Good books on futures daytrading/scalping?

Quote from Laissez Faire:

I may know a way into the Norwegian oil fund if you're interested.
Unless you are inside already, in at least a back office position, and ready, willing and able to betray your country, I'm not interested.
 
It gets awful tiresome to read about things I said that I never said. I never said or even infeered that you were lying. In fact it never crossed my mind. Don't you think if he had backtested stats he would have said so? Why make up what he might have? Better to work off what he has actually said and what I actually said.



Quote from wrbtrader:

First, read his commentary.

He specifically said he's been profitable for one week but only in a specific duration of time (3am - 8am) and not profitable in another specific duration of time (after the regular session start). I'm not lying about what he said. He really did say that.

My recommendation is summarized below just in case you didn't see it.

1) Keep using the method between 3am - 8am until the method stops working. Don't use the method after the regular trading session starts.

2) Via a reply to NoDoji...if the suggestion is that he get a new method for trading the regular trading session. That's a good suggestion after she recommend such via suggestion he read about some other method.

3) New trading books on futures daytrading/scalping not needed.

---------------------

I've specifically stated the above in this thread and you have now showed up to say the following...you can't draw any conclusions from his limited experience.

You suggesting he should stop trading from 3am - 8am that's been profitable so far because he only has one week of trading ?

You suggesting he should continue using the same method in the regular trading session that's been losing because he only has one week of trading ?

Think about the above very carefully before you reply to me and remember the goal is to be profitable. Now pretend you're the one that started trading back in 2006 and for the past 5 days you've been using a "new method" that's profitable for you in the first 15 minutes of the regular trading session and profitable in the last 15 minutes of the regular trading session...

What will you say if I tell you that your sample size of 5 days is absurd and you can't draw any conclusions ?

Will you stop using the trade method in the first/last 15 minutes of the regular trading session ?

Just to be clear, he never did say and I never said that his one week of using the method is all the information he needs. In contrast, I've stated if he has stats (as in backtesting) that tells him when he's profitable and when he's not profitable...don't fight the stats even if he's been trading the method (simulator or real-money) for 1 day, 5 days, 1 month, 1 year or 5 years. Keep trading it (making money) in that specific market condition until it stops working...that's my conclusion and suggestion.
 
Quote from Swan Noir:

It gets awful tiresome to read about things I said that I never said. I never said or even infeered that you were lying. In fact it never crossed my mind. Don't you think if he had backtested stats he would have said so? Why make up what he might have? Better to work off what he has actually said and what I actually said.

I didn't imply that you said that I was lying. Its a remark to reflect a fact about what he had said that he was profitable in the morning and not profitable in the regular session when the heavy volume shows up. In fact, he gave a little details about the time duration and type of volume...it would be rude of me to think that the stats he has so far is incorrect.

Thus, I can only go by the information he gives.

Don't you think if he had backtested stats he would have said so?

Many don't share their backtesting results until later in the conversation or in another discussion in another thread. The few that do share their results (except for the coders)...its primarily just generalities until someone shows up and ask for specific details. In fact, he did say the following in the below re-quotes and I highlighted the words I am and more in his quotes. Thus, I will assume that implies he's already done some testing and research prior to starting this thread.

Therefore, I don't need to "make up" what he has said. It's much easier to just re-quote him as I have been doing so far in this thread. :D

With that said, lets just agree not to continue beating the obvious facts and especially considering you decided not to answer my questions. Yet, you're welcome to continue this conversation with someone else about things he "did not" say considering you're ignoring the fact that I've been only discussing things he has "actually said" via re-quoting him. Seriously, I didn't make this up. Simply, I now consider this conversation to have concluded because my point has been made.

You get the last word in.

Quote from wartrace:

...I am currently paper trading my initial ideas. I do really well in the early morning (3am to 8am) but when the volume picks up I give it all back...
Quote from wartrace:

...I am testing however it doesn't seem to work in heavy volume. Since it doesn't seem to work I decided i need to do more research...
 
When you take a piece of my quote and follow it with this nonsense you are clearly implying I said you were lying. But that never was the case.


Quote from wrbtrader:

It's very simple...not complicated.

His method works during a specific 5 hour duration. I'm not lying...that's what he said.
 
Quote from Swan Noir:

When you take a piece of my quote and follow it with this nonsense you are clearly implying I said you were lying. But that never was the case.


Quote from wrbtrader:

It's very simple...not complicated.

His method works during a specific 5 hour duration. I'm not lying...that's what he said.

The OP hasn't posted since Thursday. Since then it's become a case of Let's You And Him Fight. Why don't the two of you just shake hands and move on? :)
 
Good idea. Let's consider it done.

Quote from dbphoenix:

The OP hasn't posted since Thursday. Since then it's become a case of Let's You And Him Fight. Why don't the two of you just shake hands and move on? :)
 
There are some good books on trading. I personally recommend Steve Nison. He has several good books on T/A which applies to stocks, forex, futures , commodities and options.

I would recommend browsing through some bookstores, looking at books by various authors and see which apply best to you.

Toni Turner also has written several good books targeted especially at the novice trader.
 
Quote from TD PowerTrader:

Toni Turner also has written several good books targeted especially at the novice trader.

...her books seem way outdated - 2006/7 - does that matter...?
 
Good book by Joe Ruinall "How to become a billionaire with scalping and daytrading"

another one is by Bob Lostitall "How I stole billions from market makers"

Enjoy!:)
 
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