Am I scalping?

[Liquid validity]

What he is driving at is that glorified coin flip methodologies are not the only way of trading.

NT is saying that other methods such as sitting on your hands and waiting for no
brainer events are more certain.
A very good method BTW.

Of course that does ignore the fact that you have to be mentally capable of doing that.
If you aren't , the most likely outcome would be loss.

Pretty much one of the reasons I posted this set of videos:
http://www.trade2win.com/boards/general-trading-chat/135172-we-arent-all-same.html
Most of it it basic stuff, 1st vid does highlight matching personality type to method.

Thread title says it all...

 

[Splitlink]

What he is driving at is that glorified coin flip methodologies are not the only way of trading.

Thread title says it all...

Thanks for that. I'm halfway through the second one---it will take me a few days, but very interesting and worth the time. I have one of his on my shelf,"Schlager on Futeres- TA" Full of charts and explanations. He is non.commital on whether they work or not, As he says, everyone is different.

 

[maxima]

I hope you stopped the experiments with the scalping. i know trading can make you feel busy and involved (compared to sitting on a bench).... but it is still an illusion.

 

[Splitlink]

I hope you stopped the experiments with the scalping. i know trading can make you feel busy and involved (compared to sitting on a bench).... but it is still an illusion.

I never was a scalper but have always been a short term trader. I think that that is a viable occupation. There is a good short trade on FTSE this morning. Plenty of points in that for a morning's work, but I have a feeling that posters confuse very short term trading for a few points, with scalping.

I started this thread with the title question because I do follow a thread that, I believe, confuses the two in this way.

A scalper does hundreds of trades per week. I want one per half session. Quite often, I don't get it but that is my aim.

Thanks for your comment. Agreed except for the sitting on a bench part. At my age you have to keep moving just to stay in the same place!

 

[new_trader]

I never was a scalper but have always been a short term trader. I think that that is a viable occupation. There is a good short trade on FTSE this morning. Plenty of points in that for a morning's work, but I have a feeling that posters confuse very short term trading for a few points, with scalping.

I started this thread with the title question because I do follow a thread that, I believe, confuses the two in this way.

A scalper does hundreds of trades per week. I want one per half session. Quite often, I don't get it but that is my aim.

Thanks for your comment. Agreed except for the sitting on a bench part. At my age you have to keep moving just to stay in the same place!

I'm not even sure if the true definition of scalper includes the number of trades. Taking a small quick profit is enough for me. If that is what you are doing then you are scalping. The purists would argue that scalping is trading the small price gaps created by the bid-ask spread, but I bet they don't use the word 'gay' to express their feelings of happiness.

 

[Splitlink]

I'm not even sure if the true definition of scalper includes the number of trades. Taking a small quick profit is enough for me. If that is what you are doing then you are scalping. The purists would argue that scalping is trading the small price gaps created by the bid-ask spread, but I bet they don't use the word 'gay' to express their feelings of happiness.

I'm sure that you are right. Sometimes I take a quick loss so as not to take a bigger one, so perhaps,if I have a bad day, I could call myself a scalper by necessity.

 

[maxima]

I'm sure that you are right. Sometimes I take a quick loss so as not to take a bigger one, so perhaps,if I have a bad day, I could call myself a scalper by necessity.

did you try to call a hooker instead?

 

[VinayakM]

Anytime you to try make small profits, you are scalping. It is a good strategy if used prudently as many large gains can be made. But one has to be careful that big losses don't occur. The way to prevent this sort of a situation is to employ an effective exit strategy.

Lower exposure, lower risk

Scalpers have lower exposure and lower risks. Since they don't hold positions overnight and only have positions held for a relatively small time frame, there is less risk involved when scalping.

Small-capital traders who aspire to move smaller volumes a lot more are essentially scalpers.

One big advantage with scalping is that it looks to capture smaller moves which happen frequently.

 

[radex78]

I'm not even sure if the true definition of scalper includes the number of trades. Taking a small quick profit is enough for me. If that is what you are doing then you are scalping. The purists would argue that scalping is trading the small price gaps created by the bid-ask spread, but I bet they don't use the word 'gay' to express their feelings of happiness.

Yes scalping take profit small pips, this short term trading, but because scalping take small profit hence possible they making many trades in daily trading, there are certain contest for scalping which as winner is they that making bigger number trades

 

[Splitlink]

Well. this thread has been resucitated after more than four years! I hope that all the posters on it are all well. I have not got around to park becnches, yet. In fact, nothing much has changed.

 

[Mr Sept]

Wash, Repeat and Enjoy it

 

[Reds28]

One of my strategies using entries on the hourly and the 15 min charts I am finding myself having really good entries. They are often moving in my direction for like 20-35 pips on the hourly and 7-12 pips on the 15mins but many of the trades are not going on to hit the profit target. They are either coming back to hit the stop or break even (if I've moved stop loss to BE). Should I start scalping these instead. Say 20 to 30 pips on the hourly and 10 to 15 pips on the 15 mins? My logic is that you need regular 1:2, 1:3 and even a few 1:4, 1:5 risk reward to win in the long run. I know I can be profitable with 1:1 if I have say 60% winning trades but I like to have a few big wins to compensate for a bad run that will almost be inevitable. I am also hearing more people say below the daily is mostly noise. To improve chances of trades working out, you need to trade the daily or higher.

 

[radex78]

Yes if any scalping trader want to use risk reward ratio 1:1 hence they must can making more winning trades than loss tardes, and this is still good if they can discipline in trading rules, if trader use more risk reerward ratio 1:2 or more, the problem might if trend market move on range with upside movement it will often fail, but once profit can being good profit also

 

[Reds28]

I find on the 15 min chart they are more likely to hit 1:1 then the hour chart, provided you have equally good entry on the two. Making a move of 10 or 15 pips is not as difficult as 40 or 50 pips. I think if you want to make 50 pips or more you need to trade the daily.

 

[NVP]

Yes you are scalping. Scalping is more determined by the number of trades being made per day.

scalping is very short term trading on ultra low TF's ............I am constantly corrected by people here regarding my style .......so thought i'd chip in

 

[Splitlink]

scalping is very short term trading on ultra low TF's ............I am constantly corrected by people here regarding my style .......so thought i'd chip in

IOW, not for retired folk who have a crime novel on their lap.

 

[Mr Sept]

One of my strategies using entries on the hourly and the 15 min charts I am finding myself having really good entries. They are often moving in my direction for like 20-35 pips on the hourly and 7-12 pips on the 15mins but many of the trades are not going on to hit the profit target. They are either coming back to hit the stop or break even (if I've moved stop loss to BE). Should I start scalping these instead. Say 20 to 30 pips on the hourly and 10 to 15 pips on the 15 mins? My logic is that you need regular 1:2, 1:3 and even a few 1:4, 1:5 risk reward to win in the long run. I know I can be profitable with 1:1 if I have say 60% winning trades but I like to have a few big wins to compensate for a bad run that will almost be inevitable. I am also hearing more people say below the daily is mostly noise. To improve chances of trades working out, you need to trade the daily or higher.

Do you go to a concert to see the people or to listen to the music......

Below 'the daily' is what you want it to be, if that means profitability, that is where you should be trading. As to the Risk Reward ratios 1:1 should still stand. When re-adjusting your stop you should use the Oblique trendline off the Tops ( when going Short) to give you your stop level, rather than going straight to the Br.Ev. level, in this way you won't be stopped so often, but you will need to sweat it out a little longer...........
For your guide my Win/Loss ratio is below 50%.
Good hunting.

 

[NVP]

IOW, not for retired folk who have a crime novel on their lap.

trading on 1min or faster tics with average trade durations of 2-3mins is NOT for the faint hearted ........

I got back in saddle this morning after 2 weeks off and was way off the pace for an hour or so............jees you need to be always doing this stuff

picking up pace tomorrow though

N

 

[NVP]

One of my strategies using entries on the hourly and the 15 min charts I am finding myself having really good entries. They are often moving in my direction for like 20-35 pips on the hourly and 7-12 pips on the 15mins but many of the trades are not going on to hit the profit target. They are either coming back to hit the stop or break even (if I've moved stop loss to BE). Should I start scalping these instead. Say 20 to 30 pips on the hourly and 10 to 15 pips on the 15 mins? My logic is that you need regular 1:2, 1:3 and even a few 1:4, 1:5 risk reward to win in the long run. I know I can be profitable with 1:1 if I have say 60% winning trades but I like to have a few big wins to compensate for a bad run that will almost be inevitable. I am also hearing more people say below the daily is mostly noise. To improve chances of trades working out, you need to trade the daily or higher.

why does everyone get so concerned with RR ratios ?

see trade / signal / pattern
see Stop level
trade
repeat

if you get a 3:1 then well done .......do you truly believe you have control over that vs a 2:1 or a 5:1 ......truly ?

control what you can .........then ride the rest ....this is trading :smart:

N

 

[Oscar Reed]

trading on 1min or faster tics with average trade durations of 2-3mins is NOT for the faint hearted ........

I got back in saddle this morning after 2 weeks off and was way off the pace for an hour or so............jees you need to be always doing this stuff

picking up pace tomorrow though

N

Down 3K at the mo
Was down 7k
Think I be working for Mr Market for the rest of the week.