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
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.
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.
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.