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  • #110,601
  • Jun 15, 2009 2:22pm Jun 15, 2009 2:22pm
Quoting notch
Trading can be cruel like that sometimes and tomorrow is another day. Additionally, look on the bright side...I made an absolutely obscene number of pips...so I'm alright jack!

Notch, thats what I likes to hear

Your a Scalper and Profitable right so therefore Scalping DOES Work ???


p.s. not declaring myself as profitable yet, work in progress still sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,602
  • Jun 15, 2009 2:24pm Jun 15, 2009 2:24pm
Quoting vinesh2
Fool in the long run scalping does not work and the reason it does not work is for scalping you have to enter and exit market several times a day and you may winners but whats the point of entering a market several times a day and exposing yourself to potential whipsaws? But if thats your style then I wish all the best. In the long run though swing and trend trading is better as you dont get exposed to the market too many times and you keep your emotions on check. There is also less tendency to over trade and loose all you gained in one swoop. I...
Hi Vinesh,

We could hash out these arguments re: scalping vs. swing-trading ad nauseum but why bother? - they are all over these forums for anyone to read. Personally, in my own trading style, there are not rigid lines that separate these trading styles. Every trade begins as a scalp, and if well-placed, may be allowed to run for hours. The only message I am really trying to get across is this:

One does not have to be able to pick tops and bottoms in order to profit consistently. If one would limit one's profit targets then almost any - and potentially every - trade can be a profitable one. Is this really such a subversive message?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #110,603
  • Jun 15, 2009 2:25pm Jun 15, 2009 2:25pm
Quoting Atlast
Every day brings one of those. I am looking at the current move and thinking this could turn into a 100 pip move. I want to see it get above 1.3800 first and see how it goes. The lateness of the day may mean I won't take it.
The fool has given not so foolish advice.

I'm out, got a holiday to get ready for and other things to do, why I traded today despite not being a good day to trade really, thought I better get some live trading before my week in spain

+10 on EJ and +10 on EU, yes thats alot of risk, 30 SL for just 10pips but sometimes it'll better than a loss!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,604
  • Jun 15, 2009 2:26pm Jun 15, 2009 2:26pm
Quoting VinzZ
You're very wellcome, it took only 10 seconds of my day and I am blessed
Now I am off running a few miles as I did a short and shortly after market started to retrace, hopefully a small one
some times 10 seconds of our efforts makes some one's life so easy....
  • #110,605
  • Jun 15, 2009 2:28pm Jun 15, 2009 2:28pm
Turveyd. go to my previous posts I did mention my entry points. My current positions I entered the market on eu at 1.4105 on fri and have not touched my position i have taken profits at critical support levels. I also entered the market 1.403 and have not touched tha possitons. I based these trades on long term supp and resis levels. Now if i had entered the market based on scalping i would have to figure out the top and bottom and most likely i wuold have been trapped in the middle of a move and if i got lucky then i would probably end up with a 40 - 50 pips but look at what price I entered I lapped up over 200 pips in 2 days and that to without looking at my chart constantly and let fear and greed creep into me and me closing out the trades too early and then getting frustrated and entering the market in the middle of the move and ending up loosing all I made. I am pretty sure thats what majority of novice traders do
  • #110,606
  • Jun 15, 2009 2:29pm Jun 15, 2009 2:29pm
Quoting The Fool
Hi Vinesh,

We could hash out these arguments re: scalping vs. swing-trading ad nauseum but why bother? - they are all over these forums for anyone to read. Personally, in my own trading style, there are not rigid lines that separate these trading styles. Every trade begins as a scalp, and if well-placed, may be allowed to run for hours. The only message I am really trying to get across is this:

One does not have to be able to pick tops and bottoms in order to profit consistently. If one would limit one's profit targets then almost any - and...
Scalping ( IF you can handle it Mentally which is not easy ), gives you a lot more control over your account.

Not going to say I go for this 5pips and out stuff, I'm generally aiming for 20pips, but if the market gets it groove on and I'm on the right direction, my system does support loosening the reigns and letting it run
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,607
  • Jun 15, 2009 2:30pm Jun 15, 2009 2:30pm
Quoting Turveyd
I'm out, got a holiday to get ready for and other things to do, why I traded today despite not being a good day to trade really, thought I better get some live trading before my week in spain

+10 on EJ and +10 on EU, yes thats alot of risk, 30 SL for just 10pips but sometimes it'll better than a loss!!
Which part of Spain you going to if you don't mind me asking.
  • #110,608
  • Jun 15, 2009 2:30pm Jun 15, 2009 2:30pm
Quoting Turveyd
Notch, thats what I likes to hear

Your a Scalper and Profitable right so therefore Scalping DOES Work ???


p.s. not declaring myself as profitable yet, work in progress still sadly.

AtLast is the consistent scalper around here. Disciplined consistency + an edge = financial reward. It doesn't matter if you swing or scalp BUT if you are not emotionally right for scalping then forget it. It will take your tight sphincter muscle then rape it into a black hole. If you lack the self-awareness to recognise when you're out of synch you'll go broke quickly. Scalping is all about emotional self-control, an R of 2-3, a tight SL and decent support and resistence levels.
  • #110,609
  • Jun 15, 2009 2:32pm Jun 15, 2009 2:32pm
Quoting The Fool

and potentially every - trade can be a profitable one. Is this really such a subversive message?


  • #110,610
  • Jun 15, 2009 2:33pm Jun 15, 2009 2:33pm
Quoting vinesh2
Turveyd. go to my previous posts I did mention my entry points. My current positions I entered the market on eu at 1.4105 on fri and have not touched my position i have taken profits at critical support levels. I also entered the market 1.403 and have not touched tha possitons. I based these trades on long term supp and resis levels. Now if i had entered the market based on scalping i would have to figure out the top and bottom and most likely i wuold have been trapped in the middle of...

BUT do you do this all the time or frequently take 100 - 200 SL hits ??

At the 4105 level Friday, there was no way you could predict the news / selloff which happened today, at any time you coulda gotten 4105 the market was still in a uptrend.

Are you doing anything different to us ?? the answer is NO.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,611
  • Jun 15, 2009 2:34pm Jun 15, 2009 2:34pm
Quoting Atlast
Which part of Spain you going to if you don't mind me asking.

Costa Del Sol just east of Fengerola or how ever it's spelt, been to that area a few times which makes for a stress free beach holiday, rather than having to find your way around.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,612
  • Jun 15, 2009 2:35pm Jun 15, 2009 2:35pm
hi all
dont you expect eu to retrace???
i took long
  • #110,613
  • Jun 15, 2009 2:35pm Jun 15, 2009 2:35pm
Quoting notch
AtLast is the consistent scalper around here. Disciplined consistency + an edge = financial reward. It doesn't matter if you swing or scalp BUT if you are not emotionally right for scalping then forget it. It will take your tight sphincter muscle then rape it into a black hole. If you lack the self-awareness to recognise when you're out of synch you'll go broke quickly. Scalping is all about emotional self-control, an R of 2-3, a tight SL and decent support and resistence levels.
Oh man, you have a way with words.
  • #110,614
  • Jun 15, 2009 2:36pm Jun 15, 2009 2:36pm
Quoting Turveyd
Costa Del Sol just east of Fengerola or how ever it's spelt, been to that area a few times which makes for a stress free beach holiday, rather than having to find your way around.

Yep...I use to live there in my dirty shirt chasing days. Oh the memories!
  • #110,615
  • Jun 15, 2009 2:38pm Jun 15, 2009 2:38pm
[quote=notch;2804510]It will take your tight sphincter muscle then.....[quote]

Seriously, old chaap, some of us have just woken up. Be gentle...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #110,616
  • Jun 15, 2009 2:39pm Jun 15, 2009 2:39pm
Quoting notch
AtLast is the consistent scalper around here. Disciplined consistency + an edge = financial reward. It doesn't matter if you swing or scalp BUT if you are not emotionally right for scalping then forget it. It will take your tight sphincter muscle then rape it into a black hole. If you lack the self-awareness to recognise when you're out of synch you'll go broke quickly. Scalping is all about emotional self-control, an R of 2-3, a tight SL and decent support and resistence levels.

Yep,

Or a Mad Crazy averaging down system with loose SL's which just takes advantage of normal chop / noise, doesn't require perfect entrys, rarely gets a looser but the losers hurt.

Just a maths game, doesn't matter too much what your SL is it'll cost you the same over all.

If it's 15 it'll get hit 10x's as often as a 150SL for instance, end of the day they've both cost you the same.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,617
  • Jun 15, 2009 2:39pm Jun 15, 2009 2:39pm
Quoting Turveyd
Costa Del Sol just east of Fengerola or how ever it's spelt, been to that area a few times which makes for a stress free beach holiday, rather than having to find your way around.
Nice and hot. Don't forget the no 100 sun cream, the San Miguel great companion in the sun.
been lots to the Costa Blanca, love it there, except too overdeveloped in recent years in parts.
  • #110,618
  • Jun 15, 2009 2:40pm Jun 15, 2009 2:40pm
[quote=The Fool;2804536][quote=notch;2804510]It will take your tight sphincter muscle then.....
Quote

Seriously, old chaap, some of us have just woken up. Be gentle...


Well..scalping gone wrong hurts on so many levels. I'm merely trying to articulate that pain .
  • #110,619
  • Jun 15, 2009 2:40pm Jun 15, 2009 2:40pm
Quoting notch
Yep...I use to live there in my dirty shirt chasing days. Oh the memories!

You don't know where the local nudist beach area is do you ?? I found the 1 at Costa Bravo last time, but never there and not for a lack of trying ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,620
  • Jun 15, 2009 2:42pm Jun 15, 2009 2:42pm
Quoting Turveyd
You don't know where the local nudist beach area is do you ?? I found the 1 at Costa Bravo last time, but never there and not for a lack of trying ??
Nah...I rarely made it to the beach to be honest. On the town at 7pm and back to the hotel at 10am...
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