{"id":8008,"date":"2010-11-01T12:38:52","date_gmt":"2010-11-01T16:38:52","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=8008"},"modified":"2023-08-04T09:44:54","modified_gmt":"2023-08-04T13:44:54","slug":"traders-ask-the-intraday-scalp","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/traders-ask-the-intraday-scalp","title":{"rendered":"Traders Ask: The Intraday Scalp"},"content":{"rendered":"

Question:
\nMy question is how big a move do you typically look for on a fairly quick intraday scalp trade<\/a> ? I know we take what the market gives and the skill is to know “when to hold em and when to fold em”..but I wonder what the mindset is.
\nExample: watching LVS pull back to 46.70 today just before 12:00est, I saw the buyers come in and defend 46.70. \u00a0Went to 46.90 in under 2 minutes, my thought is to cover half position and look for another 20 cents or so…depending on price action. I have limited capital so my question is how you what you would be thinking \u00a0in this situation. Thank Guys !<\/p>\n

Bella Responds<\/strong><\/p>\n

I like how you are thinking through this trade for your playbook. \u00a0Oh the old scalp. \u00a0That play no one wants to admit they make, just like Seinfeld never watched Melrose Place<\/em>. \u00a0 As I say to our guys a scalp<\/p>\n

is a legitimate trade. \u00a0Here is what never will happen. \u00a0Trader A takes their check to bank after a week of scalp chops.<\/p>\n

The bank teller looks at the trader, looks at the check, finds her manager for whispers, and then says,” I am sorry but we cannot cash this check because it is the byproduct of Scalping.” \u00a0Not gonna happen.<\/p>\n

But in this day and age of HFT battling HFT battling third party HFT for a half a cent, \u00a0the Scalp Trade<\/a> has been deemphasized on the best intraday trading desks. \u00a0The programs are just too fast programming out many of the easy traditional scalp plays. \u00a0So we adjust but still can find an easy scalp here and there.<\/p>\n

For me a Scalp Trade is a move to move trade. \u00a0I scalp a long because the Tape has demonstrated clearly that the next move is most likely up in the stock. \u00a0I get long and when the stock finds that higher ground I get out. \u00a0This move is generally the spread of the stock plus a little more. \u00a0We are talking 20-50c for most of these trades. \u00a0 But more specifically I pay the offer and sell when the stock slows on the tape (stops going up). \u00a0Or I pay the offer and hit the stock when a bid I spot as protection is about to get hit out.<\/p>\n

It’s long into the next move, taking no risk, both hands on the wheel, fast reacting, small profit trading.<\/p>\n

Mike Bellafiore<\/p>\n

Author, One Good Trade <\/a><\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Question: My question is how big a move do you typically look for on a fairly quick intraday scalp trade ? I know we take what the market gives and the skill is to know “when to hold em and when to fold em”..but I wonder what the mindset is. Example: watching LVS pull back to 46.70 today just before … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,908],"tags":[333,4674,1454,83,18,653,1354,1349],"class_list":["post-8008","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","category-traders-ask","tag-hft","tag-one-good-trade","tag-scalp-trade","tag-scalping","tag-smb-capital","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nTraders Ask: The Intraday Scalp | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/traders-ask-the-intraday-scalp\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Ask: The Intraday Scalp | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Question: My question is how big a move do you typically look for on a fairly quick intraday scalp trade ? 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