a good scalping system

hey guys

using a good scalping system?if you bought it can you please share the name with me so that i can google it.

thanks

Paulie_5 said:

A mate sent me this ages ago. It's an ebook called 'No BS Day Trading'.

There's quite a lot in there about scalping / orderbook trading. I've only ever skim-read it as I don't trade this way, but it might be what you're looking for.

Paulie

Click to expand...

I'm on page ten and it's excellent so far, thanks for the heads up bud...I owe you one...

Christiaan said:

hey guys

using a good scalping system?if you bought it can you please share the name with me so that i can google it.

thanks

Click to expand...

You may want to also contact Ben (BTippen) as he may have some good leads.
http://www.trade2win.com/knowledge/.../interview-with-us-stock-market-scalper/page2

Black Swan said:

I'm on page ten and it's excellent so far, thanks for the heads up bud...I owe you one...

Click to expand...

No problem mate

Your trading style has changed, no ? ... I remember you started off SBing 4hr/1hr, then you went dma ... then mentioned demo-ing shorter timeframes on cable - now you're thanking me for an ebook on orderbook trading ....

Next you'll be hardcore scalping

Out of interest (if I'm correct on this that is) - why do you reckon you've become more interested in shorter timeframes ? Boredom ? More experience ?

Paulie_5 said:

No problem mate

Your trading style has changed, no ? ... I remember you started off SBing 4hr/1hr, then you went dma ... then mentioned demo-ing shorter timeframes on cable - now you're thanking me for an ebook on orderbook trading ....

Next you'll be hardcore scalping

Out of interest (if I'm correct on this that is) - why do you reckon you've become more interested in shorter timeframes ? Boredom ? More experience ?

Click to expand...

LOL... TBH I've found me/my edge can easily operate on any TF. I started off on short TFs (3-5mins) and gradually moved up to 2-3HR...Not really on that short TF's nowadays, 15-30minutes/1 HR...

Mainly on dma these days, (principally fxcm), I SB oil mostly, on the longer TF's.
Really enjoyed that e-book as he dismisses forex as a trading *career* and he trades treasuries and 'stuff' like the bund...always great to read contra views on all styles/securities..

Kinda settled on 30min TFs for trade mangment (as opposed to specific entry) as I can earn a weekly wage from my pairs each week...I also found that when SB exclusively the 30mins to be v.good; mighn't be in at the 'b of the bang', but for mini swings and good/regualr profit taking they're exceptional IMHO...

Black Swan said:

I'm on page ten and it's excellent so far, thanks for the heads up bud...I owe you one...

Click to expand...

I wrote the book and while I appreciate the fact that people like it enough to suggest it to others, I don't appreciate the fact that it was posted on here for free and I let the guys who run this site know that. They took it down but way after the fact. Someone else who bought the book pointed out the link to me.

Whoever put it up should have his account deleted.

Black swan, I hope it helped. I'm starting to run webinars now. If you're interested, go to my site and send me an email and I'll send you more details.

Christiaan said:

hey guys

using a good scalping system?if you bought it can you please share the name with me so that i can google it.

thanks

Click to expand...

I think that most traders in their developing phase need to keep things very simple, and also focus on following trends. This is a path of least resistance approach to scalping the various futures markets. You should gravitate towards charts that are simple (not with 10 different indicators) and help you to make trade entry decisions with conviction (no doubts entries). You MUST imo also trade set ups that are at least 2:1 reward to risk or better. Any newer or developing trader who tries to trade scalp set ups that are only 1:1 will be engaged in an exercise of futility....LOL. Just think of the win to loss ratio you will have to maintain to have consistent profits running a 1:1 R o R system......UUGH!


Simple system, simple charts, and simple rules is a must for a developing trader who is not yet profitable on a weekly basis (net positive at the end of each week after commissions). I think the new "TrendScalping" system and site will meet this criteria for a simplistic approach and very easy to understand chart set up (with the new PROX Bars....order flow and order book resistance inputs to the colored price bars).