Did you even read my post? If you’re “scalping” 1min candles on es manually please share your three year sharpe ratio. Oh let me guess, you don’t believe in keeping a track record.
who are we playing against as retail traders?
- Thread starter mute9003
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Hello longandshort,Did you even read my post? If you’re “scalping” 1min candles on es manually please share your three year sharpe ratio. Oh let me guess, you don’t believe in keeping a track record.
Correct, I do not believe in keeping a track record.
I do not have a 3 year track record, not even a 1 year track record. Yes, I do not know my current Sharpe ratio. I do not have journal or track my trades. I just track my PnL and keep it going up.
My point is, you do not know with concrete evidence that there are no traders or algos that is scalping the ES with 1 minute candles successfully profitable, correct? If so, can you please provide this information to me please.
Thanks,
You: “do the dance to the wheat god and you’ll get big crops!”
Me: “study crop rotation and modern methods in agriculture and you’ll develop skill in wheat farming”
Seriously why would you advocate for a newbie at trading to start with trying to scalp 1min ES candles? Jfc…
Hello longandshort,
Good conversation buddy.
What timeframe would you recommend to newbie?
Thanks,
A newbie shouldn't worry about the timeframe or spend much time looking at a chart.
From another thread: Intraday trading | Page 5 | Elite Trader
IMO the problem is that most "traders" don't know what "hard work" means in regards to trading. They think it means to 1) look at charts, 2) backtest technical rules, 3) follow the advice of the "old hands", etc.
What it actually means is 1) studying market structure, 2) conducting literature reviews (reading financial journals where people publish the latest research), 3) advancing the literature through your own research (e.g. conducting an analysis and developing a theory of causality), 4) applying theory to a live strategy, 5) measuring risk parameters and working on improvements.
You can do this for any type of source of alpha you want. For example, if you believe in autocorrelation and time series momentum, and want to build an alpha strategy around that...follow those 5 steps and you will have "earned" a legit momentum strategy.
What it actually means is 1) studying market structure, 2) conducting literature reviews (reading financial journals where people publish the latest research), 3) advancing the literature through your own research (e.g. conducting an analysis and developing a theory of causality), 4) applying theory to a live strategy, 5) measuring risk parameters and working on improvements.
You can do this for any type of source of alpha you want. For example, if you believe in autocorrelation and time series momentum, and want to build an alpha strategy around that...follow those 5 steps and you will have "earned" a legit momentum strategy.
Sorry to interrupt..
I recommend draw what you believe are key price level intra week and intraday day. Scalp, using your price action knowledge, 1 minute chart.
Take 5 points with 5 contracts.
Focus on that. Examine your focus level. Discover what interrupt you. Avoid your weakness.
Something that feat your rethem and be logical to you.
Scalper has to scalp fast and heavy. Petition is also good quality.
It can be done.
Hello Leob,
Agree. Your response fits my personality extremely well.
Until the day I die, I will be scalping the 2 minute chart.
Thank you,
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