Scalping for 4 ticks; mangement?

[SunTrader]

..., focusing on lowering commish and cap gains as much as possible.

Lowering capital gains too? Why would you?

Otherwise how do you focus on cap gains by setting and forgetting. More like hope and pray.

 

[Turveyd]

Lowering capital gains too? Why would you?

Otherwise how do you focus on cap gains by setting and forgetting. More like hope and pray.

Basically, if your rich enough to set and forget then your likely rich enough to not need the $$'s or the chance of making huge $$'s.

So basically his advice is become RICH by likely having a rich family or maybe marrying into a rich family.

For the rest of us dream chasers, intraday is definately where it is at, lets ROCK ON!!

 

[Visaria]

He's just a troll or a shill. i offer him help, point out the flaws in his arguments and all he can do is reply with threats and insults.

I'll put him on ignore, you guys can waste time with him if you want.

 

[MrFuture]

Assuming we are all in our early 30s, I know with absolute certainty that by the age of 60 I'll have accumulated more $ than any of you by simply value cost averaging every month in a low cost index etf, while you guys wasted all your years throwing $ in active strategies and insane amount of commish.

Out of all of my clients, the ones with the most millions are the ones who through the years have kept it ridiculously simple, traded the least and avoided capital gains as much as possible.

I know that as a concept it is totally foreign to you and I can't blame you because I was once as naive as you are now, and I know that none of you will change strategy as a result of my postings. That does not mean however that I have to be placed on a cross for discussing the benefits of longterm index investing LOL.

 

[GiantDog]

That does not mean however that I have to be placed on a cross for discussing the benefits of longterm index investing LOL.

Why don't you start your own thread then and butt out of this one?

 

[MrFuture]

Why don't you start your own thread then and butt out of this one?

Because I have all the rights in the world to give my opinion to the OP who is desperately looking for the perfect r:r ratio that simply does not exist. It is a futile search, a dog chasing its tail. No to mention, insanely expensive.

 

[Turveyd]

Because I have all the rights in the world to give my opinion to the OP who is desperately looking for the perfect r:r ratio that simply does not exist. It is a futile search, a dog chasing its tail. No to mention, insanely expensive.

In your opinion, which can ofcourse be wrong and is, as i scalp succesfully.

OP if you add him to your ignore list it will possibly stop him posting here.


Is this EJ ?

 

[Turveyd]

My little scalpy method is working quite well today, not just using my 6 rules, but the 6 rule on it's own on a day like today looks fairly profitable.

 

[Gino_V]

It might sound pessimistic, however ask yourself how many times you felt the need to tweak your strategy, how many times you thought you found the perfect parameters, just to see the market moving in a completely different fashion all of a sudden, forcing you to come back here looking yet again for answers. Truth is, no one can keep beating the mkt in the long term, and as a result not matter which strategy you implement, you will always find yourself back to the drawing board having to make changes for the 100th time. Problem is, by the time you are back to the drawing board it means you went through quite a few losses, otherwise there would be no need to implement new changes.

Just think....how many threads were started in this very website throughout the years with people presenting their winning strategy, followed by the first few pages of the thread full of excited people commenting on how cool the strategy is.....but then you see the pages that follow full of new tweaks and "filters" that people come up with to improve the strategy.......just to then seeing the thread dying miserably as soon as people realize that the strategy does not work in the long run ? Countless of threads ended up like that, and not only here, but on all active trading forums.

That is when you have to ask yourself, what if there is no way, what if I am just wasting my time looking for something that does not exist? Why is it that most prop trading firms are shutting down? Why is it that the brightest minds on Wall St still have losing years and all they can wish for is returning a few % points over what the market does? Why is it that Steve Cohen himself, who was once the master of trading ES intraday, admitted that today's mkt noise makes it impossible to trade it intraday profitably? And yet here we are, on an internet forum, claiming we will somehow find out a way?

I work in finance and deal on a daily basis with trading desks all over the US. I speak to traders from the best firms out there, who have access to the best technology/information and are bright as hell, and yet I still have to find anyone who tells me that active trading can be profitable for the long run. It is a mirage, an illusion pushed by the very same brokers that sponsor this website to generate commissions. That is all, and we all know it.

Just my two cents. Best of luck in your pursuit.

Appreciate your well meaning advice to our fellow traders but calling it a mirage/illusion is simply not true at all. Making money in daytrading ES, FDAX, Z or CL are very doable these days compared to five or ten years ago - the commissions have gone down so much, the datafeeds are more reliable and then there are a few off-the-shelf softwares (Multicharts, Ninjatrader...) that are getting better and better. Whether you trade the DOM or develop your own algo., if you are willing to put in the time, you'll find the edge and will make you money in the long run (provided that you have the patience and the discipline and are also well-capitalized).

 

[MrFuture]

Appreciate your well meaning advice to our fellow traders but calling it a mirage/illusion is simply not true at all. Making money in daytrading ES, FDAX, Z or CL are very doable these days compared to five or ten years ago - the commissions have gone down so much, the datafeeds are more reliable and then there are a few off-the-shelf softwares (Multicharts, Ninjatrader...) that are getting better and better. Whether you trade the DOM or develop your own algo., if you are willing to put in the time, you'll find the edge and will make you money in the long run (provided that you have the patience and the discipline and are also well-capitalized).

I hear you, however many would argue that 5 to 10 yrs ago it was actually easier to daytrade compared to today. Many prop trading firms have shut down in the last few years, blaming low volatility and HFTs constantly disrupting trends and adding too much noise.

I personally know of at least 5 successful daytraders who quit in the last few years for the same exact reason. And you will find the same stories online btw. There was a user here by the name of "shorttheworld" who was killing it a few years back and then it all stopped.

And then there is this guy....to me, if this guy quits saying that HFTs are making it impossible, then I take note. I guarantee you that he knows more about daytrading than all the members of this Elite Trader put together: