The very essence of scalping is just getting on board some kind of obvious very short move without having a view of where the market is heading with this very descriptive explanation of scalping could you please explain how you would know if its a short move if you don't know which way the market is going? Look forward to hearing from you.
you see the mere fact that you are scalping means that your expectation is that the move will be short. So the answer is I dont know that it is going to be a short short BUT my expectation is not for a long sustsained move. Sometimes it can turn out that by luck your scalp delivers more than expected and you get a long sustained move or even a market reversal. That is why on a scalp the position size is kept very small 2- 3 contracts and the rule is to exit at least half the position after 50 points. The rest is allowed to run and the stop is moved then moved to breakeven. Scalping is all about expectations and being opportunistic and as long as you remember that it can be an extremely low risk way of adding to your daily/weekly target.
Cash please this is tiresome ..it was Friday the market was at 30185 i went short ...the market moved to just above 30100...i took some profit...the market moved to 30189 (not exceeding previous high) i went short and took profit at 2990 as i said I would before it happened. If you are short and the market goes down you make a profit. What is so complicated and what excatly do you not understand?
That is very high risk as scalping really only yields 30 - 50 points at a time. Sometimes they can keep running but very rarely. The best way to pick a scalp (Long or short - yes amazingly it can go both ways which you should know) is using bollinger bands. You should know why hey? don't need to explain that one.
oh you went short, sold position then the market went long(first time you mentioned that, after the fact), then you went short again but didn't go long when it reached the bottom you predicted, got closed out, but then didn't enter the long position to net you an even bigger pie. How did you know to exit at 30100 and then re-enter at 30189? what indicators gave you that?
No cash I am trying very hard to explain it as simnply as possible but you do not seem to understand what is meant by risk. Risk is a fuction of position size and stop loss and as i indicated the position size for scalping is kept very small. With scalps you do not hang around if you are wrong. I exit immediately if it goes against me. As for using bollinger bands this is a strategy but there are loads of opportunities for scalping at other times. It would help you to know that the price action only spends about 5% of the time outside the bollinger bands so the opportunities there are very few and far between indeed. I can see you are trying to share this morsel of knowledge you have regarding bolinger bands but you are doing it in a very peculiar way?
Well smarty pants seems you didn't learn a thing from that place of the guy you mentioned that one time. Bollinger bands are the easiest ways to trade scalps BECAUSE they spend 5% outside. BECAUSE they stay inside the bollinger bands 95% of the time.... the 5% of the time you catch them outside thats easy scalping. For someone who scalps you should know that is one of the easiest ways to scalp but you completely missed it and got the explanation so muddled up and wrong.
I do not disagree with you on trading a scalp outside the bollinger bands. Let me say that another way - i agree with you. Do you understand that? I am merely saying this there are many other ways of scalping. I think i now know the problem - its clear you are not the sharpest pencil in the box.