Scalping one stock ?

Often when trading the ETF's I will be watching some of the major components. In the case of the SKF, I will watch JPM GS. If those or others within the banking sector breaks out or down, I might do something on the ETF.


Quote from Mark2m:

As an FYI, find something that is comfortable, and very much dependent on your discount broker especially without T+3. I trade the 3x ETF's, and SRS, EEV, SDS, etc..
I trade FAS/FAZ at $10K per trade with 1 minute chart, fibs, 8-10 period moving average, RSI. Next to FAS/FAZ I have Nasd, SPX, DOW with 1-3 minute charts. Certainly enough action, a good deal of brain damage, may trade this via IB platform 10X a day. As soon as I buy, I am ready to sell based on Loss expected $30-$60, gains $100 - $1,000, expect 30-40% losses.
Simple, although at times it seems like paint drying, with only some excitement during the day, but retired, on the beach and beats fishing or golf.
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why would you want to swtich from forex and indices (futures?) to stocks?

Scalping one stock all day will make doing your taxes SUCK. Enjoy the wash sales and listing each trade individually. In and out 10 times a day 5 days a week 50 weeks a year = 2,500 round trips all to be listed individually on your taxes.
 
Quote from 1a2b3cppp:

Scalping one stock all day will make doing your taxes SUCK. Enjoy the wash sales and listing each trade individually. In and out 10 times a day 5 days a week 50 weeks a year = 2,500 round trips all to be listed individually on your taxes.
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Not if you are part of a prop llc or declare trader status....
 
Taxes isn't a problem with IRA's. In the past I had "trader status" and considering going back for the brokerage accounts.
 
hey guys thanks great stuff...

as i said i want t try , i will not stop forex or indices trading , but the other day i was watching GS , really nice for scalping ! maybe not always , so i open this thread to c if there is some traders who scalp one or 2 stock and make great profits , i like to scalp forex but i need change and i want to expand my scalping opportinities . anyway sometimes i trade stocks via cfd and sometimes via DMA broker , i dont live in the US and i didnt pay taxes so far !
 
I've been trading/scalping almost exclusively in IYR/SRS the past year and have had great success. The key is to watch and be on top of the news of the major components and also follow XLF as it tends to lead/confirm a breakout.

Starting to watch the QQQQ's but haven't been able to get a read on that market yet.
 
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