Scalping
- Thread starter nayadj
- Start date
Good one!
Im my case, when i started on the market i was looking all the time at the money and sometimes i was forgetting the purpose of the trade.. The results wasn't good at all, of course..
I started to be profitable when i forget the money and just trade the setup.
Of course is not easy but is the only way to start see the money came into the account.
Currently, I do scalp on ES, ZN, ZB, CL, EURUSD, USDJPY, NQ and ER2.
Hoodoo, thanks for being so frank. Could you tell us what your 'edge' was? I find it a very unclear concept, and most won't talk about it for fear of giving it away, but since your's is not working anymore you might want to explain it to us.
Some mean by 'edge' some special 'effect' in the market they discovered and exploit. Others mean a personal winning 'mood' or virtuosity that can hardly be explained.
Thanks, would be interested,
Ursa..
an edge means you have the ability to recognize market conditions that allow a trade entry at that level to have positive expectancy.
it's that simple
there are all kinds of edges .
and edge is also a wholistic concept. a hyooge part of my edge has NOTHING to do with trade analysis itself (iow, decisions as to entry/exit, market analysis etc.). it has to do with understanding how to manage risk
the vast majority of traders trade emotionally, irrationally, and impulsively.
NOT being those three things is an edge in and of itself
it's that simple
there are all kinds of edges .
and edge is also a wholistic concept. a hyooge part of my edge has NOTHING to do with trade analysis itself (iow, decisions as to entry/exit, market analysis etc.). it has to do with understanding how to manage risk
the vast majority of traders trade emotionally, irrationally, and impulsively.
NOT being those three things is an edge in and of itself
market profile and knowing your trendlines is a great advantage,othe than that the 15 and 30 minute charts,hand charting the spus,{es}keeps you in touch with the market but it gives you a micro view,you must know the trendlines for macro view,helps you keep perspective,when trading oil it moves so fast you sort of trade it like a pingpong ball,knowing where the support or res lines are ,its best when its bouncing off of one,williams % lets you know when volume is decreasing on rallys,its like making soup,put in what you like,whats works good for you..it helps if you turn down the volume on cnbc,thier opinions can be about last week or 3 months ago and your trading this second,you dont need the distraction,if something happens you,ll see the movement in your mrkt first and you can turn it up..not trading is one of the best trades...it doesnt lower your profits,run up your commish or reuce your confidence
My edge was a very unusual one but if I'm in a group usually one person will claim that they knew about it when it was happening. Island ecn was telegraphing buy signals.
I discovered it purely by chance and it was the holy grail for me for a while. If you look at some of my very first posts you can read about it.
I discovered it purely by chance and it was the holy grail for me for a while. If you look at some of my very first posts you can read about it.
