T-REX Journal - "Scalping 101"

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Quote from T-REX:

Thanks for all of your kind words of encouragement during my sons illness.

Magna, I thank you for keeping a tight lid on things in my absence as you always do.

:)
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T-REX, man it's nice to see there's still some ace traders alive around here.

Regarding your trade entries - Do you enter trades at market or do you wait for price to enter on discounts / use limit-orders to minimize stops/exposure? Personally, I am a scalper, too, but quite possibly I'm a lot more short-term and keying off different things. Yet I'd be interested to hear about your entries - And exits. What stops do you use?

Cheers and Happy New Year's,
Scientist.
 
Quote from Scientist:

T-REX, man it's nice to see there's still some ace traders alive around here.

Regarding your trade entries - Do you enter trades at market or do you wait for price to enter on discounts / use limit-orders to minimize stops/exposure? Personally, I am a scalper, too, but quite possibly I'm a lot more short-term and keying off different things. Yet I'd be interested to hear about your entries - And exits. What stops do you use?

Cheers and Happy New Year's,
Scientist.
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Hello Scientist,
Cheers and Happy New Year's 2 U 2.

Thank you for your kind words.

Re: market orders = I would only do a market order if my absolute life depended on it!!!
I prefer buy/sell "stop limit" orders on entry and exits.
I do however use buy/sell limits too.
Re: $$$ management = I use (on 1 min charts). I will use a 2-3 point initial stop-loss. On swing trades I will use a much larger stop-loss i.e. 7.50+ points.

Thank you.
 
Quote from sulong:

I'm trying to figure this out, is this it?
(S)top( A)nd (R)everse
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Or (S)upport (A)nd (R)esistance

FYI: T-Rex.....intents and purpose....not....intense purposes
 
Quote from ortega:

Or (S)upport (A)nd (R)esistance

FYI: T-Rex.....intents and purpose....not....intense purposes
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I really do not use the SAR but that it looks good on a chart.
SAR is part of the methodology.
 
Quote from Magna:

This thread will not degenerate into a discussion of another website. While I'm aware of occasional links in the PDF files there will be no links in the posts. There will also be no solicitation thru PM (please let me know if such happens). Other than that T-REX is offering discussions of trading value to members at ET. I ask that all those posting stick to trading and offer the same. Thanks.
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thank you Magna.

I don't know how the discussion turned to websites?
I started this thread to teach my method of scalping
with the 2 Bar Charlie. This is not a solicitation to offer paid subscriptions to any newsletter or service.
I did offer a free "hotlist" to ET members only some time ago
but I have since discontinued that offer.
I'd rather stick to the topic at hand and post trades in this forum.

thank you.
 
Quote from T-REX:

I really do not use the SAR but that it looks good on a chart.
SAR is part of the methodology.
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You don't use it, but it is part of the methodology? That makes it sound like you either don't follow the method, or you don't follow the whole method (thus making a new and slimmer version of the method).

I'm a little confused, but what else is new. :)
 
Quote from phoenix_rising:

You don't use it, but it is part of the methodology? That makes it sound like you either don't follow the method, or you don't follow the whole method (thus making a new and slimmer version of the method).

I'm a little confused, but what else is new. :)
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Thank you for bringing that to my attention.
that was a key error.
I meant to type: SAR is "NOT" part of the methodology.
It is too late for me to change it now. But for the record:
CORRECTION: SAR is NOT part of the methodology!
 
Quote from Scrutch:

I'm looking at a trade report for Friday and your trades are for Monday and Tuesday... Did I miss something here before we even get started? :confused:
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Sometimes when I am in a hurry I forget to change the date on the Trading Plan. As you follow along it will become apparent what day I'm talking about.

sorry for the confusion.
:)
 
Quote from T-REX:

Re: market orders = I would only do a market order if my absolute life depended on it!!!
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LOLOL! I can identify with that... For those prone to a market-order habit - Do the DAX for a while... :D

I prefer buy/sell "stop limit" orders on entry and exits.
I do however use buy/sell limits too.

Re: $$$ management = I use (on 1 min charts). I will use a 2-3 point initial stop-loss. On swing trades I will use a much larger stop-loss i.e. 7.50+ points.
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Same order types here, only limit brackets (generally even for exit), but the 2-3 point initial loss seems like a severe tolerance, at least to me... Well. Different targets, different frequency, different game. Interesting thread, T-REX. Keep maulin' & rippin'!
 
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