Scalping is worth doing as a way of learning about how the market moves and how you react to it. When done manually, you fine tune how you deal with the exit. If done properly, you protect your trade by minimising a loss. Also, embrace the scratch trade. The wins look after themselves.
As already mentioned, automation best handles this process without the emotion.
IMO, swing trades are best for manual trading in combination with semi-automation.
scalping - no longer worth doing?
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Realrocknrolla
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Absolute GOLD comment!wearthefoxhat wrote: ↑Sun Oct 31, 2021 11:38 amAlso, embrace the scratch trade. The wins look after themselves.
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stueytrader
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Yes, agreed.Realrocknrolla wrote: ↑Sun Oct 31, 2021 12:24 pmAbsolute GOLD comment!wearthefoxhat wrote: ↑Sun Oct 31, 2021 11:38 amAlso, embrace the scratch trade. The wins look after themselves.
But this does emphasise the close proximity by which a 'scalp' and a 'stratch' exist in trading - a winning scalp is really as close as you can get to breaking even, while still making a profit.
Adding the losing scalps (which are essentials if using that approach) makes taking lots of 'nearly scratches' i.e. scalps, into a fairly breakeven area of operating for most I would guess.
Yes, good for practice, but I couldn't understand many approaches that only used scalping.
I guess some of this depends on how you define scalping. This sort of question popped up years ago on this forum by somebody that was trying to prove trading was 'impossible' and that profitable traders were just 'lucky'.
So I scalped only and posted the results. At which point he declared that I wasn't actually scalping of course in the sense in which he understood what is was.
So I scalped only and posted the results. At which point he declared that I wasn't actually scalping of course in the sense in which he understood what is was.
Euler raises an interesting point there in regards to how scalping is defined.
When you go on yt and watch people scalping it’s usually in a very trigger happy manner, entering multiple bets on both sides, cancelling some, scratching some etc etc. That imo is chaos, it’s what I would define as “Active scalping”. You’re manually very active.
Then there is what I would define as “Passive scalping”. This is where bets are left in the market outside of the current touch price but within range and left for the market to pick them up.
That’s my limited understanding of scalping, I’ve never really put too much thought into it but I’d be interested to read how others define scalping.
When you go on yt and watch people scalping it’s usually in a very trigger happy manner, entering multiple bets on both sides, cancelling some, scratching some etc etc. That imo is chaos, it’s what I would define as “Active scalping”. You’re manually very active.
Then there is what I would define as “Passive scalping”. This is where bets are left in the market outside of the current touch price but within range and left for the market to pick them up.
That’s my limited understanding of scalping, I’ve never really put too much thought into it but I’d be interested to read how others define scalping.
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stueytrader
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Yes, the definition of a scalp is key to discussing any benefits/costs etc of the approach.
Strictly speaking though, I'd have thought the definition was the smallest possible movement to take a profit in a ladder. I'm pretty sure that's where the term was devised for, in terms of taking the 'scalp' (skinning) a market.
Though, I agree the more general term of 'scalping' does get into more vague definitions of small movements across ladders.
Strictly speaking though, I'd have thought the definition was the smallest possible movement to take a profit in a ladder. I'm pretty sure that's where the term was devised for, in terms of taking the 'scalp' (skinning) a market.
Though, I agree the more general term of 'scalping' does get into more vague definitions of small movements across ladders.
And still,the most.important thing is to know when to enter...3 prices today goes against me..cmon...i backed at top of the range...and then..boom..drifted like hell..of course..IT was a price who steamed before..
..You need to be very lucky or to be Peter Webb to win some money..
..You need to be very lucky or to be Peter Webb to win some money..-
Realrocknrolla
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Scalping long term requires stamina. It isn’t the easiest strategy. (On a personal level)
Personally for me scalping is only used when I see the opportunity too. Save the stamina for the wife!
There are many other strategies to make money out of a single market. If that opportunity doesn’t appear, I know the next market will present one!
Most of my time when trading I am looking for opportunities/reasons to enter the market. The actual time I have money in the market isn’t comparable.
Personally for me scalping is only used when I see the opportunity too. Save the stamina for the wife!
There are many other strategies to make money out of a single market. If that opportunity doesn’t appear, I know the next market will present one!
Most of my time when trading I am looking for opportunities/reasons to enter the market. The actual time I have money in the market isn’t comparable.
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Realrocknrolla
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I’d give up straight away trading off a mobile phone!
Disaster
Disaster
You're probably not going to have a fun time scalping at these types of ranges below crossovers like 3.0 or 2.0.
Where people usually go wrong is trying to use scalping as a generic strategy on every market, or on trending markets etc. In effect, they end up using the wrong strategy on the wrong market, so it can't exactly be a big surprise when they get wrong results as well.
Where people usually go wrong is trying to use scalping as a generic strategy on every market, or on trending markets etc. In effect, they end up using the wrong strategy on the wrong market, so it can't exactly be a big surprise when they get wrong results as well.