This is fantasy talk by someone who averages into trades, not someone who "scalps."
No day trader on this planet can make yearly profits
- Thread starter teewoods
- Start date
This is fantasy talk by someone who averages into trades, not someone who "scalps."
That depends on ones definition of scalping. I consider 1 to 4 points a scalp in the ES and 8 points or so a swing trade usually from two legs.
As far as averaging in I don’t do it on every trade but will do so when the context supports doing so.
Can you make 2 points on each trade trading 2 ES contract and do so on two trades in the ES in the same day? Just two trades?
No, because it would involve a 1:1 RR ratio, and you'll get stopped out more often than not due to the noise.
To do it with any real size will kill most accounts. I disdain that sort of talk about "just do it with 50 contracts, twice in a day, and you'll be rich".
Sorry there is no such thing as noise in the markets. I am sorry you cannot go long two contracts and make 2 points on that trade. Or short 2 and cover with two points profit. And repeat that two times in a day session of the ES.
You have a right to disdain anything you want to but is doesn’t mean you are correct.
I am sorry you cannot either, because your charts have been showing nothing but averaging into your trades when you were wrong. And that is where it can get bloody. Or am I mistaken? Did you post annotated charts where you just scalped away 4 points per day, in and out? If so I missed them.
I probably have posted more averaging in trades than straight scalps of two four points but that really has nothing to do with my point I am making. That is making Two points profit on a long or short trade with two contracts averaging in or straight scalps.
And you are mistaken. I average in because I am right not wrong. And I am adding to a position getting it cheaper and cutting the distance the trade has to move in my favor for profit. I actually look for opportunities to average down and am quite ready to do so when the opportunity presents itself in the correct context.
My reading comprehension skills must be off here, because it looks to me like you just contradicted yourself there? If your position is right, then why are you "cutting the distance " the trade has to move in your favor FOR PROFIT?
Isn't it already IN profit?
Fine then.
I'll buy the damned trucoat because, well...
@volpri, I don’t know you... I thought about it, and this sounds very flimsy ...
The key here is "in the correct context". I agree with this method of trading and am doing it now. The regulated Micros have made all of this possible and I was not forced back into the "Wild West of Forex".
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