Scalping

[new_trader]

Interesting thread, how do you define scalping, for me I look upon scalping as a method to grab 5 points or less in the shortest possible time allowed, it is possible and I do employ a scalping technique when I'm struggling to get my daily points limit. I S/B and have never had any problems with the companies I trade through, with the right set up, you could "scalp" your way through the day collecting 5 points a trade without any real stress, exposure is limited by the nature of the quickness of the trade, trade only in the direction of the trend, unless its just me, I find scalping very easy and profitable.

IMHO: In any market there are typically 3 trends:

1) The Immediate trend
2) The Intermediate trend
3) The Long Term trend

A scalper trades Immediate trends where profits are small but occur many times in a day. You can take 1-2 points profit with S/B but it isn't the right tool for the job. That's like saying you can hammer a nail into a bit of wood using the blunt end of an axe therfore it isn't just for chopping wood. There is a big difference between closing a trade when it is 1-2 points in profit and scalping.

 

[Dinos]

A buy limit order can be filled below the limit price, that's what a limit order is isn't it? How can you scalp with limit orders?

Sounds impossible, a "scalp" is, well for me anyway, a short term moment of opportunity as indicated by the set I use to grab a few points, (in and out), impossible to forecast where this will be, certainly by the methods I engage anyway.

 

[mp6140]

A buy limit order can be filled below the limit price, that's what a limit order is isn't it? How can you scalp with limit orders?

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sorry NT but this answer seems to be to another post of yours, but if you work like mad, often you can do a 5 pip retrace with limits !

it was a LIMIT SELL NT --- normally they never touched them, but usually once a day i would find one that went off 20 pips away from my limit price.

remember, i never leave them a sl for them to play with, and that ticks em off something huge !

what was more dastardly was they would actually CHANGE my tp point ---- id look away from the trading panel, and when looking back, it was different numbers.

guess they figured, since i usually have 8 positions open at once, that i would not notice, which i didnt for a long time --- but even this old mind catches on to being stabbed in the back after the blood makes my socks wet !

LOL

yeah, i dont know about spreadbetters ---- ROFLMAO !

mp

 

[Dinos]

IMHO: In any market there are typically 3 trends:

1) The Immediate trend
2) The Intermediate trend
3) The Long Term trend

A scalper trades Immediate trends where profits are small but occur many times in a day. You can take 1-2 points profit with S/B but it isn't the right tool for the job. That's like saying you can hammer a nail into a bit of wood using the blunt end of an axe therfore it isn't just for chopping wood. There is a big difference between closing a trade when it is 1-2 points in profit and scalping.

Disagree there, why not S/B and why 1 or 2 points, it works for me, Eg: today (non scalp trade), I went short ftse 9.00 @ 6248 and closed at 13.05 for a (+20) profit. During this time using a different S/B company, I longed and shorted the market 5 times, all for +5, gaining an additional +25 points. Whats the best method short term or scalp, for me a mixture of both, if it works trade it.

 

[Dinos]

Disagree there, why not S/B and why 1 or 2 points, it works for me, Eg: today (non scalp trade), I went short ftse 9.00 @ 6248 and closed at 13.05 for a (+20) profit. During this time using a different S/B company, I longed and shorted the market 5 times, all for +5, gaining an additional +25 points. Whats the best method short term or scalp, for me a mixture of both, if it works trade it.

IMHO Scalping can be a very profitable system, if you can regularly and consistancy acquire points, backtested to prove the system, using leverage of the SB companies, you can generate a profitable system with little exposure to the market.

 

[mp6140]

Disagree there, why not S/B and why 1 or 2 points, it works for me, Eg: today (non scalp trade), I went short ftse 9.00 @ 6248 and closed at 13.05 for a (+20) profit. During this time using a different S/B company, I longed and shorted the market 5 times, all for +5, gaining an additional +25 points. Whats the best method short term or scalp, for me a mixture of both, if it works trade it.

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i personally like, "if it moves, fondle it ?)

mp

 

[Dinos]

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i personally like, "if it moves, fondle it ?)

mp

Like it, I'll try it on the missus, hehe

 

[new_trader]

Just out of curiosity:

How many pro-spreadbetters here have a DA account as well?

Have you ever put your charts for an instrument side by side?

I ask because I am curious as to who is just giving an opinion and who is giving a verifiable fact.

 

[mp6140]

Just out of curiosity:

How many pro-spreadbetters here have a DA account as well?

Have you ever put your charts for an instrument side by side?

I ask because I am curious as to who is just giving an opinion and who is giving a verifiable fact.

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i use both NT --- at the present time my sb is ONE PIP below "real" price on LONGS and ONE PIP BELOW real price on shorts !

i have found only one spread better who was spot on with my data feeds and MB trading

mp

 

[Dinos]

Hi New trader, I have both, however I prefer S/B, for tax reasons and the ability of leverage and margin requirement, I'm not bothered about side by side charting, historically, I know S/B favours my style of trading and its tax free, why should I want to pay tax, if I don't have to, however, each to their own.

 

[fayalac]

Thanks...

I wish i where a 16 year old boy, im not, i´m a little older. The whole idea could be easily discarded as semantics, lets talk about intraday´s.
If i´m here, honestly is just because i want to learn. I´ve been dealing for a while and proven some degree of succes, anyway if you have something to share, believe me i would apreciate.

===================================================================

while the whole idea behind "reputation" points and "length of service and experience" titles for each poster is readily apparent (ie: those with MORE experience teach those with less !) one runs into these problems at times --- there will always be the 16 year old son who knows SO MUCH MORE than his father !

here in the US, there are even printed rules prohibiting what you mistakenly call scalping from happening, complete with the penalties for doing so --- the brokers, mms and sb's aint AGAINST these short term trades unless it means they lose money --- i have a ferrett that knows that for G-D's sake !

have fun with your ideas, as off the wall as they may be. I wanted to help and have a break today, but youse guys are just something else ---- rookies arguing with those with experience will not get you far in this world, but continue on and find out for yourself !

mp

 

[mp6140]

Hi New trader, I have both, however I prefer S/B, for tax reasons and the ability of leverage and margin requirement, I'm not bothered about side by side charting, historically, I know S/B favours my style of trading and its tax free, why should I want to pay tax, if I don't have to, however, each to their own.

=========================================================

knocked me over when i DIDNT get a tax statement from the sb ----while i pay no taxes to their country of origin, they do not report income to the USA either.

BUT, since i do not look good in an orange jumpsuit, with numbers on the back and manicles on my wrists, i report the income to our revenue service and pay the taxes --- better to give a little and keep a lot, then end up in jail with nothing !

mp

 

[mp6140]

I wish i where a 16 year old boy, im not, i´m a little older. The whole idea could be easily discarded as semantics, lets talk about intraday´s.
If i´m here, honestly is just because i want to learn. I´ve been dealing for a while and proven some degree of succes, anyway if you have something to share, believe me i would apreciate.

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i help people who WANT help, but i get tired if my chain is being pulled !

mp

 

[Dinos]

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knocked me over when i DIDNT get a tax statement from the sb ----while i pay no taxes to their country of origin, they do not report income to the USA either.

BUT, since i do not look good in an orange jumpsuit, with numbers on the back and manicles on my wrists, i report the income to our revenue service and pay the taxes --- better to give a little and keep a lot, then end up in jail with nothing !

mp

Hi MP

Excellent sentiments, hence why I trade both, I rather put a little through (direct access) and pay minaimal Tax & NI, and enjoy the tax free benefits of the rest, winners all rounds ( and no tax man knocking at the door" hehe

 

[grantx]

NT,

Yes, I do agree with you. Don't I always? Have faith.

Grant.

 

[new_trader]

NT,

Yes, I do agree with you. Don't I always? Have faith.

Grant.

Ok, wasn't sure. Your post was a bit ambiguous. Do you like anchovies on pizza?

 

[grantx]

NT,

No, and that post is ambiguous.

Grant.

 

[rathcoole_exile]

I wish i where a 16 year old boy,

you're only as old as the boy you feel ...........ask Grant .........................

 

[mp6140]

you're only as old as the boy you feel ...........ask Grant .........................

are you suggesting . . . . . . that grant . . . . . . . . feel . . . . . . . . boy !

NO, not on this site he wont !

mp

 

[grantx]

MP.

There's too much sordid innuend on in this thread. Don't take any notice of RC - he's jealous of my beauty and youthfulness.

I wish the OP was a sixteen year old girl, or two...better not.

(I wonder if that's fooled ' em?).

Grant.