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Scalpers - how many ticks are you setting your TP and SL's at?
Just curious as to what other scalpers set their brackets to before entering a trade. I currently and experimenting with an 8 tick TP and 6-8 tick Stop Loss. So far in the demo environment, it has worked out well, with my win rate being over 50%. But I am wondering if my TP-SL range is too wide?
What does everyone else set their brackets to? One reason why I ask is that I see a lot of posts that mention they only grab 1-2 ticks per scalp. Is getting 8 ticks too many? The volatility in the micro emini SP 500 seems to be high enough to support this from my experience so far. Please share your thoughts and what you think an ideal range of ticks for Take Profit & Stop Loss levels should be between. Thank you.
I am currently only trading one contract at a time, on the micro emini S&P (MES) using 1 minute charts
8 sl to 16+ tp on 3M chart. Used to be 4:12 ticks before everything went wild. To me, 4 ticks isn't a realistic sl in the current market environment. ES, that is.
Been experimenting with 20 tick sl and tp near POC using market profile last few days, been decent so far (using 15M chart). Typically looking for at least 1:2 risk to reward using this method.
AllSeeker
Mumbai, India
Legendary Pratik_4Clover
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There are no set rules on "how many ticks" qualifies as scalp, its just generalizing very short term trades in one umbrella. I personally have no such a restrictions. Also, SL is also not "set amount of ticks", people use different methods for SL, most of them usually account for volatility so they keep changing.
