Scalping

Just finished a brief 3 hour scalping session. Scalping is another way I like to trade, there's lots of action and you can make a ton of money in a short amount of time if you know what your doing, but it's a difficult style to master. More trades = more decisions, and more decisions = greater chance mistakes will be made, especially since you have less time to think and the information changes quickly. Scalping is definitely not a style beginners should try with real money, you need to work on your skill first. Infact that's exactly what I'm doing right now, I'm working on my skill in simulation mode people, it may not be as exciting as real money, but you need to build a foundation before you go nutts and take on the trading world. I believe this is how it's done people, practice, think about what's happening, review each session, get your hands dirty, and stop looking for handouts. Below is a chart that is a nice overview of all 6 of my trades from todays session, however I was using a different chart to select my entries. Today I ended up down -$50.00, I'll try talking more about losing sessions/losing trades since everyone else on the internet is just promoting there systems and winning trades, real trading involves ups and downs, get used to the variance, control your emotions, follow your rules, and construct a viable plan that gives you a real edge and you will win.

Market Replay

Thought I'd finally share some trades/charts rather than writing a bunch of boring text. Firstly I don't yet have a live data feed, I need to deposit $500.00 into my account for them to turn my platform back on (ninjatrader), I have not done this yet. It's not 100% necessary coz I can just use older data and "market replay" for my simulation trades. So going forward I will try to post my daily/weekly results and other stuff, obviously I could be "cheating" with market replay, but what's the point of that? I'm only saying this coz there are a lot of people on the internet who don't think it's even possible to "beat" futures trading. I take a lot of trades, so I won't be posting all the screen shots, but each week I will post my stats like total # of trades taken, wins, losses, and so on, hope you enjoy!







This win was followed by a string of losses =(. For the current week I am market replaying through I've taken like 17 trades for a net result of -17 ticks or -$212.50 trading the 6E trading only 1 contract, still it's a small loss in the grand scheme of things and I am a bit rusty. Moving forward I will keep replaying old data until I reach the current market, I'm starting in August, so I have a couple of months of data to get through. I mostly trade off of range charts though, so that's mostly what I'll post. Hopefully after a few weeks of replay data the rust will be gone and I'll be profiting nicely. We'll see.