Scalping for 1/2 tick or a tick but what stop to use

herbie14

Junior member
48 0
Hi
does anyone know any good resources for techniques on scalping dax/ftse futures, i have been doing so for several months but have not go to the point were i feel comfortable to do more than 3 lots a pop...
any good ideas would be great
 

TWI

Senior member
2,531 252
I know of no book but in my experience it is not good to trade outside your comfort zone. 3 lots in ftse is a good amount if you are starting to scalp. Only once you are comfortable with your technique increase. If you are not comfortable then I would cut back to 1 lot.
How about trading the spreads between indices rather than the index itself. Less volatile and easier to manage.
 

herbie14

Junior member
48 0
hi
thanks for the info so say buy ftse and sell dax? then i would need about 3 lotson the ftse for 2 lots of dax?
thanks
neil
 

JonnyT

Senior member
2,560 22
Don't trade FTSE the range is too small. In fact don't trade any Index Future.

Why don't you trade the EUR/USD on Globex?

Great movement, Great to scalp, 1 tick spread, Average range 3 times FTSE, $12.5 per tick


JonnyT
 

herbie14

Junior member
48 0
ill take a look do you know the times it trades?
 

BBB

Experienced member
1,071 3
Good ol' JonnyT. He loves his FX futures.

A good trader is a happy trader. Keep it up!
 
F

ford

0 0
Not if you do it 30 times at high volume. But you've obviously got a highly profitable method, how else do you manage to make so many useful posts?
 

al-motor

Active member
249 0
LOLLL JT............... I dont think Herbie is familiar with your startegies............

Herbie, JT is very much into Currency trading and he is right........ the indicies especially the FTSE are out of facshion at the moment.

As far as scalping goes, I certainly wouldnt fancy it !! Very easy to get the 0.5 tic BUT how many Tics are u risking.......

My brother who is very new to trading, was inspired when i told him that u only need a £1000 and managing a consistent 15% return per month compounded will return well over a million in about 3.5 yrs !

Sounds easy ( in THEORY)- and he was thinking that if he could manage just a net 3 pips ( pts) in the Eur/USD, then he would make it.............. BUT i told him that he had overlooked the losses- IT is the LOSSES which will ruin this show........unfortunately the losses are going to be part of the show.


Al
 

JonnyT

Senior member
2,560 22
Hi ford,

What risk are you taking doing high volume 30 times per day?

What Capital do you need?

Are you balls made of Steel?

My Auto System is averaging > 10 ticks per day from a single trade rising 5 ticks per day.

To me this is much better and far less stressful than doing large size. I'm not even at my PC when it trades...

JonnyT
 

TWI

Senior member
2,531 252
You guys have scalping all wrong. Most losses are costs alone if you are disciplined. This means that trading 50-100lot clips in a contract can be done relatively safely. The main cost to me is not losses, although they do occur, it is transaction costs on doing many thouands of rt's/month.
 
 
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