Nothing to something scalping system

[BentRod]

What odds you giving ??

 

[Broadway]

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??

If your're increasing contracts with capital base, then by next weekend.

The Dom seems like the tool the pros use to push the public around, to get contracts they need before the next move in price.

I find the spi DOM interesting around 10 am. It goes quiet at around 0959, as if the MM is waiting for a vital piece of info. Then at 10, I guess as bhp and parts of asia opens, it gets chaotic. This morning there was a '72' in the bid ladder, which lead to a run up. Other mornings a high number at 10am can be a trap, as the pros use it to gain contracts they need for a move the other way.

Figuring this stuff out is like playing chess against a grandmaster, except there's no chess rule book available.

 

[skyQuake]

No MM in SPI, also i can safely say that 72 lot was not a spoof.

 

[finnsk]

T/H did you start with SPI or with shares when ventured into the world of trading?
I find your way of trading intriguing(spelling??)

 

[korrupt_1]

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??

Averaging 50pts per day so far... betting with $5 contracts... average $250/day... or $1250/wk

at this rate, your 10 gorillas in 8 weeks... however, i think you'll be compounding a little, so i give you 5-7 weeks for your gorillas...

I think with your positive expectancy... there's no way in hell you'll end up with $0.... or I am a banana...

 

[Wysiwyg]

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...

Exactly.Psychologically challenging to have the discipline and patients to do this.For mine it would be hard to have equal bullish and bearish bias.I tried swing trades (forex and stock indices)with lower trade frequency and started to exhibit delusions of grandeur coupled with depression and carpal tunnel syndrome.:

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..

Sleep well my friend.

 

[RobinHood]

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

10 gorillas if you don't get shutdown b4

 

[BentRod]

PS....They are Germans not Gorillas.

FFS :

 

[MRC & Co]

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

ha ha, hardly! That wil be the day!

Korrupt, thing is, with scalping, it is generally easier to tell what will happen the next few seconds. So if it doesn't happen, why would you need anything wider than a 1-4 tick stop, unless you are trying to catch a huge momentum run where you should maybe widen your stop a bit so you don't get flicked out. To get on these runs, you are going to have to go for a few, which will mean you will be stopped out on some, but when you get on them and load up, you will make up a STACK! If you want to scalp, expect at least 40+ trades per day, and that is the very least.

 

[lesm]

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?

Try googling 'video (trading) dom tape reading'.

James Lee (soultrader) has some videos on his site (traderslaboratory). There area range of videos on youtube and other trading sites, including other sources, which cover this.

No real rocket science, but as TH has mentioned previously requires time and effort (screen time) learning how to use and apply it effectively.

 

[Trembling Hand]

T/H did you start with SPI or with shares when ventured into the world of trading?
I find your way of trading intriguing(spelling??)

Shares, warrants, options, FX..... tried the lot.

now 98% futs(or linked cfds). Best thing as far as cost per round trip and spread.

 

[awg]

Hi TH,
A couple of questions, I'm sure that i am not the first.

A) If the systems you have developed are so profitable, what is the effect of larger position size on your expectancy?

B) If you are able to consistently generate such margins, why dont you take other people on as investors and charge 20% of the profit (for example)

I know that you cant set up your own hedge fund without a lot of hassle and paperwork, but as you have alluded to in the past, I believe you may have had some involvement with proprietry operations.

In the current situation, it would seem that your systems are more favourably aligned with profit making than most others. If what you show is correct ( and i have no reason to doubt that it is), then you are in a position to call the shots.

I suspect scalping is not so amenable to large position sizes, but i could be completely wrong.

good luck to you in your endeavours

 

[Trembling Hand]

A) If the systems you have developed are so profitable, what is the effect of larger position size on your expectancy?

You will see as far as CFD providers go and volume, they will close this account down once I get over $50-$75 per tick. As far as the Futs my system is a little different. I scale in and scale out of trades, with the cfds its in or out. I have done this with up to $250 per tick but normally run at $75 to $125 per tick. The Spi handles this with ease and its one of the thinnest markets going. Take the same technique to the K200, DAX or the US futs and ..........

B) If you are able to consistently generate such margins, why dont you take other people on as investors and charge 20% of the profit (for example)

20% Try 60%!!!:

I suspect scalping is not so amenable to large position sizes, but i could be completely wrong.

Yes you are wrong . As MR C & C, Sky Quake will be able to explain. You take 100 points per day on 10 to 20 contracts it's in a league that is beyond what most can comprehend.

If I don't make a complete tosser of myself doing this I will come back and show the same with the futs.......... one day

 

[el caballo]

TH,

Why are you so definitive that they will shut the account down at that level of trading?

 

[Trembling Hand]

Because they always do.

Some providers will not even let me open an account.

 

[skyQuake]

Because they always do.

Some providers will not even let me open an account.

"Don't ever come here to trade. We don't take your business Mr Livingston"

Bucket shops

 

[MRC & Co]

Yes you are wrong . As MR C & C, Sky Quake will be able to explain. You take 100 points per day on 10 to 20 contracts it's in a league that is beyond what most can comprehend.

Yes, and to think some can even move 70 lots in the big volume times on the SPI

Now that is beyond my comprehension!

But definatley, on big volatility days with size, you can take incredible amounts out of the SPI, just shaving off the edges of the 'paper' moves.

 

[experttipps]

hi TH
thanks for posting on your scalping system. i'm wearing L plates and practising with a trial CFD account and i will be watching this thread as your your system sounds kinda similar to what i want to do.

Just to clarify - you are using a SPI futures CFD - not just an index CFD ? and can you tell me which provider you use? I am using GFT but want to try others if they have a trial account.

cheers
ET

 

[MRC & Co]

I scale in and scale out of trades, with the cfds its in or out.

Yeh, I found this is absolutely instrumental!

I have been only trading 1 contract, but scale into big moves upto 6 contracts (when I feel they are coming) and then scale out of it if it moves my way (instantly if it doesn't) and leave the last 1-2 to run it out should the momentum continue. At least then you bank your profits already with the first few contracts. Seems to suit me, cause I get jumpy and feel like banking profits early all the time, this way I can do that but also give it room to catch bigger moves which I find very hard psychologically to do with just 1 contract.

 

[Trembling Hand]

Just to clarify - you are using a SPI futures CFD - not just an index CFD ? and can you tell me which provider you use? I am using GFT but want to try others if they have a trial account.

Your index cfd is linked to the SPI not the XJO. It carn't be linked to the XJO index. One provider does run an algorithm on all the bids in the ASX200 for their quotes but you can't do it on the XJO.

I don't want to tell yet which provider I'm using for this account. It doesn't really matter. They are all the same.

Yeh, I found this is absolutely instrumental!

Yeah your right. If you are trading 1 contract its very hard because as soon as you book the profit you then have to find another trade. With 3 or more you can take one quickly let the other go at 8-10 and trail a stop for the last one to get the odd really big winner.