any insights on how to trade just a few slow roundtrips daily (strategic, 1k-2k shares, vs dozens of fast scalps (tactical, 200-300shares, my approach)? i made $ trading fri, but wouldve made more with a few larger trades placed in the morning, then out at end of day, versus my dozens of small trades approach eg in uvxy:
Daytrading strategically vs tactically: # of trades vs size -- scalper's dilemma
- Thread starter KCalhoun
- Start date
I usually scalp a lot in choppy markets like these days wherein an up move this min turns into a down move in another min so I look to keep taking large size and scalp fast. When the market is more trending with a more clear direction up/down, then I like to hold a position for an hr or half a day basis the trend and the move of the particular stock I am in.
Try a 2 minute chart.
You will want to experiment, or better, backtest, but for starters try...
Use 1.5x your existing 1 minute stop triggers.
Use 2x your existing 1 minute take trigger.
You will want to experiment, or better, backtest, but for starters try...
Use 1.5x your existing 1 minute stop triggers.
Use 2x your existing 1 minute take trigger.
I'm doing it a dumb way.
I have software that is between me and my accounts. I simply enter and exit. The software scales my size up as I do well and scales down as I do poorly. So I don't choose my sizing.
I have software that is between me and my accounts. I simply enter and exit. The software scales my size up as I do well and scales down as I do poorly. So I don't choose my sizing.
I have 2 separate accounts for 2 different styles
me too, great idea, eg long term swing vs intraday
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Good one/\ blame it on software/LOL
ALL these ideas are good.
SORRY, KC your UVXY made a red topping tail today\on 4 hour charts /the good news its still up on 2 minute candles ,UP weekly, up daily, up green monthly charts+up green hourly charts/ start date DEC 31,2021.
I failed to get good fill last half hour on SH, strangely\which i found hard to believe /so got in SPXS again late ....................................................................................I dont regret 2 day trade on VXX / + dont regret flat @ end of day on VXX/today; even though it most likely finishes up Tues/not a prediction.
One problem with 4 hour charts\last 4 hour chart is not 4 hours/ i use 4 hours any way
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Good one/\ blame it on software/LOL
ALL these ideas are good.
SORRY, KC your UVXY made a red topping tail today\on 4 hour charts /the good news its still up on 2 minute candles ,UP weekly, up daily, up green monthly charts+up green hourly charts/ start date DEC 31,2021.
I failed to get good fill last half hour on SH, strangely\which i found hard to believe /so got in SPXS again late ....................................................................................I dont regret 2 day trade on VXX / + dont regret flat @ end of day on VXX/today; even though it most likely finishes up Tues/not a prediction.
One problem with 4 hour charts\last 4 hour chart is not 4 hours/ i use 4 hours any way
I sold near rollover top, rem to tighten trailing stops in case of midday reversals
I think your assumption is based on a "flat earth" concept of what is a trade. Sort of thinking that trading is based on filling a ticket, ala, circa 1950, and then it being filled and then exiting.
An Algo does not see trades that way. The only thing preventing you from trading multiple styles, multiple entry methods, multiple exit methods simultaneously is your human limitations.
So really what you are asking is which is best for your human limitation. Limitations here being speed and precision of analysis, speed and precision of execution, and minimizing the corresponding fatigue associated.
An Algo does not see trades that way. The only thing preventing you from trading multiple styles, multiple entry methods, multiple exit methods simultaneously is your human limitations.
So really what you are asking is which is best for your human limitation. Limitations here being speed and precision of analysis, speed and precision of execution, and minimizing the corresponding fatigue associated.
I'm going to go against the grain here and probably offend every day-trader.
Scalping doesn't return profits anymore these days. It USED to be a technique employed by FloorTraders where you traded a futures for only a tick-or-two. The reason it became profitable was because:
The retail trader has such an uphill battle in regards to all of those, that there isn't a way you're going to get rich doing this.
Scalping doesn't return profits anymore these days. It USED to be a technique employed by FloorTraders where you traded a futures for only a tick-or-two. The reason it became profitable was because:
- Traders on the Exchange floor had all fees/commissions rebated back to them.
- Effectively infinite margin to trade with.
- Ability to see/sense action heating up or cooling down long before anyone else did.
- Other shenanigans best not mentioned.
The retail trader has such an uphill battle in regards to all of those, that there isn't a way you're going to get rich doing this.