Scalping ???
- Thread starter Hawker
- Start date
<b>Conclusion: the richer you're, the higher chances of staying longer as a trader.Certainly, it's not a rocket science!</b>
<i>Very recent "numbskull" wisdom of yours.You obviously don't trade.</i></b>
-- You're wrong. I trade.
<b>"In general, I think games like poker or scrabble are very close to trading. People I know who are very good at scrabble and poker have - first of all - strong psychical skills. So, to succeed in trading, you must be strong psychicaly."</b>
<i>So how about you DT-waw? Are you a strong psychic? Enlighten me with the light of shiva! LOL!</i>
<b>"Maybe we should all focus on psychological aspects of trading, rather than seeking great systems and money management strategies."</b>
<i>Yeah, Mr.Supertrader.
</i>
-- my point there was: keep it simple, if you're aren't prepared psychologically, systems won't help you.
<b>"$150 per day with $2k acct is BS, I guess. Nooo, I'm sure it is.</b>
<i>Idiot. Stop talking about things you don't know."</i>
-- OK. Mr Supertrader. Tell us all that you are able to make $150 daily on a consistent basis for every $2k acct. I can't wait.
<b>I will need only one 15 inch monitor to track E-mini chart instead of 2 or 3 bigger monitors required to track 10 or more stock charts." </b>
<i> Good Luck to you, buddy</i>
<i>I think you all get the picture here.
</i>
-- I'm still using that one 15 inch monitor. What's wrong with that? I'm not daytrading 15 stocks at a time.
<b>"eSignal costs $185/month plus $22 Eurex fee. That's not cheap.
"</b>
-- It's not cheap. I prefer to save $207/mo in my pocket. I really don't need eSignal now, although I used it for few months.
<b>"Same with "cut your losses, let your profits grow". If your losses can be max 1 point, and you take every profit at 3 points, you will likely to have 3 times more losing than winning trades."</b>
<i>No comments.</i>
-- this is true when trends = noise, or Hurst Exponent ~0.5
When we have strong trends, strategy "cut losses and let profits grow" works.
<b>"Thereâs a serious possibility, that majority of traderâs results come from the luck factor only."</b>
<i>No luck, brother. Hint: Just iron discipline, due diligence and hard work. U got a lot to learn, bro...</i>
-- I remember this thread, Oct 2001. It's skills and luck. You say "NO luck". That is obviously not true.
<b>"32.33% average p.a. return in the last 5 years. 19.93% max drawdown. Very good IMO"</b>
<i>LOL - Well in YOUR HUMBLE opinion. Keep plodding, brother. You'll be in the league one day.</i>
-- I remember this was Quadriga Fund performance. Would you done better with $50-$100M, Mr. Supertrader?
Otherwise, you can apologize for your B.S. in an appropriate manner and we forget the issue. It's your choice.
You have the choice : Peace ~ War.
-- You call me idiot , my posts - crap. And you expect apologies from me? As I said, I just bring up some quotes from your posts, bold here and there. And you are getting angry, mad. You take it personally. Stay cool, brother!
<i>Very recent "numbskull" wisdom of yours.You obviously don't trade.</i></b>
-- You're wrong. I trade.
<b>"In general, I think games like poker or scrabble are very close to trading. People I know who are very good at scrabble and poker have - first of all - strong psychical skills. So, to succeed in trading, you must be strong psychicaly."</b>
<i>So how about you DT-waw? Are you a strong psychic? Enlighten me with the light of shiva! LOL!</i>
<b>"Maybe we should all focus on psychological aspects of trading, rather than seeking great systems and money management strategies."</b>
<i>Yeah, Mr.Supertrader.
</i>-- my point there was: keep it simple, if you're aren't prepared psychologically, systems won't help you.
<b>"$150 per day with $2k acct is BS, I guess. Nooo, I'm sure it is.</b>
<i>Idiot. Stop talking about things you don't know."</i>
-- OK. Mr Supertrader. Tell us all that you are able to make $150 daily on a consistent basis for every $2k acct. I can't wait.
<b>I will need only one 15 inch monitor to track E-mini chart instead of 2 or 3 bigger monitors required to track 10 or more stock charts." </b>
<i> Good Luck to you, buddy</i>
<i>I think you all get the picture here.
</i>-- I'm still using that one 15 inch monitor. What's wrong with that? I'm not daytrading 15 stocks at a time.
<b>"eSignal costs $185/month plus $22 Eurex fee. That's not cheap.
"</b> -- It's not cheap. I prefer to save $207/mo in my pocket. I really don't need eSignal now, although I used it for few months.
<b>"Same with "cut your losses, let your profits grow". If your losses can be max 1 point, and you take every profit at 3 points, you will likely to have 3 times more losing than winning trades."</b>
<i>No comments.</i>
-- this is true when trends = noise, or Hurst Exponent ~0.5
When we have strong trends, strategy "cut losses and let profits grow" works.
<b>"Thereâs a serious possibility, that majority of traderâs results come from the luck factor only."</b>
<i>No luck, brother. Hint: Just iron discipline, due diligence and hard work. U got a lot to learn, bro...</i>
-- I remember this thread, Oct 2001. It's skills and luck. You say "NO luck". That is obviously not true.
<b>"32.33% average p.a. return in the last 5 years. 19.93% max drawdown. Very good IMO"</b>
<i>LOL - Well in YOUR HUMBLE opinion. Keep plodding, brother. You'll be in the league one day.</i>
-- I remember this was Quadriga Fund performance. Would you done better with $50-$100M, Mr. Supertrader?
Otherwise, you can apologize for your B.S. in an appropriate manner and we forget the issue. It's your choice.
You have the choice : Peace ~ War.
-- You call me idiot , my posts - crap. And you expect apologies from me? As I said, I just bring up some quotes from your posts, bold here and there. And you are getting angry, mad. You take it personally. Stay cool, brother!
Quote from Ditch:
Dt-waw has a problem with people making money. he sounds awfully pissed off lately. probably had to sell his Porsche.
I don't have a problem with people making money. As you can see I stay calm. Sounds like Scientist is pissed off a little. But that's his problem. Good luck and good trading to you Brother Ditch and to you Brother Scientist. Candle, bring here some love and peace!
PS. I don't have a Porsche. And I can't afford to buy a seat at CME. Sounds like I'm not as good as Scientist at trading
I was the one who started this thread with a very simple uneasiness about scalping!! You guys have taken this to a different road falling into a personal dispute. Come on people !! We all have a different point of view and different ideas about any business or any issue in life thats why all the colors are there for..I don't care if guy A is doing money with his ideas I don't care if guy B is doing money in a different way, as long as I can learn something about each one for my own benefit thats why is ET and other sites for to share ideas and learned something every day from other fellow traders!!
Quote from Scientist:
I'm just gonna quote some of the crap DT-waw came up with, so he knows what he's up to in terms of embarrassing himself before he responds here again; find my comments in italic;
<b>Conclusion: the richer you're, the higher chances of staying longer as a trader.Certainly, it's not a rocket science!</b>
<i>Very recent "numbskull" wisdom of yours.You obviously don't trade.</i>
</b>
[Re: Time&Sales on Futures]: <b>"I also don't see any advantages to it on the futures. In 1999/2000 when many Naz stocks had daily ranges of $10-20 it made sense. But still, classic technical indicators had more or less the same value."</b>
<i>Again you have no idea what you're talking about.</i>
<b>In my view, markets at tick or 1-minute level aren't far away from random.</b>
<i>Well, you prejudiced freak - To me, 1-minute isn't random. I even use 20S,15S,12S,10S,5S charts as well as tick charts...They still form readable patterns. How dare you to judge what is and what isn't regarding what I make my daily bread with.</i>
<i>You talk about stuff you don't understand:</i>
<b>"I think your method of calculating slippage (when using market orders) overestimates it. Last trade price is either at bid or ask. So, 1/2 of your trades should have zero slippage, while other half - slippage = spread. That's why my calculations assume 0.25 / round turn. </b>
<i>Get away man. You have no idea what you're talking about? Learn about X-market and how actual slippage works. Understand ask & bid first before you poop around here like a big authority.</i>
<b>"In general, I think games like poker or scrabble are very close to trading. People I know who are very good at scrabble and poker have - first of all - strong psychical skills. So, to succeed in trading, you must be strong psychicaly."</b>
<i>So how about you DT-waw? Are you a strong psychic? Enlighten me with the light of shiva! LOL!</i>
<b>"Maybe we should all focus on psychological aspects of trading, rather than seeking great systems and money management strategies."</b>
<i>Yeah, Mr.Supertrader.
<b>"$150 per day with $2k acct is BS, I guess. Nooo, I'm sure it is.</b>
<i>Idiot. Stop talking about things you don't know."</i>
<b>"Sure I saw the video! Prodigy is one of my favourite bands, among Red Hot Chilli Peppers, U2, Nirvana... </b>
<i>No comments. How old are YOU, DT-waw?</i>
<b>
"I'm the trouble starter, fuckin' instigator
I'm the fear addicted, danger illustrated
I'm a firestarter, twisted firestarter,
you're the firestarter, twisted firestarter
I'm the bitch you hated, filth infatuated
Yeah, I'm the pain you tasted, fell intoxicated
I'm a firestarter, twisted firestarter,
you're the firestarter, twisted firestarter
I'm the self-inflicted, mind detonator
Yeah, I'm the one invented, twisted animator
I'm a firestarter, twisted firestarter,
you're the firestarter, twisted firestarter
starter... starter... starter..."</b>
<i>How old are you again, buddy? 13-16?</i>
<i>Open to wise and bold philosophical statements:</i>
<b>"More, anything I say *about* my belief is inside logic. Oh.. you don't get it? It's in your heart, not in your mind. You gotta feel it. How do you know sex was great? You can feel it in your penis, not in your mind! Yeah... my faith is 100% - 'banana amuse why house tree we why'. It is truth for me. If it's not truth for you, well you go to Hell for eternity iiiiihahaa!"</b>
<i>Ambitious:</i>
<b>"I want to place an 4,000-share limit order on a Nasdaq stock that has 10,000,000 daily volume with limit price between current bid and ask. What would be my chances of being quickly ( in less than 10 seconds ) filled if an order is send through Island ECN?</b>
<b>"What number of NQ100 Emini contracts can I daytrade "safely"? There's almost always 5 or more contracts on the best bid/ask levels. Sometimes 20, 50 or even 100.
I will need only one 15 inch monitor to track E-mini chart instead of 2 or 3 bigger monitors required to track 10 or more stock charts." </b>
<i> Good Luck to you, buddy</i>
<i>I think you all get the picture here.
<b>"eSignal costs $185/month plus $22 Eurex fee. That's not cheap.
<i>Tight sphincter? If your bedside-vaseline doesn't work, you could always go to the local pharmacy and get "Anusol" for remedy. Heard it works really well.
<b>"The most important factor which makes profitable scalping close to impossible are execution issues, IMO. You can use market or limit orders. With limit you can get better price but no guarantee of execution, as a result market can move against your position quickly, and you can try to "catch" it with limit orders for a long time without success. With market orders spread is your cost. And it's pretty high cost. Say you make 30 trades per day on ES. Spread is 0.25 pts x 30 = 7.5 pts ~ half of intraday range."</b>
<i> Complete nonsense. Again, how dare you to judge scalpers you part-time investor. You're so full of manure man. Sorry.</i>
<b>"I've noticed: the longer time frame the more trends > noise. At intraday level: trends = noise".</b> <i> What a pile of rubbish. Go and try scalping and come back in a couple of years.</i>
<b>"Same with "cut your losses, let your profits grow". If your losses can be max 1 point, and you take every profit at 3 points, you will likely to have 3 times more losing than winning trades."</b>
<i>No comments.</i>
<b>"Computer can make so many statistics about the general nature of price behavior. It doesn't even have to know all possible price scenarios, all possible point&figure charts. Very very good system can be better than any human over the long term, since trading is nothing more than numbers."</b>
<i>Yeah. That's why computers do all the trading these days. And space shuttles fly unmanned. Why use people anyway?</i>
<b>"Thereâs a serious possibility, that majority of traderâs results come from the luck factor only."</b>
<i>No luck, brother. Hint: Just iron discipline, due diligence and hard work. U got a lot to learn, bro...</i>
<b>"Yes, that is an possible explanation. I wouldn't be suprised if FasterPussyCat, mrmarket or other internet sick freak will claim super high returns. But guys like MrNBBO, Scientist seem to be rational people.</b>
<i>Thanks for your comment.Why the sudden change of sentiment?</i>
<b>"32.33% average p.a. return in the last 5 years. 19.93% max drawdown. Very good IMO"</b>
<i>LOL - Well in YOUR HUMBLE opinion. Keep plodding, brother. You'll be in the league one day.</i>
-------------------------------------------------
All in all, I just zapped through a very few of your posts to find all this crap. If you want me to extract more stuff and go onto a serious feud with you by all means - Be afraid. I'm not gonna be peed on by dirty little dogs.
Otherwise, you can apologize for your B.S. in an appropriate manner and we forget the issue. It's your choice.
You have the choice : Peace ~ War.
Sincerely,
~Scientist
I was the one who started this thread with a very simple uneasiness about scalping!! You guys have taken this to a different road falling into a personal dispute. Come on people !! We all have a different point of view and different ideas about any business or any issue in life thats why all the colors are there for..I don't care if guy A is doing money with his ideas I don't care if guy B is doing money in a different way, as long as I can learn something about each one for my own benefit thats why is ET and other sites for to share ideas and learned something every day from other fellow traders!!
Quote from DT-waw:
No, I don't have problems with scalping, b/c I simply don't scalp. I should go to sleep at this hour, but I wanted to read your posts. You're really entertaining! Here's some of your stuff:
Good luck, bro...
I was the one who started this thread with a very simple uneasiness about scalping!! You guys have taken this to a different road falling into a personal dispute. Come on people !! We all have a different point of view and different ideas about any business or any issue in life thats why all the colors are there for..I don't care if guy A is doing money with his ideas I don't care if guy B is doing money in a different way, as long as I can learn something about each one for my own benefit thats why is ET and other sites for to share ideas and learned something every day from other fellow traders!!
Quote from Hawker:
Iâve read about it in some books, magazine articles and in the Web, however I donât get it. Is not that Iâm trying to be a scalper I donât have the money ,the skill and the tools to become one but Iâm asking myself how they do ?? How tight are the stops or how large are the profit target working on YM , NQ or SP ?? Specially the YM where the tick is 5 bucks?? Is a very hard work !! Somebody illuminate me pleaseâ¦
I was the one who started this thread with a very simple uneasiness about scalping!! You guys have taken this to a different road falling into a personal dispute. Come on people !! We all have a different point of view and different ideas about any business or any issue in life thats why all the colors are there for..I don't care if guy A is doing money with his ideas I don't care if guy B is doing money in a different way, as long as I can learn something about each one for my own benefit thats why is ET and other sites for to share ideas and learned something every day from other fellow traders!!
<b>What you didn't realize, Mister Twister, is that you're attempting to make an idiot out of me, whether you're calling me one or not.Quote from DT-waw:
<b>Conclusion: the richer you're, the higher chances of staying longer as a trader.Certainly, it's not a rocket science!</b>
<i>Very recent "numbskull" wisdom of yours.You obviously don't trade.</i></b>
-- You're wrong. I trade.
<b>What? Magic Cards?
Man, this wisdom might apply to YOU, because you're a position trader, and hence this is what matters a lot - You need to make a living off a trading strategy that has significantly lower potential returns than day trading, let's not mention scalping, which this thread is about. Don't assume that what applies to you also applies to others. Being "richer" as a trader is more often a setup for failure than not, particularly when beginning. Honestly. DON'T confuse newbies, PLEASE!!!<b>
<b>"In general, I think games like poker or scrabble are very close to trading. People I know who are very good at scrabble and poker have - first of all - strong psychical skills. So, to succeed in trading, you must be strong psychicaly."</b>
<i>So how about you DT-waw? Are you a strong psychic? Enlighten me with the light of shiva! LOL!</i>
<b>No response to this yet???</b>
<b>"Maybe we should all focus on psychological aspects of trading, rather than seeking great systems and money management strategies."</b>
<i>Yeah, Mr.Supertrader.
-- my point there was: keep it simple, if you're aren't prepared psychologically, systems won't help you.
<b>MY POINT here was: You're confusing newbies with false statements. To have a position-trading pooper proclaim on ET that "We should focus on [...] rather than seeking systems and money management strategies" is not what we need!</b>
<b>"$150 per day with $2k acct is BS, I guess. Nooo, I'm sure it is.</b>
<i>Idiot. Stop talking about things you don't know."</i>
-- OK. Mr Supertrader. Tell us all that you are able to make $150 daily on a consistent basis for every $2k acct. I can't wait.
<b>I didn't say that I can - whether I could or not - I'm just saying that you can't say what you don't know. You really don't - Do you??? Well the way it looks I'm not gonna trade with a $2k acct. in a hurry. But maybe you soon will, with your attitude.</b>
<b>I will need only one 15 inch monitor to track E-mini chart instead of 2 or 3 bigger monitors required to track 10 or more stock charts." </b>
<i> Good Luck to you, buddy</i>
<i>I think you all get the picture here.
-- I'm still using that one 15 inch monitor. What's wrong with that? I'm not daytrading 15 stocks at a time.
<b>Oh I'm not saying it's wrong. I'm not saying anything is wrong with driving a '78 Mitsubishi Sigma, either.</b>
<b>"eSignal costs $185/month plus $22 Eurex fee. That's not cheap.
-- It's not cheap. I prefer to save $207/mo in my pocket. I really don't need eSignal now, although I used it for few months.
<b>LOL! Well that's great and fine for you. You're a position trader, you might as well (and probably do) use BigCharts.com - And btw. how is that sphincter muscle going these days?</b>
-- this is true when trends = noise, or Hurst Exponent ~0.5
When we have strong trends, strategy "cut losses and let profits grow" works.
<b>This might be true for you. And this is precisely why you're not welcome on this thread with statements like that. I've explained to you X-many-times how scalping works and that it's not the same "let profits run, cut losses short mentality as your position trading. You kept asking me, I detailed you more than I should have, and you're still bugging me.
Don't go onto a scalping thread and poop that Intraday trends = noise.
Saying trends = noise is an oxymoron in itself.</b>
<b>"Thereâs a serious possibility, that majority of traderâs results come from the luck factor only."</b>
<i>No luck, brother. Hint: Just iron discipline, due diligence and hard work. U got a lot to learn, bro...</i>
-- I remember this thread, Oct 2001. It's skills and luck. You say "NO luck". That is obviously not true.
<b>NO. NO. NO DT-waw. Whatever t.f. your name means, this is NOT what the majority of trader's results come from. It really isn't.
I wrote some posts on it yesterday (what's important about trading and why direction / being right / lucky doesn't matter at all. Check them out - please.
My equation: You think luck = You're a loser. Period.</b>
<b>"32.33% average p.a. return in the last 5 years. 19.93% max drawdown. Very good IMO"</b>
<i>LOL - Well in YOUR HUMBLE opinion. Keep plodding, brother. You'll be in the league one day.</i>
-- I remember this was Quadriga Fund performance. Would you done better with $50-$100M, Mr. Supertrader?
<b>Wait... Bro, didn't you say in a recent post;</b><i>
"Regarding Scientist's "law of diminishing returns". I don't think it has significant impact here. Go to www.iasg.com site and view "Top 100 Managers Ranked by Latest 60 Months Annualized Return" or ranked by Sharpe ratio. Did you notice any negative correlation between return and asset under mgmt? I don't see it."</i>
Otherwise, you can apologize for your B.S. in an appropriate manner and we forget the issue. It's your choice.
You have the choice : Peace ~ War.
-- You call me idiot , my posts - crap. And you expect apologies from me? As I said, I just bring up some quotes from your posts, bold here and there. And you are getting angry, mad. You take it personally. Stay cool, brother!
Get this man: I don't need bullshit from swing-trading rookies.
This was originally a scalping thread, where people were seriously discussing this trading style. Until you pooped along, got all sensitive and sceptical of the issue of scalping, as if you've had past frustrations on the issue.
So I say: "Why so sceptical? Got burnt?
"[with a smile btw to express irony and in order not to be offensive!], and you go ahead ridiculing me, going through hundreds of my posts in order to find some that are suitable to be taken out of context and malified. If you think that's not offensive, then you're a frustrated little fellow.So where's that Porsche gone?
Good Luck to you brother
P.S: Are you bored???
~Scientist</b>
Staying calm is good. You're still engaging in warfare, though, calm or not.Quote from DT-waw:
I don't have a problem with people making money. As you can see I stay calm. Sounds like Scientist is pissed off a little. But that's his problem. Good luck and good trading to you Brother Ditch and to you Brother Scientist. Candle, bring here some love and peace!
PS. I don't have a Porsche. And I can't afford to buy a seat at CME. Sounds like I'm not as good as Scientist at trading
Am I pissed off? Yes I am! Am I angry? Sure not. You don't know me yet. The only thing that can make me angry is the current destruction of our planet and all the actions of nasty politicians and corporations out there. Not a little piker like you.
Regarding Ditch - Well he's right about DT-waw isn't he?
"He sounds awfully pissed lately?" Is probably the finest way of putting it, brother Ditch.
Although "he probably had to sell his Porsche" is probably inappropriate since he's most likely still working on the down payment for his '78 Mitsubishi Sigma...
No, you don't have a Porsche, and I wouldn't even buy one, I do have a nice sports car that I'd far prefer to a Porsche.
And yes, I'd consider buying a seat at CME, and no, of course you couldn't afford one. Don't poo-poo ME for it, though!
Why? Because you don't even grasp the most basic concepts of trading, not to mention courtesy. How do you expect to make as much money as a pro day trader / scalper can make? Stop being ironeous.
You're a position trader and dare to undermine a scalper on a scalping thread about his integrity and ridicule it in every way possible. You've been haunting me for a while now with your day trading scepticism. Go back to study BigCharts.
Stop bothering me man. I think I've made some clear and valid points here. I'm expecting an excuse from you.
Thank You very much for your consideration, Brother DT-waw
Sincerely,
~Scientist