Passing the computer snappy scalps only
- Thread starter Bugenhagen
- Start date
I think the best thing to do is sum it on Friday as I'll be distracted by comments and drop the ball.
What is your profit target on each scalp? Looks like about 2 ticks? And where do you set your stop loss? It seem that trading for such small profits, even scalping, would require about 90% accuracy to make up for an inevitable larger loss. Not questioning your results, just wondering.
When you catch the phase you can't lose...Tradingview is great isn't it?
Not going to be interesting, I am just posting a few days to show someone who says indices are "too random" to scalp off charts with positive expectancy bla bla commissions eat too much.. etc.
Oh and Nasdaq liquidity is insufficient to use more than 5 contracts per entry without "messy slippage" and "nobody scalp trades with limit orders" more bla(actually it is fine).
NQ Nasdaq 5 minute chart, literally taking a few trades passing in and out from a project in my workshop next door.
View attachment 214628
8/8 in-out trades x 10 cars per
phases of dow theory
1 - recuperation
2 - accumulation
3 - buy
4 - attention
5 - distribution
6 - sell
1 - recuperation
2 - accumulation
3 - buy
4 - attention
5 - distribution
6 - sell
I was busy today with projects, I had (very rare) bad sleep last night so just answering one I started earlier and off to bed
Meandering as pretty tired.
Well this is not about great trading remember. The aim of this is to show better than random entry results to someone with each trade hitting profit within about 5 minutes. Obviously there has to be some time limit and max adverse excursion needs to be kept sane.
Again, this is just a demo to someone that snap decisions with a clear mind are actually not random expectancy etc. at all for a trader with several years. Lethal for beginners of course.
I have a disaster stop (limit) set no more than about $1400 away. I just move this as I see fit but in a disciplined manner for the limit queue (at the back all the time anyway). If a news driven algo event etc. occurs, (brown swan?) I'm safe within reason.
Obviously one might prefer under normal trading circumstances to add 2 contracts at a time for a better average position (taking less heat) but for this and in order to prove 10 cars a shot is absolutely fine, I'm sticking to this as a fixed entry.
Yesterday I was doing two to four ticks (ish). Today I tried to be tighter on the 1-2 tick targets, not because this is especially sensible but because I'm proving a point that feeding your broker is not a sin as long as you are happy with your own share.
So today I made around $2496.80 gross, $1591.91 long and $905.80, I need to check the commish is correct at 473.20 but that needs to be subtracted for net. Obviously to make near the same net dollar amount as yesterday on a tighter target, it required way more trades.
I'll so a sum up as said earlier tomorrow. But again, no issues except for one trade where it went a good bit (need to check tomorrow) against me. I was not worried it would drop further but I was ready to bail. I fluffed that one not getting the sell order in fast enough and missed the immediate target fill. Wife asked me something that moment as well.. I don't want to use an ATM. I just got out of of that years ago preferring to enter the target manually.
Meandering as pretty tired.
Well this is not about great trading remember. The aim of this is to show better than random entry results to someone with each trade hitting profit within about 5 minutes. Obviously there has to be some time limit and max adverse excursion needs to be kept sane.
Again, this is just a demo to someone that snap decisions with a clear mind are actually not random expectancy etc. at all for a trader with several years. Lethal for beginners of course.
I have a disaster stop (limit) set no more than about $1400 away. I just move this as I see fit but in a disciplined manner for the limit queue (at the back all the time anyway). If a news driven algo event etc. occurs, (brown swan?)
I'm safe within reason.Obviously one might prefer under normal trading circumstances to add 2 contracts at a time for a better average position (taking less heat) but for this and in order to prove 10 cars a shot is absolutely fine, I'm sticking to this as a fixed entry.
Yesterday I was doing two to four ticks (ish). Today I tried to be tighter on the 1-2 tick targets, not because this is especially sensible but because I'm proving a point that feeding your broker is not a sin as long as you are happy with your own share.
So today I made around $2496.80 gross, $1591.91 long and $905.80, I need to check the commish is correct at 473.20 but that needs to be subtracted for net. Obviously to make near the same net dollar amount as yesterday on a tighter target, it required way more trades.
I'll so a sum up as said earlier tomorrow. But again, no issues except for one trade where it went a good bit (need to check tomorrow) against me. I was not worried it would drop further but I was ready to bail. I fluffed that one not getting the sell order in fast enough and missed the immediate target fill. Wife asked me something that moment as well.. I don't want to use an ATM. I just got out of of that years ago preferring to enter the target manually.
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If you are interested search for Volpri. You might find some techniques to add to your arsenal.
ES
ES
I was busy today with projects, I had (very rare) bad sleep last night so just answering one I started earlier and off to bed
Meandering as pretty tired.
Well this is not about great trading remember. The aim of this is to show better than random entry results to someone with each trade hitting profit within about 5 minutes. Obviously there has to be some time limit and max adverse excursion needs to be kept sane.
Again, this is just a demo to someone that snap decisions with a clear mind are actually not random expectancy etc. at all for a trader with several years. Lethal for beginners of course.
I have a disaster stop (limit) set no more than about $1400 away. I just move this as I see fit but in a disciplined manner for the limit queue (at the back all the time anyway). If a news driven algo event etc. occurs, (brown swan?)
Obviously one might prefer under normal trading circumstances to add 2 contracts at a time for a better average position (taking less heat) but for this and in order to prove 10 cars a shot is absolutely fine, I'm sticking to this as a fixed entry.
Yesterday I was doing two to four ticks (ish). Today I tried to be tighter on the 1-2 tick targets, not because this is especially sensible but because I'm proving a point that feeding your broker is not a sin as long as you are happy with your own share.
So today I made around $2496.80 gross, $1591.91 long and $905.80, I need to check the commish is correct at 473.20 but that needs to be subtracted for net. Obviously to make near the same net dollar amount as yesterday on a tighter target, it required way more trades.
I'll so a sum up as said earlier tomorrow. But again, no issues except for one trade where it went a good bit (need to check tomorrow) against me. I was not worried it would drop further but I was ready to bail. I fluffed that one not getting the sell order in fast enough and missed the immediate target fill. Wife asked me something that moment as well.. I don't want to use an ATM. I just got out of of that years ago preferring to enter the target manually.
Nice rant, except the part where he's trading the NQ and your math is for the ES.
1 NQ tick = $5 per contract, not $12.50.
Dear lord, this is setting up for a big crash. Averaging into a loser is going to bite you in the ass, until the trade war is resolved. If you do not have a few million in your account, yer going to get boinked hard.