For me, a scalp is 1-2 points. RR must be at least 2:1. I get about 2 or 3 good setups per day, sometimes none. Size is the only way to make this one pay off. BTW, this is one of those rare, enjoyable threads around here. Too bad it's constantly sullied by one heckler. Oh well, I guess you can't have everything. Uni
1) On the non-scalping trades, I don't try and read her hand... instead, I prefer to let her take my hand and guide me... I have no specific points target, if I have been guided into a trade by Mother Market... I exit on a discretionary basis... 2) Positions can be established at any time of the day... 3) On scalps 0.75pt to 1pt is my stop... my profit targets are identical to whatever stop I got in on... on scalping I am proactive and set targets... 4) All intraday for ES...
Thanks Uni. This helps me relate what I am doing with my 2 point trades. My goal is to steadily increase my contract size as I earn the right by growing my account. I am a trading grasshopper, but am pretty good at catching the small moves. I am experienced to a degree, just been in the FOREX world for a while. Think GOD sent me there to learn my lessons painfully so I would respect this profession. Also, I tell my soccer team. "If you can't say something positive or constructive, don't say anything at all" But coach, he never passes the ball and always yells at us for doing the wrong thing. Just ignore him kids and make positive comments to help him. He's a good person, he just needs a little self-confidence. We went on to win a lot of games and this person became our captain and one of my best players. Some you ignore and they quit the team. Only that person knows what he/she wants out of life. We all control our own thoughts and deeds and this is our greatest gift.
Exactly! Many traders have tried a lot of trading techniques and failed ... and simply settled on something that worked. Find one that works for you ... and work it.