Lindsay's - Something to nothing scalping system

[prawn_86]

Great thread guys. Fantastic to see so much info being shared.

 

[BentRod]

I agree.

Great posts TH and MRC.

Lindsay...what are you using for your Sim....NT and Zen??
Does yours lag a bit too?

 

[Trembling Hand]

Great first hour for tape reading on the SPI. Right from the open, before cash open, you could see something was up and she was going down fast.

I have gone nuts today and done near on 100 trades across 3 accounts, in the first hour.

 

[BentRod]

Great first hour for tape reading on the SPI. Right from the open, before cash open, you could see something was up and she was going down fast.

I have gone nuts today and done near on 100 trades across 3 accounts, in the first hour.

Good onya buddy.
Take em to the cleaners :

 

[BentRod]

Regarding order entry/exit, how much of the time are you guys getting filled by sitting on the bid or offer as opposed to hitting into the bid and offer to get out quickly?

 

[Trembling Hand]

Regarding order entry/exit, how much of the time are you guys getting filled by sitting on the bid or offer as opposed to hitting into the bid and offer to get out quickly?

my entries are 50/50 market as apposed to working the spread.

Most exiting at profit targets are taken out by others rather then exiting 'at Market'

about 80% of stops are 'at Market'

Thats with Futs. If its CFDs then its all 'at Market' which robs you big time!!

 

[BentRod]

Thanks TH.

Makes perfect sense.

 

[MRC & Co]

Great first hour for tape reading on the SPI. Right from the open, before cash open, you could see something was up and she was going down fast.

I have gone nuts today and done near on 100 trades across 3 accounts, in the first hour.

Yeh, that was absolutely INSANE!

I did ok, then had a sticky mouse button cover my short and click me 3 long! Needless to say, that mouse is finding a trap! New one as of tomorrow. Most expensive mouse I have ever seen!

Then got chopped in the arvo when that idiot was buying up SPI while global markets were tumbling! What could have and should have been a very nice day, turned into an annoyance! Ah well, onto tomorrow.

Ended slightly red, but paid a LOT of brokerage!

 

[Trembling Hand]

Then got chopped in the arvo when that idiot was buying up SPI while global markets were tumbling! What could have and should have been a very nice day, turned into an annoyance! Ah well, onto tomorrow.

LOL thats XACTLY what I was smashing my mouse and keyboard and kicking the dog if I had one over.

It was like some nut playing/unwinding/putting on an Arb between the rest of Asia and the SPI. Prick ate a good bit of my profit.

Then by the time you figure it out and play the same game he disappeared. Bloody Tape reading

 

[MRC & Co]

LOL thats XACTLY what I was smashing my mouse and keyboard and kicking the dog if I had one over.

Then by the time you figure it out and play the same game he disappeared. Bloody Tape reading

Yep.

Same thing fukced me yesterday, I was buying buying buying when global markets were rallying, he pushed it lower, I covered at 21s, THE FUKCING LOW OF THE MOVE!!!!!!!!

My microsoft mouse cost me about a grand so far, then I came home and my xbox360 blew up after just buying two new games! Fukcin microsoft!

 

[lindsayf]

I agree.

Great posts TH and MRC.

Lindsay...what are you using for your Sim....NT and Zen??
Does yours lag a bit too?

Yep NT and Zen......there is noticable lag which I have on advice from the NT forum is something like real lag so a good thing.....but the lag is adjustable on NT if you dont like it.

....this whole thread is making me feel like reading Zen and the Art of Archery again!!......fantastic help as I try to find a niche approach that works for me...my mindset sure needed a shake up...its got it

 

[barney]

Yep NT and Zen......there is noticable lag which I have on advice from the NT forum is something like real lag so a good thing.....but the lag is adjustable on NT if you dont like it.

....this whole thread is making me feel like reading Zen and the Art of Archery again!!......fantastic help as I try to find a niche approach that works for me...my mindset sure needed a shake up...its got it

G'day Lidsay, Your thread has brought up some great advice from the "real" traders here, so well done for that....

I'm pretty sure I was where you are about 12 months ago. I'm not going to try and give actual advice cause I don't qualify for that (yet), but scalping is about the hardest gig to master of them all ... No room for error.

Try mastering a swing position before you go for the throat I reckon. You can use lower position sizes and set wider stops to accomodate for the lack of experience. I'll be crucified for this comment, but you can even afford to average down on a position if you use smaller position sizes .... That way you don't have to pick the exact top/bottom ..... Just as long as you pick the main trend. (talking mainly futs and FX)

If you like to use indicators, and you are finding them "lagging" on say a one minute chart ........ try opening a one second chart ....... might just open a few more doors for you Good luck with your quest.


LOL Just read your post above MRC ........ My "Yaha" mouse works a treat ...... Gotta love the chinese !! Understand your frustration ..........

 

[lindsayf]

Been a long haul from there (when I started this thread) to here...have spent a couple of thousand hours simming, reading about markets, simming, using market replay, analysing results, changing and developing systems, changing instruments, reducing risk, reducing short to medium term expectations , focussing on money management and now have got to a poitn where my approach is totally different to where it was. I have got to a point now where I have been profitable(simming) for 2 consequitve months on 2 seperate systems..one a forex system using daily and weekly charts and one a 200 tick futures system using(surprisingly) some very similar methods. And last week I went live on both..really to just confirm that everything is working as it should..and it is...and have started with a couple of profitable trades which is a nice way to start my live trading but I sure know that it is the long haul that counts! So as from June 2009 I am operational.

I was initally very interested in scalping (ala TH / MRC) but have found that it is not for me and my systems are now based on waiting for very specific setups to occur. ASF has been a big help in my progress to this point, I am a bit of a lurker but the learning I have garnered from here has been great. Thanks to ASF contributors!

Now can we please change the name of this thread??

L

 

[mazzatelli1000]

Been a long haul from there (when I started this thread) to here...have spent a couple of thousand hours simming, reading about markets, simming, using market replay, analysing results, changing and developing systems, changing instruments, reducing risk, reducing short to medium term expectations , focussing on money management and now have got to a poitn where my approach is totally different to where it was. I have got to a point now where I have been profitable(simming) for 2 consequitve months on 2 seperate systems..one a forex system using daily and weekly charts and one a 200 tick futures system using(surprisingly) some very similar methods. And last week I went live on both..really to just confirm that everything is working as it should..and it is...and have started with a couple of profitable trades which is a nice way to start my live trading but I sure know that it is the long haul that counts! So as from June 2009 I am operational.

I was initally very interested in scalping (ala TH / MRC) but have found that it is not for me and my systems are now based on waiting for very specific setups to occur. ASF has been a big help in my progress to this point, I am a bit of a lurker but the learning I have garnered from here has been great. Thanks to ASF contributors!

Now can we please change the name of this thread??

L

Cool congratulations!!!
Funny how earlier today there was talk about finding niches and developing abilities there. Good luck to you, and may your continued efforts be rewarded!!