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Seeking the Scalpers Edge


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Seeking the Scalpers Edge

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  #1 (permalink)
 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
TradeTheLevel's Avatar
 
Posts: 438 since May 2017
Thanks: 222 given, 681 received

Seeking the Scalpers Edge

This is my new trading journal. My previous journal was very dedicated in trading the currency markets. I will always have my love for those markets, however my new quest is finding my edge scalping commodity products.

I am no stranger to these forums, nor am I a stranger to trading these markets. Been around the block a time two. Like many traders, I have been adapting how I trade to fit current life styles and my daily routine. I am not a full time trader. I am however full time in the military and that job keeps me away from trading often. However, I am able to jump in and scalp the markets from time to time. Sorry to those on the other side of my trades


Motto: Reward comes to those taking risk

"In trading, those that take risk get rewarded. I look for the trades others do not want. "

[*]I will purchase your stops
[*]I will take the other side of your profit taking
[*]When you wanna bail out of a trade, I will be there.
[*]I will buy your fear, your greed, your pain.
[*]insert funny quote here...


Concept: Stops and profit taking create volatility. All I need is for them to trigger and they create enough reactions to profit from.

Goals:

As of right now, I am already running a large options portfolio in the Russell. I am also scalping these futures like a mad man. I do want to level up to one of these funding programs. I would have passed these programs within my own trading. I do like the idea of these programs literally costing what a stop loss costs in the futures market. Its kinda a no brainer. Honestly, internally I just wanna prove I'm better then all those that failed.

Whats stopping me is my job. Just waiting for some projects to get out of the way so that I may have a bit more attention for the market during the day. Beauty of scalping the way I do, I simply just pop in and get out. Happy lunch break right?

I don't plan on getting into every little detail of each trade. I do wanna log in and talk about the good, the bad, the ugly when they do happen. Feel free to chime in.


Here are some some recent trades to start this journal out. Links above image

https://www.tradingview.com/chart/NQU2021/Bis0hofi-Trade-Scalp-on-breaking-the-low/


https://www.tradingview.com/chart/ESU2021/PSqvoOgR-trade-2/


https://www.tradingview.com/chart/ZCZ2021/nFgJWhAa-Scalping-the-markets/


https://www.tradingview.com/chart/NQZ2021/nNTVbfWb-Scalping-the-markets/




Cheers

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  #2 (permalink)
 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
TradeTheLevel's Avatar
 
Posts: 438 since May 2017
Thanks: 222 given, 681 received

One of the additions I am considering adding is to leave 1 contract open as a runner. There are times where I bottom tick the market and could turn a scalp into a swing. This sounds really nice however it does have it flaws. How many break evens on that 1 contract will I suffer before getting that nice swing? If I were to close all contracts for X amount of time, would I have been more successful harvesting the extra capital? I'd have to start logging this to see if it really would be an improvement.

Couple past trades I have had not to long ago where a runner would have worked out if I maintained multiple contracts.




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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Posts: 438 since May 2017
Thanks: 222 given, 681 received


I went ahead and subscribed to tickstrike today. I came across them and really liked the idea behind it. So far I like what I'm seeing. To early for a full review.

Also today's trading was pretty ugly. The market is really finding direction and making my current strategy garbage in this environment. I'll add more to this later. Just wanted to get this out now and goto lunch. Cheers.

Sent using the futures.io mobile app

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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Posts: 438 since May 2017
Thanks: 222 given, 681 received

Spent the last couple of days looking for edges I could use when scalping. Switched over to the motivewave wave platform as I'm looking to do an account with apextraderfunding as they got the best program for the dollar right now in my opinion. There using a rithmic feed. The strategy I was using has been working better than expected, till it didn't. That's because the market found a bit more direction. This is something I need to note when doing my trading. I remember reading from no BS day trading that you gotta find the market that is right for your strategy. Sometimes it will not be that week but another. Knowing last week was not my week for what I was doing, I took the time to research and try to grind out some other possible edges. I may have found one in the bond market. It may be like watching paint dry at times but it's very easy to scale into for a couple of ticks scalping that market. Just have to wait a bit more time to get to your profit or even watch the market slowly fill your orders.

Last night I took 5 contracts off the previous trading days POC. It got filled partially for 4, then the last contract making 5 total. The take profit limit order slowly filled as they were getting hit 1 at a time for about 5 mins. I was able to net $450





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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Took another 3 ticks at the open on ZB. Its not that I'm focused on the Asia open, it just happens price was at my trigger area. I had a limit order waiting at the P. POC. Was another 5 contracts. Got partial fill for 4, then 1, and was able to close all 5 at the take profit limit.

On another note, I set up a VPS so I can use MW on my mobile phone. Make things a bit easier for me at work.


ZB

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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Posts: 438 since May 2017
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Did a lot better today than I expected I would. Today I was scalping stop runs with a 3 tick profit and 3 tick stop. Basically placing stop orders in areas where there would be allot of stop losses. This would force the price to move further. As the day went on I was just simply placing stop orders at work in areas id place my stop losses and it worked out great today. The trade manager placed my stops and targets for me when the limits hit on the VPS server. After fees and commission $2250 kinda day.


ZB 30yr T-Bond

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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Posts: 438 since May 2017
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Today's trading started with a surprise. The feed stopped overnight and my auto trade management was not able to see the order trigger to place the stops and profits. The first trade went way into profit. Happened to wake up at night and close the trade for 1 tick profit. whew.

All trades were 5 contracts. The multiple arrows were the partial fills. I was riding stops for 3 ticks.

2 wins, 1 loss, 1 almost complete failure.

4 ticks. $600 today.


Sorry for the lower quality screenshot, took this off my phone.

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 TradeTheLevel 
Rockland, ME
 
Experience: Intermediate
Platform: Motivewave, TradingView
Broker: Tradestation
Trading: Futures: ES, YM, RTY, NQ, GC, CL, ZS, ZW, ZC
 
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Posts: 438 since May 2017
Thanks: 222 given, 681 received

Wanted to add that I just signed up for earn2trade. I had a 50% off promo go my way. If it wasn't for the promo I would of went with apextraderfunding as they have the best conditions.

These accounts are designed to blow up the rules. So I just gotta be careful and honestly just have fun with it.

50k trial. The profit goal is 3k with a max daily loss of 2k.

There is a consistency rule that states no day can account for 30% of the profit. 30% of 3k is $900. As long as I stay under $900 a day, I will meet that objective.

I'll keep to 2 contracts following the progression ladder. 1 stop for me will be $90 per contract.

Not sure if anyone is interested in following this progress. Just expecting to have fun with it and a small chance to make it. As I am seeking the scalper's edge here, not mastered it or confirm I have one.

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