It's easy to make imaginary money scalping the Dow using a City Index demo account. Not by having access to properly live prices and capitalising on discrepancies. Just by using your bonce, usually getting in and out in 5-30 seconds, occasionally hanging around for a minute or two. Their spread on the Dow is only 1 point. It's easy on say 30 trades a day to triple your money in a year. Shame there's a catch!
The catch of course is that if you try it using a live account, you'll get put on "dealer confirm" as fast as greased lightning. You'll get slow fills when the market's against you, and slippage with your stops, and no, sorry, they won't let you walk away with lots of money for your efforts. What you make, they lose.
Not so with a DMA firm. OK so my question is: what's the best place to scalp the Dow, or indeed the FTSE? Starting with a bankroll of £20K and staking £15-£25 a point 30 times a day.
Ideally where you can open a demo account first, and where all charges and costs are totally transparent and you don't have to spend a few minutes calculating them for each trade (which would make the trading strategy impossible).
I've heard of prospreads.com, who offer some version of DMA trading in an SB wrapper. Are they any good? What spreads are available on the Dow and FTSE for scalpers using the above sort of strategy and with a bankroll, stake size, and trading rate as above? What other firms are there?
(I haven't studied the FTSE, but my strategy probably wouldn't work with a spread of more than 2 points on the Dow).
Thanks!
John
The catch of course is that if you try it using a live account, you'll get put on "dealer confirm" as fast as greased lightning. You'll get slow fills when the market's against you, and slippage with your stops, and no, sorry, they won't let you walk away with lots of money for your efforts. What you make, they lose.
Not so with a DMA firm. OK so my question is: what's the best place to scalp the Dow, or indeed the FTSE? Starting with a bankroll of £20K and staking £15-£25 a point 30 times a day.
Ideally where you can open a demo account first, and where all charges and costs are totally transparent and you don't have to spend a few minutes calculating them for each trade (which would make the trading strategy impossible).
I've heard of prospreads.com, who offer some version of DMA trading in an SB wrapper. Are they any good? What spreads are available on the Dow and FTSE for scalpers using the above sort of strategy and with a bankroll, stake size, and trading rate as above? What other firms are there?
(I haven't studied the FTSE, but my strategy probably wouldn't work with a spread of more than 2 points on the Dow).
Thanks!
John
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