ElectricSavant wrote:
If I want to take on a position, I scale in attempting to improve on my average trade price.
When exiting I generally get "all" out.
But... there is a very valuable technique in scaling (both in and out) and using an "always in" approach. trading "off" your average trade price that is very good, but you need a lot of capital.
The link thing, was that there are a lot of tools, but I seem to be held at a higher standard at ET lately, and every link I post that is not a sponsor gets deleted. I had to be ever-so-careful, how I told you about Market Delta...And of course, I know Velocity is a long term sponsor here.
Just trying to help, and I am not the ET policeman, I am just trying to survive and do the right thing.
Michael B.
Thanks Michael. I think the scaling stuff should be for another
time. Still thinking about small moves, since this is the original
idea of the thread. Haven't checked out velocityfutures yet.
I have tommorrow off.
I don't think scalping will work for me. Look at todays (July29)
move downward. Writing this about 1:30 PM Eastern. It would
be easier to have just have gone short and stayed with it
instead of trying to catch the little downs within the big down.
Of course if there is a HIGH probability way to scalp, that would
be something I would indeed be interested in. But,
being a amateur muscian, I realize that every muscian has his/her
limitations. The same is true for traders.
omniscient commented about having a position for the day
and also scalping too. But if one way is more profitable than
the other....
On top of this, my technical analysis skills are rather poor,
even though I have spent a lot of time in the past on them.
The more trades the greater the likelyhood of giving the
morning's profits back in the afternoon.
Anyway, got to go for today.
Stephen Szpak
