Quote from inandlong:
I would hazard a guess that the vast majority of Prop firm trading methods are based on momentum scalping. While the daily ranges have been decent, the momentum for this kind of trading has not. They like to call it follow-thru and participation too. It is absent en masse.
One member observed the day that the afternoon has been very lazy. I have noted the same. This absolutely must be driving the scalpers crazy. They are getting at best 2 1/2 hours of momentum and participation in the morning and that is it.
It would be great if there are prop traders out there willing to post what is up in regards to the above. I am not asking you to reveal that you are still making a killing or getting killed. A comment on the above idea will suffice. Thanks.
This is why you stop by 11:00AM: ADP O:37 L: 35.25 -- nice piece there; DD O: 43.60 L 42.60; +.50 by 10:30. Bwt the two depending on size, you had a great day; this market sucks after 11:00AM....there is no conviction..and anyone trading after that will churn themselves out of biz; there are VERY limited opp. in the PM sessions either on a trend up/down day, unless you want to frenitically scalp nickels, and I bid you GOOD LUCK!
FWIW
David