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SCALPING MY WAY

Discussion in 'Trade Journals' started by Ciao (Sheppy), Jul 7, 2016.

  1. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    welcome to my new house :)

    why scalping my way?

    I am not saying it is the right way but isn't the wrong way either ... just another way of trading


    Strategy - Plan - Psychology - Money Management are my best "tools"
    Select the right stock
    Buy-enter the stock at the right time
    Limit your losses (the winners take care themselves)
    Known when to realizes profit (take profit while is there, set out the Target)
    Limit your losses (the winners take care themselves)
    I sell if I see weakness..... I would exit a trade and not wait for it to hit a stop-loss...JMO
    SL IMO is not meant to be hit! It is there to protect you from huge price moves

    implement a money management technique when trading,

    My Golden Rule 1 to 1.5 (2)
    (to make it easier; target 10/15 ticks... SL 10t.. so XYZ @ $1 I sell 1.10/1.15 (profit $100-150)
    SL sell .90 lost $100 but look above
    SL not meant to be hit..
    Time frame is 2-3 minutes max when is already moving I jump in get my centss and get out (I trade ticks not %) but as soon as I see a weakness I get out regardless..
    if ever-when that happen IMO it is because didn't do my DD properly :(
    (I hate losing.. so every trade I safeguard my capital...getting out too early? yes most likely but I call it got in too early.... remember I only trade ticks) the rule "let your profit run doesn't apply to scalp"

    don't forget that if you buy XYZ at $3... it move to 3.06... selling with 6 ticks with 3k or 5K shares it make a nice gain .. do that 4-5 times a day and.........$$$$$;);)

    IMO isn't difficult to get 5 to 10 ticks the difficult part it is to find the right stock, be psychologically ready, quick decision on executing them... and getting out isn't as easy as it look for many reasons (will tell you another time)


    look at OPTT MGT HMNY to name few those vertical climbs 10 ticks are a drop in the ocean ... so those are $$$$ reward not centsss yesterday did it with BGI
    I never open more than 2 stocks at time ...if I am heavily involved I open only 1 and never leave my eyes from it...


    I only trade above a $ to max $10 (with few exceptions)

    let face it how many stocks go up vertically? quite few isn't it... so the task is to trade them and get out on time... because many time they come down as quick or even quicker

    sell a certain reversal patterns... I would exit a trade and not wait for it to hit a stop-loss...just my opinion

    that is what came out from my "my cocktail's mixing" my DIY way ...
    too easy to scalp? well just try it ;):)

    Finally...
    DO NOT: Trade When You’re Emotional
    Your measures of success are whether you followed your trading plan and you were able to limit your losses. If you get these things right, the money will flow.

    the ability to stay completely flat and allow yourself to execute your trading plan with no emotion, will allow you to always think clearly and objectively

    At the end of the day, you determine what it means to be a successful day trader, no one else. The minute you realize that is the answer, the expectations you set for yourself when trading will become more relaxed as these are tailored to you and your trading style.

    for the newbie; I advice that before trying that.... do some virtual trading and get experiences
     
  2. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    introduction-presentation


    to avoid answering the same questions I thought I'd introduce some quote - hint - advice
    some are mine some long time ago I copied but sometime I still like to go over just to remind them
    each one can do their own DD and decide with their own head

    learn to know how to control your emotions, instead of being controlled by them

    You do not need aperfectexit strategy to be successful. You just need to be able to protect your money when you are wrong - and take profits when you are right

    There is no “bad market,” there’s just a “bad trading approach to the market.”
    .Learn how to be positive, learn how to have discipline, learn how to be successful etc.etc

    I take consistent small profits instead of waiting for that one ‘big’ trade
    Limit losses (trade with discipline)... learn to lose less than the profit will increase


    Sell into strength by offering at the ask.
    I Do not trade stocks that I am completely unfamiliar with.

    The desire to succeed is essential but it is not enough in itself. Only when you have the faith in yourself you will become successful. Even If you have strong desires, if you don’t firmly belief that they will happen, they won’t.

    If you have doubts in times of adversity you will abandon your goals too early and your fear of failure will become a reality without faith.
    Losing is easier then gain it... improve your plan get the strategy that is adapted to you

    Instead of following guru advice I did the opposite.
    Using money management to grow your account;
    Clear exit rules. You’ll know how to exit a trade before you even get into one.


    You’ll discover how to put a trade on autopilot so you don't have to be worried about over managing it! You’ll know what to do, and when to get out.
    With this strategy you can capture small, intraday trends that allow you to trade with stability, amidst a sea of volatility.

    The simple strategy can be traded with virtually any charting software.
    How to distinguish between retracements and reversals. Most investors get fooled, but you’ll know exactly how to spot the difference.

    NO Money management can be the number one reason traders fail.

    The importance of rules, discipline and strategy in trading cannot possibly be over- emphasized. Without these factors NO TRADER regardless of knowledge or experience will survive. Ignore them and ultimately you are doomed.

    Because every minute is yours! You are in command. You are in control. Anything you want is available.
    got your day's profit...stop..... you only give part back if not all....
    an off day ? then stop or don't trade you only lose.... we all have days-weeks-months that nothing seems to go right... I don't trade... why losing?....



    Take advantage of small intraday trends
    Trends are short-lived. The times when you could enter the market in the morning and exit the market in the afternoon are over. These days the markets can turn around on a dime. Low trading commissions and computerized trading have destroyed the nice and long intraday trends.

    There is no perfect strategy
    I've tried just about every exit strategy out there. None are perfect. Sometimes you sell too soon. Sometimes you sell too late. That's the bad news.
    The good news? You do not need aperfectexit strategy to be successful. You just need to be able to protect your money when you are wrong - and take profits when you are right.

    There is no “bad market,” there’s just a “bad trading approach to the market.”;):)

    that's all folks ... now to trade

    [​IMG]


    Edited// to add the follow>> the other day I read this passage >>>> If I try to teach you what I do, you will fail because you are not me. If you hang around me, you will observe what I do, and you may pick up some good habits. But there are a lot of things you will want to do differently. A good friend of mine, who sat next to me for several years, is now managing lots of money at another hedge fund and doing very well. But he is not the same as me. What he learned was not to become me. He became something else. He became him.’”
     
    #2 Ciao (Sheppy), Jul 7, 2016
    Last edited: Jul 9, 2017
  3. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    :oops::oops: forgot to add
    upload_2016-7-7_10-47-40.png Before my scalping days
    I am not a professional, far from it, just someone that know how to make few centss to improve my life ..

    upload_2016-7-7_10-47-19.png few years after upload_2016-7-7_10-48-16.png

    trading paying off? scalp did for me ;):p:D

     
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  4. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    now to the real business
    cac40 +2% DAX +1.40% FTSE 100 +1.76%
    [​IMG][​IMG][​IMG]

    the banks moving the most into green ..... few days of banks negative rumors .... today all green... I let you doing the thinking:) ;)
     
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  5. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    yesterday I couldn't scalp LEDS (had other on) so after seen the close I had it on my top list for today
    :eek::eek: A/H took +74.24% news out

    quote from Fireopal;
     
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  6. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    LEDS well away in pre.... never say never
    VRX going well ... Fireopal yesterday you where right once again :) well done $90 not too far away :D;)
    i will stay with my usual one CLF WPX PACB + BGI did well yesterday worth to keep an eye on

    btw yesterday open SID 2.69 (an exception swing but what tiptoptrade it make $$$$ ;):)
     
  7. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    BZH could get some $$ out
     
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  8. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    needless to say I open CLF :D
     
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  9. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    what happened? I couldn't get in?
    Contact your hosting provider letting them know your web server is not completing requests. An Error 522 means that the request was able to connect to your web server, etc.... :confused::eek:
    did you try to lock me out?:D:(:D
     
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  10. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    LEDS :p:cool::) 5.74 - 7.17 (see post above I couldn't post it (good excuse :D I said for you :D:D)
     
  11. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    closed 6.21 (ask)
     
  12. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    BTW closed SID as well 2.83 can't resist green I replaced with BZH I might hold till tomorrow SL (mentaly so I keep some green or at least I don't lose .... that is why I am hardly red ... "lose less"
    mhmm tempted again on LEDS
     
  13. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Nice thread my friend!
     
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  14. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    out BZH 8.05 better few green cents then red $$$ ;)
    LEDS ok I say it... added few more centss :p
    hod 8.50 was several good entry well under ... not hard to get some cents$$$ out)
    this must be my lucky week....

    now taking a break before I give some $$$ back (never over trade can't have all winners )
     
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  15. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    thanks TTT coming from you I appreciated "mille volte di più" :):)
     
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  16. fireopal

    fireopal Active Member

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    So you lived in a cave - that explains every thing!!!:p

    Like your new home - good job :)
     
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  17. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    thanks Fireopal I had a "cute" adviser;) ...Nice to see you here..... now I feel better :D
    in a cave:eek: was a nice green house maybe too much ivy around but green ;):D:D
     
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  18. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    BTW did you see your tip VRX hod 24.25 nice one well done :cool::p
     
  19. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    BTW PACB couldn't hold 7.40... then tried to get back in but didn't hold gone under VWAP
    it should hold 7.17/15.... when they move up too quickly (yesterday) shorter taking over....
     
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  20. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Ciao, are you scalping WPX or are you holding for a while?
     
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