Scalping e-minis
- Thread starter Breakout
- Start date
This is straight out of the Don Bright playbook...For every one scalping superstar there are hundreds of guys bleeding to death doing those kinds of numbers...The more you scalp, the more discipline that is required because of the frequency, high win percentage required and the increased odds of a price shock, unexpected news event, emotional gremlin causing some sort of erroneous decision...
That's the best incentive I've heard yet. That's the kind of "encouragement" I got when I started trading. If only one in a thousand can do it. Those are the kind of opportunities I like, the ones where only the very best succeed.
Banjo, if the first tick doesn't go your way, you enter a limit at your fill price. If the second doesn't go your way....well... you are out at the market for a 3 tick hit, or who knows what your mind will try to get you to do. But that is where the one in a thousand guys succeed and the other 999 don't.
J trader is a good platform for this type of trading.
I know what I need to make a living, and there are some days when you have to make a living a tick at a time. Someone once told me if you can get 4 ticks, you can usually get a handle.
Banjo, if the first tick doesn't go your way, you enter a limit at your fill price. If the second doesn't go your way....well... you are out at the market for a 3 tick hit, or who knows what your mind will try to get you to do. But that is where the one in a thousand guys succeed and the other 999 don't.
J trader is a good platform for this type of trading.
I know what I need to make a living, and there are some days when you have to make a living a tick at a time. Someone once told me if you can get 4 ticks, you can usually get a handle.
i saw some pretty good scalping systems. check with efloortrade
Oh boy, scalping I think is the most difficult technique to make money in the emini.
There are just too many competition for that price you want to hit.
Any pull backs and you competing with a thousand other scalpers for that price, and usually you dont get it.
There are just too many competition for that price you want to hit.
Any pull backs and you competing with a thousand other scalpers for that price, and usually you dont get it.
Originally posted by Sarasota:
"I was talking with the boys over at ffastfill, and they were telling me about a true scalper. One of their customers trades the ES in lots of 10 and this guy did a total volume of 4700 contracts in one freaking day."
4700 divided by 10 contracts per trade equals 470 trades X 2 (to close the trades) = 940 executions. In a trading day of 6 1/2 hours that is approximately 145 executions per hour or about
3 trades per minute. (Allowing for entry and fills that is conservative).
Sarasota I would guess the information you were given is incorrect.
I scalp ES and NQ. It is difficult to make money consistently. Know many who expertly try -- including one of those who posted here (who is an expert) and none make a living scalping. A scalp is usually entered for a 2 to 3 point target. The trade usually lasts about 6 minutes on average using a 2 point stop. I will bet anyone that if they can do this live on a "white board setup" showing their running P&L -- I will pay $1000 to watch 1 day of trading.
As to books on the subject there are none that I have found and I have a very complete trading library -- (also did searches). Particularly on the Emini's -- there are no current books on the subject. I am in the process of writing one but a long way from completion. I will be happy to collaborate with a skilled editor/writer to assist in the endeavor of authoring such a book. (To speed up the process of getting the book to print.) In the book a workable proven system would be presented for scalping as well as day trading longer time frames.
Thanks,
MACD
"I was talking with the boys over at ffastfill, and they were telling me about a true scalper. One of their customers trades the ES in lots of 10 and this guy did a total volume of 4700 contracts in one freaking day."
4700 divided by 10 contracts per trade equals 470 trades X 2 (to close the trades) = 940 executions. In a trading day of 6 1/2 hours that is approximately 145 executions per hour or about
3 trades per minute. (Allowing for entry and fills that is conservative).
Sarasota I would guess the information you were given is incorrect.
I scalp ES and NQ. It is difficult to make money consistently. Know many who expertly try -- including one of those who posted here (who is an expert) and none make a living scalping. A scalp is usually entered for a 2 to 3 point target. The trade usually lasts about 6 minutes on average using a 2 point stop. I will bet anyone that if they can do this live on a "white board setup" showing their running P&L -- I will pay $1000 to watch 1 day of trading.
As to books on the subject there are none that I have found and I have a very complete trading library -- (also did searches). Particularly on the Emini's -- there are no current books on the subject. I am in the process of writing one but a long way from completion. I will be happy to collaborate with a skilled editor/writer to assist in the endeavor of authoring such a book. (To speed up the process of getting the book to print.) In the book a workable proven system would be presented for scalping as well as day trading longer time frames.
Thanks,
MACD
MACD,
im looking forward to your book
i am really a newbie, but if you call that a "scalp", what would you call a trade in the 1min NQ with a target of 1.0 and a stop on 1.5... ? im working on that in the moment by observation. in the moment i use BB with 13,2 and 8SMA on 1 min NQ. show some good signals. but first i have to work out the opportunity factor for the first + the last hour in the next weeks to say something more on that.
trading
Why would you enter a trade with a projected target that is less than your stop. Are you saying you will take 1 pnt. wins and 1.5 pnt. losses all day? I've seen this sort of thing posted a couple times now, what am I missing here? If you have a 1.5 pnt stop you shouldn't even consider a trade that doesn't offer the potential of a 4.5pnt. gain, at least I wouldn't.