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Anyone can explain how Scalping works??

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Super Contributor
I know chartist explained once how he scalps, but I didn't quite catch on. Any daytraders here that can explain how to scalp?
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Valued Contributor
lots of trades with very small moves .. so profits are small, but frequent ..
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Super Contributor
Thx simon.. I should rephrase my question.. to "what are the basic techniques on how to scalp..
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Valued Contributor
almost anything works, or ethen anything it is the tme frame .. generally done in the 1 minute chart .. bollinger bands, candles are two of the more popular methods .. even just highs and lows with a previous period ..
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Valued Contributor
thing is liek any trading it is not about the indicators/charts etc .. rather it is about the trader ..
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Super Contributor
Jep.. Thats what the last year has tought me so far... Trading is really about comming to terms with onselfs decision making processes and emotional analysis
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Valued Contributor
yip, the rest is about a coin and a dart ..
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Super Contributor
Random entry + discplined money management & exit strategy = profits?
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Valued Contributor
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Super Contributor
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Valued Contributor
an that is how easy trading is .. then just to get the head right, an that's the hard part .. hence my comment of earlier about not lettign my thinking get in the way of my trading ..
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Super Contributor
Things are starting to click... I've also been realising the importance of a trading journal. To add on to the random entry theory, if you are able to increase the probability of your setups being more successful (i.e. better than random) I think you're on the way to being golden.
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Valued Contributor
ya, and I just use 2 or 3 MA's .. nice an simple - but they increase the odds in my favour ever so slightly ..
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Super Contributor
How quickly would you pull your position if it moves in the wrong direction? Does it mean you need X wins of Y size for each loss, etc?
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Valued Contributor
I don't put my stops overly tight .. but my avergae winner is larger then my average loser, coupled with more winners then losers and the odd flyer that returns a massive winner .. it prints money ..
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Super Contributor
i dont agree yes head must be right and money management is critical thats the two aspects but if you dont get the third one right then the other two are useless, random entry in day trading and you will get eaten alive, especially if trading an index.
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Valued Contributor
nope, there are real live examples of random entry working in day trading .. an tharp has done lots on this .. pointis your time frame is completely irrelavent, whether trading on 1 min or annual chart .. tis all the same .. cept for speed of entry ..
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Super Contributor
thats called gambling so you would do a random entry at anytime on the chart without looking at the indicators is that what you saying.
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Super Contributor
I agree with Aslyum.. you need that 3rd componenet ( "An edge" )To have some sort of confrimation to put your confidents at test. But The First two aspects are still more important. headstraight + dicipline(controling losses) Another key is the frequency of trading, i.e Several attempts at trying to get the big move.
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Valued Contributor
yes .. all my trading systems use is 2 MA's, 3 on the lazy .. that is a very small hop above a random entry .. trading is just money management and discipline .. the charts are merely there to give us the courage to enter the trade ..
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