follow the leader extreme scalping

robster970

Veteren member
4,566 1,390
When I started, I thought about I might make when I looked at entering. Now I think about what I might lose (loose). It makes quite a difference.

That is a significant thing that I think we all go through. That only really became strong for me in the middle of last year and it turned moderate profitability into something worthwhile. It was one of the last pieces of the jigsaw psych wise for me. I always now feel I can manage my money and risk better. The process is about refinement of this for me these days.

Up 12 ES ticks this week. Moderate. Had to work hard for it.
 

VielGeld

Experienced member
1,421 179
Yeah completely free - unless you want to execute via Ninja,
either with full automation or NT's ATM (advanced trade management).
Same applies if you just want to use Ninja as a front end to avoid using the sh1te front end of IB for example.
If you want to execute via ninja you need to buy a license:
NinjaTrader stock, futures and forex charting software and online trading platform. Purchase. Own.
NinjaTrader stock, futures and forex charting software and online trading platform. Purchase. Lease.

$1000 to own, wtf.

Thanks for the info. $1000 still sounds pretty pricey for a platform, though. Might have to try and find a cheaper solution once I decide to start executing.
 

ChocolateDigestive

Experienced member
1,153 281
$1000 to own, wtf.

Thanks for the info. $1000 still sounds pretty pricey for a platform, though. Might have to try and find a cheaper solution once I decide to start executing.

i don't think anyone buys the license outright, a cut down version of ninja is certainly available free with AMP or $50 pm for the full month. ask toast he knows ninja
 

ChocolateDigestive

Experienced member
1,153 281
There's something in this.

The first thing, look at ES/NQ/YM this week. That's a week where a lot of traders are going to get chopped up.

I lost no money this week and I'm happy. Both because it's the best I could expect in a market like that, and because I followed my method, which meant no trades.

So it's been a very successful week.

The second thing, well it's pretty perfect in my view. I guess it might sound trite to some, but to me it's one of those things that I tried to make instinctive.

When I started, I thought about I might make when I looked at entering. Now I think about what I might lose (loose). It makes quite a difference.

kinell no trades this week you must have massive discipline. I tried taking small numbers of trades but it didn't suit my character there was a need for involvement in the market which also through up other problems but there it is.


what t/f you off, like 4H and above or hourly and just super picky.
 

ChocolateDigestive

Experienced member
1,153 281
That is a significant thing that I think we all go through. That only really became strong for me in the middle of last year and it turned moderate profitability into something worthwhile. It was one of the last pieces of the jigsaw psych wise for me. I always now feel I can manage my money and risk better. The process is about refinement of this for me these days.

Up 12 ES ticks this week. Moderate. Had to work hard for it.

yeah it's one thing saying you are going to cut your losers and it's another thing doing it in practice. this ex floor trader and current seat holder gave a talk at our prop shop he said a good thing to start off trading stocks is pick something thick like BAC. Then just enter at random with the trend and either take a +1c or -1c loss, nothing else. the idea behind it was to get the trader used to taking small losers, like burn it in their psyche.
 

The Leopard

Experienced member
1,877 1,020
kinell no trades this week you must have massive discipline. I tried taking small numbers of trades but it didn't suit my character there was a need for involvement in the market which also through up other problems but there it is.

Indeed old boy. Cast iron is as mere jelly when compared to the rigidity of my will.

what t/f you off, like 4H and above or hourly and just super picky.

Not a bit of it. I neglect to dress for dinner and take my chop and claret at the dirty end of the room, as it were. 5 minutes if you please, and not one second longer.

Since I trade three things that might sound a bit extreme to some; to endure an entire five days without a single tickle. It is fairly rare, but very far from unknown.

I made a post recently saying that I expect each trade I make to lose. Why? For the simple reason that every trade will, however temporarily, be in the position of showing a negative balance of sponduliks against my name, due to my broker's impertinent habit of charging me commission. I have tried to reason with him on this subject, but to no avail. The commission-charging habit grips him like dram-drinking grips a Scotchman. Perhaps I should say in the interests of strict accuracy that since my account is denominated in dollars, the negative balance manifests itself in the form of clams or, if you prefer, simoleons. No matter, the import is the same.

Now, draw near and I will impart to you a secret, upon the understanding that it is to go no further than our own good selves. I do not enjoy losing money. It lacks appeal for me. Doubtless it is attributable to some character flaw or other, but the idea fails to fire my imagination. Many will find this strange, but I would urge them to remember that even those with whom we may happen to disagree are also God's creatures.

So, when I consider opening a trade, what confronts me? The prospect of moving from, in the argot of the trading world, the position of being flat to the position of (not in the argot of the trading world) being in the soup. Admittedly, since at that point all we are speaking of is spread and commission, the soup is neither dangerously deep nor unpleasantly hot. At most, I have a toe in soup that is but lukewarm. Nevertheless, the soup is not a suitable place for persons of an artistic nature and a sensitive disposition. Whilst it does not disgruntle me unduly, neither does it gruntle me. It adds nothing to my gruntledness.

Why therefore would I wish to enter therein without compelling reason to do so? You would not, I hear you cry, and you would be correct. This week, no such reason presented itself. The soup failed to sing its Siren song. And a jolly good thing too, for, to continue with our brief tour of classical antiquity, the soup contained no fleeces of gold, but only Scylla and Charybdis.

In the absence of good reason, the soup and I entertain no relations. We remain as strangers. This distance between us pains me, but it is necessary.

I wear a tie when breakfasting at the Ritz (despite their inexplicable embrace of barbarism in no longer requiring this), and ignore the unlovely sight of "gentlemen" consuming eggs and bacon in the exquisite restaurant with exposed necks. Similarly, I do not enter trades without good reason. It is hard, but many worthwhile things are. We endure. We are the heirs of de Monfort, Cromwell and Wellesley, of heroes too numerous to count. We are made of stern stuff. The lip may on occasion quiver slightly, but it remains stiff.

Or to put all that another way, it's not what you win, it's what you don't lose.
 
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DionysusToast

Legendary member
5,963 1,501
yeah I count scratches as a 'positive' , it's a psychological thing, I am annoyed at the 10c looser, those need to be kept to 5c max, as soon as you are 5c you should cut, don't think just cut it. still it made an entertaining couple of hours trying out a new strat. no averaging/layering in which always makes me a bit uncomfortable.

Yup - I don't count scratches as losses either. Mostly because I'm patting myself on the back for managing it well @ that point.
 

ChocolateDigestive

Experienced member
1,153 281
Not a bit of it. I neglect to dress for dinner and take my chop and claret at the dirty end of the room, as it were. 5 minutes if you please, and not one second longer.

Since I trade three things that might sound a bit extreme to some; to endure an entire five days without a single tickle. It is fairly rare, but very far from unknown.

I made a post recently saying that I expect each trade I make to lose. Why? For the simple reason that every trade will, however temporarily, be in the position of showing a negative balance of sponduliks against my name, due to my broker's impertinent habit of charging me commission. I have tried to reason with him on this subject, but to no avail. The commission-charging habit grips him like dram-drinking grips a Scotchman. Perhaps I should say in the interests of strict accuracy that since my account is denominated in dollars, the negative balance manifests itself in the form of clams or, if you prefer, simoleons. No matter, the import is the same.

Now, draw near and I will impart to you a secret, upon the understanding that it is to go no further than our own good selves. I do not enjoy losing money. It lacks appeal for me. Doubtless it is attributable to some character flaw or other, but the idea fails to fire my imagination. Many will find this strange, but I would urge them to remember that even those with whom we may happen to disagree are also God's creatures.

So, when I consider opening a trade, what confronts me? The prospect of moving from, in the argot of the trading world, the position of being flat to the position of (not in the argot of the trading world) being in the soup. Admittedly, since at that point all we are speaking of is spread and commission, the soup is neither dangerously deep nor unpleasantly hot. At most, I have a toe in soup that is but lukewarm. Nevertheless, the soup is not a suitable place for persons of an artistic nature and a sensitive disposition. Whilst it does not disgruntle me unduly, neither does it gruntle me. It adds nothing to my gruntledness.

Why therefore would I wish to enter therein without compelling reason to do so? You would not, I hear you cry, and you would be correct. This week, no such reason presented itself. The soup failed to sing its Siren song. And a jolly good thing too, for, to continue with our brief tour of classical antiquity, the soup contained no fleeces of gold, but only Scylla and Charybdis.

In the absence of good reason, the soup and I entertain no relations. We remain as strangers. This distance between us pains me, but it is necessary.

I wear a tie when breakfasting at the Ritz (despite their inexplicable embrace of barbarism in no longer requiring this), and ignore the unlovely sight of "gentlemen" consuming eggs and bacon in the exquisite restaurant with exposed necks. Similarly, I do not enter trades without good reason. It is hard, but many worthwhile things are. We endure. We are the heirs of de Monfort, Cromwell and Wellesley, of heroes too numerous to count. We are made of stern stuff. The lip may on occasion quiver slightly, but it remains stiff.

Or to put all that another way, it's not what you win, it's what you don't lose.

good post reminds me of socrates
 
L

Liquid validity

0 0
$1000 to own, wtf.

Thanks for the info. $1000 still sounds pretty pricey for a platform, though. Might have to try and find a cheaper solution once I decide to start executing.

No need to buy outright lifetime license, quarterly license is only $180.
That is only if you want to execute via Ninja.

Just to be clear, you do not have to execute via Ninja.
Using NT for charting, the tape and orderbook, backtesting, feed recording
is all entirely free.
You don't even have to pay for a feed if you use the feed from a supported broker.
You only need to pay for it if you want to submit live orders from within Ninja.
 

barjon

Legendary member
10,705 1,809
I really take my hat off to you guys :cool: . I simply can't cut it and every foray into the scalping arena I've made over the years has resulted in blood on the carpet.

I know why (I think), it's because I'm a ditherer and he who hesitates is lost. Can't make instant decisions and by the time I've weighed up the pros and cons the game is over.

I can't run the 100metres in 10 seconds either - but I do enjoy watching those who can :)
 

DionysusToast

Legendary member
5,963 1,501
No need to buy outright lifetime license, quarterly license is only $180.
That is only if you want to execute via Ninja.

Just to be clear, you do not have to execute via Ninja.
Using NT for charting, the tape and orderbook, backtesting, feed recording
is all entirely free.
You don't even have to pay for a feed if you use the feed from a supported broker.
You only need to pay for it if you want to submit live orders from within Ninja.

And then ONLY if you want to do it through a broker that doesn't give it to you for free.
 

VielGeld

Experienced member
1,421 179
I am enlightened. Thanks, guys. It seems I may finally get to try futures for free on a reputable platform. :)
 
 
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