I would love to get 6 ~ 8 ticks, but sometimes it goes up like 5 ticks and turn around and hit my SL, which pissed me off. I do not know a way to tell when short term trend has stopped completely or not.
That is quite pessimistic!
I still believe that scalping is very doable because at least there are hedgers who do not really care about losing money in the market. Therefore, I believe that there are still dumb money or do not care money out there that I can somehow capitalize on. Feel free to...
Thanks guys, I am reading every posts that you guys are posting. I didn't expect this many replies. I really appreciate it!
I am still thinking what to do next week over this weekend.
Yes, I had success for quite a while but when volatility died, it got much harder so I was wondering what other people are doing in terms of trade management. Just looking to enhance what I am doing
Hello guys
I would like to scalp 4 ticks constantly on ES.
I always debated myself on what to do for stoploss.
Obviously, I will keep profit target at 4 ticks all the time.
Also I will keep stoploss at 4 ticks.
However, will it be more beneficial if I use trailstop instead of fixed 4 ticks...
Either this guy
http://www.bloomberg.com/news/articles/2014-09-25/mystery-man-moving-japan-made-more-than-1-million-trades
or
http://www.japanprobe.com/2008/05/20/takashi-kotegawa-bnf-super-day-trader/
Pick your favorite
I think people who claim that they can have an edge by looking at DOM are sales people who sell their products or services.
But who knows?
I am still learning everyday like yourself.
For DOM, just a lot of experience.
You simply can't learn by words. I probably read most of famous trading books out there, but non helped me out so I cannot recommend any.
Just like learning tennis for the first time, you just have to grab a racquet and swing at the ball. It wouldn't be a...
I think there is no right or wrong answer here. Just go after what you are good at. I tried many many strategies and theoratically 2 to 1 Risk Reward ratio was the best method since I only needed at least 35% winning rate to breakeven.However, it just did not fit to my style.
For DOM, in my...
I actually started with 2 point profit target with 1 point stoploss because on forums people always emphasize on larger reward risk ratio of at least 2 to 1. Sometimes it worked well sometimes it didn't. I got pissed off on trades where I was up 3 ~ 7 ticks then suddenly it reverses and hit my...