Trembling Hand
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CanOz's intermittent and sporadic trades
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Re: Scalping the DAX (SIM)
Hope i'm not hijacking here but the question relates to DOM so figure it's related.
I'm coming from spot currencies so have no knowledge of this stuff, anyone know any good resourses? I know i will get comments that the only way to learn is to watch, but i think it can speed up the process if you know some of the things to look for beforehand
I've found some posts which seem to make sense, Buy 'em's posts here http://www.trade2win.com/boards/money-markets/29286-bund-bobl-schatz-thread-9.html (later in the thread he mentions he is only 17 though so i have my doubts.) Later on in the thread there are some posts from Mpoufos who seems to know his stuff... Any comments on their posts from anyone with experience appreciated
Also reading the no bs day trading ebook which seems pretty good
Hope i'm not hijacking here but the question relates to DOM so figure it's related.
I'm coming from spot currencies so have no knowledge of this stuff, anyone know any good resourses? I know i will get comments that the only way to learn is to watch, but i think it can speed up the process if you know some of the things to look for beforehand
I've found some posts which seem to make sense, Buy 'em's posts here http://www.trade2win.com/boards/money-markets/29286-bund-bobl-schatz-thread-9.html (later in the thread he mentions he is only 17 though so i have my doubts.) Later on in the thread there are some posts from Mpoufos who seems to know his stuff... Any comments on their posts from anyone with experience appreciated
Also reading the no bs day trading ebook which seems pretty good
tech/a
No Ordinary Duck
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Re: Scalping the DAX (SIM)
Thought it was the future.
Was un aware it was a CFD until now.
Thought it was the future.
Was un aware it was a CFD until now.
Trembling Hand
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Re: Scalping the DAX (SIM)
Personally I wouldn't bother using the DOM to flip a few ticks here and there now days unless its a particularly slow day (or time of day). There is just far to much happening in the world to worry about scalping, true scalping.
With that said DOM skills for execution and watching your bigger time frame ideas play out are without doubt 100% necessary to trade futs fulltime. If you can get a tick or two on your winners and a tick less on your loses over a career of full time trading thats equates to $100,000s.
Blind Freddy may be happy to just hit the market after a moves starts for his 8 trades a week but doing 20-50 trades a day on a handful of contracts - a few ticks per trade is real money.
Personally I wouldn't bother using the DOM to flip a few ticks here and there now days unless its a particularly slow day (or time of day). There is just far to much happening in the world to worry about scalping, true scalping.
With that said DOM skills for execution and watching your bigger time frame ideas play out are without doubt 100% necessary to trade futs fulltime. If you can get a tick or two on your winners and a tick less on your loses over a career of full time trading thats equates to $100,000s.
Blind Freddy may be happy to just hit the market after a moves starts for his 8 trades a week but doing 20-50 trades a day on a handful of contracts - a few ticks per trade is real money.
CanOz
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Re: Scalping the DAX (SIM)
Great advice.
One thing i noticed yesterday is that when the market is moving, the consolidating, moving then consolidating its easier to look at the DOM for areas that need to be overcome, trigger areas. That's where i look for entering. Quite often these can be areas such as the opposite side of the flag, or a midpoint of a triangle (understanding you're not big on chart patterns). These areas allow an entry many ticks better off than taking the break as you say. Also you'll know soon if its not working. Again its early days here but these are just some of the basic things i noticed.
Later in the day when we were range bound, i realised in hindsight that scalping for a few points was a better play because price just kept reverting.
In any case i now totally agree, no intra-day trader should be trading without the Depth, and Time & Sales. Like i said though, without a tool to leave the prints lingering for a while, plus a few other bells and whistles i would have given up.
CanOz
Great advice.
One thing i noticed yesterday is that when the market is moving, the consolidating, moving then consolidating its easier to look at the DOM for areas that need to be overcome, trigger areas. That's where i look for entering. Quite often these can be areas such as the opposite side of the flag, or a midpoint of a triangle (understanding you're not big on chart patterns). These areas allow an entry many ticks better off than taking the break as you say. Also you'll know soon if its not working. Again its early days here but these are just some of the basic things i noticed.
Later in the day when we were range bound, i realised in hindsight that scalping for a few points was a better play because price just kept reverting.
In any case i now totally agree, no intra-day trader should be trading without the Depth, and Time & Sales. Like i said though, without a tool to leave the prints lingering for a while, plus a few other bells and whistles i would have given up.
CanOz
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Re: Scalping the DAX (SIM)
Unfortunately this is pretty much what i have been doing with forex, waiting for larger market orders to hit (or what i imagine that looks like) before entering, meaning i am in too late in the wave. Strike rate is good but R:R is a bit dodgy, less than 1:1 except for the very occasional runner.
Was hoping by trading something with DOM I could learn to get in a little earlier. I have tried other techniques like fading when momentum stops to get in earlier but my strike rate just plummets and it's hard to know when to exit (when your wrong). This technique had been no where near as effective as the above (in fact completely unprofitable)
Unfortunately this is pretty much what i have been doing with forex, waiting for larger market orders to hit (or what i imagine that looks like) before entering, meaning i am in too late in the wave. Strike rate is good but R:R is a bit dodgy, less than 1:1 except for the very occasional runner.
Was hoping by trading something with DOM I could learn to get in a little earlier. I have tried other techniques like fading when momentum stops to get in earlier but my strike rate just plummets and it's hard to know when to exit (when your wrong). This technique had been no where near as effective as the above (in fact completely unprofitable)
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Re: Scalping the DAX (SIM)
I find if i make these types of plays i just get stuck inside a consolidation for ages only to by knocked out when the consolidation breaks both ends. And my transation costs are too high to play the bid and ask until the break
I find if i make these types of plays i just get stuck inside a consolidation for ages only to by knocked out when the consolidation breaks both ends. And my transation costs are too high to play the bid and ask until the break
CanOz
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Re: Scalping the DAX (SIM)
Especially on the HSI, but its just a matter of being patient until you see a big order hit the bid or offer. Just before the HSI broke higher from 18660ish, the price came down low and 165 hit the offer, away it went for 20 points.
There were three other attempts that failed, every time it got to the top of the range an order(s) hit the bid.
CanOz
Especially on the HSI, but its just a matter of being patient until you see a big order hit the bid or offer. Just before the HSI broke higher from 18660ish, the price came down low and 165 hit the offer, away it went for 20 points.
There were three other attempts that failed, every time it got to the top of the range an order(s) hit the bid.
CanOz
CanOz
Home runs feel good, but base hits pay bills!
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CanOz
Home runs feel good, but base hits pay bills!
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Re: Scalping the DAX (SIM)
Really struggled with the size of the stop to use. At this stage if i use a 5 tick stop on the HSI i get hit too much. If i use a ten and get it it takes too many good trades to get it back. I guess the trick is to be more selective and more accurate....easier said than done..
CanOz
Really struggled with the size of the stop to use. At this stage if i use a 5 tick stop on the HSI i get hit too much. If i use a ten and get it it takes too many good trades to get it back. I guess the trick is to be more selective and more accurate....easier said than done..
CanOz
Trembling Hand
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Re: Scalping the DAX (SIM)
5 tick on the Seng
surely is only for the best of entries?? 10 to 15 seem the more sensible.
5 tick on the Seng
surely is only for the best of entries?? 10 to 15 seem the more sensible.
CanOz
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Re: Scalping the DAX (SIM)
Ahh that's great, i thought i was totally useless there for a while...LOL!
CanOz
5 tick on the Seng
Ahh that's great, i thought i was totally useless there for a while...LOL!
CanOz
CanOz
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Re: Scalping the DAX (SIM)
Here is a nice example of getting in on a pattern early with the DOM (first Pic). Of course these are all the winning setups, no sense posting the other 100 losing ones...LOL
Then i turned around and after an iceburg alert at the triangle target and the S1, sold short for a quick few points.
Having more success with the Dax though, at least i can stay even or in profit for most of the session. The Hang Seng just kills me.
CanOz
Here is a nice example of getting in on a pattern early with the DOM (first Pic). Of course these are all the winning setups, no sense posting the other 100 losing ones...LOL
Then i turned around and after an iceburg alert at the triangle target and the S1, sold short for a quick few points.
Having more success with the Dax though, at least i can stay even or in profit for most of the session. The Hang Seng just kills me.
CanOz
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CanOz
Home runs feel good, but base hits pay bills!
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Trembling Hand
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Re: Scalping the DAX (SIM)
You will get cut to bits chasing big orders. Grow some balls and hit into them ......
You will get cut to bits chasing big orders. Grow some balls and hit into them ......
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CanOz
Home runs feel good, but base hits pay bills!
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Re: Scalping the DAX (SIM)
I wasn't sure what to do when i saw it the first time but you sort of need to know how the market has been doing with selling or buying before deciding to go with it or stand aside.
I'll never be hitting into them...i'll leave that to you cowboys!:cowboy:
CanOz
I wasn't sure what to do
when i saw it the first time but you sort of need to know how the market has been doing with selling or buying before deciding to go with it or stand aside. I'll never be hitting into them...i'll leave that to you cowboys!:cowboy:
CanOz
Trembling Hand
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CanOz
Home runs feel good, but base hits pay bills!
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Re: Scalping the DAX (SIM)
CanOz
So you're playing the pop after they clean out the order book?Nah hit the sucker, works every time.
CanOz
Trembling Hand
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Re: Scalping the DAX (SIM)
That is scalping. Use the nutz that hit out to get you fills away from the mean.
That is scalping. Use the nutz that hit out to get you fills away from the mean.
CanOz
Home runs feel good, but base hits pay bills!
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Re: Scalping the DAX (SIM)
It's been an interesting week so far on the Dax, I will try and post y results for 1 week or so of sim trades. Trading only on my laptop now, with my iPad for the forum....not bad considering I came from five screens to this...LOL!
CanOz
It's been an interesting week so far on the Dax, I will try and post y results for 1 week or so of sim trades. Trading only on my laptop now, with my iPad for the forum....not bad considering I came from five screens to this...LOL!
CanOz
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