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Plan the Trade

  • #12,621
  • Edited 7:51am Jan 22, 2020 7:38am | Edited 7:51am
+12 1 trade, couldn't move the blasted TP down quick enough. Plenty of opportunities yesterday. Just watching though, building the discipline through inaction

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'in less than half an hour he made over 100 ticks'
  • #12,622
  • Jan 23, 2020 7:49am Jan 23, 2020 7:49am
+15 +8 | 2 trade.
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  • #12,623
  • Jan 23, 2020 8:40am Jan 23, 2020 8:40am
+13 2 trades, until I noticed I was in sim. Doh! Nice quick short trade soon after the open that I missed. Now too much structure so I'm closing down.

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'in less than half an hour he made over 100 ticks'
  • #12,624
  • Jan 23, 2020 6:09pm Jan 23, 2020 6:09pm
lets trade real. use micro account. together we rebuild this topic for real scalper.
  • #12,625
  • Jan 24, 2020 8:21am Jan 24, 2020 8:21am
Quoting trumdauxu
lets trade real. use micro account. together we rebuild this topic for real scalper.
Yep, been doing that with the exception of yesterday where I forgot to take sierra out of sim. It was a long time coming for me trading for real, but I really didn't want to lose money. And I'd tested the b'jesus out of the NQ

So today +15 with 3 live trades. A little choppy for my style so I'm done today.

Although I'm scalping, it isn't where I really want to be. My focus is fewer entries, and to stay in them longer. I have made headway with the former, but the latter is market dependent (as well as me being in the right place at the right time). I am most pleased with losses, they are minimal. There was a really good day this week, from memory, I think it was Wednesday (surprisingly). Now that should have been a + 30, but my head was in the wrong place.

Anyway, thats my take. Have a good weekend guys...

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'in less than half an hour he made over 100 ticks'
  • #12,626
  • Jan 24, 2020 4:18pm Jan 24, 2020 4:18pm
80% of NQ volume comes from HFT scalp mode, so how could we play against and survive on the long run? Scalping too.
As a beginner our main goal is to survive, so our best option is play small. Scalp 12-15 ticks, take your money and run!
  • #12,627
  • Jan 27, 2020 2:24pm Jan 27, 2020 2:24pm
+12, 1 trade.

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'in less than half an hour he made over 100 ticks'
  • #12,628
  • Jan 28, 2020 7:48am Jan 28, 2020 7:48am
-32 Today, just can't afford the stops. And I shoulda capped it off around 20. But that's the way it goes. The temptation to revenge trade is strong, but the market clearly isn't playing my tune today so better to live for another day.

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'in less than half an hour he made over 100 ticks'
  • #12,629
  • Jan 28, 2020 8:11am Jan 28, 2020 8:11am
+16 / 1 trade.
Divergence from Tick & Add so take a fade.
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  • #12,630
  • Jan 29, 2020 7:15am Jan 29, 2020 7:15am
Quoting trumdauxu
80% of NQ volume comes from HFT scalp mode, so how could we play against and survive on the long run? Scalping too. As a beginner our main goal is to survive, so our best option is play small. Scalp 12-15 ticks, take your money and run!
I'm not at all convinced that these microtimeframe trades are best for most retail traders. Divergence is a rare trader. Most would be better to learn to focus on the price action on the 5 minute chart.
  • #12,631
  • Jan 29, 2020 8:17am Jan 29, 2020 8:17am
The reason why I scalp is because it suits my personality more. I’m usually a very anxious person and holding positions for an extended period of time causes me to feel stressed out and since trading is already a stressful profession, it is ideal to limit stress as much as possible.
Also, knowing that trading is about finding an inherent edge and the highest percentage setups which includes limiting any random variables beyond your control affecting your position as much as possible (such as random news, analyst upgrades/downgrades, dilution, market order fat fingers, hedge fund bid props, halts, etc….), I feel it’s in our best interest to limit our exposure to all this by minimizing the duration of your time holding a position.
  • #12,632
  • Jan 29, 2020 8:55am Jan 29, 2020 8:55am
Quoting trumdauxu
The reason why I scalp is because it suits my personality more. I’m usually a very anxious person and holding positions for an extended period of time causes me to feel stressed out and since trading is already a stressful profession, it is ideal to limit stress as much as possible. Also, knowing that trading is about finding an inherent edge and the highest percentage setups which includes limiting any random variables beyond your control affecting your position as much as possible (such as random news, analyst upgrades/downgrades, dilution, market...
Precisely, and we all trade our personalities and have our own stop limits. All you need is an edge and some discipline. From my own observations, I really believe you shouldn't trade every day.

I see that rare breed Hilmy 83 is back on elite trader. The only honest, no bullshit demonstrator of trades I have seen for a long time.
'in less than half an hour he made over 100 ticks'
  • #12,633
  • Edited 9:57am Jan 29, 2020 9:20am | Edited 9:57am
+12 + 15 / 2 trade today
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  • #12,634
  • Edited 8:18am Jan 30, 2020 7:13am | Edited 8:18am
+24 -40 +24 +1 +19 | 5 trade today.
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  • #12,635
  • Edited 10:34am Jan 31, 2020 9:56am | Edited 10:34am
Quoting trumdauxu
+24 -40 +24 +1 +19 | 5 trade today. {image}
Well done. Had another crap day today - 23. When the ATR is this high, again same stop issue. Because of my loss the other day, I went back to + 1 after 5, as you can see it took me out on plus one on the first trade. And that first trade is precisely the type of trade I'm looking for.

So next week, I'm only trading with sensible ATR's. I have the entries, no problem but when you keep getting whacked it is time to take a back seat.

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I mean, these are serious moves. These would have been my entries if I could have got a stop above the trigger bar, 2 days like these a month and I'd be done. You can see what a + 12 & a 12 stop loss looks like. Bloody frustrating.

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Have a good one guys.
'in less than half an hour he made over 100 ticks'
  • #12,636
  • Jan 31, 2020 7:42pm Jan 31, 2020 7:42pm
Quoting onejester
{quote} Well done. Had another crap day today - 23. When the ATR is this high, again same stop issue. Because of my loss the other day, I went back to + 1 after 5, as you can see it took me out on plus one on the first trade. And that first trade is precisely the type of trade I'm looking for. So next week, I'm only trading with sensible ATR's. I have the entries, no problem but when you keep getting whacked it is time to take a back seat. {image} I mean, these are serious moves. These would have been my entries if I could have got a stop above...
I always set TP & SL based on ATR, not fixed. Based on my statistics, my win rate is over 80% so I set my win and loss rate to 1: 2.
When you know your setup has an 80% chance of winning, you have to give it room to breathe.
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  • #12,637
  • Edited 1:55am Feb 13, 2020 1:38am | Edited 1:55am
Scalping MES
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  • #12,638
  • Feb 14, 2020 7:34am Feb 14, 2020 7:34am
Quoting ddaytrader
{quote} I'm not at all convinced that these microtimeframe trades are best for most retail traders. Divergence is a rare trader. Most would be better to learn to focus on the price action on the 5 minute chart.
still bagging em with 123s on 20 second chart with no wicks
  • #12,639
  • Feb 14, 2020 8:07am Feb 14, 2020 8:07am
Only traded a couple of days this week, missus broke her foot and is wheelchair bound. So I am carer and driver, trying to run her business and my own. Much stress! Taking it slow, only + 34 for the week, 3 (123) trades on a 20 second chart.
'in less than half an hour he made over 100 ticks'
  • #12,640
  • Feb 14, 2020 9:06am Feb 14, 2020 9:06am
Quoting Divergence
{quote} still bagging em with 123s on 20 second chart with no wicks
ditto on the 30sec charts. still missing trades 3-1 on entries, but positive 45T.
good luck
regards
goma
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