scalping and scalpers

toucan · Nov 11, 2023

jokepie said:
Scalpers should be able to reset to "the Trade Plan" instantly after exiting the Trade, irrespective of the outcome. I rehearse/ replay in my mind - my "Entry Logic" every time after the trade is done.

Hi Jokepie.. Good to see you back.. What part of the bay area. Do you daycare futures

Thanks in advance
Toucan

tomas262 · Nov 12, 2023

jokepie said:
Scalpers should be able to reset to "the Trade Plan" instantly after exiting the Trade, irrespective of the outcome. I rehearse/ replay in my mind - my "Entry Logic" every time after the trade is done.

yeah it took me a while ti learn, I have found with increased risk it is actually more difficult

murray t turtle · Dec 19, 2023

eleanorK80 said:
Scalping can be intense! How do you manage stress and stay focused during fast-paced trades? Share your techniques.

%%
MAKE sure have REal Estate, business;
investments, trades investments..............................................................................
Good music helps+ NEVER panic sell, planned sells can help+ repeat

ironchef · Dec 19, 2023

tiddlywinks said:
If you are really scalping, or some recognizable variation of scalping, there is little to no stress... you know what you are expecting to happen and if it doesn't, you are gone: win, lose, or draw. There is no waiting through big drawdown or long duration stalls. Next! Another train will be coming by momentarily! Missed opportunity is an irrecoverable cost.

By default, scalping (or some recognizable variation) IS fast paced, so if staying focused is a problem, you have chosen an inappropriate style of trading for yourself and you will fail.

May I ask what is the general definition of scalping? Is it defined by time or value or both?

Thanks.

zdreg · Dec 19, 2023

Creating a poll will result in useful responses.

VSTscalper · Dec 19, 2023

tiddlywinks said:
If you are really scalping, or some recognizable variation of scalping, there is little to no stress... you know what you are expecting to happen and if it doesn't, you are gone: win, lose, or draw. There is no waiting through big drawdown or long duration stalls. Next! Another train will be coming by momentarily! Missed opportunity is an irrecoverable cost.

By default, scalping (or some recognizable variation) IS fast paced, so if staying focused is a problem, you have chosen an inappropriate style of trading for yourself and you will fail.

I find Scalping - the safest way to trade - been doing it for years.

What "tiddlywinks" says is right in his first sentence. Scalping can be fast paced - but it doesn't have to be. To some traders - Scalping may be in a trade for Minutes - while others like myself - Seconds. I said awhile back - in another thread - Scalping comes naturally to me - as I grew up on an Indian Reservation - and both my American Indian - Brothers-in Law - taught me how to Scalp - the right way - LOL.

Ages ago - I used to have a thread on the old HotComm - and one trader friend of mine - started calling me "2 Tick" - then many of the others started doing it.

I also do some Scalp_Trend combination trades. Say 5 contracts - Scalp 4 contracts for a couple of ticks - then potentially have a Runner with the remaining contract. Once you Close the first 4 contracts - bring your Stop - to at least - BreakEven - so in the worst case - your remaining Contact will be Stopped Out at B.E. If price keeps going in Profit - then Trail it. It is NOT hard to do.

I have seen traders doing Trend trades - in Profit - and watch Price come back against them - and finally end up with a Loss. Actually - I did that quite often - when I first started trading.

To all - have a great day.

Scalping - 10 days - One Contract per Scalp. When I do trade - I only trade a Maximum of 2 Hours in the morning - so the results would be MUCH Less than what is shown here.

ironchef · Dec 19, 2023

VSTscalper said:
Ages ago - I used to have a thread on the old HotComm - and one trader friend of mine - started calling me "2 Tick" - then many of the others started doing it.

I also do some Scalp_Trend combination trades. Say 5 contracts - Scalp 4 contracts for a couple of ticks - then potentially have a Runner with the remaining contract. Once you Close the first 4 contracts - bring your Stop - to at least - BreakEven - so in the worst case - your remaining Contact will be Stopped Out at B.E. If price keeps going in Profit - then Trail it. It is NOT hard to do.

Interesting concepts.

Thank you for sharing.

VSTscalper · Dec 19, 2023

ironchef said:
Interesting concepts.

Thank you for sharing.

The problem with most traders - ME included - when I first started - is we tend to make things way to complicated. Soon - we are adding several Indicators to a chart - and have Multiple charts - just to Enter a trade. Once I started getting rid of Indicators - my trading improved considerably. Eventually - I stopped using any Indicator. I code based on what I call TRUE or PURE - Price Action. And believe or not - I only Look Back - One Bar. Not 10 days - 30 days - 1000 days - just One Bar.

I have a favorite trading Meetup I attend each Month. I have done a few talks - showed what I do. There is one trader in the Meetup - nice guy - when he does a presentation - he has Multiple charts - many Indicators on each chart - 5 or 6 Moving Averages - etc. And he has mentioned - sometimes he gets a headache - I wonder why. Yet - he thinks my setup is too Simple. Well - I do NOT use Indicators - just an Algo - and rarely do I get a headache - at least from Trading.

I believe I said in my old thread - many years ago - I was invited to Chicago by a couple Brokers - at the old MFGlobal. What I didn't know - was they arranged it so I could go into the Pits. What traders do not see on TV - is there are Rows of Computers and Traders - sitting above the Pits. I got to sit with a Trader - who's Partner was in the Pits. He would send Hand Signals down to his Partner. He also had 2 computers stations - and it blew me away - NO Indicators. He was looking at other things - NOT Indictors. That got me to thinking - and changing the way I look at the market.

Having said all that - I do believe Indicators have some value - but most traders end up using way to many Indicators - which I firmly believe - will cause most traders to fail. I was close to failing - on several occasions - NOT a nice experience.

We need to do the K.I.S.S.

Funny - I just thought of the Trader I sat with above the Pits. If you have ever seen a Las Vegas (I believe) comedian name Carrot Top - well this trader in the Pits - had Hair like his - but NOT Orange_Red like Carrot Top.

David's faith · Dec 21, 2023

Yes in the pit all you need is yesterdays OHLC, VWAP and maybe a pivot. This gives sorta naked chart. I trade like that too.

SimpleMeLike · Dec 21, 2023

VSTscalper said:
I find Scalping - the safest way to trade - been doing it for years.

What "tiddlywinks" says is right in his first sentence. Scalping can be fast paced - but it doesn't have to be. To some traders - Scalping may be in a trade for Minutes - while others like myself - Seconds. I said awhile back - in another thread - Scalping comes naturally to me - as I grew up on an Indian Reservation - and both my American Indian - Brothers-in Law - taught me how to Scalp - the right way - LOL.

Ages ago - I used to have a thread on the old HotComm - and one trader friend of mine - started calling me "2 Tick" - then many of the others started doing it.

I also do some Scalp_Trend combination trades. Say 5 contracts - Scalp 4 contracts for a couple of ticks - then potentially have a Runner with the remaining contract. Once you Close the first 4 contracts - bring your Stop - to at least - BreakEven - so in the worst case - your remaining Contact will be Stopped Out at B.E. If price keeps going in Profit - then Trail it. It is NOT hard to do.

I have seen traders doing Trend trades - in Profit - and watch Price come back against them - and finally end up with a Loss. Actually - I did that quite often - when I first started trading.

To all - have a great day.

Scalping - 10 days - One Contract per Scalp. When I do trade - I only trade a Maximum of 2 Hours in the morning - so the results would be MUCH Less than what is shown here.

View attachment 330006

Good Morning VSTscalper,

Question please:

1. When you scalp, and the stop loss is hit:

1.) What is your mental approach to recovering the One loss?
2.) What is your plan to recovering the One loss?
3.) Do you ever have 2 losses in a row?

Thank you,