Scalper 101

C

coolweb

will write some ideas I have about scalping here, entries, and things
would like to keep a record, have some scalpers chime in, overall.

Some background:
I am a consistent swing trader who enters using scalp entries,
As a swing trader, I get to trade once or twice every 2 days.

So I have experience in scalping , but still a large NEWBIE SCALPER!


The reason:
I can capture 10-15 cents easily with a 2 cent stop. but 25-50 cents 1% is hard.


The frequency:
I will now be focusing on SCALPING 10 times a day.
Around once per hour,

The stock:
my focus will be on AAPL / $25+ per stocks.
I will be scalping purely candle sticks and following futures.

The stop/entry: Stop 2-3 cents , target: 10 cents - 25 cents.

I hope this journal ends on good terms because I would very much like to be the next

SEZENVE, RED_INK, STEVE TARVARDKE , NYSE_KILLER , MILLENINUMMAN , MR.NBBO

If they can be making $50,000 a month + , I would like that as well.


I will be scalping with a 300 shares when starting out
slowly up to 1000- 1500 shares on AAPL
I will be using a tick chart, just like how I use to trade futures.

--------------

If you can't beat them, join them!


When I finish this journal, I hope to be averaging at least $1k - 2k a day CONSISTENTLY.
 
Wow, good luck!

Um, if you are a successful swing trader, why go the scalping route?

Do you think you're going to see the volatility on an intra-day basis that will make you a consistent profitable trader?

That's not my experience, and I'm actually moving out to your position, of taking a trade ever other day or so the intraday volatility in the e-mini's/indices just isn't there warrant trading every day .. the risk:reward ratios don't setup well everyday.

Later,

JJ
 
Quote from JimmyJam:

Wow, good luck!

Um, if you are a successful swing trader, why go the scalping route?

Do you think you're going to see the volatility on an intra-day basis that will make you a consistent profitable trader?

That's not my experience, and I'm actually moving out to your position, of taking a trade ever other day or so the intraday volatility in the e-mini's/indices just isn't there warrant trading every day .. the risk:reward ratios don't setup well everyday.

Later,

JJ
More...

The swing in swing trading is not very consistent in making money each and every single day.


I want to make money every single day, and there is no other ways to do this except to exploit short term outbursts ,
arbitages with indexes, and other very short term inefficiencies.

Stock SWING completiton tend to follow the futures to the T,
If the market is trending up for the next 5 days, your stock can complete its 5 day SWING.

If the market drops on the 3rd day or 4th day, or 5th day.
Your stock may fail to complete its SWING and not reach its term.
Sometimes it fails on the 2nd day, You never really know. Its all up to the futures market.

I'm just a retail trader, not some insider info guy who gets calls from brokers so nothing is 100%


Scalping is different, if someone drops 500k shares, its a 99% opportunity that has no outside "forces", it will complete its 500k sell swing.

Profit off that immediate seller and go home today.
 
Quote from coolweb:

The swing in swing trading is not very consistent in making money each and every single day.
I want to make money every single day, and there is no other ways to do this except to exploit short term outbursts ,
arbitages with indexes, and other very short term inefficiencies.
I'm just a retail trader, not some insider info guy who gets calls from brokers so nothing is 100%
Scalping is different, if someone drops 500k shares, its a 99% opportunity that has no outside "forces", it will complete its 500k sell swing. Profit off that immediate seller and go home today.
More...

I believe this kind of thinking is what they call "grass is greener on the other side". I am afraid your assumptions are wrong, and you could lose big, if you are NOT careful. Money can be made in either markets (scalping or swing trading) but you need a different perspective than you currently have.....
 
Quote from goodday:

I believe this kind of thinking is what they call "grass is greener on the other side". I am afraid your assumptions are wrong, and you could lose big, if you are NOT careful. Money can be made in either markets (scalping or swing trading) but you need a different perspective than you currently have.....
More...

With 1-2 cent stops, I doubt I'm going to be losing big anytime this year or the next decade while scalping :D

------------------------

I'm still doing my chart research on the best places to enter

too bad scalping ain't that easy, small moves that are confirmed aren't easy to find. Ton of noise.
 
Quote from goodday:

I believe this kind of thinking is what they call "grass is greener on the other side". I am afraid your assumptions are wrong, and you could lose big, if you are NOT careful. Money can be made in either markets (scalping or swing trading) but you need a different perspective than you currently have.....
More...

I actually had similar thoughts as goodday on this one.

I don't think you'll lose big, but with a tendecy to overtrade potential profits can erode pretty quickly, that's why I don't trade everyday/lower timeframes anymore.

But I wish you success, and will observe your journey with an open mind.

Best,

JJ
 
Quote from JimmyJam:

I actually had similar thoughts as goodday on this one.

I don't think you'll lose big, but with a tendecy to overtrade potential profits can erode pretty quickly, that's why I don't trade everyday/lower timeframes anymore.

But I wish you success, and will observe your journey with an open mind.

Best,

JJ
More...

I'm still trading my swing trades 100%
These automated signals just come once every 2 days, nothing to do in between.


I just want to add in consistent profits DAILY
You can't really have consistent daily profits while trading once in a full moon.


-----------

No reason to sit here and slack :) time to research new systems just like everybody else!
 
You must log in or register to reply here.
Back
Top