Best Thread 55000 % in ONE month !

[BSD]

Well like I said don't want to explain his method but comparatively speaking these trades of his capture some pretty good runs on a 10 sec chart for a scalping system I'd say:

Btw, at the mo the spread is 1 pip on the live platform for usd/jpy.

 

[BSD]

That chart really looks like classic momentum trading btw.

The way I understand momentum is that the basic driver is the same as with trend trading, ie you buy when it goes up, and short when it goes down, but momentum only tries to capture the initial burst or first swing if you will and exits at the first sign of weakness, whereas trend trading holds through higher lows being made in an uptrend as well and vice versa for downtrends.

Overall two of the most net profitable methiods out there, simple, robust, and aligned with the way markets move in cycles.

 

[UKtradergirl]

This thread inspired me to have a go at scalping. So, i tried it out on my 'day trading' account (where i normally hold trades for a few hours at least).

Well... i made 20 trades this morning and doubled my account (well, almost doubled- about £30 off doubling infact) :-0. Admittedly it was only a small account but i'm extremely shocked. Just good luck maybe!? Even more shocking was the fact that i was doing it through a SB company, hehe. I was using a 1 minute chart, as 10 seconds is too fast for my brain to calculate.

Anyway i'm not going to get too excited, only excited enough to investigate further and see if i can replicate the results. But now my account is doubled i'm not going to aim for doubling it again so quickly! Instead of doubling my position size i'm going to just increase it slightly- my heart can't cope with any more.

+

Welcome to the board Magellan and look forward to seeing you post on here. You are an inspiration

 

[JTrader]

problem with momentum is, once you've recognised - yes price is going up/down - by the time you do something about it, it can be too late!!!!!

 

[BSD]

keep this and you'll be a millionaire by tuesday!

I think there are three issues that make things a bit harder...

;-)

At some point people start seeing real money as opposed to more neutral percentages, as in that amount I'm up or down or whatever right now is worth a good meal, good watch, good holiday, good car, etc, etc, and then they start breaking their rules, holding a losing trade longer than they should, hoping it will turn around, while pocketing a winner too quickly...

then there will always be the odd chop-chop days where you will be giving back to other peoples pockets...

and finally liquidity will start making things harder at some point for the scalper, and actually make continued compounding impossible eventually.

Although to be honest thats at a level that to all intents and purposes can satisfy pretty much every demand under the sun already I'd say.

EG see some of trader dantes prop trading colleagues who started with zero and now have tens of millions.

 

[BSD]

problem with momentum is, once you've recognised - yes price is going up/down - by the time you do something about it, it can be too late!!!!!

Gotta be quick with that, quite agree.

 

[Jaydee]

problem with momentum is, once you've recognised - yes price is going up/down - by the time you do something about it, it can be too late!!!!!

This is exactly where ticker and L2 views can be very useful. You can get far more 'feel' for momentum when you can judge the speed and size of the aggressive orders firing through.

 

[BSD]

Hope you keep it up Donna.

Actually thats whats good about a thread like this or rather Magellans performance, it takes some things out of the realm of myths or at least the totally unknown, and puts it firmly in the public domain.

If ypu're sitting next to one of Trade Dantes scalping colleagues in his firm and know how much they pulled home last year that makes you so much more confident to give it a try yourself, than if you just read something from an anonymous board member, and the same goes for the results of a public trading challenge run by a big bank.

It's quite simply tremendously confidence instilling.

And a result of that is what UKtradergirl did today, or what many new colleagues of TD do when they start out there.

 

[BSD]

True J.

Btw, as a quick reminder...

One does not need to bet the ranch to achieve some outstanding returns, no matter if one is a scalper, day-, swing-, or position trader !!!

http://www.trade2win.com/boards/gen...how-easily-make-1000-per-year.html#post542826

Risking 1% per trade can get you very far ahead already in trading with really a very overseeable risk.

Every single trading method and / or every single trader will go through rough patches, but limiting your risk is THE secret to your longevity, and being abslt to stick around long enough to reap your rewards !!!

 

[Fortune500]

If ypu're sitting next to one of Trade Dantes scalping colleagues in his firm and know how much they pulled home last year that makes you so much more confident to give it a try yourself...

Realistically, how much do these guys make, and on what bank?

 

[BSD]

Well you'd need to ask TD what his colleagues set ups at his prop firm look like and what they make, but for example I'm aware of some guys with self-funding arrangements at prop firms where at the lower end they put up like 25K or 50K and then make around 20 -50% / month off of that.

Some put up higher sums and accordingly make more.

Scalping like this can net you several million / year.

 

[BSD]

I've seen a couple of people go from a zero balance account to over tens of millions. And keep it.

Using, yes, you guessed it: support and resistance.

Don't believe anyone that tells you it cannot be done.

http://www.trade2win.com/boards/for...here-made-1-million-trading-6.html#post564672

 

[lote_tree]

Scalping takes way too much energy. Even the 23 minutes I just spent is way too much for me. But ok, may be I was exaggerating a little bit when I said i'd get slaughtered. .

Scalping isn't my style because I'm lazy but if you want to make money you can do without a doubt.

Regards

LT

 

[Fortune500]

Surely if you could do that constantly you'd be rich beyond my wildest dreams?

 

[JTrader]

Scalping takes way too much energy. Even the 23 minutes I just spent is way too much for me. But ok, may be I was exaggerating a little bit when I said i'd get slaughtered. .

Scalping isn't my style because I'm lazy but if you want to make money you can do without a doubt.

Regards

LT

For me, yours, and magellans scalping trade volume equates to "hyper" scalping.

Scalping for me, is anything like 10+ or so trades in a 4 hour trading session.

 

[lote_tree]

Surely if you could do that constantly you'd be rich beyond my wildest dreams?

It's not the money, it's loving what you do. Find and then stick to what you're most comfortable with. The money will take care of itself. I only position trade now because that's what I love.

For me, yours, and magellans scalping trade volume equates to "hyper" scalping.

Scalping for me, is anything like 10+ or so trades in a 4 hour trading session.

If you enjoy what you're doing and you make good money from it then keep doing it mate. "Hyperscalping" isn't for everyone.

LT

 

[JTrader]

It's not the money, it's loving what you do. Find and then stick to what you're most comfortable with. The money will take care of itself. I only position trade now because that's what I love.



If you enjoy what you're doing and you make good money from it then keep doing it mate. "Hyperscalping" isn't for everyone.

LT

though if we could all make 5000% per month - it should be! in 23 minutes! if only conditions were perfect all the time!

 

[Fortune500]

It's not the money, it's loving what you do.

But if you can make that much money in 23 minutes then surely "screw" the liking and disliking: make a killing now and retire to a beach in 12 months to recover from a wholly unsatisfactory experience?

 

[lote_tree]

But if you can make that much money in 23 minutes then surely "screw" the liking and disliking: make a killing now and retire to a beach in 12 months to recover from a wholly unsatisfactory experience?

There are easier ways to make a killing. You're probably going to get sick of me saying this but make sure you find a way of making a killing that suits your psychology. I don't like scalping, period. It's just about being totally honest with yourself and knowing what you're suited to.

LT

 

[porph]

Good advice in my opinion. I started trading the longer timescales looking at position trading but I really didnt like it as I'm impatient at the best of times.

Now i tend to make anywhere from 1-15 trades per day held no longer than about 24-48 hours.