So who's gonna feed the kids when VIX below 30?...just kiddin ya bro...oh I see where you are coming from now...you are a daytrader...that makes more sense and no disrespect intended.
You will notice 90% of people on all websites whether its a trading site or car sites have a hard time with trading and investing, esp during bear mkts.
BTW, your definition of scalping and mine might be very different...99% on here are not trading ES, NQ or TF contracts...they are retail to the extreme...and so are you if you are trading mini's...unless you are a HF or a institution you are trying to piggyback for scraps from the big boys, hence effective volume charts will be important.
There are things like retracement level algo's that will give specific odds based on reasonably reliable back testing methods.
If you are able to stare at a computer all day you can scalp a point or two and make a living at it but its tough...emotions get in the way as your algo set stop loss can come off faster than you can start sweating...when youre highly leveraged with ES contracts and at 50.00 a point, you can lose your focus real fast, hence 90% of daytraders dont last 1 yr.
You can state casually on here you trade based on objective algo's whether its your own or a service based one and hence take emotions out of it, but we know this is extremely difficult to do no matter what your system is.
BTW, I disagree what you said about HF's and large institutions and how their quant box algo's diminish risk because it has been proven over and over again this isnt true...how many HF's have gone under over the past few yrs utilizing these exact techniques you describe.
Where were the quant boxes trading CDS swaps ...didnt GS go bankrupt few yrs back until the tax payers bailed them out?..didnt Lehmans go under?...MF Global?...these co's were using the exact same prog's you said minimize their risk.
The people who make real money without developing an ulcer are the ones trading based on IT and LT timeframes imho.
People on this thread need to see the IT/LT picture...VST doesnt work well for people with actual jobs...
...to scalp a few pts you could prob do this effectively by using delta charts, and just looking at intraday RSI and MACD readings and drawing simple TL's if you have your timeframe set right.
I am finding timing cycles more and more useful myself.
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Originally Posted by BigDog
not sure what you mean about one of those guys.... nonetheless, i'd be interested to see your thoughts if you can summarize them here....
as far as where we are headed? depends how much more kool-aid is going to be chugged... have europe coming out, quadruple witching next Friday.... and then nothing till Jan...
if I was to pretend to be an economist I'd say we're still going to melt up barring anymore disappointments coming out from europe (which is a very high possibility)
in terms of a trader, we generally flatten all models at the desk by close... so don't hold positions overnight.... on my own account i trade mostly es options but again try to maintain delta neutral for the most part and scalp gamma where i can and do hold popsitions overnight...
so in a nutshelll where are we headed? no clue, i try to stay neutral and scalp volatilty... again, a hunch we'll melt up for a bit and hit a brick wall.... somebody's got to pay the piper...
fwiw, eurodollars have been bouncing so should make for some interesting moves.... we'll see
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