Is scalping 3 handles/12 ticks on NQ feasible in Live market environment?
- Thread starter aegis_eq
- Start date
The tradeoff is that at least you won't lose an arm and a leg with MNQ if you're wrong. After all, you wouldn't be "testing" if you already had a profitable strategy.
That is an opinion that you have about me and my skills without actually knowing either one. I was asking solely in technical terms. Any discussion about whether or not I can do it or you can do it or can schizo do it is absolutely pointless because we are all anonymous on an internet forum. There is simply not enough data that we know about each other to make any sort of meaningful individual assessments.
Probably going to end up doing exactly that! Thank you for your input.
C'mon, don't rock the boat. What he wants is reassurance that he won't lose money.
If you are looking for reassurance from anonymous/near-anonymous people online for your inner struggles, you are probably in the wrong field of work.
If you stop is 1:1, you are doing scalping wrong. Stops ALWAYS have to be MS/PD Array dependent, and even when you are going for 6-8 handles, you will rarely have any price formation that would allow for a 1:1 ratio. With 3 handles, most of the time you are in deep sub 0.5 territory; but, the trade off is that you have the luxury of grabbing only the most probable portions of the price leg that you intend to trade and exit quickly, limiting exposure to the market. Risk and exposure are two different sides of the same trading coin. Just my opinion, of course.
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I do day trading.
For NQ, my max loss is 12 handles/points(36 ticks).
Target profit 36 handles (ie reward : risk ratio 3:1) or better.
Definitely, for scalping, those numbers will be reduced.
Do note that you have to compete with algos, high frequency traders.
If you have no idea how those people earn money,
and if you are not paying the discounted reduced commission,
then your chance of success is zero.
GOOD LUCK!
For NQ, my max loss is 12 handles/points(36 ticks).
Target profit 36 handles (ie reward : risk ratio 3:1) or better.
Definitely, for scalping, those numbers will be reduced.
Do note that you have to compete with algos, high frequency traders.
If you have no idea how those people earn money,
and if you are not paying the discounted reduced commission,
then your chance of success is zero.
GOOD LUCK!
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I see what you are saying, it is not an inherently bad idea; however, MNQ and NQ are different enough to where when we are talking high-speed scalping, not only the volume is different; but there are many minute deviations between MNQ and NQ in terms of wicks, bodies, and even color of some LTF candles that are enough to throw your analysis off if you use solely MNQ. That forces you to work on both charts at the same time, and if your window of opportunity is sometimes 6-7 seconds to make a decision and get a fill, it can create a whole array of problems that you would rather not deal with. I have tried using both MNQ and NQ simultaneously before and settled on it being a last resort type of option for myself. Just my opinion, not an authority on these matters. Just recounting my observations.
You can't compete with algos. You can only trade with them. But everything that you say does make perfect sense
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Are you by chance trading Fair Value Gap?
Maybe it is me but font is teeny tiny. Can't make out entries/exits clearly.
And yes I did first click image to enlarge it.
Nevermind someone helpfully pointed out how to enlarge image completely.
Now as for trades shown, when they are on same bar, telling whether it is long or short is problematic. Also time axis and candle timeframe is missing which is also not very helpful.
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