There are many many ways to deal with the DOM. There are many many combinations of things that go with the DOM and the T&S. Lots and lots of "its" out there. No one knows how I trade. It is very difficult for one person to determine what another person is doing. The T&S and the DOM are very powerful. My comments will not ring a bell with very many people. We all know that. The DOM and T&S are counterintuitive, in my opinion. Just consider that this is a minority view logically speaking. What makes something right or wrong is never determined by my ways as a standard. How could it ever be? Someone told the person to whom I commented that in a while if he pursued his work, he would begin to do okay and would survive. He has a theme and it is not counterintuitive and it may work for him sometime in the future as suggested. He could, on the otherhand, just cut to the chase and use one or more of the many many ways that are successful. You can see that he doesn't want but one kind of input. That kind of input crossed with the many many ways of being successful is the null set. That is going to be the way it is for anyone who is oriented as you and he are. It is a decision that both of you are making and it is not a decision that comes up most of the time. How soon do you think a person could catch on to the games being played on DOM if he were watching a fast forward camtasia with stalagtites representing the the 10 volume values of the DOM? What would it look like if the "time to tic change" were showing too? What would it look like if the significant players were ID'ed? This is all drivel to you. Cool; put me on ignore.
You are so wrong. I didn't fail, I succeeded. Know how, I'll let you guess. Still unsure of how? I got you to keep 1 single post below 10,000 characters. And I don't need an e-board users approval to know I'm doing quite well and on the right track. You are the one that is failing, cause you can't confuse me with your drivel. :eek:
I feel there are a lot of misunderstandings about scalping. One of the key element of effective scalping is really about lowering risk by accurate entry. A good scalper should never have big losses, not to say blown out. Otherwise, there must be something wrong either with the method or the money/position management. No accurate entry, no scalping. It's that simple.
Pretty fair assesment. On the blowout I just mean people with small equity maxing out leverage going for the gusto. You swing for the fences and miss your gonna recoil and get hurt no matter how tight you think your stops are. Like you said, if your entry sucks you either need HUGE stops or you get stopped out often and lose many smaller times which = a big drawdown or blowout either way. When I'm below 80% accurate I get pissed, and even doing that pretty often I don't think I'm ready to go live based on my accuracy. But its only been 2-3 months of futures and 11 months overall market experience so I'm a rookie. My rule on paper which I'll use when live is 1 contract per $2500-$5000 on the YM or ES depending on how my streak is performing. Using more leverage when I'm on a roll and in the zone so to speak. Any to the point, successful traders have any insight for this noob? Thanks
An accurate entry and an accurate assessment of how many points one can take is a whole system. It is doable. I'm not saying it's the best trading method but a good plan today is better than a perfect plan tomorrow...
In case I failed to mention...my trading style is more scalping though I will hold for a short term daytrade if the range is there. It's all about what the market will give more than what I want.
jack- xxxx I know mcichocki personally and he is a very good trader...yes he has some issues to work out, but so does everyone. No one is perfect, not even you Mr. jack-ass. I don't know where you get off telling anyone they have failed? It must make you feel good to tear down newbs....I'm done my rant. so have a nice day P.S. Your still a jack-ass
LOL. If I didn't have issues to work out at 11 months into the market I'd be very very worried. But Jack has made the markets all so clear for ET and the world perhaps I could dominate the market after 11 months of mentoring with him. What could be conveyed in 1 paragraph he takes a novel to spit out. All by design, IMO. I really do think he could be a good trader trying to throw noob and others off the right path. But sadly Jack may be right, I might be failing at calling this correctly as well and he could be a ramblin man just the same.
Slippage is directly related to your broker and data fees, and the trading system one uses. If you scalp repeatedly for tiny gains, your slippage is certainly going to be higher. Likewise if you position trade and use loose stops your slippage will be significant as well.. as in LOSS.