Is Scalping possible?

Quote from Pabst:

You're right, but I'll tell you, that book get's loaded up early. I've heard of guys putting in so many bids and offers that they're busier canceling orders than trading.:)
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That's to your advantage, if you have the courage of your convictions.


Most of the spoofers don't...by definition.


If your trade position is good then the current Hr bar of trading will close with your position in profit and the following bar's open will confirm that.

If this doesn't happen you generally have a scratch or a tiny( 5tic) loss.

I've had profits of over 140 tic using this entry set up, most recently short Dec Bobl @114.99, 115.01.

Shorts covered @113.87,113.85.


That was last week.



It was a good week



I've had ALOT that are much WORSE... but I'm still here after 15 years so I'm happy.


1in10
 
Quote from omniscient:

wow FT .. stupid and a loser - all in one day :D

i know you don't sweat generic perspectives, so i won't fret too much that these jabs at your particular niche will damage your trading psyche :)

take care and keep it up

omni

BTW: the DAX has been rather interesting over the last three sessions, no?
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:D

I am just being sarcastic. I am sure everyone here realizes that nothing on this board can be taken all that seriously. I know what I'm doing and know what it does for me, so I don't take offense at all. I have a hard time staying away when generic statements are being made about anything. Trading is never that clear. It is a personal thing and perspective. I think I'm too stable to be offended easily.

You are right. The DAX has been amazing these last few days. It seems to want to do its own thing and there is plenty of follow through.... a lot of clear moves.
 
Quote from Oneinten:

Pertinent and astute comments.


However if you place trades at resting levels in the tails of a bell curve, the chances are that you will always have others behind you as the market approches.

This gives you 2 options.

A)With an early fill the chance of an old fashioned 1 or 2 tic scalp if the market sticks around the level and seems to accept it.


B)A good position if the market rejects these prices quickly.



That's a two out of three winning scenario....What more could you want?



1in 10
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Are you using MP to determine those tails of a bell curve?
 
Quote from jackbyrd:

I have reviewed your posting history. While it does appear that you have a firm grasp on these issues, I can't help but think that you must be advertising for your trading firm. Is this correct sir?
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Actually, I'm not advertising for anything. I don't have any service to offer other than whatever I have learned through experience. I state that I train my traders or mentor them often to provide some validity for my viewpoint. I train on a retail basis and I only hire from specific sources.

Do you find that my comments are invalid? Do you feel that I'm marketing something? I hope not.
 
Quote from Pabst:

You're right, but I'll tell you, that book get's loaded up early. I've heard of guys putting in so many bids and offers that they're busier canceling orders than trading.:)
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I agree with you. There are a lot of spread traders in the main trading room where I have my office in Chicago. They have the book stacked up and down to reduce their legging-in cost for the treasury products. It seems like they spend more time canceling and adding orders than trading. When the CBOT switched to LIFFEConnect almost 2 yrs ago, there was a problem with the servers that caused many of these traders to get filled on what seemed like a surprise move while the system was down. A few of them lost over $50,000 that day and it took 1 whole day to figure out what their position really was.

I don't know how one can go back to stacking the book again after an experience like that.
 
Quote from FuturesTrader71:

Are you using MP to determine those tails of a bell curve?
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Capflow software with the splitter set to a high time frame.

Gives profiles approximating 1 month of trading and splits on range excession closing only basis.


So yes MP but not how most of the world looks at it.


1in10


p.s I don't think I'd get very satisfactory results in today's markets if I just stared at a bog standard daily profile. The time frame is too crowded, almost as crowded as the tickitis mob staring at their screens all day everyday.:D
 
Quote from Pabst:

You're right, but I'll tell you, that book get's loaded up early. I've heard of guys putting in so many bids and offers that they're busier canceling orders than trading.:)
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Indeed, in both ES and ZN, I've had on occasion submitted a resting order quite far away from current price, over 1hr before price arrived there, and it would trade 100s of contracts before I got a fill.

It seems that there are blackboxes which fill the entire book with orders.
 
Quote from mtzianos:

Indeed, in both ES and ZN, I've had on occasion submitted a resting order quite far away from current price, over 1hr before price arrived there, and it would trade 100s of contracts before I got a fill.

It seems that there are blackboxes which fill the entire book with orders.
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Yes, that has been my experience too - in ES. No matter how early I send in the order, the price pretty much has to trade through that level before I get filled.

All the more reason that ES should go to a smaller tick size.
 
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