Australian (ASX) Stock Market Forum

Nothing to something scalping system

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Trembling Hand said:
Not true. The muppets claim that I have no edge. If its anything its simple trade management, that is really tight stops and trail them if I luck out with a winner.

I would like to see anyone who can enter approx 500 times and average close to no adverse move without a HUGE edge. Not just a stop. We aren't talking 2 ATR stops here we are talking less than a tick loss per trade that goes against you including spread/brokerage etc.

And then getting better than 50% winners and make a huge % return. But the muppets will not accept that nor comment on it because they have their agenda and it hurts them too much to even think let alone acknowledge.
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Apples and oranges. That is your edge. Just pointing out that those who have larger losses than brokerage aren't necessarily bad traders either.

BTW I am not discrediting your method whatsoever. My key development area is spending more time/practice focusing on how the market moves (in a variety of scenarios).
 
This should probably be a personal message to TH, but what the heck, someone else may benefit from me putting it out there.

TH, I don't mind saying that I have much to learn from you. I'm increasingly frustrated with my trading - think I'm onto a winning strategy, just to see it all slip away time and time again. I'm a very active trader by nature (like you) but my equity curve is on life support (again). Lately, everytime I go to the table I give money back. Whilst I haven't lost a fortune due to better risk management learnt from Nick R, my equity is still going south.

As distasteful as the term is to me, I have to start considering the possibility that I might actually be a gambler - not a trader. I have given my best since 2004 trying to get ahead in trading. But it's really not working. So I'm starting to reach out to those who are actually making a living from trading (full timers only) for some real guidance, heck maybe even mentoring.

What I've always tried to do is to have a three pronged trading strategy.
a) Short term (scalping) - for my daily bread/ pay the bills etc
b) Mid term for 3-6 months for some larger cash injections
c) Sleeper strategy. Very long term, wait and see approach with penny stocks/ IPO etc

You've obviously nailed the first point so some questions for you if you would be so kind.

1. What platform/broker do you use for your CFD scalping? I suspect its IB like a lot of others here. It won't change my world, just curious.

2. In your CFD scalping, what exactly do you target that gives you the 2 pip spread? Different brokers name the same instruments differently, as you know. So what exactly is it called in your platform? Or do you use a few?

3. How have you been going with this lately? This thread seems to have gone a bit quiet.

Thanks in advance :)
 
bullbear, you should be able to tell that TH dropped off in profitability big time around his last 3 posts. His whole tone changed. It's like reading tape.

Still one of the best threads on this forum, and I'm going to go over it with a fine toothed comb one day soon and start a new thread on it.
 
Gringotts Bank said:
bullbear, you should be able to tell that TH dropped off in profitability big time around his last 3 posts. His whole tone changed. It's like reading tape.

Still one of the best threads on this forum, and I'm going to go over it with a fine toothed comb one day soon and start a new thread on it.
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Gringotts,

This thread was done as an example of what is possible by a very good trader but to clear up some points.

TH doesn't normally trade CFD's - he trades the proper futures markets through a broker like IB. After the last day's profit he posted up as far as I know he did not trade that CFD account again because the CFD provider froze him out.

Quite a few people seem to have problems differentiating between a CFD provider and a broker like IB that provides access to the actual futures markets. TH was only trading that account on the side, not as part of his normal daily trading activities.

I can also assure you his profitability did not drop off around his last 3 posts, I do know that he was trading his normal account as per usual.
 
Also, when CFD providers start losing too much, they widen spreads on certain accounts, hence why no more could be made using this system on this account
 
prawn_86 said:
Also, when CFD providers start losing too much, they widen spreads on certain accounts, hence why no more could be made using this system on this account
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They also delay your orders getting through their system which means when scalping like this your orders do not go through and you get continual re-quotes or messages saying this price is no longer available.
 
nomore4s said:
They also delay your orders getting through their system which means when scalping like this your orders do not go through and you get continual re-quotes or messages saying this price is no longer available.
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Looks like you're with IG :)

They used to be coool
 
Hey Trembling Hand, or anyone else who uses IB to trade SPI, how do you combat the order confirmation they do now? Not having single click dealing really kills scalping, I dont want to have to get TT and pay an extra grand a month to use their ladder, surely there is some way around this? any help would be much appreciated
 
amb005 said:
Hey Trembling Hand, or anyone else who uses IB to trade SPI, how do you combat the order confirmation they do now? Not having single click dealing really kills scalping, I dont want to have to get TT and pay an extra grand a month to use their ladder, surely there is some way around this? any help would be much appreciated
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I don't scalp because I only trade options, but try arming booktrader (look in the top rh side), then when then order confirmation comes up (after placing order) check the "do not display message again" box.
 
cutz said:
I don't scalp because I only trade options, but try arming booktrader (look in the top rh side), then when then order confirmation comes up (after placing order) check the "do not display message again" box.
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IB no longer provide the 'Armed' tick box on the booktrader screen. When placing orders via Booktrader a popup appears asking you to confirm the order. There's no way to override this function, which is bad news for scalpers. For FX you can use the FX Trader screen for direct orders to market. There's also no point rolling back to a previous 'TWS' version, as they won't be supported for much longer.
I spoke to IB, their reply is that it's due to regulatory changes and therefore a legal issue. If I was still trading the SPI I'd be looking elsewhere!
 
nielsend said:
I spoke to IB, their reply is that it's due to regulatory changes and therefore a legal issue. If I was still trading the SPI I'd be looking elsewhere!
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Its not IBs fault. TT holds the patent for 1 click trading in the price ladder and are forcing every company to pay either 0.10 USD per side or don't use their patent.

Lucky IB got away with it for as long as they did.
 
Using Booktrader hotkeys still executes 'one click'...

(...hope i do not regret for posting this.)
 
Trembling Hand said:
I have completely given up on it for the following reasons,

1. SPI volatility has dried up.
2. CFD providers will not let you get any volume anymore. (So its a waste of time)
3. I'm concentrating on other Asian index futs where the size is close to unlimited :) the swings are many and the scalping is worth the effort.


But I want to make this clear because I have been contacted by a few newbies. As the SPI stands now with low volatility and a low amount of intraday swings its not the index to scalp. Certainly not with CFDs.

And I would say that just about rules out any scalping with CFDs in any market. As spreads on all other instruments are just to wide to get over jobbing along all day.

DON"T DO IT.
Click to expand...

Just want to bumb this post from 3 years ago. :rolleyes:
 
Steve C said:
This is some really great stuff - trembling hand are you still using this system?
Click to expand...

I have completely given up on it for the following reasons,

1. SPI volatility has dried up.
2. CFD providers will not let you get any volume anymore. (So its a waste of time)
3. I'm concentrating on other Asian index futs where the size is close to unlimited the swings are many and the scalping is worth the effort.
Click to expand...

CanOz
 

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