Scalping FX with Cyrox Rainbow

[tayser]

Re: Linuxtroll simple scalping

I'm cheating a bit today

Post UK Rate announcement, I decided to have a crack, and got my minimum return in less than minutes. This is scalping!

Time Order ID Message Event TIF Orig Trader ID
23:17:51 0tq002s:0cu9-00 Buy 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.32) Filled GTC DEMO****
23:17:13 0tq002s:0cth-00 Sell Short 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.38) Filled GTC DEMO****
23:15:54 0tq002s:0cpq-00 Sell 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.14) Filled GTC DEMO****
23:15:41 0tq002s:0coy-00 Buy 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.10) Filled GTC DEMO****
23:15:11 0tq002s:0cng-00 Buy 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.21) Filled GTC DEMO****
23:13:22 0tq002s:0ckd-00 Sell Short 50000 GBP/JPY @ Market on MBTX [expiring: 6/03/2008] (50000 traded at 224.409) Filled GTC DEMO****

All up 30 pips on those three trades (minus 6 for EFX commission).

₤1GBP = $2.32AUD at time of posting, so if you need 10 pips on AUD/JPY (my base), you need to do 23 pips on GBP/JPY to get the same return if you utilise 100% of your account for margin in one trade in both instances. Done for the day!

 

[>Apocalypto<]

Re: Linuxtroll simple scalping

Well, I've finally learnt my lesson.

Oanda is simply ****house for scalping AUD/JPY (and to a lesser extent EUR/JPY). The slippage, the delays, the whole experience has put a real downer on scalper for the past week. I'm net 15% down compared with approximately roughly the same percentage up by scalping AUD/JPY on EFX whilst looking at the Oanda charts.

I'm back to demos for more time and will probably go live once again with a real EFX account after Xmas/New Years.

Tayser,

I was going to send u a pm but you just answered my question, so it's true Oanda do suck. I read a heap of reviews and users comments about them, put me right off. massive widening of spreads and huge slippage.

hmmm there really is no such thing as a cheap spread.

only thing that buggs me with EFX is the brokerage it's actually cheaper to trade the EUR/USD & AUD/USD on IG! but EFX on the other crosses wins hands down. For me right now it's a toss up between IB and EFX

BROKERS!!!!!!

 

[tayser]

Re: Linuxtroll simple scalping

I haven't had this confirmed (anyone please jump in - especially if you're an accountant ), however: paying commissions isn't all that bad, isn't the commission (from the purchase and disposal) added to your cost base of purchasing the asset for CGT purposes? i.e your tax is slightly reduced in the long run...?

 

[disarray]

Re: Linuxtroll simple scalping

onemore, thanks for the info man

for efx you have to deposit funds into an american account, so everything is happening offshore and isn't the business of the ATO. these trades are over in a day so you aren't going to be claiming holdings or anything, so the only time the ATO gets involved is when you bring the funds from the US back into australia.

i'm not an accountant so seek professional advice, but basically you send a bunch of cash offshore. if its under $10k then no one knows or cares, its your money, if its more than 10k it gets flagged by ASIC or anti-terrorist spooks or whatever but still goes through.

this money grows over however long and say your trading balance sits at 100k and you want to bring some money home, then when you wire that $90k into your home account that becomes part of your taxable income. so commission, spread loss or whatever aren't relevant for taxation purposes because all costs are already taken out of the profit.

theres a great thread on this board about the taxman at https://www.aussiestockforums.com/forums/showthread.php?t=5631&highlight=offshore

 

[>Apocalypto<]

Re: Linuxtroll simple scalping

onemore, thanks for the info man

for efx you have to deposit funds into an american account, so everything is happening offshore and isn't the business of the ATO. these trades are over in a day so you aren't going to be claiming holdings or anything, so the only time the ATO gets involved is when you bring the funds from the US back into australia.

i'm not an accountant so seek professional advice, but basically you send a bunch of cash offshore. if its under $10k then no one knows or cares, its your money, if its more than 10k it gets flagged by ASIC or anti-terrorist spooks or whatever but still goes through.

this money grows over however long and say your trading balance sits at 100k and you want to bring some money home, then when you wire that $90k into your home account that becomes part of your taxable income. so commission, spread loss or whatever aren't relevant for taxation purposes because all costs are already taken out of the profit.

theres a great thread on this board about the taxman at https://www.aussiestockforums.com/forums/showthread.php?t=5631&highlight=offshore

Cheers Disarray,

top reply.......

Mate I thought Halloween was over, what's with your creepy Avatar!

 

[tayser]

Re: Linuxtroll simple scalping

Easy money this morning...

Forgot that the US Interest rate decision was out!

07:23:41 0tv0d2s:15ha-00 Buy 960000 AUD/JPY @ Market on MBTX [expiring: 11/03/2008] (960000 traded at 96.34) Filled GTC DEMO****
07:23:26 0tv0d2s:15g8-00 Sell Short 960000 AUD/JPY @ Market on MBTX [expiring: 11/03/2008] (960000 traded at 96.40) Filled GTC DEMO****
07:21:17 0tv0d2s:15b4-00 Buy 920000 AUD/JPY @ Market on MBTX [expiring: 11/03/2008] (920000 traded at 96.551) Filled GTC DEMO****
07:18:57 0tv0d2s:153m-00 Sell Short 920000 AUD/JPY @ Market on MBTX [expiring: 11/03/2008] (920000 traded at 96.60) Filled GTC DEMO****

Finally got some kick, I'll be the first to admit, AUD/JPY has been pretty stubborn recently. GBP/JPY may have moved by 100 pips more than the AUD/JPY since the release (EUR/JPY has moved by a similar amount), but when you can buy 2.3 times the amount of AUD than GBP (or 1.6 times more AUD than EUR) - you'd have done VERY well for less work with this pair!

 

[tayser]

Re: Linuxtroll simple scalping

23 pips after EFX commission.

Using Ninja + EFX on tick chart redefines the word 'fun'.

I think I'll stick to 5 sec charts though...

 

[tayser]

Re: Linuxtroll simple scalping

I didnt trade this, but just wanted to post this pretty little chart.

Anyone want to have a crack at pointing out the entries and exits?

 

[onemore]

Re: Linuxtroll simple scalping

No,
(hindsight) ,left hand side of the chart trading.
Not good.

 

[tayser]

Re: Linuxtroll simple scalping

I do a lot of hindsight analysis because it helps recognise the patterns when you're watching them live.

No-one??

 

[onemore]

Re: Linuxtroll simple scalping

If you insist:

Long: Price break spine at time 21:48 after retracement from double bottom.

Exit: (target) at Double top at time 21:14.

to easy

 

[tayser]

Re: Linuxtroll simple scalping

What bout the rest of them? including right at the end of the chart...

 

[MS+Tradesim]

Re: Linuxtroll simple scalping

Well, I've just started playing with my version of a GMMA. If its successful I will share, if not, I'll have to try the method Tayser is using. "Why not try it first?" I hear you ask. Dunno, just have a perverse penchant to do my own thing.

 

[MS+Tradesim]

Re: Linuxtroll simple scalping

Hmmm....looks like midnight on their server time can't place orders with EFX. Guess that would make sense as that would be rollover time. Found out the hard way as went to exit a position and order kept being rejected then kept getting message "Trying to connect to order server" (or something to that effect). So small profit turned into small loss. Oh well, the joy of losing play money in coming to terms with system quirks!

 

[tayser]

Re: Linuxtroll simple scalping

yah they shut their demo and live order servers (quotes should keep streaming however) down for about 10-15 minutes around midnight NY time.

 

[nizar]

Re: Linuxtroll simple scalping

Great thread guys, thanks for sharing.

 

[tayser]

Re: Linuxtroll simple scalping

AUD/JPY is being a stubborn old beeatch tonight. Euro and Pound were flying!

[insert ARGH comment here]

 

[julius]

Re: Linuxtroll simple scalping

tayser,

Did you buy the ebook? Is it worth it?

 

[tayser]

Re: Linuxtroll simple scalping

I did yeah. If you have picked up a lot from his old FF thread or new forum, you might be a little disappointed when you read it (as the vast majority of it is freely available on the forums: you just have to look for it).

It's a good concise resource to have on hand however so yeah, I do think it is worth it.

anyhow, today:

18:15:06 0ub002s:02sb-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 27/03/2008] (100000 traded at 100.06) Filled GTC DEMO****
18:14:25 0ub002s:02rr-00 Sell Short 100000 AUD/JPY @ Market on MBTX [expiring: 27/03/2008] (100000 traded at 100.08) Filled GTC DEMO****

Think I'll leave it at 1 pip for the day... very little liquidity today (usually Paris/Frankfurt open can be just as good as London!). 1 pip is still a profit!

 

[tayser]

Re: Linuxtroll simple scalping

London's back baby! Been so bloody boring the past two weeks.

Time Order ID Message Event TIF Orig Trader ID
19:05:22 0uh152s:02aw-00 Sell 200000 AUD/JPY @ Market on MBTX [expiring: 2/04/2008] (200000 traded at 98.39) Filled GTC DEMO****
19:04:11 0uh152s:028u-00 Buy 200000 AUD/JPY @ Market on MBTX [expiring: 2/04/2008] (200000 traded at 98.32) Filled GTC DEMO****