Scalping - Which Technicals to use?

[theoriginalboss]

I am new to scalping, (buying and selling shares within seconds to minutes). I currently use level 2. I now want to use technical analysis to help. I would like to know which are the most important indicators to help me get started? I know there is no black and white answer to this, but i'm sure there are certain technical indicators which are most often used to help. Your replies are very much appreciated.

 

[in2uxs]

Scalping?

Sounds like the worst kind of piggy wig dealing to me.

 

[TWI]

Lot of people look at Bollingers and Fast Stochs. Maybe you want to look at price breakouts, that would be my choice.

 

[Mr. Charts]

theoriginalboss,
Are you scalping US or UK stocks?
Richard

 

[BlueChip Trader]

I am new to scalping, . I would like to know which are the most important indicators to help me get started? I.

PRICE AND VOLUME

Try reading the following two books, then record level II action using a screen capture programme and review and learn.

"Tape Reading & Market Tactics" by Humphrey B. Neill
"Techniques of Tape Reading" by Vadym Graifer

 

[andycan]

PRICE AND VOLUME

I second that

 

[Mr.Black]

Joe Ross "Law of Charts: can help you but i think is better to scalp ES,Ym e-mini's no up-tick rule

 

[theoriginalboss]

Hi Mr Black, i'm looking to trade UK stocks. What is ES?

 

[andycan]

Hi Mr Black, i'm looking to trade UK stocks. What is ES?

Mr Black is talking about index futures ES is the mini S&P
YM is the mini DOW

 

[Mr.Black]

Hi Mr Black, i'm looking to trade UK stocks. What is ES?

ES is S&P 500 e-mini futures contract

 

[Mr. Charts]

theoriginalboss,
I see you say you are scalping UK stocks using level 2.
To do that successfully you need to really understand bots and how they work. Of course you may already be very familiar with reading their activities.
Richard

 

[Mr.Black]

some fresh scalping opp's

 

[Mr.Black]

Practice all day every day

 

[ammo]

try using 30 min candlesticks,keep moving your stops to maintain profit,hardest part of scalping is taking loss,set your pain threshhold and stick to it,you will be wrong more than 50% so look at loss as part of scalping,if you make 5 trades and lose 500 and 3 trades and make 1300 you made 100 dollars per trade,hence the profit in scalping is derived from a volume of trades where you took small losses and larger profits,small losses is key to your success

 

[wEdUz]

kevin ho, owner "Scalp Trading Methods" said there's 3 categories scalp trades, time sensitive, countertrend and trendcontinous trade. Indicator used : ma, stochastic; using candlestick pattern
u can read his method on http://www.earnforex.com/forex_ebooks.php

 

[econ604]

I have found high percentage trades using consolidation breakouts in correlation with a broad market push in the direction of your trade (S&P futures, NASDAQ E-mini)
Downside is these trades do not come often perhaps 3 times at most during a trading session
Dose anyone know of any good mentors or books that teach how to read the action in the NASDAQ II box , I have spent a considerable amount time watching screen recordings of price action but I am not effective in reading the NASDAQ box and tape by itself

 

[AsifA]

good advice and fantastic motto !

 

[de123]

PArabolic SAR, and Fibos for determing the entry, exit points but do look higher time frames first, for direction, dailly rules....MACD for convergence, divergenze, RSI for overbought, oversold,...but if u wont to trade 10-30 secunds, then dont use any, there wont be enough time ...lol....i just found that the last time....

 

[eudamonia]

Scalping is doable

For those doubters that scalping is doable, I do it every day on the eMini Russell. Check out my trades at http://lordtedders.blogspot.com and watch how I do it. It's about using S/R intelligently with OB/OS indicators like RSI/RSX.

Edward

 

[ammo]

some fresh scalping opp's

what do the ttte and rh stand for