somebody who works for Crabel once told me that scalping does not make money. I have no idea what definition of scalping he used and what sort of data he had to back up his assertion.
I noticed your recent results which are actually scalping: 20K shares to get about a dime from SPY. To get a dime from SPY is roughly equal to get two or three cents from MSFT or INTC. That's scalping.
These are bottom feeders. Trading for 10 cents 20 cent scalps. in an out hampering natural rhythms of price movement with those meaningless orders floating. These are a bunch of hyena pups tearing away at dead carcasses..
you are just jealous that you cant compound your money as fast as I can. Call it whatever you want, wont change the fact that I can make more money and faster than you can. sure, scalping will kill certain peoples accounts but once you know HOW to scalp correctly, its like taking candy from a baby.
How do you think do the guys at Merrill, Goldman Sachs, or Bear Stearns make their income? Are you really sure these guys are all long-term investors?
They make money with upgrades and downgrades, planting stories and fooling you all day. Maybe they scalp who knows and they are a bunch of shysters anyway. They have been in this game longer than you have.
LOL, I've been wondering for awhile what would smoke me out of the bushes to make my first post - figured it would be either an extreme case of inspiration or idiocy. Congratulations - you broke my cherry by serving up the most inspired example of idiocy I've seen in the few years I've been lurking. I scalp a specific eMini, know the charts inside and out, use 3 timeframes and am usually in and out from 30 seconds to 3 minutes. I net more than $1000/day - sometimes a lot more depending on how risk-adverse I feel due to a few directional or choppy indices. I know that's chickenfeed to the serious traders here - but probably not you. Again, congratulations on achieving true insipid imbecile status. You can flame me all you want, I'm back into the bushes, reading/learning from people a lot more successful and intelligent than I am whose contributions here are greatly appreciated..(but probably not including YOU).
ONe reason the 'day trader (Scalping) off the floor. is not respect ed could be fact that any "YAHOO" can open an account with 2k and try to trade. Scalping on the floor may may not be"Looked Down" upon. However, most of your "floor traders" scalp. However, you must either belong to a SET Group or own a set to be on the floor. Just look at the basic CME Set prices and that will tell you why "Floor Scalpers" are far more respected, in a sense. Any "Yahoo" can daytrade. It doesn't take much capital. Shit, you can open a Forex account with 300 dollars. "DayTrading" has become "Cheapen", water down, "Socialized" in a sense. Also, the imagies of "Fraud", Manipulation, front running etc that the Media brings to the attention of the "SHEEOPLE" does not help. Even the fucking pathetic socialist on ET, fool themselves into thinking that they too can make a living daytrading a 2k account. Much like the Reputation of "Elite" Universities vrs some shit State School. Same logic, same kind of animal. Of course there are exceptions to the rule. There are some very successful daytraders turned "Fund Managers". But less attention is brought to the successful and more to the "loosers", the idiots, the pathetic. Also, "ENVY" plays a big part. Those fat, disgusting "DESK" Traders taking orders from some Balding Corporate Jock in the back office of what to trade and what not to trade. Like a little bitch. The desk trader who is unable to act on free will. Also, the idiots in the "Expensive" suites who lick each others asses in Board Rooms and IB/ M&A meetings. The "collective" baboons who run around making mistakes and getting paid for them. So, who cares what one thinks or what the "collective" think about what you do for a living. WHO THE FUCK CARES. The best way to beat the "Collective" and Popular opinion is wallop in success, far beyond the reach and thoughts of the masses. If you want fame, Go on some reality tv show and try to win a Million by telling your "WIFE" that you'r fucking gay and like liking the ASS of Men at your "Office" gym. There ya go, you are now POPULAR TO THE MASS WHO ARE ASSES and will be respected at all the "Get togethers". Hell, you will not have to tell them what you do for a living, the whole world will know you LICK ASS. :eek: