any scalpers?
- Thread starter MrScalper
- Start date
sorry didn't see this till now. Based on the ema should be short from 42.02 on 9/3 cover at around 41.80. I can't say about 9/4, a 2 minute chart is too short for me for an opening range trade and I feel it would be giving misinformation. Looks like false breakdown to 41.80 and then chopped around all day. Anyway not trying to prove the validity of a moving average system although if you are really good and can tape read you can make it profitable.
Quote from kinggyppo:
sorry didn't see this till now. Based on the ema should be short from 42.02 on 9/3 cover at around 41.80. I can't say about 9/4, a 2 minute chart is too short for me for an opening range trade and I feel it would be giving misinformation. Looks like false breakdown to 41.80 and then chopped around all day. Anyway not trying to prove the validity of a moving average system although if you are really good and can tape read you can make it profitable.
Do you mean tape reading combined with a moving average?
42.34 +0.23‎ (0.55%‎
4 Sep 16:00 ET42.35‎ +0.01‎ (0.02%‎
After HoursOpen: 42.33
High: 42.49
Low: 41.79
Volume: 21,880,108
Avg Vol: 79,016,000
Mkt Cap: 166.50B
tape reading is nothing more than watching live price and volume prints with a view to seeing if the printed prices are with large or small voulme and whether they are going off at the bid or ask - or outside the spread!
why so many make a big deal about it i will never know?
i have set up my personal data feed to graph all variables so that I can see much more than what is available on the T&S provided by the data providers
any person can do this once they have live data feed and access to the data via api or dde
sometimes it can be more beneficial to look at what most do not look at as if you follow what everyone else is doing then you can expect to get what everyone else gets
what i do may not suit anyone else and what i know is because of what i have done and how i have reacted in many different situations - this will be different for every person and understanding this is the first step to real progression as a full time trader
i am what i am and you are what you are - if you try and be what i am then you must live my life as i do each and every day and as this is not possible the best you can do is be what you are but understand that you do not have to put up with what you have as you can easily improve on what you have by common sense reasoning and some simple hard work - it is usually the hard work bit that catches most out as we have one of the laziest generations that has ever been on earth and the reasons are clearely seen by those that are not afraid of hard work!
It can be what ever one wants' it to be.
Many so called traders like to talk about trading and all the little "details" but some of us just sit down and trade certain stocks when the markets open.
One minute it might be 200 shares and a few minutes after it might be 2,000 or 5,000 or 50,000.
Contrary to what most think the best traders know how to lose small and win big but in order to do that you must first know what you are doing, again something that most talk about but very few can actually do.
I hope this is a clear answer?