scalping 4 % daily

Quote from Surprise:

4% Daily ? If u buy at the Ask and sell at the Bid then you can't period .
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When the prices are trending limit orders don't get filled .

Here are 4 more 6 pip stop set ups , with a 12 pip stop you have bagged a good 50 pips
 

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Quote from oilfxpro:

...do you not think people might have put " no more posting ,had enough".It flipping saturday .unwind!
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Huh?

I tried it before on a live account and I froze and suffered from stress and anxiety.
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EXACTLY, my point
...I went on sim for six months to sort out these issues by using a discretionary method , the method puts less stress on me .I have now become numb to losses or profits...
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Of course, because there is no real money involved, Again my whole point.

Look, I hope you're the next Livermore, I just happen to know for a fact that sim trading and real trading have little in common. Now if I was trying a new order entry platform, I could see sim trading to familiarize myself with the keys etc. Beyond that you're largely wasting your time.
 
It's really something, reading so many stupid dumb fucking posts on this board by guys who are painly obviously (excuse double) not making much of anything at all.

And then I find this golden nugget...the first seven words has great 'pro trader' advise that some of you five-figure post count 'traders' should take a hint from.

IMO.

Quote from jack hershey:

In ES using the 5 min chart, you could start out with 20 contracts and make your 2,000 a day by trading to make 2 points per contract a day.

So do not start there.

Back up and begin with 1 contract and build your mind for a while.

At some point you have learned enough to trade with real money.

So begin with 1 contract and compound.

As it stands, you chose two unrelated time duration charts.

Do two 5 minute charts and make one for chicken feed traders and one for smart money traders. You will find that the smart money goes first so you can trade the chicken feed later. This used to be called tape reading .... LOL .....

So scrap all the descretion and just pretend you are smart and rich and you will be in no time.

Actually, you can't understand anything I posted. You can't even set up the two charts by using a filter.

You are asking a question so you can get your hopes up.

Hope is no good in mostly anything.

Maybe spent 30 minutes thinking.

See if you can think of a place locally where you might find another person who IS a trader. Then get acquainted and keep your mouth shut and take notes. Be sure to keep very quiet what you posted on ET.
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Quote from oilfxpro:

Trade what you see , it is discretionary trading unique to myself , there are rules but no specific time as to when to apply which rules , just trade gut instinct .Developing the right mindset takes experience in a live market.
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Nice! I actually do the same, but not so often anymore because of time. I feel as though human "high frequency" trading ought to be a sport... sometimes I go to a coffee shop with a stop watch in one hand and a Bloomberg keyboard in the other to bring a sense of superficial theatre for the ladies ;)(joke, I don't really do this)
 
Quote from sledgeyum:

Agreed. More lame trader posts. I stop reading after page 1.
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If you can't say anything useful or nice , do not bother posting.The purpose of this thread was to find some quality input of potential risks in this this type of trading.Please do post some quality constructive criticism , if you have any.

This type of momentum based scalping works only when there is decent volatility.If the volatility dies , the spreads will kill the profitability.Night spreads can be higher resulting in erosion of profits further.

To trade hundreds of times daily requires a friendly platform with one or two click execution .In addition the platform should allow quick input of stop loss , the metatrader allows quick input of 6 to 8 pips stops with a few clicks , other platforms allow a quicker fixed stop order with every execution entry.The platform I use for live accounts is very slow for inputting stops,just getting used to it on demo.The metatrader brokers have disconnections and freezing platforms for this type of trading.

The purpose of this thread is to learn something new about scalping.
 
Quote from Lucrum:

Huh?

EXACTLY, my point Of course, because there is no real money involved, Again my whole point.

Look, I hope you're the next Livermore, I just happen to know for a fact that sim trading and real trading have little in common. Now if I was trying a new order entry platform, I could see sim trading to familiarize myself with the keys etc. Beyond that you're largely wasting your time.
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I suffered from stress and anxiety due to inexperience and had not fully understood the method which was making 4 % a day.I was like a clueless footballer who scored goals ,just did it naturally on instincts (without having knowledge of the technique) , and made the money.When I tried to score goals purposely using a technique (more like a system of moves) ,I failed because I did not know the correct technique .Last few months were spent on demo practise , phsychology discussions , working on technique and probability studies with huge data back testing over ten years .These have cleared up the the technique issues and this has now been resolved.

The problem was not due to real money being on the table. I do understand the issues between live and demo and also the statistics of 80 % demo traders lose on live accounts
 
The other problem with momentum scalping is if the trend is mixed i.e down 15 pips and up 12 , it hits small stops frequently resulting in losses.Sometimes the market becomes choppy for hours .Often stops get taken out , price moves in the direction of momentum.
 
Quote from oilfxpro:

The other problem with momentum scalping is if the trend is mixed i.e down 15 pips and up 12 , it hits small stops frequently resulting in losses.Sometimes the market becomes choppy for hours .Often stops get taken out , price moves in the direction of momentum.
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Agree 100%. Its a killer
 
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