mr_cassandra
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Imo there are several equally good ways to trade.
Properly done, scalping would surely be one of them. I'm probably at the other end of the spectrum with the program I write, making only several round trips per year.
Properly done, scalping would surely be one of them. I'm probably at the other end of the spectrum with the program I write, making only several round trips per year.
jimmy1 said:
TWI
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Trader333, Jun was a good month, April and May were not so good. Actually April was worst month I had in last year and that meant I covered all my costs but made +/- nothing on top. Market was quiet in April/May and I made a couple of volume trades that I should not have tried under those conditions.
Jimmy, I try no to take a view longer than the short term trend in the Bund. I try to not take direction into account much at all but if bund is strong I am less likely to be buying front spreads or selling backs or at least sitting on those bids and offers.
Jimmy, I try no to take a view longer than the short term trend in the Bund. I try to not take direction into account much at all but if bund is strong I am less likely to be buying front spreads or selling backs or at least sitting on those bids and offers.
jonnyy40 said:
Yes I bought it a few weeks ago and was disappointed with it. It didn't teach me anything I didn't already know. There is some stuff in there about level two and time and sales but nothing very in depth that inspired me to learn anything new. Your opinion may be different but I have subsequently learnt a better way of scalping then presented in this book so it depends what you are expecting I guess. My advice would be not to bother.
Mr. Charts
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Lots of interesting talk about "scalps", but here is an actual example this afternoon:
Shorted GILD 37.62
covered 37.42 three minutes later
for profit +20
Reasons were my own patterns and level 2 for the entry and the exit was reading the tape my own way. The latter suggested the down move had run out of steam - and it had because it bottomed at 37.41.
The point being that, imho, "scalping" successfully requires charting skills, pattern recognition, level 2 and reading the tape.
Richard
note: the first image is the exit, the second the entry
Shorted GILD 37.62
covered 37.42 three minutes later
for profit +20
Reasons were my own patterns and level 2 for the entry and the exit was reading the tape my own way. The latter suggested the down move had run out of steam - and it had because it bottomed at 37.41.
The point being that, imho, "scalping" successfully requires charting skills, pattern recognition, level 2 and reading the tape.
Richard
note: the first image is the exit, the second the entry
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TWI
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I think it really depends what you define as scalping.
When scalping intramarket or calendar spreads, you just decide the range from a glance at a short term chart, I use 5 min, sell the upside, buy the downside, try to take 1-2 tics on each trade. Balls determine the clip size.
No real charting skills, just a couple of mental levels will do,
no pattern recognition required ,
I do not even know what people mean by Level2 , is this depth?
What on Earth is "the tape"?
Just showing my general ignorance here but I hope the point is clear.
Skill is in finding the nice range bound spread to scalp.
When scalping intramarket or calendar spreads, you just decide the range from a glance at a short term chart, I use 5 min, sell the upside, buy the downside, try to take 1-2 tics on each trade. Balls determine the clip size.
No real charting skills, just a couple of mental levels will do,
no pattern recognition required ,
I do not even know what people mean by Level2 , is this depth?
What on Earth is "the tape"?
Just showing my general ignorance here but I hope the point is clear.
Skill is in finding the nice range bound spread to scalp.
