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Re: Scalping
Its kinda hard to scalp the ES when the levels are 1000 lot thick at times and the range it too tight.
Even when you scalp, you need to have a trading plan, don't shot from the hip because even if you're breaking even each trade, commissions will chew you apart and at the end of the day, all you have to show for is spent mental energy.
In the e-minis, if your trade takes more than 30 minutes, from my experience and stats, tends to be a losing trade.
All Trades /Winners/ Losers
Total Number of Trades 17 /13/ 4
Time Averages
Avg. Time in Trades 16 Mins 12 Mins 29 Mins
avg. time for my winners, 12 minutes, 10-11 tick targets
avg. time for my losers, 29 minutes, 20 tick stop.
Every trader would like their trade entry to be winning the moment they enter, the shorter time you're in, you reduce your risk and that's the whole key to scalping in my opinion.
Just like that line from "Rounder" "Get your money in when you have and hand and protect your chips when you don't."
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Winfred
Life is a comedy for those who think and a tragedy for those who feel.Horace Walpole Doubt all before you believe anything!Sir Francis Bacon
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