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What is your experience with thetradescalper.com approach?

  #24 (permalink)

Osaka
 
Trading Experience: Master
Platform: Ninja
Broker/Data: IB
Favorite Futures: Stocks
 
MrBean's Avatar
 
Posts: 109 since Jan 2010
Thanks: 26 given, 24 received

thetradescalper

I looked at the videos and noticed that he uses old tops as new bottoms for support, and old bottoms as new tops for resistance , you just put in your order at the level of the old top/bottom and hope for a fill 3 ticks away, and pray that your 6 tick stop loss is not hit. I believe that this strategy would have a slight edge , but I don't know if that edge would be enough to cover commissions and slippage (if any). I will sim trade it on Ninja Trader using replay data and give you the results. I don't know what ATO or Atlas Line is - feel free to share!

As for the question about why alleged successful traders sell their systems , I would say the answer is very simple : make risk free money! I would like to have more than one income stream, but I have one stream coming in and 100 going out, thus I remain with J.O.B. - Just Off Broke.

One red flag for me is that the scalper guy says that if you manage to make just a few wins from his method then you should walk away for the day. Why would you do that? If I had a consistently profitable reliable strategy then I would want to milk it for all it's worth. To walk away is like saying "if you are lucky enough to get 2 or 3 blackjacks in a row then walk away before you lose it back" - that's gambling WITHOUT an edge, not with one.

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