Scalping My Way

Hi all
why scalping my way?

I am not saying it is the right way but isn't the wrong way either ... just another way of trading.. so DD

Strategy - Plan - Psychology - Money Management are my best "tools"
Select the right stock
Buy-enter the stock at the right time
Limit your losses (the winners take care themselves)
Known when to realizes profit (take profit while is there, set out the Target)
Limit your losses (the winners take care themselves)
I sell if I see weakness..... I would exit a trade and not wait for it to hit a stop-loss...JMO
SL IMO is not meant to be hit! It is there to protect you from huge price moves and losses

implement a money management technique when trading, control your emotions and trade with confidence and consistency

My Golden Rule 1:1.5 (2) (even higher but I leave it for now)

Time frame is 2-3 minutes max when is already moving I jump in get my centss (target) and get out (I trade ticks not %) but as soon as I see a weakness I get out regardless..
if ever-when that happen IMO it is because I didn't do my DD (researches) properly
(I hate losing.. so every trade I safeguard my capital...getting out too early? yes most likely but I call it got in too early.... remember I only trade ticks) the rule "let your profit run doesn't apply to my scalp"

don't forget that if you buy XYZ at $3... it move to 3.06... selling with 6 ticks with 3k or 5K shares it make a nice gain .. do that 4-5 times a day and.........$$$$$/rupee will accumulate ;)

IMO isn't difficult to get 5 to 10 ticks the difficult part it is to find the right stock, be psychologically ready, quick decision on executing them... and getting out isn't as easy as it look for many reasons (will tell you another time)

look at the past OPTT MGT HMNY or recent PSPM AUPH to name few... those vertical climbs 10 ticks are a drop in the ocean ... so those are $$$$ reward not centsss (just mention those as to give you an idea of many ticks can even be made)

I never open more than 2 stocks at time(got 2 monitors + sometime the laptop) if I am heavily involved I open only 1 and never leave my eyes from it...

let face it how many stocks go up vertically? quite few isn't it... so the task is to trade them and get out on time... because many time they come down as quick or even quicker

sell a certain reversal patterns... I would exit a trade and not wait for it to hit a stop-loss...just my opinion... I just look for my target not where the stocks go

that is what came out from my "my cocktail's mixing" my D.I.Y. my way ...
too easy to scalp? well just try it
if-when I read about a good idea, I won't trade it but then I thoroughly test it and see how it fits into my trading plan ... will it improve it? (I will explain later)


Finally...
DO NOT: Trade When You’re Emotional
Your measures of success are whether you followed your trading plan and you were able to limit your losses. If you get these things right, the money will flow.

the ability to stay completely flat and allow yourself to execute your trading plan with no emotion, will allow you to always think clearly and objectively

At the end of the day, you determine what it means to be a successful day trader, no one else. The minute you realize that is the answer, the expectations you set for yourself when trading will become more relaxed as these are tailored to you and your trading style.

for the newbie; I advice that before trying that.... do some virtual trading and get experiences

Scalping My Way