Uh .. If by Scalping you mean hunting for ticks. Ok
But I target 2 Pts on ES. It is kind of scalping.
As a retail I am at 0.1% Cost/Return.
E-mini Nasdaq Pivots Scalping - 100% in 100 Days?
- Thread starter nasdaqscalper
- Start date
Uh .. If by Scalping you mean hunting for ticks. Ok
But I target 2 Pts on ES. It is kind of scalping.
As a retail I am at 0.1% Cost/Return.
We all do it, but the correct way is to trade the charts, and not be focused on $ amount - this of course does not mean that you never take your profit or loss early, what it means is that by focusing on $ amount you are missing out on maximising when momentum continues after an entry goes your way.
What it all boils down to, is, you can either understand charts, or you can not, and your results tell the truth, so, no good fooling yourself if you are not able to read charts correctly, as, one might then be better off not using them at all, and try a different approach like scalping using ladder (dome or booktrader) only.
Chart reading, the correct way, is not as easy as most think it is - it is always best to follow a defined scan process, from left to right, or top to bottom - let the flow guide you, and when in it, stay with it until it stops flowing - which is easy see by looking at those little things called bars.
J_S
let the "flow" be with you
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yes, I mean tics. Consider that most retail platforms will get you into the queue so late that you will on average give up two ticks per round trip. In other words, in general, you will be buying on the ask and selling on the bid. If you can consistently buy on the bid and sell on the ask, i.e., consistently catch market orders, you can scalp profitably. This is very difficult for a retail trader. Allowing for typical ES volatility and retail commissions, I consider a 5 tic target on the ES too small for consistent profit. Just my opinion though.
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We all do it, but the correct way is to trade the charts, and not be focused on $ amount - this of course does not mean that you never take your profit or loss early, what it means is that by focusing on $ amount you are missing out on maximising when momentum continues after an entry goes your way.
What it all boils down to, is, you can either understand charts, or you can not, and your results tell the truth, so, no good fooling yourself if you are not able to read charts correctly, as, one might then be better off not using them at all, and try a different approach like scalping using ladder (dome or booktrader) only.
Chart reading, the correct way, is not as easy as most think it is - it is always best to follow a defined scan process, from left to right, or top to bottom - let the flow guide you, and when in it, stay with it until it stops flowing - which is easy see by looking at those little things called bars.
J_S
let the "flow" be with you
View attachment 164658
By target 2Pts I meant Average expected volatility.
If I do not expect a move greater than two then I Fold.
You're right about Skills VS Procrustean beds. Totally agree.
It's the trader that has to fit the market. Certainly not the reverse.
So far so good. We made a profit of 300 dollars with 32 trades. The maximum drawdown is 155 dollars and the win rate is 62.5 percent.
Is that gross or net because 32 trades is maybe $3.00 RT if I am being generous and that means commission cost of $96 (and unless you are doing heavy volume I bet your cost is higher). So if net then your actual profit is a lot less.
Net PnL: 490 USD
PnL after comission: 305 USD
NinjaTraderBrokerage
