I meant for the trading championship.
Yes it was funded at brokerage, sent monthly brokerage statements. I think it was Lind Waldock.
Back to the question. Is scalping any more risky than other types of trading? If so why?
After contest, I continued to trade much more long term commodities and learn some on hedging, got my risk down to zero when I entered trades. I then started doing the same with stocks, most of the risk is in the entries. In 2010 I started to really plow into risk management, wanted to reduce intra-trade drawdowns, so on many pullbacks, automation hedges current open positions. I have much more gaps in my favor than against, it is part of this business. This time or sooner next year, will have very little stocks and much more into commodities. I lose on 2-5% of my trades, am much better trader than 1992, I am risking few hundred to make either 60+% or partial of last nine year extremes.
With ES being as high as it is now, "scalping" for few ticks and risking few ticks, I can't produce high winning percentages, ES in first 30 minutes mostly 2+ point bars, now am generally risking 3-4 points to generally make .25 to 2 points. Breakeven trades to me means making 1 tick. My average time in a trade changes each week, but mostly 40 seconds in first 30 minutes and 2 minutes rest of the day. And I average down on all trades plus double up after a losing trade. Costs to hedge this is impractical as options might not move enough for 2 points or too much premium or lack of options. I really can't see anyone "scalping" like old days in the Indexes at these levels.
On my losing days, they are huge and might take 1-2 months recover, averaging down is what causes it, but year to year basis it better to do for me.
Scalping in Forex much more difficult unless USA mornings trading with trend for me. I think it easier to use 5 minute chart and go for larger profits. Risk small and go for much larger.
