Finding opportunities intraday
Scalping refers to buying and selling an underlying multiple times in the same day for a small profit. I locate scalping opportunities by looking for price extremes in the market. When I scalp, I can either buy at a lower price and sell it for a higher price, or vice versa. I prefer to primarily sell premium, but I may scalp futures in low IV environments to stay active.
The most important aspect of scalping is liquidity. I will not scalp an underlying that is not liquid, since I am getting in and out of trades multiple times within a day. Ensuring liquidity also ensures that I am getting the best price I can when entering and exiting the trades. Scalping is purely subjective, and there are no guideline in terms of when to get in and out of the trade. I trade very small when scalping, and take profits when they come. I believe that trading too big and greedy are both easy ways to lose money.
- Must have enough capital
- Stay small
- Set reasonable profit targets 80% of daily expected move
- Get out when I’m in the wrong product and when the move has exceed my expectations.
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