[Soultrader]

Hello awhoa99,

I have a trading buddy of mine who is mainly a scalper. From my observation, here is what I can tell you. He trades off the tape 90% of the time using a 3-5 tick stop. So in stocks he would be using a couple cents up to a 5cents. His exits are all scaled out. Because his technique is only trying to capture short term moves, he scales out half at +5, a quarter at +10, and the rest whenever the markets tell him.

I do not think the average trader can profit from his methodology. He is super quick on his entries and is right almost 70% of the time. I do think it takes years of tape reading to master this kind of skill.