Started to go short, then backed off. +1x3. Waste maybe. ES did not break down, and CL hit 94 with HSV. The volume is just not here, other than the move down. And now into lunch.
Net 34 on 6 RTS, no losses, but poor risk. Maybe.
2 years ago I might have bought 94.03 and held it. There was a discussion of "luck" last night, and had I done that today, would it have been skill, or luck? Buying simply on a colored line and a prayer?
If ES stays above 1395, I am not comfortable shorting CL in this blue zone. This is major support, and while there may be 20-30 ticks around thi area, volume is so light anything could set this thing off in who knows what direction.
I would sell 94.90 now...
And, in low volume, if I had to choose, for some reason I choose long. But the indicators are screaming short.
Days like today make me want to put more faith in scalping. 18RTs, 2 losses for $30 total, net $910.00. means nothing really.
I often wonder if I could scalp succesfully. I stopped doing it exclusively because I was just turning commissions a few years ago. I went to longer moves and it started to work better. But, I continue to get better at it, understand it more. Not that there is not a good move, or that it should be excluded. That is really what I was looking to change my charts for, so I did not have to worry about when to buy black or sell white, or whether I was above or below the 144.
And the "logic" comes in, and says don't even think it.
I thought Mark Cook was a scalper, eventually, but also heard runors that he was not as succesful as he should be? I thought about trying to find him in Ohio. There is another guy, can't recall his name, but called "The Flipper"?
Really I scalp when I am more nervous. Today's light volume just bugged me, then the main move opened down but it fell right into prime support, then I could not find a shortterm buy signal, and ES just hovered over those stops, still may take them out. What is funny was my first trade today was long 94.02. Shakes my confidence every time though. Freight training was what I was taught it was called, and it was something you do not do.
Last edited by GaryD; August 30th, 2012 at 02:35 PM.