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Scalping tops and bottoms with incredible accuracy

  • #41
  • Dec 12, 2014 11:49am Dec 12, 2014 11:49am
Hi AlwaysWinnin
I believe that your claim would be more convincing if you can start your own thread on swing and/or position trading. At least both the doubters and the uninformed can see, compare and conclude on which trading style is more/most profitable.
May I also add that personality, time contraints and other factors also come into play in deciding on which trading style to adopt.
  • #42
  • Dec 12, 2014 6:40pm Dec 12, 2014 6:40pm
Quoting AlwaysWinnin
{quote} Position traders are more strategic which requires much more thought process,hence why position traders last longer and make more money because they are knowledgeable, have most discipline and are very patient. Thats the whole point of trading to be patient. Scalping on the other hand is just gambling and relying heavily on 1000 technical indicators on the screen. Scalpers believe that this is a get rich quick thing and want to throw a celebration party over a 5pip gain lol. Position trader will make one trade to gain 2000pips, but a scalper...
I read a lot of hashed out market folk law here and not a lot of fact, I know a scalper that doubles his account virtually every week and lives off trading and another that position trades for 2000 pip moves, he can turn that 2000 pip move into 10,000 pips as he keeps getting in again and again and holding.
  • #43
  • Apr 29, 2016 11:28am Apr 29, 2016 11:28am
All the various trading styles work well.Its up to the individual trader to determine which one(s) work best for him or which he wishes to employ based on his level of skill and temperament.I like trading on the 1 min time frame.I also trade other time frames because of exposures over the years.There is no one single best road that leads to profit making.Scalping as well as other styles are uniquely good in their own way.Do your home work and you will see its true.
Follow the Flow and Grow
  • #44
  • Aug 10, 2022 8:31pm Aug 10, 2022 8:31pm
Quoting Roofx
I would like to gather together a few fellow traders who trade in the style I'm currently trading in. Since the euro fell into shambles I have been unable to trade my previously profitable M5 price action strategy and had to develop a new method to scalp the uncertain currency on a lower time frame. I always hear from other traders that we have to go with the trend, to follow the big moves and forget about trying to pick tops and bottoms. The vast majority of traders say this. Well, the vast majority of traders are not profitable. Listening to them...
Resurrecting this thread. How oddly de Javu for the times. EURO performance and all. And also because yes I trade tops and bottoms on M1 timeframe
  • #45
  • Aug 10, 2022 9:02pm Aug 10, 2022 9:02pm
Quoting AlwaysWinnin
{quote} Position traders are more strategic which requires much more thought process,hence why position traders last longer and make more money because they are knowledgeable, have most discipline and are very patient. Thats the whole point of trading to be patient. Scalping on the other hand is just gambling and relying heavily on 1000 technical indicators on the screen. Scalpers believe that this is a get rich quick thing and want to throw a celebration party over a 5pip gain lol. Position trader will make one trade to gain 2000pips, but a scalper...
Allow me to step in here.
It is not true that scalping traders max out 5 pips a day.
Case in point August 9 morning to afternoon, the M1 strategy I had played out for 139 pips. Granted I took some stops on the way in, net was overall positive. Trading on M1 is not just restricting all observations to M1. We are also observing what other timeframes are doing including hrly, daily and weekly. Then we drill down to M1 to get the entry into a top or bottom and ride it all the way. Hope tha clarifies.
  • #46
  • Last Post: Aug 10, 2022 9:22pm Aug 10, 2022 9:22pm
Quoting Slim Buffett
{quote} hmmmm.... is this why roofx is no longer around ? Only joking. � "I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms." - Paul Tudor Jones. Somehow, I don't think he was monitoring 5M time frame though
He had the spirit of a scalper. For his biggest trade he was stopped out multiple times before being able to enter for the long ride to his great trade.
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