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1st) Has anyone traded off a seconds chart. 20sec, 30sec?
If so how do you manage your trades and has it been consistently profitable? I only recently started to look at time charts less than a minute because of the strong movements in gold. Gold can move 20 ticks in 30 seconds...
2nd) The idea of either hyper-scalping (in this case having a profit target less than 10 ticks) and/or managing your trade so you let a few contracts off at say 3-4 ticks of profit (a target where you should get filled very easily) and let the rest ride for a decent move (what ever that may be in your opinion)... good? bad? neutral?
I personally think you have to be a sharp shooter to do hyper scalping, but at the same time if say you're average profit target is 20-30 ticks, and 99.9% of the trades you take will give you 5 ticks, why not trade larger (once profitable of course) and let some contracts off quickly....or perhaps at 1/2 of your profit target?
3rd) If you have a setup have virtually gives you 5 ticks every trade, would you ever be content with trading larger size and taking only 5 ticks?
y'll probably won't think there are bunch others who make a living out of.... ah ham.... what you are trying to figure out.... L O L
yes, yes, yes, it is possible to trade in such fashion but is everyone up to that kind of sudden change of directions....?
which just before you decide to click, the prices and color bars are constantly in perpetuate motion....
if you could live with that.... you are indeed a rare breed of traders who deserve the best in life.... i didn't say that, did i....?
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why, oh why?
did it take you guys/gals so long to get here....?
been trading this way for quite a while and have the markets all to myself.
who are y'll to intrude on my exclusive turf....? LOL
but this is only one among many other avenue to a certain life style.... ok?
enjoy everyone, happy trading the split second charts.... am crawling back to my underground and-a-man cave to meditate on what will y'll discover next.... lol
I want a man cave. Good on ya! Scalp away....maybe one day I'll have the go nads to hyper scalp. One day I decided to sim trade and take a bunch of trades, and honestly I was tired after 5 or 6 trades.....
but I assume if you're good you can take 20-40 trades a day and scalp a few ticks all day.
do you prefer seconds charts or something else?
do you really wish to have a man cave all to yourself for trading and other leisure activities of your life?
actually, you are probably misled by the way i misspelled the location which should read as Andaman Cave which is located along the western coastal beach around andaman seas in thailand. the cave is all wired up with all modern wireless gadgets. the 3 yrs lease is 150k euro at present and there is a 3 yrs waiting list.
the attached pix also probably misled many to think in terms of hyper scaling. but the fact is not so at all.
if you notice, that is the trailing stop, rather, which means if the price would go pass the 5 tics to 6, 7, 8, 9 or whatever in my favor, then suddenly reverses itself against my long or short position.... my trade with such specs would be honored with 4 tics, more or less, mostly. and that is pretty good for me to avoid being stopped out and having only red to show for that trade.... that is what the pix means, ok, isubeano.
i always trade with my buddies aptly named t2, t3 who usually would stay on to ride out the trade with great joy against the minimal stoploss of 6-9 tics. happy trading isubeano and wish you the best too.
You never mentioned anything about stops. I feel that is a mistake a lot of traders make in their trading approaches, they concentrate on targets and not on stops (risk). I think about risk first, therefore I think about stops first, then I think about targets. If you get 5 ticks virtually every trade, but your stop is 30 ticks, each stop out requires 6 winners to make up for that stop out. When you take off a few contracts at 3 or 4 ticks on winners, and get a full stop on the whole lot for every loser, you may find the statistics are stacked against you in reality. You have to think of your risk as an integral part of your trading approach.