Make millions trading the financial markets

[Skill Leverage]

Here is a sure-fire way to make millions trading; you'll have to be quick mind:

Step 1: Get limits of about 200 in Bund futures
Step 2: Buy 122.76
Step 3: Sell 122.78

Repeat until Trichet says something tantalising yet non-committal.

 

[Skill Leverage]

See attached file for details; obviously I'm too much of a pussy to run trades, so I bail out early in most of them.

Funnily enough at almost exactly the time I wrote this message it moved up a notch. Hence why you don't short the 78s... no point being greedy.

Lots of love,

Mayor Shagbag

 

[Albert Carey]

"Step 1: Get limits of about 200 in Bund futures

?

 

[Skill Leverage]

Never mind mate, was just an attempt at some trading-related fun during the dullness that was the bund until the afternoon. Should have remembered this was T2W though, we don't really discuss actually trading the markets here..

 

[Rossini]

Never mind mate, was just an attempt at some trading-related fun during the dullness that was the bund until the afternoon. Should have remembered this was T2W though, we don't really discuss actually trading the markets here..

lol

 

[Technically Fundamental]

How much do you get from that move on a one lot in the market? (as opposed to retail measures?)

 

[Skill Leverage]

tick value is 10 Euros mate

 

[Skill Leverage]

Day in the Life of a Scalper

For anyone who's interested, this is what a typical day will look like, in terms of fills. Not done too many RTs today, usual range is 150 - 400. Each of those costs me 78 Euro cents.

Hope you all had a good day trading, if anyone is actually interested in discussing scalping, or anything actually to do with the nuts and bolts of being a local, I'm all ears.

SL

 

[gooseman]

what are your criteria for getting in and out? sit on bids and offers and hope it doesn't trade through?

 

[Technically Fundamental]

Whats % win rate and av life of a scalper in your place?

 

[N Rothschild]

being a local? rofl.

 

[dilesh23]

You need to be whacking on the full 12 if you wanna be making any dough after the split / tax/ rts

 

[Skill Leverage]

Local, yes, that's what we are.

Nah Gooseman, leaning on size is not a +EV way to trade I'd say; firstly because the Bund has thickened up a great deal in the past few months, so you don't get those standout prices much any more, secondly because there are a few people who like to play games with those sort of traders. I'm much more interested in volumes traded, and looking at how aggressively bids/offers are reloaded, as well as trading standard support/resistance levels over very short ranges (in most cases). There are a lot of other intangibles obviously, but that would be a good start.

Win % for me in trades runs at about 83%. Average life, hard to say really - the hardest part of this game is the first year I'd say, so anyone who makes it through that tends to do well.

 

[Skill Leverage]

You need to be whacking on the full 12 if you wanna be making any dough after the split / tax/ rts

12? I've got 20 mate And I do use them from time to time, but on a day like today things can get very whippy, and with more than, say, 6 lots your P&L can start to swing wildly.

I'll take 500 quid after tax and splits, any day!

 

[N Rothschild]

you work at a prop shop, how is that being a local? a local is a a pit trader.

 

[gooseman]

you work at a prop shop, how is that being a local? a local is a a pit trader.

no it isn't

 

[Skill Leverage]

Obviously it would be better to just sell the high and hold it, rather than sell .02s, buy back .99s and then sell .96s - that's not the nature of how I trade though. Sometimes I will let something run, and if I've got, say, 10 lots in, I'll let 1 or 2 go to see if we get some momentum. But, for the most part, I'm in and out all the way up and all the way down.

 

[Skill Leverage]

you work at a prop shop, how is that being a local? a local is a a pit trader.

No, a local is someone who trades their own money.

 

[N Rothschild]

uh huh

 

[Skill Leverage]

Local