Anyone that says you can't scalp either doesn't know what they are talking about or are just upset because they tried it and can't do it. That's all I do now because not only is it easy for me, it's so fun. I can't trade off of the 4 hour charts because it is so boring - to me. So it all comes down to personality. It might fit your personality to only be in a trade for a few minutes, or maybe a few hours, or maybe a few days, or maybe a few weeks, or maybe a few months. Nothing is right or wrong, it all comes down finding what fits you. That's it. Don't ever let anyone tell you what you can or can't do - if you do then you have already lost. Go for what fits you and then build your world around that. Everyone that I know that is super successful ignored everyone that told them they couldn't do it - then went out and did it anyway.
Best place..book...resource... to learn the art of the SCALP!
- #42
- May 29, 2010 5:15am May 29, 2010 5:15am
- Joined May 2006 | Status: Still here. | 2,602 Posts
A daily bar is made from 24 hourly bars... an hourly bar is made up of 60 minute bars... a minute bar is made up of 60 second bars... etc so the way I see it is that tick data is actually the "real" market movement. Besides ticks make up the market... so how can lower time frames be mere noise? a tick makes up seconds... seconds make up minutes... etc etc therefore by the "noise" peoples logic the entire market would be noise because its base is so called "noise".
Thank you! Now I know I am not alone!
- #43
- May 29, 2010 6:16pm May 29, 2010 6:16pm
guys, let the man try it out for himself. you may have well intentions. scalping may not work for you but doesn't mean it may not work for others.
to deusomega,
give it a try and you'll know if it's the right trading style for you
i went through the thread and no one mentioned this. to me, what makes scalping work.
first, patience to wait for the right moment to enter.
second, discipline to take losses quick, decisively and fast. otherwise, small profits gained via many trades ago will be wiped out with 1 big loss.
third, low spreads. this is vital to scalping, as high spreads may eat into profits and not make scalping worthwhile.
fourth, which is the most important of all is the BROKER!!! it doesn't matter if you're a scalper, intraday trader or swing trader. if you trade with a broker who have platform connection issues, latency of orders/bad execution or one who's out to screw you. then, even if you possess the grail in trading. it's futile, as the broker you trade with is standing in your way.
trade well, my friend.
to deusomega,
give it a try and you'll know if it's the right trading style for you
i went through the thread and no one mentioned this. to me, what makes scalping work. first, patience to wait for the right moment to enter.
second, discipline to take losses quick, decisively and fast. otherwise, small profits gained via many trades ago will be wiped out with 1 big loss.
third, low spreads. this is vital to scalping, as high spreads may eat into profits and not make scalping worthwhile.
fourth, which is the most important of all is the BROKER!!! it doesn't matter if you're a scalper, intraday trader or swing trader. if you trade with a broker who have platform connection issues, latency of orders/bad execution or one who's out to screw you. then, even if you possess the grail in trading. it's futile, as the broker you trade with is standing in your way.
trade well, my friend.
