Nothing to something scalping system

Trembling Hand · 7 October 2008

OK so here they are. Not a bad day for me.

I traded this account just about all day. As I got a good position in my futs account and just trailed a stop all day long. Very Nice.

With this CFD account I went nuts today. As I said yesterday I was expecting a good high volume day and that's when this works well. So I started for the first 10 or so trades @ $20 a tick then went to $25 by lunch I was up 150 ticks so went to $50 a tick. Although went back to $25 over the interest rate announcement for 10 min.

I have included a chart without the two big wins to show the days trades better. If you were wondering they accounted for about 23% of today's profit.

korrupt_1 · 7 October 2008

Bloody hell... good stuff...

can you trade for me? if you can turn around $10k... in a day... i'm happy to give you 90% commission!!!!!!

barney · 7 October 2008

Trembling Hand said:
OK so here they are. Not a bad day for me.

I traded this account just about all day. As I got a good position in my futs account and just trailed a stop all day long. Very Nice.

With this CFD account I went nuts today. As I said yesterday I was expecting a good high volume day and that's when this works well. So I started for the first 10 or so trades @ $20 a tick then went to $25 by lunch I was up 150 ticks so went to $50 a tick. Although went back to $25 over the interest rate announcement for 10 min.

I have include a chart without the two big wins to show the days trades better. If you were wondering they accounted for about 23% of today's profit.

A recap of my reactions to these kinds of figures ............. 1) and 2) ......................

We have Batman ...we have superman .... now we have "Scalperman" .... lol... Amazing talent TH.

skyQuake · 7 October 2008

Great stuff! How many contracts did u catch the big move on?

Gave a bit back in the chop after 3, nice to see you did well out of that too.

el caballo · 7 October 2008

Ok, another book to be made here - at what level of cumulative profit will TH's account be shut down?

awg · 7 October 2008

Amazing stuff TH !

As you mentioned in your earlier posts, most organisations dont like to consistently lose money.

Casinos, for example disallow anyone who develops an edge, such as card counters, as soon as they become aware of them.

you seem to have developed an edge based on skill, which is allowing you to consistently beat the market.

are you expecting to have your account terminated?

if so, why not? ( you are trading on spreads, not commissions?)

If i was a risk manager and found an account that was consistently taking profits off me, you would be politely advised to take your business elsewhere.
(that would be after i offered you a position)

yours in humble naivety

Trembling Hand · 7 October 2008

skyQuake said:
Great stuff! How many contracts did u catch the big move on?

Gave a bit back in the chop after 3, nice to see you did well out of that too.

I was still hanging onto a couple since the cash open low.

What a move hey!!

mazzatelli1000 · 7 October 2008

Trembling Hand said:
OK so here they are. Not a bad day for me.

I traded this account just about all day. As I got a good position in my futs account and just trailed a stop all day long. Very Nice.

With this CFD account I went nuts today. As I said yesterday I was expecting a good high volume day and that's when this works well. So I started for the first 10 or so trades @ $20 a tick then went to $25 by lunch I was up 150 ticks so went to $50 a tick. Although went back to $25 over the interest rate announcement for 10 min.

I have included a chart without the two big wins to show the days trades better. If you were wondering they accounted for about 23% of today's profit.

Hey TH, I'm sure you've made alot of dough and no doubt have dumped some of it into opther passive investments to keep you going, so a question I was wondering is why you're still in this game?

Is it a love of the markets? or not enough fast women yet? or too many fast women that you have to keep this up

RobinHood · 7 October 2008

guess you went over 10 gorillas TH

to think that was only your friends CFD account!

Trembling Hand · 7 October 2008

mazzatelli1000 said:
so a question I was wondering is why you're still in this game?

Is it a love of the markets? or not enough fast women yet? or too many fast women that you have to keep this up

I reckon I would do this if it was a computer game. I just like the challenge.

And fast women.

tech/a · 7 October 2008

Just the sort of result youd expect on a day like today.
Great work.

Porper · 7 October 2008

Trembling Hand said:
OK so here they are. Not a bad day for me.

I think you have the decimal point in the wrong place T/H.

Pretty hot stuff alright.

Where do I send my cheque for the "How to make a killing in day trading" course.

jersey10 · 7 October 2008

I find this thread absolutely phenomenal. How hard is it to become this effective at trading?
I know TH has said hours and hours of screen time and the hard yards. Is that all it takes, years of trying and getting a feel for the market and the instrument you are trading?

tech/a · 7 October 2008

Happy with a nice little trade of mine today but UNLIKE T/H Im still open so it could go belly up tommorow.Its not a scalp but a discretionary trade.

Wysiwyg · 7 October 2008

jersey10 said:
I find this thread absolutely phenomenal. How hard is it to become this effective at trading?
I know TH has said hours and hours of screen time and the hard yards. Is that all it takes, years of trying and getting a feel for the market and the instrument you are trading?

Yes for sure.I now realise i`ve been holding my contracts for toooo long.Hanging in there for the 50 + point moves is a lower percentage play.Easily seen now by comparison. Thanks T.H.

peter2 · 7 October 2008

Well done TH.
An excellent example of cutting your losers asap.
Your ave loss of 2.045 pts is incredible with a 2 point spread.

You have developed a rare and valuable skill.
I think you should remind readers that you worked damn hard for a long time and must have had a lot of losing days getting your mind around this game.

alwaysLearning · 7 October 2008

Trembling Hand said:
Ok so I'm posting these results with some reluctance. As I said all the results will be verified by a Mod so when the statements come through they will get them.

I need to explain my system a little bit before I continue so as to put todays action in context of how I trade. I have three basic rules to my system,

1. I never want to start the day having to get back more than 1% of my account from the previous days trading. NEVER.

2. I want a system that has few as possible down days.

3. I want to be very aggressive with my trading capital.

Now point 1 and 2 you would think would rule out point 3 but it doesn't have to. This is how I manage to stick to all 3 rules.

Firstly point 2 as I have stated already becasue I trade so often eventually the stats of a positive expectancy, although slight, system works in my favour. I may be down at some points during the day but mostly it works in my favour.

Point 1 I have a daily stop of 1% of capital. If I lose that its over for the day. PERIOD. Now the down side of that is I can easily have 5 losers in a row at the start so I trade very very small to start with so as not to be taken out before the slight positive expectancy has a chance to work in my favour. As I build profit I increase lot size.

And as you will see this is where the aggressive use of capital comes into play.If I have 50 or more ticks in the bag I increase size then again at 100 and on and on. The end result is if I can keep it together I can have some really large days compared to my MAX Daily Risk. Works for me.

ahhh that's really good. I'm going to print this out. My MM has been really bad. This should give me something new to work on. Thanks

awg · 7 October 2008

jersey10 said:
I find this thread absolutely phenomenal. How hard is it to become this effective at trading?
I know TH has said hours and hours of screen time and the hard yards. Is that all it takes, years of trying and getting a feel for the market and the instrument you are trading?

i dont know anything about TH, but he must have absolutely exceptional aptitude for this niche.

some fellows play golf all the time, but they could never, ever make it as pros.

lots of fanatical guitar players out there (like me), but when i see Tommy Emmanuel i still feel like giving up

often repeated on ASF that only 3% of traders are winners.

i imagine the other scalpers ( a specific niche) are also trying to win, obviously many of them are losing.

I imagine TH probably has a fair bit more experience than the average scalper.

as I understand they are mainly young guys and the burnout rate is very high ( not to mention the blowout rate)

Trembling Hand · 7 October 2008

awg thanks for the kind words but nothing special about this little duck.

Just practise. The good thing about scalping is you get as much feedback from a weeks trading as most do in a life time. The secrets are to make the bets very small, no home runs needed. Then you have a chance to survive long enough to learn and as we all know there is a lot of mistakes to be made in this game. If you can learn while not doing any psychological damage or too much stress then you have a some sort of chance. I'm would never say its for everyone but if it suits me.

ThingyMajiggy · 8 October 2008

Amazing TH. I hope that one day I can be as consistent and great at trading as you are. Keep it up

Nothing to something scalping system

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