Scalping: Is this consider a qualilty method of trading?

snooptrader · Oct 1, 2003

Quote from axeman:

Seems like scalpers are like remora fish. They need much larger fish/sharks/turtles to attach to in an attempt to feed.

However, over the last year or two, the number of remora fish has grown and grown and the really big fish they attach to have become more and more sparse and smaller.

Now they are left to fight over scraps and attempt to eat one another.

I gave up scalping a while ago for longer term methods. To many of these little remora fish stepping in all over the place on every tiny move made by a bigger fish.

You end up with a big fish literally covered by so many of these remora he looks like he has a fish afro. Then the big fish can barely move because of the immense drag from the remora fish all over him.

peace

axeman

Dude, your post is a case of the analogy taking over the point you were trying to make. I was with you until the "fish afro".

Peace dawg.

Mecro · Oct 1, 2003

Quote from axeman:

Seems like scalpers are like remora fish. They need much larger fish/sharks/turtles to attach to in an attempt to feed.

However, over the last year or two, the number of remora fish has grown and grown and the really big fish they attach to have become more and more sparse and smaller.

Now they are left to fight over scraps and attempt to eat one another.

I gave up scalping a while ago for longer term methods. To many of these little remora fish stepping in all over the place on every tiny move made by a bigger fish.

You end up with a big fish literally covered by so many of these remora he looks like he has a fish afro. Then the big fish can barely move because of the immense drag from the remora fish all over him.

peace

axeman

Thats exatcly what I was trying to say.

Great analogy.

blb078 · Oct 1, 2003

Quote from bungrider:

this thread is a bit out of touch with reality. i'm gonna raise the BULLSHIT flag and put in my .02

you guys are talking like "oh yeah, keep the small profit and just forget about the bigger profit, even though it's there, you're a scalper so don't take it"

scalping is about the worst possible way to try and make a living in this business, and is every prop owner's wet dream, which is why there are posters with a low post count being like, "oh yeah, this guy jerry IN MY OFFICE made like $2million scalping last year" and the next guy's like, "yeah, well raoul in MY OFFICE made like 500k last year, but that was his worst year ever"

they make it sound like scalping is SOOOOOOOOO easy. well, it's not, especially for the beginning trader.

know why? it is mentally VERY stressful and psychologically damaging. the big losses really fuck you up. and it's expensive. get ready to piss away hundreds, if not thousands, of dollars every day in commissions.

the LONGER the time frame, the easier the trade.

that's my .02.

what the hell does a low post count have to do with anything, why is it that most people arguing about this are putting their post up during market hours, shouldn't you be trading? i can care less what's going on at ET when the market is open, and no one ever said scalping is easy, the orig poster asked what the good scalpers make so people put a reply as to what people they now make, the fact is there are people making mid 6 figures scalping in this market, weather you or anyone else believes or not.

PuffyGums · Oct 1, 2003

Quote from snooptrader:

Dude, your post is a case of the analogy taking over the point you were trying to make. I was with you until the "fish afro".

Peace dawg.

Ok then, maybe fish dreadlocks or fish braids would be better.

Lobster · Oct 1, 2003

I'm reading this thread, and all the time I keep wondering, Why would someone who makes a few hundred thousand a year on a regular basis take on debt in any form? Next thing you'll tell me they all carry $20k on their credit cards.

axeman · Oct 1, 2003

Good. It was based on your posts

I understood exactly what you were saying, and have
experienced the very same thing.

peace

axeman

Quote from Mecro:

Thats exatcly what I was trying to say.

Great analogy.

axeman · Oct 1, 2003

LOL! Exactly!

Just imagine a shark with a few remora hanging off it as it
cruises through the water with ease.

Now imagine the same shark with 4000 remora hanging off it

Would look like cousin IT with remora dreadlocks. LOL.
It also would have a far more difficult time smoothly crusing
through the ocean.

peace

axeman

Quote from PuffyGums:

Ok then, maybe fish dreadlocks or fish braids would be better.

Mecro · Oct 2, 2003

Quote from blb078:

what the hell does a low post count have to do with anything, why is it that most people arguing about this are putting their post up during market hours, shouldn't you be trading? i can care less what's going on at ET when the market is open, and no one ever said scalping is easy, the orig poster asked what the good scalpers make so people put a reply as to what people they now make, the fact is there are people making mid 6 figures scalping in this market, weather you or anyone else believes or not.

The point is that he asked "good scalper" not the best. You're giving him the yearly income of the number of scalpers that one can probably count on their two hands.

A good scalper can make like 50-70k a year. The problem is that what a good scalper can make has been getting lower and lower by the month.

The best guys simply have the experience to be the top dogs and pull in the big bucks you speak of. One of them sits right next to me and has been doing it for 4 years. I think as the average he makes about 250k a year, but it has been getting less and less every year.

okwon · Oct 2, 2003

Quote from Mecro:

The point is that he asked "good scalper" not the best. You're giving him the yearly income of the number of scalpers that one can probably count on their two hands.

A good scalper can make like 50-70k a year. The problem is that what a good scalper can make has been getting lower and lower by the month.

The best guys simply have the experience to be the top dogs and pull in the big bucks you speak of. One of them sits right next to me and has been doing it for 4 years. I think as the average he makes about 250k a year, but it has been getting less and less every year.

Not everyone is scalping stocks and not everyone scalping stocks is hitting the bid in front of shorties that are stepping. Although the numbers you post are probably true for trading equities the way you do, they might not be for other instruments. I don't know if the original poster was referring to stocks or scalping in general.

EMini-Player · Oct 2, 2003

Quote from Lobster:

I'm reading this thread, and all the time I keep wondering, Why would someone who makes a few hundred thousand a year on a regular basis take on debt in any form? Next thing you'll tell me they all carry $20k on their credit cards.

Million dollar house perhaps