Quote from candletrader:
Just because you are not doing it doesn't mean it isnt being done... for an experienced scalper, several hundred thou a year is not beyond the realms of expectation 
... and over the years, it adds up, assuming you don't spend too much... I do agree with your penultimate sentence... moreover, it also boils down to what "rich" means you to... for me, "rich" simply means "freedom"... for others, it means a certain minimum amount of $ in the bank...
You speak my language candleman
Comparing scalpers with position traders, for example, is like comparing an F-16 pilot with a farmer.
It's possible to make money scalping - However, I think it's the most difficult form of trading (from my own experience). I scalp (or let's rather say momentum trade - not exactly the 'scalping' we talked about in the age of fractions pre '99) myself, it's sort of my main trading style. I got good at it eventually. And I'm saying eventually. It's best to learn on longer timeframes and then reduce the timeframe gradually. That's how I look at it, anyway.
I guess it's because I'm paranoid about losses. I just don't like seeing a position lose anymore than 5-20c per share, when trading stocks for example. I close out straight away and look for the next run, never looking at my P/L stats. At the end of the day, I will have made money. So, this is what I see as an advantage of scalping - Not many losing days (unless I really get like 20 trades wrong), which looks a lot smoother on my equity curve.
Besides, my exposure to possible market events is much lower. I simply like to be able to sleep at night.
How about you, candletrader, what's your main style? Do you scalp? Are there any nasdaq equity scalpers around here?
~Scientist
