Scalping emini 6370

I had a question about scalping the emini. If I understand correctly you can place either a buy or sell trade without setting up entry, stops, etc. as follows:

Example, lets say you place a buy at 1150 and get filled at 1175. Now you are looking for an exit and when ready, you place a sell. If the market went in the direction you expected, your profit was whatever that range was until your sell was filled. If it went against you and you didn't get filled in time, you suffered a loss. Of course, hopefully you had good reason to see it was headed in the direction you needed for profit. So mainly I'm asking if you can scalp and not use stops, entry levels, etc., but just trade live at the moment. I know many would advise against doing it this way but I'm just trying to confirm you can do it.

Thanks!

You can do it if you want to but it is like driving without a seatbelt.

Thank you, Mart,I appreciate your input.

Also some brokers will not let you send a buy/sell order without an automatic stop. These are usually very low day trade margin rates, like $500 cash per contract. They will require a stop to be in place at all times.

Thank you DRob. That's helpful to know.

Originally posted by DebTom

Example, lets say you place a buy at 1150 and get filled at 1175...

Yes you can do what you were suggesting but your example has me a bit confused. You wouldn't get filled at 1175 if you place a buy at 1150. You'd get filled at 1150 if the market traded down (and through) 1150 assuming that the market was above 1150 when you place the order.

You're right. I think I asked this question incorrectly. I should have said, if I placed a "buy at market" it would get filled at whatever price it's filled at. Then if I place a "sell at market," it would get filled at whatever that price is. Hopefully the market went in the direction I expected via my indicators and I made a profit. Does that make more sense? Sorry about that.

Please respond if you have the time and thank you for your input!