T-REX Journal - "Scalping 101"

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T-rex..

I dont understand what u are talking about. Period.

Either be more clear and elucid or this journal is a big waste of time. These forums have some professional traders like myself.. and we can smell BS a mile a way.

Not to insult.. but u are starting to sound like old man Hershey.


--MIKE
 
Just try to show us some added value.. something of an edge in what u are doing.. instead of posting a few charts with SAR's on them.. when u dont even have SAR's part of the plan.

You are posting 1 min charts telling us sometimes u swing and sometimes u scalp.

I'm lost bro.

--MIKE
 
Quote from ortega:

Scientist,

Hi - You are absolutely correct in saying intents and purposes, but so am I in saying intents and purpose. It can be used either way.
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Now you're doing it again!

No, "intents and purpose" is wrong, period. Grammatically, it's an "article mismatch", mixing plural and singular. I suppose one could say "Intent and purpose" instead of "Intents and purposes", but what you're trying to convey is definitely not correct. Thanks for playing.

Regarding SAR: As for Parabolic SAR and SAR in general - Well, generally, SAR, at least in the parabolic, refers to "Support And Resistance", but many people indeed use it as stop-and-reverse! T-REX is right in that he said it can be used the same way / can be the same thing. It really depends on what your trading style is, too. Generally, when support or resistance broken against you, you'd be looking to reverse, as well.

Personally, I've given up on TA a long time ago, anyway. It's too unreliable, I call it all snakeoil. I watch price & volume in several periodicities, that's far enough to evaluate in order to make decisions. I want to see the genius who can watch price, volume, order flow in true detail, and still have the time to examine TA indicators and other spaghetti on their chart. But then I guess it's a bit different in scalping, anyway.

T-REX: You have lots of questions coming up. Sure it's a tough call satisfying ET'ers and keeping flamers at bay, but you need to clarify some things here and answer some questions, so we can move on!

Cheers!
S
 
Quote from Baruch:

So you make a living trading the Dax with no other weapons than price and volume?
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Oh, yep. Definitely primarily. Add order flow and correlation, and few more charts, and that's plenty!
I've made a living on ES & NQ like that for quite some time, too.

However, if you really want some TA things, I do have a few things that I use occassionally, such as an 18EMA on the DAX 5min, I find it to be a nice enough S&R tool to have it on the chart. I've also used Keltners and LSMA bands and a few other things, but essentially, I only look at these (in approximate order of importance):

- Volume
- Depth of Market
- Tape (Time & Sales)
- Price
- Intermarket correlation (US: ES, NQ, YM, ZN; EU: DAX, ESTX, CAC, GBL)
- Intraday "floor" pivots (and their divisions)
- Trends on larger TF (15, 60, D)
- Fib Levels on larger TF (15, 60, D)

I essentially used exactly the same (all above) tools for the ES that I now use for the DAX, no kidding. It took me about 2 days to do the switch from ES to DAX, I couldn't believe it myself. Essentially, most futures markets are pretty similar in the basics, but as soon as you use indicators, you need to adapt them etc, which makes things more complicated - another reason for not using indicators. You might wonder why "price" is only on place 4 - well it really is. At best! I believe, contrary to local opinion, that price is NOT "king". Price, at least on arbed futures, is secondary or tertiary to me, as opposed to my primaries volume, supply, demand and order flow. In fact, most of the time I fade the excess movements in price which diverge from underlying S&D, volume etc, that's how I make money.

Essentially, my style is shockingly similar to Mark's (I know, I literally dissected his execution log LOL), but then I suppose scalping is scalping. Yet, if you want real inspiration, read Mark's stuff or ask him - While I don't have a Bloomy and the like, I'd say he's a much better trader than me anyway. Probably the single best on ET.

Sorry Baruch for not replying to your PM by the way - I know it's still there - I'll answer it ASAP! Peace.

Scientist.
 
Quote from ElectricSavant:

Where do you come up with all this? Stop and Reverse is NOT the same as Support and resistance. But perhaps you have twisted these commonly used generic terms and you mean to say that YOUR use of them contradicts their meaning and you have your own.

I don't think you have the slightest idea what you are talking about.

Ok sorry...It's just that he makes up things as he goes....

Michael B.



Michael B.
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I specifically stated that I do not use SAR in my methodology.
earlier I also stated that there is a little trick I use sometimes with the indicator that is not commonly used or even well known.
I'll explain in further detail at a later date.

Michael B. I'm sorry if my presentation is less than what you expected. I did not prepare a syllabus on the subject of my trading methods. This is not a well prepared thesis from a doctoral candidate. I am not the best writer hence I never went to College.

However, I am no dummy when it comes to markets and extracting $$$ from the market. What I do have is a gift. It is the result of what I stated earlier above. I have extensive knowledge and experience with all kinds of markets and market conditions.
I never claimed to "know-it-all". But what I do claim is that "I know what I'm talking about as it relates to my methods of extracting large sums of $$$ from the market on a consistent basis.

I tried to lead by example with my last journal. I placed hundreds of "before the fact trades" but I doubt very many followed them.
Had they followed them instead of making excuses about it being to difficult to comprehend my methods they too could have achieved large profits on a consistent basis. You don't need to fully comprehend all the intricacies of the method to follow the trades and profit from them. I made it quite simple: "Buy here, place stoploss there". You can not get any simpler than that other than me placing the trades for them!

Furthermore, YES "I do make it up as I go along" as far as my presentation of the material. NO. the methodology does not change, only my presentation of the methodology changes so as to be easier to comprehend with multiple "hands-on" examples and charts and "realtime" trades. I am doing the best that I can so as to make it easy to follow along although you might not fully understand "why" I'm doing what I'm doing?


Let's get real Michael?

its not like anybody has any valid excuses here?
Did I not give out my personal email address along with my private phone # so that anybody could call me and ask questions?
Did I not speak to you several times in person?
Did I not answer the phone when you called?

I have done everything in my power to explain my method and give real examples so that it might be easier to understand, comprehend, and implement.

Maybe I'm not the best communicator but I have tried.
I am consistently working on ways to do it better and all of your constructive input is appreciated.

Thank you.

T-REX
 
Thanks. So you don't trade the news flow (eco numbers) like Mark? I have also read Mark's thread, and hope it will continue one day.
 
Quote from T-REX:

I never claimed to "know-it-all". But what I do claim is that "I know what I'm talking about as it relates to my methods of extracting large sums of $$$ from the market on a consistent basis.

I tried to lead by example with my last journal. I placed hundreds of "before the fact trades" but I doubt very many followed them.
Had they followed them instead of making excuses about it being to difficult to comprehend my methods they too could have achieved large profits on a consistent basis. You don't need to fully comprehend all the intricacies of the method to follow the trades and profit from them. I made it quite simple: "Buy here, place stoploss there". You can not get any simpler than that other than me placing the trades for them!

Maybe I'm not the best communicator but I have tried.
I am consistently working on ways to do it better and all of your constructive input is appreciated.
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Spot on, T-REX!

I've seen REX post many, many, many trades live, with high expectancy-over-risk ratio. The problem is, as soon as somebody actually gets his shyt together on ET and actually proves it with evidence, the crowd will symptomatically shift into a state of psychosomatic denial and become flamopaths, if in any attempt to prove that this guy is fake, regardless of all counter-proof.

This is so typical of ET that it's just sad. I've seen it happen to almost any good trader I know around here, including AMT4SWA, who kicked ass live at the EGO challenge, posts his up-to-150+ contract ES trades live in a chat room everyday and is still being insulted and diminshed for the pure will to help (for free!).

As for myself, I'd never post a journal here. Apart from the questionability of a 100+RT scalping log, I'm quite dead honest here, I wouldn't have the balls. If I make a mistake or a bad day, I get bashed, if I get it right, I get bashed double. And all the while, millions of PM's. Tell me, what's the point???

But here's a bit of clarification for WHY EXACTLY this behaviour is so common around here: People want it easy. They want T-REX, AMT4SWA, VelocityTrader etc to give them a fully explained, 100% complete manual titled "How to print your own money". They want it the easy way, they want to have their bed made. Most of the people who flame T-REX are people who spit dummy because they haven't understood one thing or the other.

Here's the reality: You will find that most, if not all day traders have difficulty fully quantifying their strategy. Why? Because, sorry follks, but trading isn't just maths. Trading is also art. As a matter of fact, it's a rare combination of both. No trader, particularly really good discretionary ones, can quantify every sublety of their trading approach. Now, in the few cases where one can, such as with fully automated systems, you can quantify it. But then, will that trader give you all the parameters / code??? No?!!! So why do you expect a discretionary trader to do so!

Get a grip everybody. Try to peruse T-REX's and other journals for the value in it, if there's a little thing you can learn from it - Great! If not - Go somewhere else. After all he's doing it for free!

Scientist.
 
Quote from Baruch:

Thanks. So you don't trade the news flow (eco numbers) like Mark? I have also read Mark's thread, and hope it will continue one day.
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I don't trade any news. You can't trade news unless you have Bloomy / Reuty. Your news will come about 15s later on mainstream newsfeeds. I haven't had broadband till about 2 weeks ago when I got this city apartment, but now that I got 1.5Mbps I might consider the Bloomy thing at some point.
 
I think it's really cool of you to post one of your methods in a public forum. I just started reading it. But, the charts you had in the beginning of it are not coming out. I'd really like to see them. Is it something I'm doing wrong or is everyone else having the same problem with them. Thanks and have a great New Year's.
 
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