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IMO today was the beginning of what will turn out to be a very dissapointing sucker rally. I just don't think these financial companies etc can be fixed by the gov throwing x amount of money at them. I also think that at some point the huge US debt and deficit and the resulting tax burden on...

Some nice consolidation patterns forming today, should get a big move one way or the other this afternoon. I'm hoping for down, but expecting up.

IMO the bottom that seems to be forming today will lead to a nice little rally that could last days or weeks, and we will probably all remember it as one of the greatest sucker rallies we have ever seen in our life. As soon as we have an up day the idiots on TV etc will get all optomistic...

I'm rooting for the great depression equivelent drop to 1400.

Did I miss a piece of news on this?

wow that graph is beyond sick. Our financial systems are a joke. Crash n burn baby.

Scalping the ES is a suckers game. It is simple math: Commission, $4 best case. Spread, you will be paying the spread every time you trade. 1 tick on entry, 1 on exit = $25. So you have a $29 house edge to overcome on every trade. Are you really that good? Can anyone be that...

I have yet to see a long term futures winner in the pl thread. Maybe futures traders are super shy and humble, and stock traders love to brag.

i can trade 100 shares of POT for 60 cents RT, and target a $100+ move all day long. It is easy to capture the spread on exit and entry on a winning trade, and get paid an ECN rebate. Trade 1 contract of ES for $4 RT, and pay the spread on entry and exit, for an additional $25 cost.

He looks like someone i would trust with 700 BLN.

This is how I have been scalping. I would love to see some other styles and feedback. I'll do some more charts periodically.

Stop losses, depends on the market. If a stock is shooting straight down and you nail a great short entry right after volume blowoff on a quick upmove, use a hard stop above the recent high. However if the market is drifty, be a little more flexible. Either ways using such a fast chart...

Here is the MOS 5 sec of the 9:25 action. Possible entries: RSI returns to 50 at 9:27 and 9:35, and RSI exceeds 70 at 9:42. A point to make here is that when RSI first returned to 50 at 9:32, you don't just blindly go short. Rather you watch the T+S and level 2 for it to slow down...

Now lets go to later in the day on MOS. The big move down has faded and we are chopping around. This is an ideal condition to look for RSI extremes on the 1 min. IN this case MOS didn't present any of those opportunities. So we can look for long tails on the 1 min. Here is MOS 1 min. 2...

Now here is the MOS action on 5 sec. See how around 633 RSI exceeds 70. Now we watch the tape and wait for some price rejection and then put in an offer to sell, maybe around 38.63. If the initial failure were missed you could put in an offer a few minutes later when RSI returns to 50, or...

Here is MOS action today. It opened under yesterdays low, and the market is tanking. Obviously we want to short.

Hi everybody! I am done trading today, so I though I would do my part to combat the ratio of crap to useful info on here. I'm hoping this thread can be a place to share ideas with other scalpers. Disclaimers: I don't clame to be an expert, but I am making money trading this way, and am...

It sounds like you have a job right now. If that is the case, great, keep it. Take your 5k and and do some research to pick a firm, and trade really really small with that 5k the first 2 hours of the day if your work schedule permits. THat is enough to learn, and a good starting point...

Sorry to say this... You will generally need to deposit 5k min to start. In your case that is your savings, which means you need an immediate income. That is about as guaranteed of a failure as it gets. Even if you got with a no-deposit firm like hold or swift that 5k would still be...

bright and echo both allow 10:1 overnight, bu you need a license and your own capital. There might be others, that is just off the top of my head.