i am just starting, already noticed the 1 min chart is not sufficient as the quote box(is that what you call tape?) moves wildly at times while the chart doesnt since 1 min has not passed yet. thanks
There's different chart vendors that offers those types of charts (e.g. sierra, investor/rt, tradestation et cetera). I don't know anything about ThinkOrSwim. Thus, you should call their tech department to find out if the software has that capabilities or a list of third party vendors that works with ThinkOrSwim software. Tape is the different levels of Asks/Bids/Sales. Mark
here is another tip: If you are trying to scalp on 1 minute charts, you will have a hell of a time trying to overcome commissions, slippage, trading errors, and other trading costs. You are paying as much as someone who holds trades for weeks. Trade up to a somewhat larger time scale.