Quote from austinp:
<i>"I guess scalping for 3 to 4 ticks CAN pay off handsomely and made my original quest for the holy grail a little bit more validated..."</i>
How do you figure that? Your original thread had nothing to do with scalping for 3 - 4 ticks... it was specific to 1/4 (0.25pt) ES or one single tick.
You proposed buying the bid / selling ask and vice versa. Correct, or have I forgotten the topic after all this time?
I'm still on record that trying to scalp 1/4pt ES profitably over time is impossible for retail traders. What someone does for several ticks in any market is outside the topic at hand.
May I inquire what would make this 1/4pt ES scalping any more viable than your current method of scale trading in the first place?
You are absolutely right, my method was for 1/4 point which is one tick on ES. What I am arguing for is the idea behind it. Namely, that in order to be successful, one needs to try to catch big movements in the market. Jumps of minimum 2 point and ideally 5 to 10 points to have a winning strategy and profitability. While I do not negate that it is a method to successfully make money as proven by you and many others who regularly post on ET ( ES Journal to be more specific), there are other alternatives to make $$$$ fromthe market. Granted flipper's technique is nt the same as my 1/4 point idea was, but it is in the same area of thinking. I was originally asking if profit can be made on 1/4 point, he is doing it with 3 to 4 ticks of profit at a time. This is what the MAN states:
Q: you are known as the orderbook-scalper, could you please explain to our readers what you are doing and what your strategies look like? what is your tactic?
A: it's some kind of market making where you place buy and sell orders simultaneously, making very short-term trading decisions
Now, do you see any similarities between what I stated and what this gentleman has been doing for past 10 years rather successfully I might add? Granted, it is not the same thing I was doing but the philosophy behind it is strikingly similar. This is precisely what I wanted other Et'ers to acknowledge.
As for my current way of trading (scaling in countertrend). That is another entirely different matter and totally not related to the 1/4 philosophy of mine. However .... since you asked .... So far, it is making me money. Basically I am selling tops and buying bottoms, except that my net is a bit wider and hence carries more risk. I am currently working on the risk factor since I dislike being down 50 points on the ES from time to time. However, the rewards are there. I made 3K today risking about 2k on that particular trade. I am not pleased with my RR, but like I said before, I am working on it.
I hope you are not insinuating that my 1/4 method and my scaling in countertrend method are both in the same trading lala land? While I do contend that 1/4 way is not viable in its original form, I think my countertrend scaling in way is viable.
