Nothing to something scalping system

[beamstas]

Joke

Yeah hes put up 1min bars and squashed the candles closer together

Still looks funny tho :

 

[skyQuake]

Lift yer game sonny and quit slacking off! :



Are you trading through ninjatrader? Hows the latency on that?

 

[Trembling Hand]

Lift yer game sonny and quit slacking off! :

Guess who hit their daily stop and when ?

Are you trading through ninjatrader? Hows the latency on that?

Terrible!! Its through IBs book trader (TWS), just stats and charting with NT.

You pretty much have to anticipate moves to get good fills. Sucks, Spent two weeks in Honkers trading and the diff was amazing. Made me start to look at real estate there. Days like the last 2 makes me think about it again.

Joke

that was only about 250 trades over 2 days. infact not even that for trades that had more than 1 contract. So each trade could have 6 markers on the chart.

 

[Mr J]

125 over two days is slow - I haven't even made a trade today . I'd prefer a hardcore hour over this nothingness. I keep checking to see whether my charts are on. First I dumped my against the trend trades (break-even), and lately just going with markets when they're moving. There's nothing. SPI is asleep as usual, STW is bouncing in ever decreasing ranges, the currencies are asleep; sadly I didn't have the MHI up, and I could use a bigger balance before trading the K200. k200 marching north, but I couldn't have justified getting on without a pullback to buy into.

 

[dazers]

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.

Fair enough then. But when volatility reurns,

Where would be the cheapest way of accessing DOM info for the SPI? Is there any info vendor or broker (aussie or not) that requires a low minimun opening balance that will provide this?

 

[MRC & Co]

125 over two days is slow - I haven't even made a trade today . I'd prefer a hardcore hour over this nothingness. I keep checking to see whether my charts are on. First I dumped my against the trend trades (break-even), and lately just going with markets when they're moving. There's nothing. SPI is asleep as usual, STW is bouncing in ever decreasing ranges, the currencies are asleep; sadly I didn't have the MHI up, and I could use a bigger balance before trading the K200. k200 marching north, but I couldn't have justified getting on without a pullback to buy into.

I feel your pain brother.

I am changing timezones (don't like HSI, too choppy and at this point, don't have fast connection to KOSPI). SPI close is even dead sometimes now, though when it's good, it's good, like today, easy money (assuming you purely DOM trade the close)!

 

[beamstas]

Fair enough then. But when volatility reurns,

Where would be the cheapest way of accessing DOM info for the SPI? Is there any info vendor or broker (aussie or not) that requires a low minimun opening balance that will provide this?

If you are scalping the SPI off the DOM the last thing you should be worrying about is a minimum opening balance? Im pretty sure that'd be the last thing on most scalpers minds!

 

[Mr J]

I feel your pain brother.

I am changing timezones (don't like HSI, too choppy and at this point, don't have fast connection to KOSPI). SPI close is even dead sometimes now, though when it's good, it's good, like today, easy money (assuming you purely DOM trade the close)!

No DOM trading for me . I would pay attention to it, but it would be like trying to learn French by standing on a street in Paris. I lost my strategy trading the SPI. I let many small profits turn into small losses while trying to catch the larger moves. I imagine this was overcompensating for a habit of not letting 'winners' run, and for the occasional SPI 2pt spread.

 

[Aussiest]

There's nothing. SPI is asleep as usual, k200 marching north, but I couldn't have justified getting on without a pullback to buy into.

Really? Going by IG Markets (don't know how reliable it is), the SPI has moved from 3780ish to 3870ish in two days. Reckon there might be a pullback soon, Wall St Cash is looking a bit down.

 

[Mr J]

Much of that was overnight, which isn't useful to me. The timescale I was watching also didn't seem to have nice pullbacks to get into. I've dumped that timescale now, it just wasn't productive enough. Back to my 30 sec to 10 minute trades (or more if I luck on to a good one).

 

[Mr J]

TH, what was your average tick/s per trade stat at the end of this sample?

 

[Trembling Hand]

TH, what was your average tick/s per trade stat at the end of this sample?

It was actually flat after brokerage for the two days. So about 1 tick + per trade per contract. (rest of the month a bit better)

First day I got stopped out (and stacks of round trips so stacks of brokerage!!), second day was positive but only made up for the bad days losses and brokerage

For June it looks to be pretty thin profit per trade per contract. Have now all but stopped trading the SPI and gone nearly 100% HSI this month. So still making some sh!tty mistakes, like the day i got stopped out which was the first bit of that chart. But still profitable for the month so i'll take that I guess to close out the fin year. And what a year .

 

[Mr J]

B/E after placing a couple hundred trades in a couple of days takes skill damn it!

 

[Zak]

Hi Trembling Hand, I have read this thread with great interest. I was just wondering why you scalped using CFD providers instead of a direct futures account, where you do most of your trades. What if any advantage do you get from the CFD accounts. Does your system of scalping work on currency?

Thanks

Brad

 

[Trembling Hand]

Brad the reason I was using CFDs was because the accounts I was trading were not mine. I was helping some friends build up some capital. There is one big advantage with trading volume with CFDs in that you aren't actually effecting the market so there is no slippage. But really that 2 point spread is a disadvantage.

As for my "system" it will work with any trading instrument given enough volatility.

 

[moXJO]

Brad the reason I was using CFDs was because the accounts I was trading were not mine. I was helping some friends build up some capital.

.

Hey TH I need a New Mitsubishi triton or Toyota hilux, but am to stingy to use my capital base. Can you turn my $1000 bucks into $50k too?

 

[skc]

As for my "system" it will work with any trading instrument given enough volatility.

So you can do the same with forex? I thought you need to watch the DOM.

Hey TH I need a New Mitsubishi triton or Toyota hilux, but am to stingy to use my capital base. Can you turn my $1000 bucks into $50k too?

Keep your day job and don't try to become a comedian.

 

[Trembling Hand]

So you can do the same with forex? I thought you need to watch the DOM.

You can watch an FX DOM, both futs & ECN.

 

[moXJO]

Keep your day job and don't try to become a comedian.

Whoa who said I was joking:frown:

TH do you mainly trade the index futures now (primarily the HSI). Or trade whatever has shown to have good volatility?
How tight are the stops you use?

 

[Trembling Hand]

TH do you mainly trade the index futures now (primarily the HSI). Or trade whatever has shown to have good volatility?
How tight are the stops you use?

Yep 90% HSI or HHI. Stops depend on the type of trade and the market minute to minute. No point having a 7 tick stop on the open of the HSI where the average 1 minute range is 30 ticks but then its no good having a 20 tick stop during range bound midday market cause your avg winners are only going to be 20 ticks at best.