February 4, 2010 11:35 AM
Here are my SCALP TRADING rules. They are not perfect, but these are my rules and they work for me.
I am sincerely NOT interested in participating any debates or discussions about these rules.
I’ll be writing little more about each of the rule on this blog when I get some time.
SURI’s SCALP TRADING RULES
1. Avoid Counter Trend Scalps. If you have to CT, think very very SHORT term-trade.
2. While Scalping, In Faster markets, you Pay Your Price; In Slower Markets, you pay Market Price.
3. Your first Loss is your best loss. Never ADD.
4. Think EXITS all the time.
5. If Scalping, Develop a Short-Term Memory.
6. Do not turn a Scalp trade (< 10m) to A Day-trade.
7. Do not follow anyone. You won’t have time besides no one is right all the time.
8. Follow Market Internals and scalp in that direction.
9. Intuition/Hope/Praying does not work. Follow RULES.
10. Set Profit/Loss Limits (for every trade/day) and Stop Trading that trade or for the day if you exceed those limits.