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I trade the ES but I'm not a scalper. I was wondering what kind of entry techniques scalpers use (tape reading, candlestick patterns,...)? Is profitable scalping possible with a risk/reward <1 ? Who has expierience with scalping (target 2-6 ticks) and wish to share his/her experience!  |
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Hey..i'm an oil & gas scalper. I'm not sure if you said LESS THAN 1 or GREATER THAN 1 above...I'm not good at math. If you meant LESS THAN 1, yes it's possible, I do it all the time and make money at the end of the month.
I think it's hard to find people to tell you HOW to do it, because it's something you have to just do to learn. Nobody taught me how to scalp, I don't know if it's even possible to learn from someone. I'm sort of protective of my operations...even though I know it's silly and lame to be like this (maybe I have low self esteem?) I probably know nothing of value to you...but you may want to check my previous posts since I may have said stuff about it, and you could try messaging the guy Cooter - I think he's a grain scalper and his posts are somewhat interesting.
Scalping is very demanding and cut throat, and if you are wrong, your losses grow out of control very quick. I think I recall experiencing 10 losing trades in a row...step carefully or the commissions & losses will chew away at your account very fast....like termites.
That being said I think you should consider it. Start off as small as you possibly can.
>Who has expierience with scalping (target 2-6 ticks)
I may be wrong, but scalping I don't think is about how many ticks, it's about the hold time. Someone maybe trading off a 2-min chart going for 6 ticks over a span of minutes, but I don't consider this scalping.
I feel the gambling element is somewhat higher in scalping. I risk alot more to make small quick gains. It's very close to gambling in my opinion. I think scalping originated from local floor speculators (commodity exchange floor gamblers)...but it's possible as a public speculator to do it in almost any market...thanks to direct access trading.
Send me a message in the future if I can possibly help you.