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This mkt is the most inconsisten thing I"ve ever seen.
- Thread starter sputdr
- Start date
Quote from EqtTrdr:
no surpise here..
still free money
still 100% up room to go as per Greenie and Bushy..
all aboard and thanks cramer for calling bottom$$$
I just dont trade like a lemming.. and the only way to make money is blindly follow the herd and chase momo stocks
Anyone with the illogical blather of bladerunner should find trading indices too complex.
Quote from CPTrader:
I think scalpingis anultimately negative edge proposition i.e. no win trading strategy.
I maybe wrong and as a position trader, I admit I'm biased.
I can't talk for myself because I've been trading for less than year but I'm seeing the senior scalpers in my office drifting over the last 9 months. Their average profit per share is down to 1.2c to 1.5c (in the best case) and the few who are making money they're only making money in a few stocks (just don't ask me the list)...
BTW, all those P&L posts don't mean anything until they show the profit per share.
Quote from sputdr:
Absolutely mind boggling.
One minute the spoos focus on the dow, the next the dax and the next the nasdaq, if you are scalping it's absurd.
This mkt has turned to shit for me and at year end I"m calling it quits.
Trade has turned into how can I fuck the maximum people possible.
Hey man..I feel your pain. I spent about a few yrs trying to scalp futures. Is a losing game. I went back to swing trading/position trading and the reuslts have been much much better. Too many people scalping/looking at the same thing. Plus you are competing vs computerized programs that are much faster than humans. Maybe try longer holding periods giving the positions more room.
Scalping YM is where I excell, I have not noticed much difference in doing it in the last year.
spu, maybe you should just try trading a different market and you will have better success.
Quote from EPrado:
Hey man..I feel your pain. I spent about a few yrs trying to scalp futures. Is a losing game. I went back to swing trading/position trading and the reuslts have been much much better. Too many people scalping/looking at the same thing. Plus you are competing vs computerized programs that are much faster than humans. Maybe try longer holding periods giving the positions more room.
Totally agree with you. There are rooms full of prop futures traders all trying to do the same thing and many of the firms are not doing that hot with this approach anymore. However most have nothing else to go too or they are waiting for things to "get good" again. Also the firms dominating this style of trading are for the most part doing it with automation or with automation assistance. I believe in order to compete unless you are at one of these technology advanced firms then you need to move out the time frame. Although there is an adjustment that has to be made as most of the techniques and mentality used for scalping is detrimental to longer term trading. As always I will say there are those few that for what ever reason can compete in this scalping time frame but it is no longer an entire room full of prop traders -- more like 2 or 3 at a firm who consistently do well with it. This is just on what I have observed.
Quote from cornholetrading:
Totally agree with you. There are rooms full of prop futures traders all trying to do the same thing and many of the firms are not doing that hot with this approach anymore. However most have nothing else to go too or they are waiting for things to "get good" again. Also the firms dominating this style of trading are for the most part doing it with automation or with automation assistance. I believe in order to compete unless you are at one of these technology advanced firms then you need to move out the time frame. Although there is an adjustment that has to be made as most of the techniques and mentality used for scalping is detrimental to longer term trading. As always I will say there are those few that for what ever reason can compete in this scalping time frame but it is no longer an entire room full of prop traders -- more like 2 or 3 at a firm who consistently do well with it. This is just on what I have observed.
Hey man...good to hear from you. Today was a perfect example of what doesnt work anymore. At my old firm they lived and died on this day. Good ol payrolls. I am sure guys got roasted trying to click on the number this morning. Without the huge volatility on this day, their game is screwed. I think you hit the nail on the head. Guys I know who once prospered a bit few yrs ago scalping and clicking on the number are now just bleeding money waiting for "the old times to come back". Instead of changing their game and adjusting to conditions, they are just waiting...and waiting. Thats the danger of being a one trick pony in trading, if your edge/method is gone, you are screwed. Instead of doing things 'the prop shop" way, I changed and now look at about 20 markets a day, and go where the action is. Like you said, the adjustment from going to scalping/short term to position trading isnt easy, but is a much more lucrative way to trade. Also things are a lot less stressful without having to be glued to the screen watching every tick.