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Tell that to all the scalpers who are killing it. Tom Baldwin from Market Wizards is a scalper, he turned his $25k into 1 mil in his first year, and thats been his approach since. Paul Rotter used to do 10% of the bund volumes and he was a scalper. There is money to be made on all time frames, with incredibly diverse approaches. Thats one of the main points of market wizards.
Understanding yourself is just as important as understanding markets.
HFTs are probably killing it scalping, but few if any retail traders are these days.
Tom was a floor trader, so if he is even scalping these days, it is probably through high frequency methods that his fund employs. He is not like any scalper you'd find on futures.io (formerly BMT).
As you say, Paul Rotter doesn't even scalp anymore: "However, as Paul explains in this exclusive interview with MahiFX, he no longer does scalping reflecting the way the markets have evolved. His style is now more focused on longer-term trading strategies." https://mahifx.com/blog/an-interview-with-paul-rotter-adapting-to-survive
Retail scalpers, using standard retail software, don't stand a chance against hft scalpers.
He will be done once his money runs out. He told me he has health issues, and can't work and needs a "reliable income." I feel really sorry for the guy, because I know how the story will end...
I believe there is some value in this discussion. There are those that are starting out in the trading arena and will be using this discussion to develop their trading plan.
Over a period of 18 months, you mentioned that he lost 150K. Making some board generalizations of course, when should he have reevaluated his trading plan? After 2 months of losing more than making?
I should have said: entirely possible, but highly improbable. In other words, very rare. I'm including myself in that equation. That's why I take out profits and put them outside the market and don't just reinvest everything.