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Skalping is a death proof Strategy if the market is running in a direktion.
When you try to skalp a Market what runs to the side, it will be a problem.
So you have to recognize if the Market is runnig. If not thers the swing traders paradise and your hell.
Actually I use 500 Volume.....you want volume involved to confirm momentum and direction....here is a picture of one of my charts blown up to see it better....notice the Cumulative Delta on the bottom chart.....breaks out of the bollinger .....when the price (upper chart) is inside of its bollinger...its a transition move from buy to sell or vise versa or just chop.....(That bollinger represents a no Trade Zone)....I use these charts to leg into a position....start with one contract...if it doesnt make 6-10 times the commission... but possibly reverses... but the Kagi is still green/red ....I can enter another contract (kind of like dollar cost averaging)....may have 4 - ???? no. of contracts before it turns in my direction.....again looking for 6-10 times costs...what you also see is an ema 14 (red line) and an EMA 9(blue line) as well as an OBV Chocolate LIne and a Chaikin money flow line(shows the underlying buyer/selling pressure and are leading indicators). I usually wait for the Red or Blue to break out of the bollinger before I get in...if the kagi crosses back over the ema line....get out...this works on ES, GC, CL, RTY, YM...I stay with with MNQ...my choice instrument....chart is from last friday......just noticed this example... was kagi bars created with a Line Break 5 volume 500.....try it either way...with volume or line break... .
I tested this out, but do not see where there can be an edge with timing entries here.
How do you manage your entries, stops, and targets? Consistently?
The EMAs are often hovering close to the Bollinger bands, break out just a bit and fly back inwards.
if you are trading during regular hours you can use the volume 500.....if not switch to 30 seconds.....you can also use the 9 ema (blue line) if you are looking for a longer entry......this is a scalp....not a swing trade only last for seconds.....I leg into a position looking for 6 to 10 times commission per contract....so 6-10 dollars a contract assuming the commission at 1 dollar.....(about .82-.94 per round turn for a micro)....those are my targets...if the ema is not outside the bollinger then you cant use this technique....(inside the bollinger is no trade...you have no direction)..because you are working with with multiple contracts....and I close them all at my target....I also look at a 233 tick chart(kagi bars) to see the internals....and a 377 tick chart to look at bigger time frame...this shows some trades from today...in and out three times in one min...each time multiple contracts showing the 233 and the 500 volume in the same time frame for 1 min.(11 contracts $133)....also notice that the cumulative delta may give you a quicker signal...but that doesnt always move the price.....you can also notice on the 233 tick chart when the ema low moves away from the ema 27 red line...looks like a win(entry) there also....
Hi, At the end of the day you eventually find out the price is the only factor that matters. Pay attention to and mark up significant support & resistance zones as the day unwinds. Look for patterns in these zones. You'll see they repeat day after day and you will be able to profit. All indicators do is show you what the price has already done.
My experience in recent months is yes. However it is intense and mentally draining work. I trade (4) ES contracts, looking to capture 4-8 points of move in the ES. Then try to contain losses to 2 points.
Maybe it is a 50/50 bet (I think it can be better) but if one makes larger gains than losses on each trade then 50/50 works. If find the challenge is not letting a loss run. So often the loss comes back to a gain so it is tempting to let it run a bit but when a loss really runs then it blows out all the wins for the day.
I believe there is plenty of market feel, discretion, in trading small move in very short timeframes. However this just my experience and opinion.
