Ftse Professional Scalping

2George

Active member
Nov 30, 2005
144
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Shropshire
#46
Aspire

It depends on what scalping system you use for SB. If you are happy with 2 or 3 points/pips then indeed the SB format is not for you.
A lot of the comments I see are to do with people's perception of how they understand scalping - or reversals - or swings, in relation to their own system.
If you are looking for big scalps with your system then SB will work but if your system is based on a succession of smaller scalps then it may not work.
Whatever you use all the good guys wish you success - and avoid the bad language please!:)
George
 

nine

Well-known member
Sep 5, 2003
2,038
506
123
#47
You are describing what I do 2George and its not really scalping --- its micro-swing trading.
 

2George

Active member
Nov 30, 2005
144
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28
Shropshire
#48
Nine

Agreed completely. It is down to the degree and the intention. The intention of course changes as the chart changes. I look for big moves but accept what I am dealt.
George
'Trade what you see and not what your hear or hope.'
You are describing what I do 2George and its not really scalping --- its micro-swing trading.
 

new_trader

Well-known member
Jan 1, 2006
6,166
1,253
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#49
It depends on what scalping system you use for SB. If you are happy with 2 or 3 points/pips then indeed the SB format is not for you.
A lot of the comments I see are to do with people's perception of how they understand scalping - or reversals - or swings, in relation to their own system.
If you are looking for big scalps with your system then SB will work but if your system is based on a succession of smaller scalps then it may not work.
Whatever you use all the good guys wish you success - and avoid the bad language please!:)
George

This is what bothers me about people who talk about scalping. Scalping is not defined by the number of points you make on a trade! Do you see or do you not see? Scalping is defined by seeing and understanding the opportunity to go with the immediate trend which usually yields 2-3 points profit...IMMEDIATELY with very tight STOPS. It is not a 'system' where you close a trade when you have 2-3 points profit but use a wide stop.

You venture (risk) 1 point to make 1 or 2 points and sometimes more. You cannot do this S/B. You CAN-NOT.

Do you see or do you not see?
 

2George

Active member
Nov 30, 2005
144
10
28
Shropshire
#50
No argument

No argument from me if that is your intention to risk one to get two.
It is impossible to beat the SB broker using this definition and intention.
The spread would beat us all from the outset!
My preferred definition of scalping is to find the weak spot in the chart and trade it but we all 'see' charts in a slightly differing manner so that is why I use oscillators to help.
I never go into a trade looking for and amount, only looking for a profit.
George
“Trade what you see and not what you hear or hope.”
This is what bothers me about people who talk about scalping. Scalping is not defined by the number of points you make on a trade! Do you see or do you not see? Scalping is defined by seeing and understanding the opportunity to go with the immediate trend which usually yields 2-3 points profit...IMMEDIATELY with very tight STOPS. It is not a 'system' where you close a trade when you have 2-3 points profit but use a wide stop.

You venture (risk) 1 point to make 1 or 2 points and sometimes more. You cannot do this S/B. You CAN-NOT.

Do you see or do you not see?
 

2George

Active member
Nov 30, 2005
144
10
28
Shropshire
#52
I hope you succeed

I certainly was serious and hope what I sent you will help you succeed.
Good Luck
George
I scalp the FTSE moderately successfully (average 5pts) a day over the last couple of years. I'm highly skeptical of posts such as this but I'm always eager to learn - George if you're serious - let me know what value you think you could add to my trading.
mark
 

Aspire

Active member
Apr 16, 2008
171
60
38
#53
Hi George,

Am not interested in opening a spread betting account or trading your money for you, but I too would be very interested to see anything that could improve my trading and would apreciate your help as well if you wouldn't mind?
 

2George

Active member
Nov 30, 2005
144
10
28
Shropshire
#54
Long

I would need to see how you traded, the timeframes, the type of trading (trend/swing/scalp/reversal etc) and then give suggestions as to where your system could be improved.
I would normally help via a PM and private email as no 2 traders trade the same way but unfortunately I will be away until the middle of June so if you can wait, then PM with your details and email address.
George
Hi George,

Am not interested in opening a spread betting account or trading your money for you, but I too would be very interested to see anything that could improve my trading and would apreciate your help as well if you wouldn't mind?
 

Aspire

Active member
Apr 16, 2008
171
60
38
#55
Hi George. Thanks for your reply.

I currently scalp for a living. My style is relies on having the fastest execution speeds and lowest commissions and so is obviously different from what you are doing as it couldn't be done via spread betting.

I wasn't so much looking for your help with what I currently do as hoping that you had something that you could send or post here that would improve my overall knowledge/abilities/understanding and could expand my trading/ money making repetoire.

I very much appreciate you offering more in depth help but I don't want you to go to that much effort for me, I was just hoping you might be able to simply post here or send me some good, helpful info.

Aspire
 

2George

Active member
Nov 30, 2005
144
10
28
Shropshire
#56
Learning

Learning something new always interrupts trading and if you are already successful do not change it. I’m afraid that general information is only of general use so I apologise in advance.
I look for bigger scalps than the normal scalper. 1 or 2 pips/points profit is unacceptable to me although I take them if the trade has turned against me. The way that I do this is to use 2 or 3 momentum indicators in combination with trendlines, resistance over red and support under green, ignoring all spikes. Moving averages are something I only use to show me where I am in a new trend, but primarily trendlines and momentum indicators amended specifically to the timeframe you trade.
However, my suggestions have a qualification; do not assume you know how to use a momentum indicator as they have differing benefits. Between them they all give three great signals – support and resistance, divergence and they predict the beginnings and ends of trends.
Good luck.
George
“Trade what you see and not what you hear or hope.”

Hi George. Thanks for your reply.

I currently scalp for a living. My style is relies on having the fastest execution speeds and lowest commissions and so is obviously different from what you are doing as it couldn't be done via spread betting.

I wasn't so much looking for your help with what I currently do as hoping that you had something that you could send or post here that would improve my overall knowledge/abilities/understanding and could expand my trading/ money making repetoire.

I very much appreciate you offering more in depth help but I don't want you to go to that much effort for me, I was just hoping you might be able to simply post here or send me some good, helpful info.

Aspire
 

Aspire

Active member
Apr 16, 2008
171
60
38
#57
I wasn't going to change what I do now, but the markets are always changing and I think it is important to always strive to improve,learn as much as possible and expand your trading horizons and general awareness.

Yes, you're right the information was a bit too general, but interesting non the less so thanks.

If you've got a system/style of trading that you're happy to share then perhaps you could start a thread on these boards teaching and discussing it in a similar way that Trader_Dante has with his Pin Bars? I'm sure that there are plenty of people here who would appreciate it.

I have, of course, done my homework on all the indicators etc but have always been sceptical about their application. I don't use them myself but try not to be so arrogant as to close my mind to them if others say they can make money using them, and so would be very interested in following such a thread, especially as we are talking about the market that I stare at all day everyday.
 

2George

Active member
Nov 30, 2005
144
10
28
Shropshire
#58
Good luck. It is unlikely I’ll make a new thread in the future. These threads are very time consuming because I take helping people so seriously. I’m retired, need to spend more time with my wife and want to play golf in the sun, enjoy my grandchildren, family and friends.
However, I’ll never say never.
George

I wasn't going to change what I do now, but the markets are always changing and I think it is important to always strive to improve,learn as much as possible and expand your trading horizons and general awareness.

Yes, you're right the information was a bit too general, but interesting non the less so thanks.

If you've got a system/style of trading that you're happy to share then perhaps you could start a thread on these boards teaching and discussing it in a similar way that Trader_Dante has with his Pin Bars? I'm sure that there are plenty of people here who would appreciate it.

I have, of course, done my homework on all the indicators etc but have always been sceptical about their application. I don't use them myself but try not to be so arrogant as to close my mind to them if others say they can make money using them, and so would be very interested in following such a thread, especially as we are talking about the market that I stare at all day everyday.
 
Feb 9, 2008
6
0
11
#59
2George, I agree with the others on here that are not negative or causing trouble, or getting into the old lame argument about price and indicators, tools and so on. If these traders can't be successful trading by simple indicators that use mathmatical calculations then why would they do well trading by price, it all lags to some extent, we are not in the trading pits here! And NO, you're not price so get over it. cryten is right. If Fibonacci works for you then good for you, it works for me too but I don't go blazing every forum about how all indicators are evil. Hey, why not ignore the fact that Tools and Fibonacci can and is made into good indicators while you're at it. Indicators were not designed to trade for you or make any decisions for you.

2George, I am not sure about you sharing this trade method of yours with others, or me. I would like to learn your trade style and see if it worked for me, I can use MT4 and trade commodities or other markets with no spread at all, it is mostly forex brokers apply spread to.

If you want please forward some details to me, I do not have the time to learn a great deal as much as I had a few weeks ago because I am busy developing and testing trade strategies with a private group. I will put as much of my free time into this though if you decide to send me information via email.