So hypothetically what would I need to have a proper bash at this trading lark?

scose-no-doubt said:
Isn't that possibly 4 commissions for nada? Can't you rescind orders or do you get charged for that?
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2 commissions, not 4.Or one if you look at it as a round trip, as is easier. But yeah... scratching is a fact of life in short term trading game, sorry.

Doesn't cost anything to send/delete/modify an order (except for very specific circumstances that I assure you are not going to apply to you any time soon)
 
scose-no-doubt said:
Isn't that possibly 4 commissions for nada? Can't you rescind orders or do you get charged for that?
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Say you think 73s are a buy - ideally you work the bid, they trade a bit, get you filled, and you work the 74 offer for profit. If 73s go offered and 72s start trading, you need to actually work the 73 offer to scratch - the only way to get straight out is hitting the 72s which would obviously be a loss.

And yeah, you pay comms whatever your pnl.
 
Oh right. I though you were saying I'd need to put in an order to scratch before the first fill. OK makes sense.
 
P.S. If ya work out a way of doing this I'll give you the levels everyday if you ask me in chat (not that you have to be a genius to work them out) - I'm seriously interested in seeing if this can work from such a low balance
 
I think he could build up 10k in a year, starting with swissy june then moving onto other slightly-but-not-much-more volatile front months (bor non quarterlies are free money for the vaguely competent, for example, although with far more likelihood of losses) hoepfully with at least 3k by june. Not applying strictly sensible money management, but with very aggressive yet non suicidal it *is* possible.

Be a bloody interesting challenge if he can get it going, will be an epic journal.

AM, most important thing by far is round trip costs here if you are fortunate enough to get a choice of brokers. Every penny counts.
 
As far as I know Velocity and Global Futures offer the most competitive rates unless you go to a clearer or trading arcade. I see the entry-level fee for Euroswiss with Velocity is £2.30 a round-turn with CQG Trader. Could this trading style work with this set-up? I imagine its not too complicated but trying to understand... would a large number of trades be scratches and say, 30-40% 1 tick wins, 10-20% 1 tick losses?
 
I would say 70% wins, 20% scratces, 10% losers (some losers will be 2 ticks or more though) traded competently
 
arabianights said:
I would say 70% wins, 20% scratces, 10% losers (some losers will be 2 ticks or more though) traded competently
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Have never traded FI before, had a little go this morning on T-bills using your approach, seemed to work quite nicely - rather nice scalping something that slow moving! Thanks for the tip, might do some more digging in this area.

UPDATE:
6 trades, all winners. Tonight's night out in town paid for, thanks Arabian!
 
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haha, yup, in the right instrument and right conditions you can print money doing that, amazing really :LOL:
 
Jack o'Clubs said:
Have never traded FI before, had a little go this morning on T-bills using your approach, seemed to work quite nicely - rather nice scalping something that slow moving! Thanks for the tip, might do some more digging in this area.

UPDATE:
6 trades, all winners. Tonight's night out in town paid for, thanks Arabian!
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Can you show a chart with your executions? cheers
 
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