January 3, 2001. That was the day Mr. Magoo wanted to be a rock star and give the market a solo. I hopes he rots in hell! Where are the psychos when you need them? I still am throwing a party when that nincompoop dies. It is the least he can do for his country. I came back to look at the computer and assumed there was something was wrong with my feed. What the... To be fair, there were plenty of stops that got hit before lift off and if you were playing it tight you would not have gotten hurt. Oh well, live and learn. Albert
Scalping is by far the most profitable trading method out there of them all. It is also my preferred style of trading because it allows me to continuously use minuscule stops while using heavy contract sizes without having an aneurysm because the risk per play is relatively small. It's not unusual for a master scalper to obtain a daily trading outcome greater than the daily range although I've never seen it done on a consistently basis, day after day, often yes but not always. A good solid understanding of price action and tape reading is a complete must but I cannot think of any other trading method that can touch the profit potential of professional scalping while providing relatively small drawdowns. Anek
Totally agree. But my definition of scalping is not getting 2 ticks here and 2 ticks there. It is the ability by having a lot of precise entries turning probability towards yourself, withtight stops and letting the winning trades run. Most of my profits come from 3-6 trades where I let the winner run, the rest are few points lost or won.
Yes. If you are not a great scalper... Then you are not "trading"... you are investing. I'm sick and tired... Of people who stare at silly charts... Then do Grade 9 level analysis... Randomly pick stocks to invest in... And then come here and think they are "traders"... Turning this place into a worthless sh*t hole.
I've been working on a similar worksheet as the thread originator... it's about finding the sweet spot, fast enough bar interval so you get lots of trades and slow enough so your trades can develope to overcome costs.
Another advantage for scalping: Scalping can work at any market conditions, up, down, sideway... there are slow but no garbage days for a good scalper. I'm unaware of any other trading approaches other than scalping to be able to work at any market conditions with consistency.