Futures Scalping

Not an unreasonable definition. But I think 6 ticks or less is probably better in ES. Given that a scalper's objective is to cash out before much of a trade back lots of guys will think two points a bit rich.


Quote from tomahawk:

I'll say it again. We need to clearly define "scalping" or none of this discussion has much meaning.

To me scalping is a target of less than 2 points (ES).
 
Quote from Swan Noir:

Not an unreasonable definition. But I think 6 ticks or less is probably better in ES. Given that a scalper's objective is to cash out before much of a trade back lots of guys will think two points a bit rich.

6 ticks, 7 ticks ... BELOW 2 points basically. :)
 
Quote from Ghost of Cutten:

For those who are interested in the potential for futures scalping, here are my stats from my futures scalping for 2009 so far, I've rounded down the numbers:

P&L: (up to Sep 17th 2009) $199k
Max drawdown: -$3,200
Average daily profit: $1,200
Losing days: 19
Winning days: 146
% winning days: 88%

Some people raise the issue of commissions. Here are my commissions stats (rounded up):

Total commissions for 2009 to date: $24,500
Commissions as a % of P&L: 12.3%

I won't disclose my commission per R/T as it may allow inference as to what markets I trade, and I don't wish to encourage competition. However, I am not paying rock-bottom commission rates as I don't do high volume. My commissions are available for any full-time trader doing moderate volume.

This refutes the claims that consistent profitable futures scalping is impossible or pointless, or that you will be eaten alive by commissions or algos. There are algos in the markets I trade, they compete for edge but do not eliminate profitable trading opportunities.

Bear in mind I position trade as well so I am not a full-time 100% dedicated scalper. 2009 has also been a relatively quiet year with declining volatility and so my scalping profits are quite a bit less than in 2008. A more dedicated full-time scalper of equal ability should outperform these results by a fair margin.

N.B. I will not make any response to questions about this post. I have presented true data from real life trading - draw such lessons as you wish.

Which future's markets do you scalp? I assume it's not ES or YM?
 
Quote from yacht trader:

Which future's markets do you scalp? I assume it's not ES or YM?
Had you taken the time and read closely you would see that he wrote:

I won't disclose my commission per R/T as it may allow inference as to what markets I trade, and I don't wish to encourage competition.

Having said that, the OP simply wanted advice on which platform is most optimal for scalping and the answers he received were bunch of lectures on the sins of scalping. How pertinent!

Whereas my personal preference is concerned, it's not what you trade but how you trade. These days, many platforms provide the convenience of automation that allows you the option to specify how many ticks or points you want for both stoploss and profit target.
 
ET is truly amazing ... some traders who failed at scalping find some success at a larger timeframe , whether moderate or wildly successful and therefore have set in stone that scalping cannot be done by the retail trader.

The reason, they tried, they failed, they are smarter than you, therefore it cannot be done.

If ET has anything to offer is is that you should not blindly trust anyone who says what can and cannot be done trading.
 
Quote from tomahawk:

I'll say it again. We need to clearly define "scalping" or none of this discussion has much meaning.

To me scalping is a target of less than 2 points (ES).

Thank you. As you point out, there is no point in commenting unless you define what you mean by scalping, because there is not a universal definition accepted by all. I defined in my post what I considered to be scalping, i.e., ticks, not points, thus less than 4 ticks on the ES. I stand by my remarks which pertain to that definition. Tomahawk's point is well taken, the discussion is only meaningful in the context of the poster's definition of scalping.
 
Quote from Jack Nestle:

ET is truly amazing ... some traders who failed at scalping find some success at a larger timeframe , whether moderate or wildly successful and therefore have set in stone that scalping cannot be done by the retail trader.

The reason, they tried, they failed, they are smarter than you, therefore it cannot be done.

If ET has anything to offer is is that you should not blindly trust anyone who says what can and cannot be done trading.

+1
 
ghost of cutton said: .........>>>> I won't disclose my commission per R/T as it may allow inference as to what markets I trade, and I don't wish to encourage competition. However, I am not paying rock-bottom commission rates as I don't do high volume. My commissions are available for any full-time trader doing moderate volume.

This refutes the claims that consistent profitable futures scalping is impossible or pointless, or that you will be eaten alive by commissions or algos. There are algos in the markets I trade, they compete for edge but do not eliminate profitable trading opportunities.


Ha,ha,ha ...... In one sentence he says he doe's not wish to encourage competition. Then in the next sentence says......the competition is not eliminated by others.

I have no quarrel with the trading results, be it real or bogus, but the ego leaves one wondering. :cool:

Who actually believes any typed trading results in a forum?

Without good competition there would be no game.......now would there? You are full of shit. :cool:ps: HOG OUT!!!! :confused:
 
Quote from Jack Nestle:

ET is truly amazing ... some traders who failed at scalping find some success at a larger timeframe , whether moderate or wildly successful and therefore have set in stone that scalping cannot be done by the retail trader.

The reason, they tried, they failed, they are smarter than you, therefore it cannot be done.

If ET has anything to offer is is that you should not blindly trust anyone who says what can and cannot be done trading.

It depends on your definition of scalping. Depending on your definition of scalping, it can not be done successfully by the retail trader.
 
Thanks to piezoe, Swan Noir, and nitro for quantifying "scalping" in specific terms. Still would like to hear from John 47 and anyone else on their definition.
 
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