A visual aid. What scalping futures looks like.

Quote from ig0r:

lol I'd love to hear why you loaded up shorts for that number like that
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I'm not sure what you are talking about. The video I posted today had nothing to do with the trades following the employment report on Friday. I think I was only short 5 at one point.

Are you refering to the video that was title max position trade? That was from Thursady and had nothing to do with any #'s coming out. I will give an explaination for that trade when I get a chance to creat a video. I said I would do it this wekend, but I was busy.
 
Quote from trader151:

Here are a few trades from friday after the release of the employment report.

The entries were good however I could've taken them for longer rides and taken more out.



Here is the link: http://www.youtube.com/watch?v=PS8uBho4nxs
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Hi t151, thanks for the video.

The transaction list in the end is not very easy to see, but I think you are selling while the spike is still rising, is that correct? I always assumed that scalping style would be to limit-open and expect the move almost immediately in your favour and, if not, close out fast. In you case you don't close out but add shorts.

Is that indeed your style and how sure are you that the spike will subdue, when would you bail out if it didn't. Does that happen often?

Thanks again,

Ursa..
 
Quote from MajorUrsa:

Hi t151, thanks for the video.

The transaction list in the end is not very easy to see, but I think you are selling while the spike is still rising, is that correct? I always assumed that scalping style would be to limit-open and expect the move almost immediately in your favour and, if not, close out fast. In you case you don't close out but add shorts.

Is that indeed your style and how sure are you that the spike will subdue, when would you bail out if it didn't. Does that happen often?

Thanks again,

Ursa..
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Would like to know too.

Thanks
 
Are you using TT for trading and Esignal for charts? Are those basically the best tools you've found?
I've been using a combination of Ninja, Quotetrader and Quotetracker, but I just trade at work and home as a distraction.
Anyway, thanks for posting these vids, add more!
 
Well...how many times have you entered long, watched the price spike in your direction...you are sitting on a nice profit, price hesitates, but you are convinced that it's going higher and the retracement is going to be a minor one....the price comes down to within two points from your entry and you decide you better exit before the loss comes!!.....he is the smart guy on the other side....LOL.
I can tell you this senario has happened to me a lot more times than the price continuing on to higher highs :)
Thank you for the videos.
 
Quote from MajorUrsa:

Hi t151, thanks for the video.

The transaction list in the end is not very easy to see, but I think you are selling while the spike is still rising, is that correct? I always assumed that scalping style would be to limit-open and expect the move almost immediately in your favour and, if not, close out fast. In you case you don't close out but add shorts.

Is that indeed your style and how sure are you that the spike will subdue, when would you bail out if it didn't. Does that happen often?

Thanks again,

Ursa..
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I trade my way, I would consider it a scalping method, there are no restrictions on this like limit open and go my way immediately. I'm usually in a trade for less then a couple minutes that is why i consider myself a scalper. Sometimes I see something that makes me hold a trade longer or even add to at times this doesn't mean the basis for my trading is not a scalping foundation.




I sold into the spike becuase it looked like people who shorted the DAX on the release got stuck as the ES didn't break and went higher initially. The shorts were going to panic as the Dax took out the high. The ES didn't go higher with the Dax on the DAX spike. So the "50"level (7550) was a round # that I though anyone who also though the spike was b.s. would be clustering limit sells around as well.

I would've got out if the ES started to go higher or if the DAX "held a trade above 7555, or if we just started to sit around the 7550 level and not come off.
 
Quote from frank_london:

any more vids?
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I've had several pm's inquiring about the same thing. My answer is yes I will, but they will be at my convenience. Adding sound and composing the videos the explain what I was doing or thinking takes time, more then most people realize. Maybe i'm not that proficient at the recording software yet, but thats just the fact of the matter, it takes time.

I could post videos of trading and no sound with ease, when i try to explain things it takes me a while to make the videos.
 
Great thread.

One q though.

I was following a gentleman in a room a few months ago (you are obviously not him due to the voice and the instrument you trade) who would be very consistent for weeks at a time, but he wouldn't cut his losses on a trending day. He would subsequently give up more than the previous few weeks profits in a couple of hours. It was painful to watch, but at least he would tell the people in the room not to follow him after certain perameters were met.

My point is this. At what point do you cut your loss?

At one point in the first vid toward the end, I noticed you bid at minor support, and once the DAX broke that support, you not only cut your loss, but you actually reversed and went short and made some money. Is this a correct assessment? Either way, very nice trade in the end.

But in a previous post, you mentioned that you may add to a small loser if you still have convictions that the trade will work. I'm just wondering where you say uncle and get out.

Thanks again for the thread.

[edit] Nevermind. I re-read your previous post about adding to positions and cutting losses and look forward to your next vid.

I hate to say it, but I'm hoping to learn how you handle a tough day.
 
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