I took two stabs at breakouts this morning for two losses, and decided to call it a day. I really should have tried to make the losses back on my scalping chart, but … I just wasn’t feeling it today. I think that’s important for traders: be aware of yourself, and when you just don’t feel like trading, don’t force it.
Also the extremely small morning range (despite news and decent volume) disturbed me. I started to think it may be best to wait until after the 4th to trade again. Not sure what I’ll do tomorrow.
Hope your day was more profitable than mine!
July 6th, 2008 at 10:27 am
Richard,
Early this year when I hung out in the EOT room I found that most of their trades were in the 3 point range. Your ’scalp’ trades seem to be multiple points. I’m curious what your definition of scalping is. Is it just taking your regular trades on a smaller timeframe, regardless of profit levels?
July 6th, 2008 at 11:10 am
my scalping technique is for 2 to 6 ticks. It operates on the 233 share bar chart of ES against our 1-minute rolling vwap. I have other styles in play for points at a time, so I think you have them confused.
July 9th, 2008 at 11:22 am
Anybody home?
July 9th, 2008 at 1:04 pm
http://youtube.com/watch?v=BcQ7RkyBoBc
Richard, this is a gift to a techie type…hope you enjoy, your site is always excellent.
Thanks.
July 9th, 2008 at 3:32 pm
@Zoomie: yeah, just busy. Too bad the top post is about losing money!
@abc: I saw this the other day on Eyal’s site… it was hilarious!