Scalping FTSE 100 Cash,

[monkey180]

Hello,

I head read all sorts about slow fill times (are people talking about limit or market orders), and things like that when trying to scalp the FTSE 100.

I plan to make 20 pips a day 5 at a time.


Who is the best broker for doing this? I plan to use IG, and are all the stories about rough brokers true? Or people loosing a trade and blaiming the broker?

Thanks

 

[Doomberg]

You shouldn't have a problem scalping with IG unless you go above £50/€50 per point

I don't go that high and its very rare that i have problems, very occasionally you will
have to wait a few seconds for a close but this is few and far between, however with
other companies, even big ones like ETX i have found that my close can be rejected!

Having tried many SBing companies i would say that IG are the best, and tbh the main
reason i think they are is because they are the biggest....

 

[monkey180]

HI there,

Thanks very much, please explain a little more about close a position, because sometimes the FTSE can just plummet through a resistance point, and you can be had to a few points.

Remember the plummet on the 3rd June? After the jobs data.

What would have happened if I had got caught up in that plummet, would my sell order just get delayed mean time I am about 20 points down.

Yes only looking for 5 max per point, and then off to Pro Spreads.

Thanks

 

[bangkoker]

Are you saying you would already have a stop in the market? or that you being trying to put the order in during said plummet?

If the market trades at the price of your stop you should get taken out at that level? but if the market gaps and the spreadbet company doesn't believe the market traded at the level of your stop you could get gapped down to the newer level. There are of course guaranteed stops (at a premium to avoid that).

In normal market hours on a vehicle as big as the FTSE100 how often is there significant gapping?

 

[monkey180]

Hi again,

I shall not be holding any overnight situations, yes I shall have a stop in place, but if the market falls so fast within about 10 seconds (I am talking a few pips), but enough to make scalping hard.

If the market hits a stop (non guaranteed) but because the market fell so fast would you get out at a lower amount?

Yes but what would happen if I tried to get out with no stop in place, during a fast downward movement?

Thanks

 

[Emini-mouse]

Hello,

I head read all sorts about slow fill times (are people talking about limit or market orders), and things like that when trying to scalp the FTSE 100.

I plan to make 20 pips a day 5 at a time.


Who is the best broker for doing this? I plan to use IG, and are all the stories about rough brokers true? Or people loosing a trade and blaiming the broker?

Thanks

if i could only do what you do. i would own nearly all the money in the world within 6 months

 

[tomorton]

I don't understand trading for 5 FTSE pts. 5pts is gone in about 2 seconds if the market is moving and if the market's not moving what are you trading right now for? But if the market is moving, and it moves 5pts befoe you can get your trade in, do you still take it?

 

[monkey180]

Emini Mouse - are you saying that scalping the FTSE 100 is virtually impossible?

I mean making an entry and then exiting when coming into 5 Points Min Profit, or holding if the MCAD;s look okay.

 

[Doomberg]

monkey, yes of course its possible and if you are doing it then just ignore the ones that say it isn't, these are just the ones that cant trade and will give up soon

 

[monkey180]

Hi Doomberg,

Basically my strategy is to jump in when the FTSE has take a sharp drop, then ride it in the MCAD,

If you get a FTSE chart up for last Friday, would have gone in at 8.22 and 12,24.

Wait for 2.5 point uptend on a 1 MIn Chart, and hold in the + MCAD, untill 5 points is made.

I mean it sounds simple, and am looking for the catch.


Thanks

 

[Emini-mouse]

Emini Mouse - are you saying that scalping the FTSE 100 is virtually impossible?

I mean making an entry and then exiting when coming into 5 Points Min Profit, or holding if the MCAD;s look okay.

not impossiable but if you can do it consistently ( you dont mention much about losing trades/days) you will become very rich
you know its just about as easy to lose 5 points as it is to gain 5 points ,not counting spreads

 

[monkey180]

True, yes I was planning on a making an entry after a 2.5 points upsike, and the selling if it goes down 1.5 points (i.e 1 point above where the upspike started)

With the spread wold mean 2.5 point loss if the price did not take off, and falls over just after you have bought.

 

[Black Swan]

monkey, yes of course its possible and if you are doing it then just ignore the ones that say it isn't, these are just the ones that cant trade and will give up soon

More like he'll give up once he's wiped out due to 5hite *advice * like yours...Scalping the ftse or any indice, using SB as a route to market, is one of the most insane (if not the most) statements I ever read on here..

 

[bangkoker]

True, yes I was planning on a making an entry after a 2.5 points upsike, and the selling if it goes down 1.5 points (i.e 1 point above where the upspike started)

With the spread wold mean 2.5 point loss if the price did not take off, and falls over just after you have bought.

1.5 pts? that is your stop?!

 

[monkey180]

Well yes, more like 2, I would aim for that risk management to get out of a position as soon as it comes into a loss (after spread of course)

 

[bangkoker]

Good luck. :clover:

Look forward to hearing your results

 

[Chartsy]

I'd say the minimum you should be trading for with SB is 20 pips, 5 pips with a 1-2 pip spread, slow delays ...come on...

 

[monkey180]

Arn't Pro Spreads the best for this kind of thing?

 

[monkey180]

Well five pips clear so aiming for 8 - 10 pips to get the 5 in profit after spread and all that.

 

[Doomberg]

More like he'll give up once he's wiped out due to 5hite *advice * like yours...Scalping the ftse or any indice, using SB as a route to market, is one of the most insane (if not the most) statements I ever read on here..

It wasn't advice, i was just saying that if its working for him then keep doing it.... we don't all have 50k to put with a proper broker account, SBing isn't all that bad and works fine for many, especially if you have an account under 15k

And how can that advice be sh!t? Better than 90% of other things you hear on here:
"forget trading, just get a job"
"making money trading is possible"

etc, im very sorry for my optimistic attitude