However long you've been trading via a certain set of rules/procedures/protocols, count on those working only maybe for another quarter. Have other irons in the fire, and compare performance monthly if not weekly. The markets lending you good performance right now WILL change, and will go away. And if you're only set to hunt rabbits, but the woods and by-ways are only offering ducks, you're going to go hungry. Being an opportunist means not only seeking opportunities in areas you've targeted, but seeking new targets, as well. Have a plan, *trade* that plan, and when you don't see the trades, DON'T trade.
Is scalping still profitable?
- Thread starter qlai
- Start date
However long you've been trading via a certain set of rules/procedures/protocols, count on those working only maybe for another quarter. Have other irons in the fire, and compare performance monthly if not weekly. The markets lending you good performance right now WILL change, and will go away. And if you're only set to hunt rabbits, but the woods and by-ways are only offering ducks, you're going to go hungry. Being an opportunist means not only seeking opportunities in areas you've targeted, but seeking new targets, as well. Have a plan, *trade* that plan, and when you don't see the trades, DON'T trade.
Hey, that's the nature of true swing trading the NQ, although its a bit more heady than usual as of late.
Today is another great example of the nature of swing these days...
Look at these pics, and look at the hi-lo ranges, and the movement. This is why my swing trading is on pause. Yeah, I let a NQ position go against me 950 points over the course of a month, and got out with a 550 point loss. Before that, it would have would have taken months for that to bear itself out. But at the time of my real trade, it took the course of 5-6 weeks.
Now it is down to a day for that scenario to play out.
So ESkiller, don't you snap at my ass. We're in a whole other world of trading now, on the swing side. I'm now needling down on scalping the day for 30-40 points on a contract, instead of 3-4 ticks on 100 contracts. I do not wonder how your tenant is doing now, I am sure he/she is in an E-Trade commercial by now. I wish I was your tenant, I am jealous. ESKiller. I hope you killed it today.
I have no interest in arguing. Just related a story of someone that got me into trading and u act as if i'm telling lies. We are no longer in touch as we had a falling out years ago but I doubt he's still trading much these days. He wasn't a perfect trader but he made $ and always traded big. As to my own trading, I did well today. Hope you did too
Indeed, I will also let this intra-thread convo die. Will not lead to good outcome in this section.
seems optimistic
Scalping is profitable and will always be. The only problem is that, not all brokers allow that type of trading. A few of them do allow it. I trade on the Forexchief mt4 platform and they don't have any rules against scalping.