SJL's ES 6 ticks scalping

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Q3D said:
It could work, but it's highly improbable. A day trader should try for +18 to +24 tick scalps to even out the draw-downs from losses due to close stop placement and the average small reward target (6 ticks) or have an unspeakably efficient edge.
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How does that strategy work for you?

I think it is unwise to be so inflexible in your thinking... "Day trader should" do this or that. Trading is situational.
 
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I haven't been able to anticipate and profit from the larger moves yet due to the distraction of always looking for around 6 ticks on ES trades or just not looking at price action from a higher time frame. I usually end up taking a short position as the new trend starts, resulting in losses of the 6 ticks I earned on the previous scalp AND 6-20 ticks lost off the new trend, in addition to commissions and fees.
 
onemoreshot said:
Sure this strategy could work if the trader is good and selects low risk entry points.
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And we could all win Powerball if we just buy "low risk" tickets - if we have a couple of million spare ticket money laying around.

Define low risk as it pertains to scalping?
 
That's when I scalp with a swing stop. When I scalp with a scalping stop of 6 ticks or less the results are even worse after expenses are deducted.
 
SunTrader said:
And we could all win Powerball if we just buy "low risk" tickets - if we have a couple of million spare ticket money laying around.

Define low risk as it pertains to scalping?
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Trade entry at edge of s/r where trade breaks down within a few ticks of entry.
 
onemoreshot said:
Trade entry at edge of s/r where trade breaks down within a few ticks of entry.
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Obviously you are not talking about the meanest mean reverting futures market in the world - ES. Right?

Which will tear a trader a new ahole trying to bet on a breakout continuing "this time". And the next, and ...
 
SunTrader said:
Obviously you are not talking about the meanest mean reverting futures market in the world - ES. Right?

Which will tear a trader a new ahole trying to bet on a breakout continuing "this time". And the next, and ...
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Didn't say anything about a BO.
 
SJL said:
...I will be posting a screenshot after done with trading for the day. I will be adding more information if necessary later on. Thanks for reading. Any helpful advice or suggestions will be appreciated!
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SJL,

How did you perform on Thursday and Friday during the unusual volatility on those particular two trading days ?

Also, did you see any difference in the price action as a scalper on those two trading days versus the prior trading days of Monday, Tuesday and Wednesday ?

Do you still plan on posting a screenshot ?

Why did you choose the S&P 500 Emini ES futures versus any other futures trading instrument ?
 
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wrbtrader said:
SJL,

Why did you choose the S&P 500 Emini ES futures versus any other futures trading instrument ?
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Good question. Why not the Nasdaq 100 ? What about the Dow futures (YM) ?
Finally, has EMD replaced the old Russell 2000 index futures ? I remember the Russell 2000 would really "rock 'n roll" at times.
 
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