Scalping

N

nwbprop

With the recent increase in volatility, do you think scalping is becoming a more lucrative option in trading? When i raised this question a few months earlier, many traders thought scalping was not a viable option. I ask this because i think heartland securities is primarily scalpers. Any reflection would be greatly appreciated.



jc
 
Zeitgeist??? hahaha, word of the day a couple of times. But seriously, what is the view on scapling with the recent adjectitious volume.:D

jc
 
The some of the most profitable traders in our San Diego office are scalpers.

As a matter of fact, the most profitable trader in the firm is a scalper, I had the pleasure of meeting him recently in Las Vegas.

I used to think scalping was dead also, until I saw the incredible P&L these scalpers have been producing the last few months....guess what I am doing now? SCALPING!

Good Luck to you!

Jonathan Kirkland
 
Originally posted by JWKirkland
The some of the most profitable traders in our San Diego office are scalpers.

As a matter of fact, the most profitable trader in the firm is a scalper, I had the pleasure of meeting him recently in Las Vegas.

I used to think scalping was dead also, until I saw the incredible P&L these scalpers have been producing the last few months....guess what I am doing now? SCALPING!

Good Luck to you!

Jonathan Kirkland
More...

Thanx, I also wish you the best of luck. A couple questions if i may. I Luv picking the brains of what i am striving for(sounds kind of gross). Did you recognize any personality traits that seemed pertinent to their success that seemed particular for scalping?
Are the scalpers that you mentioned primarily nyse, nasdaq, or a combination of both? thanx in advance.


jc
 
The Nasdaq scalpers I know have been having a pretty tough time except for that week with all the volume last month. They were from the old school style of scalping. They will still make money but churn up 1-2 million shares most days to make it. Because of that they get dirt cheap rates which help the cause. In part though it depends on your definition of scalping. Some nasdaq scalpers elsewhere might be doing better trading less volume and thinner stocks though.

The NYSE scalping traders I hear of are actually doing pretty well. They still have monster days. Just wish I knew how to trade NYSE stocks better or knew what they were looking at to scalp like that. That would be great if anyone wants to share.
 
Originally posted by nwbprop


Thanx, I also wish you the best of luck. A couple questions if i may. I Luv picking the brains of what i am striving for(sounds kind of gross). Did you recognize any personality traits that seemed pertinent to their success that seemed particular for scalping?
Are the scalpers that you mentioned primarily nyse, nasdaq, or a combination of both? thanx in advance.


jc
More...

Yes, I will try.

1. Trade the same stocks everyday. (2-4)
2. Trade NYSE stocks only.
3. Have bullets or conversions to trade both ways.
4. Watch futures and go with flow.
5. Cut losers right away.
6. Do zero research except checking a little news in the morning.
7. Communicate with the others in the office.

NYSE has been great for us but the disclaimer here is that we hardly trade naz stocks because we have always traded listed.

Naz scalpers would be better to comment on the naz scalping than I can. I am sure there are tremendous scalpers still making money trading the naz, too.

Jonathan
 
I do not want to sound like Don (no offence Don) and you are welcome to blast me I guess.....(typing timidly now)

We cover scalping in our workshop. Feel free to ask for more information or check out the recent posts on this board in regard to the training workshop we offer in the Hook Up section.

Plug over with.

(Sorry guys, as far as my posts are concerned, I plug on a 20:1 ratio.)
 
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