Nothing to something scalping system

[Bronte]

Thank you for sharing your trading TH
You are a very special person

 

[Trembling Hand]

Many have looked and claim an edge trading depth.
Frankly I just cant see it

Then its obviously not there if you carn't do it.

Did I ever say that looking at what is sitting in the order book was worth trading off???????????????

People who claim to trade off the DOM use it as incorrectly as they use TA.

T/H your very slight expectancy seems to vindicate my observations.

I would of thought you would wait for more than 2 days results to draw a conclusion.

 

[MRC & Co]

Good stuff TH.

Tech, I think depth trading is more of hitting market on the HSI, which you have to trade completely differently to the SPI IMO. It's more of a momentum market. Sometimes in SPI you can actually see institutions load up a split second before they hit market, and with concentration, fast reactions and quick execution, you can actually frontrun them and load up yourself, or simply get on the start of the move if they begin sweeping the market. I'm still trying to get a feel for what is happening in the book, but no doubt many use it.

There are definately a lot of depth traders out there, infact practically 100% of scalpers worldwide use it for the vast majority of their trading from what I hear and see.

TH, on the trades that are 5 + tick losses, are they because they gapped over your stop (not sure if this can happen with CFD's) or because you felt they were going your way and gave a bit more room to move?

 

[Trembling Hand]

Sometimes in SPI you can actually see institutions load up a split second before they hit market, and with concentration, fast reactions and quick execution, you can actually frontrun them and load up yourself, or simply get on the start of the move if they begin sweeping the market.

Or you can take the other side and flip as soon as the market whips back after one of the big boys push the market to hard.

TH, on the trades that are 5 + tick losses, are they because they gapped over your stop (not sure if this can happen with CFD's) or because you felt they were going your way and gave a bit more room to move?

No they were just the result of being swept by funny buggers past my stop. happens a couple of times a day. I'm also using a different cfd provider that I'm not use to yet. had a couple of fat fingers when I got short but thought I was long!!

 

[MRC & Co]

Or you can take the other side and flip as soon as the market whips back after one of the big boys push the market to hard.

No they were just the result of being swept by funny buggers past my stop. happens a couple of times a day.

Yeh, that too. I think that happened Monday this week.

Tell me about funny buggers today. I have stopped trading for now, being flicked 5 ticks because of this damn spread! It just withdraws way past your stop! Wish I got guaranteed a 2 tick stop!

Another thing I have found useful, is when you see an iceberg, fade once it gets a point or two past it, looks like many traders are squeezing those madmen who hit the iceberg.

 

[chops_a_must]

Why aren't you trading the actual SPI futures at the moment TH?

 

[Trembling Hand]

Why aren't you trading the actual SPI futures at the moment TH?

I am. More than the bucket shop. This is just a way to share the luv.

 

[skyQuake]

Even if its only to prove I'm an idiot.

Publish an Idiot's guide to trading then... I'd buy that

 

[chops_a_must]

I am. More than the bucket shop. This is just a way to share the luv.

Ah ok... so these are just results from the CFD index?

 

[Trembling Hand]

Publish an Idiot's guide to trading then... I'd buy that

Shouldn't you be getting coffee for the real traders in you trading room. :

 

[skyQuake]

Shouldn't you be getting coffee for the real traders in you trading room. :

Oh I got fired from that joint after all the good traders were inexplicably poisoned. Dunno what happened

Haha actually all the SPI guys are gone for now - didn't like today's price action; cant say i blame them though. Hang seng had a nice open by rest of day and spi were crap.
Hope u had good pickings today.

 

[MRC & Co]

Shouldn't you be getting coffee for the real traders in you trading room. :

ha ha ha, love the cheek!

Skys making a MOTZA on the HSI!

 

[Trembling Hand]

ha ha ha, love the cheek!

Skys making a MOTZA on the HSI!

I gotta get my bit in before all you young guns start taking $$ off me in the SPI & HSI.

 

[BentRod]

If they all go down well then I will grab my new bike and tent and go and live in Byron. Which is where I started about 8 years ago busted ar$e broke and living in a $20 tent in the bush Such is life

Love stories like this

Did you know anything about trading back then?

How did you get started in trading?

 

[korrupt_1]

freak... :

I'm really intrigued at how you take a 5pt loss when the spread is 2 points already... that means that if your entry was off by just 3 points... you'll be out of the trade in no time...

At first glance it's just amazing that you can get around 50pts in the first and last 30mins of trading... but then when I think about it... it's really very achieveable... 25pts in the first and last 15 minutes of trading is really possible...

I'll second the opinion that doing 70 odd trades will require too much concentration and effort for me... I'd rather do 5-10 trades and spent alittle more time to try to catch a good trend... but each to his own i say..

Good work nethertheless... I still have a looooong way to go yet...

 

[Broadway]

Did I ever say that looking at what is sitting in the order book was worth trading off???????????????

People who claim to trade off the DOM use it as incorrectly as they use TA.

So what in the DOM is useful? And how would you use it correctly?(without revealing setups.)

Is it movement and spread?

Or do you find the numerical values of some use?

 

[Trembling Hand]

Did you know anything about trading back then?

How did you get started in trading?

I thought I did but the time it has taken to become profitable would suggest not.

So what in the DOM is useful? And how would you use it correctly?(without revealing setups.)

Is it movement and spread?

Or do you find the numerical values of some use?

The only thing in the DOM that is of use is who is hitting the market and when. The run up today from 2:30 to 3:30 was a perfect example of someone printing the bars. People who think that a lot of sell orders sitting in the order book will cause the price to go down should notice that the opposite is more likely to happen. That 2:30 SPI run again perfect example there was at least twice as many offers than bids and we ran 50 points into it.

 

[skyQuake]

Love stories like this

Did you know anything about trading back then?

How did you get started in trading?

One day, a young lad came to me for help riding on his shiny new bike. Looking at his trading log, I took pity on him and taught the lost trader everything I knew.

:

 

[Trembling Hand]

Not a great day today. This is actually what a bad day looks like for me. And what I was talking about scalpers not having many down days because of the amount of trades. I actually had a run of 9 losses in a row. If you where trading 10 trades a day that would make for a pretty bad day. If you were a swing trader maybe a bad week. But I just keep putt putt putting away. Of course some one will say that they never have that many losses then they will tell you that they have a win/loss of 86%.

I doubled the lot size to a massive $10 per tick today. Up 15.75 points. Still getting use to a diff broker.

 

[Trembling Hand]

So first week of the Nothing to something scalping system,

Starting capital $835

P & L
Wed $370
Thur $240
Fri $158

Week ending Capital = $1603

Taking bets on where this will end. $0 or 10 gorilla's withing a couple off weeks. Any takers??