The Scalp-master
I got too into my new scalping idea and overtraded today and missed some moves. I’m writing this down so that I remember - I’d like my system to consist of the following principles:
1) trade off of the 30-min charts as usual
2) look for volume on a break of the previous 30-min range
3) try to hold at least half of the position into the close
4) don’t be afraid to take profits/close a position if things don’t feel right
5) make sure to get a large enough position on a trade so that it means something
6) if you reach your max loss for the day - quit
Today I was the scalp-master, riding the waves of the market - in and out all over the place. I traded too many shares and even though I was up a measly $35.11 on the day, I was down with commissions. I missed some nice moves because I was too concerned with taking quick profits. I have to remember that the key is not about taking quick profits, but taking small losses. I’ve decided to cut my max loss in half. I’ve decided I am allergic to losing. I will do everything to avoid losing money. You need to take some risks, but I have been too lenient with losses over the last few months.
No chump is getting my money.
By the way, I got over 80 seconds on the new flash game - beat that, airforce pilots! Maybe ninja stock traders would make great fighter pilots.
