Beautiful Scalper

[BeautifulStranger]

I have an inspiration to learn scalping after recently being exposed to new information that answered many long standing questions.

My plan is to paper trade to start and after I build up various skills, go live. The amount of time I can dedicate to this will vary considerably each day and I may be best served to do some practice on the weekend using recorded data.

Having scalping skills will be a nice tool to have for my overall trading methodology, but unless a become a full time trader, scalping will be used mainly for legging into my overnight option positions as time may allow during the trading day.

I will document my performance each day I scalp trade.

 

[Overnight]

I have an inspiration to learn scalping after recently being exposed to new information that answered many long standing questions.

My plan is to paper trade to start and after I build up various skills, go live. The amount of time I can dedicate to this will vary considerably each day and I may be best served to do some practice on the weekend using recorded data.

Having scalping skills will be a nice tool to have for my overall trading methodology, but unless a become a full time trader, scalping will be used mainly for legging into my overnight option positions as time may allow during the trading day.

I will document my performance each day I scalp trade.

Go live first, do sim later. Trust me on that.

 

[padutrader]

you are doing the right thing.

only 1% of the 5% profitable traders are profitable scalpers.

so it is the most difficult to do

i am assuming you are already trading for at least ten years

then it makes sense to try and learn scalping

 

[trader99]

I'm a scalper and now I make significantly more than my white collar tech job! But it took me thousands and thousands of hours to get to this stage. It's possible but not easy.

 

[BeautifulStranger]

Go live first, do sim later. Trust me on that.

I respect your opinions and am intrigued by your idea of starting out live. Any specific reasons why you feel that way that you would like to share?

 

[padutrader]

I'm a scalper and now I make significantly more than my white collar tech job! But it took me thousands and thousands of hours to get to this stage. It's possible but not easy.

did you start with scalping it self/

or did you learn trading other types like position swing etc

 

[padutrader]

if you cannot be profitable in sim you will never be profitable live.

but if you are profitable sim it does not mean you will be profitable live.

there are other challenges trading live

 

[BeautifulStranger]

you are doing the right thing.

only 1% of the 5% profitable traders are profitable scalpers.

so it is the most difficult to do

i am assuming you are already trading for at least ten years

then it makes sense to try and learn scalping

I would be curious to know a breakdown of these statistics according to professional experience in the industry, years trading experience, college education, prior occupational experience, IQ, and other trader attributes that have predictive value concerning future performance.

 

[BeautifulStranger]

I'm a scalper and now I make significantly more than my white collar tech job! But it took me thousands and thousands of hours to get to this stage. It's possible but not easy.

So I take it you are basically self-taught with no related professional experience in the financial industry?

 

[trader99]

So I take it you are basically self-taught with no related professional experience in the financial industry?

Actually, I had significant experience in the financial industry and academic training. Top tier education(both top undergrad and graduate level, etc.) When I was in the investment management industry, it was for long term investment funds who hold positions for months and years. That was in the beginning of my career. Then I switched industry and now work in tech industry.

To be honest, NONE of my financial industry and academic training actually made me good at scalping. So, in the end, it's self taught to become a good scalper. Scalping is a skill like playing sports or chess. You just need the experience to get good.

But some could argue that all of that helped me in some ways. Probably. But not as much as I think it would when it comes to scalping. For other types of trading, yes, my industry and academic training would be very useful.