Just done a series of vids scalping the DAX over 4 days as part of a challenge and it was hard work, my main income comes from swing and true day trades with decent moves. Yet the bulk of emails I get are around scalping. This makes me wonder why as returns are not as great and the stress level is huge compare to a swing. Anyway here is the last vid that was damage control in a blood bath of a trades
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Think I’d rather be scalped than have to be a scalper to be honest 
I will have to watch it. Al Brooks is very good at scalping and he even admits that scalping should never be done by beginners as it is an account killer if you don’t know what you are doing.
I think your style of Day Trading is a better way, especially for beginners.
Cheers
Blackduck.
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Hi @Lang15
I watched the video and job well done as you were successful in trading a way that you don’t like to trade. The sign of an experienced trader.
I have to ask a few questions and make a comment or two and I hope you can see that it is in no way any criticisim of you and your ability. I took a screen shot so I could ask these questions however I will have to explain what I am seeing on the chart and I hope you can follow.
So I guess the question is why didn’t you trade that big move down?? Or did you catch some of that move??
I got the impression that you were only looking to go long off that 50% level and then re-evaluated your assessment to looking to trade the reversal of that big bear trend.
The reason I ask is that as you alluded to scalping is hard because you don’t know exactly which way the market will go. So therefore being flexable to trade in any direction helps capture a big move when it comes. I would be interested to know how many pips were in that big move down.
I know it’s easy to read a chart once it has played out. It’s another to do it in real time. However (and this is purely a comment) looking at a second rejection off that upper resistance level creating a double top I would have been looking at that as a short. Especially as there was two doji bars and then a strong bear bar closing on its low that tested the moving average. The way I have been taught by Al Brooks is that 75% of the time if price tests a level twice and rejects that level both times then the market will normally do the opposite. Especially if it is followed by a follow through candle that closes on its low suggesting that bears know that there are no willing buyers and in fact there will be trapped weak bulls that bought at the top of the trend that will have to sell out of their longs realising they are trapped on the wrong side of the market.
I would appreciate any comments you make on this analysis.
Cheers
Blackduck
I see overwhelming evidence that most new traders start by using very short time-frames, what we now call scalping. Why? They bring their own preconceived ideas before they’ve ever placed a trade - i.e. very short duration trades, less than an hour mean -
- your trades are less likely to be hit by price reversal
- you can set a tighter stop-loss and this means a smaller capital risk
- you can trade a smaller account so less of your personal money is at risk
- you are more likely to catch the start of a move, less likely to enter at the end
- your position is less likely to be hit by news events and announcements
- you will make more money per month
- you can make money every day, just like a real job
- you avoid the risk of holding overnight when anything could happen…
All these are wrong but it doesn’t make them less powerful.
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You and me both , dont fancy doing that every day
I agree , not a lover of trying to get a few pips constant rather look for a big move and scale out much more peaceful
How can I read more about the style of daytrading that you mention here?
To a degree you are right however I find the 5 min to give to many false signals so I would not consider the time frame for choice of direction more a place to enter the trade. When looking at the hour and the 15min they were conflicted so had to move further out to the 4hr to make a direction choice which was a play of long to the 50% fib. Once I have made my direction choice based on this I would only look to trade long , call it a filter if you will.
If not a challenge I would have not traded but I am a sucker to Winky lol. As the price moved down I was waiting for an exhausting point to enter. The theory being as long as the direction is right the market will forgive a bad entry, which in this case it did.
Still had the hard stops in place which dont change for any of the trades so as the price move up and down the risk reduced as I was nicking out profits till the market stopped its bouncing about and went back to the 4hr 50% which the market did on the 4pm to 8pm candle
.
In summary if I had traded that as a beginner trying to catch both directions would have being a nightmare and a huge loss , pick a single direction to filter noise and then trade what you see in the moment as no matter what you think the market can change in a heartbeat and just have to have a plan to either trade out or cut loss which ever is the best option.
This is the end of day deal sheet for the trade
Advise to self stick to my normal day & swing trading job as did not enjoy it one bit
Kind Regards
Langers
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@tommor You are spot on. But the issue with new traders is that most of them start with a very small balance and that small balance will never allow them to trade a higher timeframe as the risk becomes too great.
Even if they started with a larger account their psychological abilities would not let them trade larger timeframes as they would freak at the possible drawdown.
Cheers
Blackduck
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Once again great work and thanks for your explanation.
Cheers
Blackduck
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Sorry but are you asking for Al Brooks style or @Lang15 style??
Al Brooks is easily found through Dr Google.
Cheers
Blackduck
Hi @Broadsword
He has a website called The Scruffy Trader. There you will find videos that he does explaining his way of trading. It’s a good site and he is a fair dinkum guy.
Check it out. You will like it.
Cheers
Blackduck
LOL do i have style thought I was scruffy lol
I’m sure Winky sees you as her handsome dashing knight in shining armour.
I know that’s what I see in my sweetie. 
Cheers
Blackduck
She is sure I am a scruff lol
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…found the Aussie 
im not sure what the definition of scalping is ,i trade the dax a lot and im aware that things can change very quickly. especially over the last few month s.I do find myself “scalping” maybe after closing a trade when the volatility crazy at support and resistance levesl though you do need abit of experience under your belt.I also like to short term the dax london[spread minimal ] when its quiet ranging and not much news about which probably not been the case in recent months