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

EUR

Dax Trader,

Do you have to have an add-on subscription with Esignal for the FX?
 
IB has a DDE link, so if you have 3rd party charting software you can collect data realtime straight off IB, and have a source for data patches when not on-line which costs £140 pa

A little bit labour intensive, but uses low bandwidth and I find my charts easier to use than other packages I've looked at.

Used to pay $2100 pa for separate feed but it was slower and bandwidth intensive - fine here at office with ADSL, but home and laptop not so good.
 
JT- hanks for that- i know u are a pc wiz kid !!LOL

Dax T- I used snapdragon briefly- like u say abit out dated.........

Also on Sierra i was told there is no history !?!

p.s. since u are now watching currencies/forex, hope u caught this afternoon's move !! too fast for me...........


Al
 
so a scalp on the eurd/usd what do you call a scalp 1 tick profit 2 ticks 3 etc etc???? what your downside stop loss?
also what kind of size is on the bid/offer?
 
Al Motor

Rossored uses Sierra and gets the history as well through them, so must work somehow.

Snapdragon may not have all the bells and whistles, but it doesn't go wrong often and produces nice charts, a lot nicer than E signal et al (imo :D of course)
 
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A scalp depends on costs but generally the profit would be 1 tick or more and the loss would be 0. If it goes against you get out where you got in or change to a spread and get out of that at the same level. It is going wrong if you lose more than 1 tick. All about volume at a price.
 
DaxTrader,

Don't want to turn this thread into software thread but do you lease or did you purchase SnapD ?

Also, thinking of adding Eur/$ futures to my trading...any views on that...spread? Liquidity? Too twitchy or reasonably tradeable?

I could email you offline if this thread is getting too far off the scalping theme ?
 
Hi guys when you talk about scalping, are you buying and selling between the bid and ask or just taking small moves,

Regards mark
 
A scalp depends on costs but generally the profit would be 1 tick or more and the loss would be 0. If it goes against you get out where you got in or change to a spread and get out of that at the same level. It is going wrong if you lose more than 1 tick. All about volume at a price.

on the above what kind of spread would you do on say eur/usd?
 
I keep asking myself the same question, is scalping the way forward, and the reason i ask is simple, alot of us trade the dow on here and take Thursday the 12th, most of us spent the day twiddling our thumbs as nothing happened, but if you say had a fictitious target of say 30 points per day clear of costs, well if you did say 10 or 12 scalps you would hit your target most days i would say provided you stuck to the rules, and also when the market is moving you would also benefit from the odd big mover,does this sound just plain stupid or a valid question, like to hear the thoughts of others.

Regards mark
 
Easiest markets to scalp tend to be the ones where you have liquid spreads as you have more chance to scratch the trade for cost than you do if you are scalping outrights. Only my oopinion here. There is software available which allows you to create your own spread between markets such as different indices and keeps dynamic bids and offers in each of the legs to ensure one fill will trigger the other legs. can scalp just about any liquid market.
 
I do believe that as an individual trading your own equity, scalping probably offers the best risk/reward. It is not for everybody however as you have to concentrate hard for extended periods of time and become a real screen monkey. Not as pleasant as the automated systems that trade the short term breakouts, I just did not find a system which could provide the same sort of returns as scalping. It hasn't stopped me in my quest to automate the scalping methodology however...One day I may manage this.
 
Hi ,
When u refer to a liquid spread are meaning , Very thick depth on both sides ?

Tpack
 
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