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Hey today I started 2 trade NQU6 by looking only at the tape{TAS}, no level two no chart...
it was amazingly easy scalping that thing with the tape... I´ve been trying to scalp it based on level 2 for the last week and I was getting killed most of the time... getting mediocre results at best...
too much noise, too much bluffing, too much no good info.
The tape is plain simple, I watch only the price, no size... as I see the price rising I buy if I see it falling I sell...It makes it easier to catch the move when it´s starting and exit when it ends...
 
You are so clever! When you get all the rules down, let us know! It is ALMOST as simple as that. However, there is the SLIGHT matter of the preferred direction to trade....and of accurately estimating the volatility so that what you describe CAN work. In a nutshell, that is what I do, and now you've given it oyveh! Very smart of you to drop the DOM. Utterly worthless IMO. I desperately need you to tell me the definition of "starts" and "ends". Been having a little trouble with that lately, and I have only six windows with sixteen panes and eighteen coded studies running in them to tell me those two simple things.
 
Well I keep it simple actually, If I feel a move is boiling I go in... if it takes more than 5 seconds to start then is not here yet, Im out. Once the move starts if it stops for more than a couple of seconds or a couple of ticks backwards, Im out.
 
As for direction I dont try to guess where the market is heading... or how far. I just see which way it is heading right now and I go with the flow.
 
Hey look. Im serious when it comes to my trading. I have an edge on my cost structure, I pay pennies per trade, and I also have an edge on my excecution <100ms delay from the exchange. So I´m always looking for ways to explode my edge in the best way possible. Im not saying TA, charts and swinging for a few big moves isn´t profitable. I know it is, and it´s the best way to go if you trade retail.
You guys have an edge over me when it comes to TA and measuring the probs of a certain outcome happening, or having the chance to choose your own risk management structure, where you can place your stops 7 or 8 ticks away so that you dont get cut out of a $10 move. I can´t do that. So I get in once the move is already on its way and I stay in as long as it´s moving... usually no more than a few seconds.
If ya´ll think Im a fool, then go ahead. It makes no difference to me. Have a nice day.
 
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