Scalping the Dow

[Quercus]

CJ,
It's interesting that you talk about size, as I distinctly remember you saying that you could NOT trade more than 10 contracts when you first came to these boards. This was at the time when you were attempting to recruit people into your "fold". Now it appears that you are able to trade as many as 50 lots, and all in just six months. You have either "seen the light", or are/were telling porkies!

Which are we to believe????

 

[cj12]

To Quercus

If you remember i was looking for people to trade for me, and I funding them, which i now have and yes i used to trade 10 to 15 lots,,its different in the s&p pit where i used to work for E.F..Hutton.trying to move 100 to 300 lots scaling in and out, This is why im aiming to trade 100 lots myself and yes im now up to 50 some times 70 lots. Its hard to try to get 50 to 70 lots on at the price you want and it going to get harder as i increase in Size, that's why I can only trade pull backs I need plenty of sellers to take my lots,

This is why I belive if you want to be in the 1% you got to think SIZE.im aming for 200 lots soon then 300.and my be running my own hedge fund.in time.

Its better for day traders if one is placing the orders and me reading the charts.

CJ

 

[wisestguy]

" Scalpers in the pit most of them locals and not got the big money to move the markets like the commercials. "


yes , this true , ironically it ain't cheap to be a local these days . on Simex to trade the nekkei225 , you have to stump up something like $90k just for trading cap. on top of that you have to account for comms and losses too.



" ITS ENORMOUSLY DIFFICULT ESPECIALLY WHEN THE MARKET Running, scalper can make money day in day out, but on a trend day he will get killed and can give most half of is profits back "


I agree , you'll get your bid or offer filled one side and the market will run before you can square off , and if you're doing size it can be even worse.

 

[TheBramble]

If you remember i was looking for people to trade for me, and I funding them,

That wasn't my recollection.

20-11-2003, 09:22 PM #14

im new to this i get the hang of soon.


21-11-2003, 04:37 PM #20
SCALPING THE DOW
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I would like to know if anyone else in the room post live trades up or is it only me. Reason I can do this I got someone working for me placing my orders and he can place a few lots him self.

Much easier as I can concrete on recognising weakness and strength in the indices then deciding if I want to scalp to the long side or the short side.


22-11-2003, 02:30 AM #29
dow trading
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Hi all

I see a lot of you use indictors trend lines moving av. and most traders wait for they magic indictors to turn up to go long, did you know pit traders know where the head and shoulders are when macd go in to positive or negative which gives the public they signals, also the market makers know what all the public traders are looking at,

There to many traders looking at the same thing that's why most are losses in this hard game of knocks I should know I have taken plenty of losses in my early days.

plus new traders ignore the cost, example lets say you are a 1 lot trader and trading the $5 mini Dow future OK if you just place 2 trades a day and commission cost you $12 round turn that's if you luck most newbes get charged $15 to $20 to trade 1 lot, anyway you trade 2 times a day comm. $15 over 5 days commission cost would be $150, you would need 30 points profit in a week just to cove cost.

some one ask me if im going to charge money for my live signals, give me a few weeks and see if im worth it, but i wont be charging as such, if anyone are interested i ask the person to trade 1 lot for me i will need 5 people max and every $2000 i make for you. You would then trade 2 lots for me and so on,

You ask why im doing this, I got a big weakness I cant trade size I only can manage 10 lots max so if I get 5 traders placing a few extra lots for me it would be a big help.

I only receive money if i give you winners, and that's why im here

 

[cj12]

To Bramble,

Digging up old post, um, only reason you done this, it would seem is you dont believe in what I do.Reson why I said I need 5 traders was to pick one that would be reliable. I was thinking of having 5 traders placing orders on for me and for their self. But if you look at later post I said I would fund them, I was just testing the water on people reactions, anyhow if you look at later post again I knocked this on the head.I know got the person who is making money on my trading desctions.and we now up to 70 lots on some days.

Ps the 5 traders who would trade 1 lot for me, that would have gone to charity.not me.

Sorry you feel like this Bramble.

CJ

 

[wisestguy]

cj12,

what reaction were you looking for , either people are going to respond or they are not . what else could there be ?

 

[neil]

Where

Sounds very interesting Gully, please enlighten............

Dave

Golly, has Gully gone ?
:cheesy:

 

[Dave1971]

Golly, has Gully gone ?
:cheesy:

You'd think Gully's sort would know better by now :|