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  • #68,401
  • Feb 24, 2009 3:24am Feb 24, 2009 3:24am
Quoting lillelise
wonder what people consider as scalping...?

what time frames ?
Less than 1 Hour.
  • #68,402
  • Feb 24, 2009 3:26am Feb 24, 2009 3:26am
Quoting lillelise
wonder what people consider as scalping...?

what time frames ?
sma 1 or 5 min tf. shome time i take short and long at time then close on moving avarage. its work for me. small pips at time. try to adopt a system. mine is now sma before it was rsi+stoc as market. which you can scalp both ways.
  • #68,403
  • Feb 24, 2009 3:30am Feb 24, 2009 3:30am
guess im a scalper then..lol

was not sure if you meant sec. and min charts
StopLoss is for none belivers... Trust the Gurus..
  • #68,404
  • Feb 24, 2009 3:31am Feb 24, 2009 3:31am
Quoting daringdave
Less than 1 Hour.
You can even scalp on a daily chart. Scalping isn't time frame but time and profit oriented - scalping is taking small profits with frequent, very short-term trades.
  • #68,405
  • Feb 24, 2009 3:37am Feb 24, 2009 3:37am
yes i know...its kind of the same...scalping is trying to trade the humps...i like it cause..i prefer the small sl. i dont feel comfortable with sometimes having a minus of 30-60 pips ..even i know its the same on daily basic...
10 pip sl is what i can take..lol
StopLoss is for none belivers... Trust the Gurus..
  • #68,406
  • Feb 24, 2009 3:42am Feb 24, 2009 3:42am
Quoting lillelise
wonder what people consider as scalping...?

what time frames ?
I don't think it has as much to do with time frame, as is does to do with your goal, or reason for entering the trade. If the goal is to make 10 pips, with a stop loss of 30 pips, then even if you win 7 out of 10 trades, you will still be down.

As for TFs, my perferred method is to draw a TL on a 1 or 4 hour chart, then draw a TL on a 5 or 15 min chart. Trade a break of the TL on the smaller TF to the TL on the larger TF. This has produced anywhere from 50, 75, to 200 pip or more trades.
There are of course, variations. One coulf trade to an MA, a fib level, pivot etc.
  • #68,407
  • Feb 24, 2009 3:53am Feb 24, 2009 3:53am
scalp do stress me a lot, it's a matter of sitting in front of the pc like a zombie waiting for each candle to appear. Worse when is -ve, will start to HOPE. 10-20pip seems a lot for each trade but end of the day it will not be as much as you follow the trend line.

Most important, it does not stress me out for next market trading.
Trade what you see. Write what you feel
  • #68,408
  • Feb 24, 2009 3:56am Feb 24, 2009 3:56am
Quoting lillelise
wonder what people consider as scalping...?

what time frames ?

for me its just buying dips and selling rallies on lower timeframes, in direction of higher tf
  • #68,409
  • Feb 24, 2009 3:56am Feb 24, 2009 3:56am
Quoting Mysticdiver
I don't think it has as much to do with time frame, as is does to do with your goal, or reason for entering the trade. If the goal is to make 10 pips, with a stop loss of 30 pips, then even if you win 7 out of 10 trades, you will still be down.

As for TFs, my perferred method is to draw a TL on a 1 or 4 hour chart, then draw a TL on a 5 or 15 min chart. Trade a break of the TL on the smaller TF to the TL on the larger TF. This has produced anywhere from 50, 75, to 200 pip or more trades.
There are of course, variations. One coulf trade to an MA,...
For instance... entered a short usd/chf last nite of 5 min chart @ 11673.
(stop is currently+10) looking to TP @ 11500.

Entered e/u long @ 12740 off break of some consolodation on 5 min chart...
Stop now at BE, looking for 12900.
  • #68,410
  • Feb 24, 2009 3:58am Feb 24, 2009 3:58am
the market is reaLLY slow theses days ya? i wonder if stock will sink later
  • #68,411
  • Feb 24, 2009 3:58am Feb 24, 2009 3:58am
i guess it depends how you do it..in wich way....i dont stress..
i just wait for my rules to be meet...its not minutes..but maby 5-10 times a day so not much stress...aiming from 0-10 pips a trade
StopLoss is for none belivers... Trust the Gurus..
  • #68,412
  • Feb 24, 2009 4:07am Feb 24, 2009 4:07am
Quoting lillelise
i guess it depends how you do it..in wich way....i dont stress..
i just wait for my rules to be meet...its not minutes..but maby 5-10 times a day so not much stress...aiming from 0-10 pips a trade
Agree with you on that. It depends on how you do it. I have a mentor who always scalping and target 3-5 pips per trade but he open multiple position at a time and at $100-500 per pips. On the other hand, I trade 3-5 times per day and averaging 10 pips per day but of course much lower $ per pip.
  • #68,413
  • Feb 24, 2009 4:11am Feb 24, 2009 4:11am
Quoting jacko
Hi bgin2end

A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very quickly stop seeing the forest for the trees and start jumping in and out of long and short trades with no strategy...in other words, you start "gambling".

You then also tend to start trading smaller and smaller time frames. Then you simply get blown away by the market.

.
Jacko
Jacko - Great to see you so soon again. That is a true story, I didn't last more than 3 months as a scalper, my wife was about to kill me. Thankfully I did find you and your method and now her and I can see the "light" at the end of the tunnel.

What I meant when I said I scalp sometimes, is like spending money to go to the movies - it's a loss, but entertaining and I accept that for what it is. My main account is Trend Trend Trend.

See you around!
  • #68,414
  • Feb 24, 2009 4:12am Feb 24, 2009 4:12am
for me now no direction, no trade. does anybody see any direction
  • #68,415
  • Feb 24, 2009 4:12am Feb 24, 2009 4:12am
where can i read more on jacko?
  • #68,416
  • Feb 24, 2009 4:14am Feb 24, 2009 4:14am
Quoting trading801
where can i read more on jacko?

http://www.forexfactory.com/showthread.php?t=27286
  • #68,417
  • Feb 24, 2009 4:19am Feb 24, 2009 4:19am
Quoting m3trail
for me now no direction, no trade. does anybody see any direction
i'm going west for now..hehe
Trade what you see. Write what you feel
  • #68,418
  • Feb 24, 2009 4:21am Feb 24, 2009 4:21am
Quoting c2v4l
Agree with you on that. It depends on how you do it. I have a mentor who always scalping and target 3-5 pips per trade but he open multiple position at a time and at $100-500 per pips. On the other hand, I trade 3-5 times per day and averaging 10 pips per day but of course much lower $ per pip.
I must admit, I enjoy scalping from time to time.
About a year ago, a friend of mine was being interviewed on Bloomberg TV.
I went with him to the studio. While I was there, I met an older gentleman (older than me even ), who asked me what I did. I told him I was a forex trader. "Oh!" he said, "I used to do that years ago, traded 5s and 10s on cable, for 5 pips a day". I had to ask him what 5s and 10s were. 5 million and 10 million dollar lots, $500 to a $1000 a pip.
  • #68,419
  • Feb 24, 2009 4:23am Feb 24, 2009 4:23am
Quoting trading801
where can i read more on jacko?

http://www.forexfactory.com/showthread.php?t=27286
  • #68,420
  • Feb 24, 2009 4:42am Feb 24, 2009 4:42am
My view is that some scalping experience is necessary to maintain as high risk/reward ratio as possible, even while trading the longer timeframes. However, I do not think it is possible to stay ahead in the long term just sitting on the 1M and trading both ways. There is just too much volatility even if you get things right technically. Once you analyze the higher TF and decide which way you want to trade and at which price, you still need to nail the "when". In my opinion, 1/5M is good for picking the optimum time to get in and cutting the losses quick if things reverse on you. Once you are safe, just put the SL on entry and start looking for another spot to add to it in the same direction. Consult your long TF for signs of reversal and if they get too strong, close all the positions you accumulated on the way there. Does that seem like the way to go to you guys?
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