Price action

Quote from jem:

I think it was nitro who once said that during the day to scalp es the way to do it is have your orders out there at all the different levels and then cancel them until you want to get filled. That might be even better advice at night. It was one of the most professional statements I have ever read hear on et.
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Sounds clever enough, but it also sets you up to be PICKED OFF like a clay pigeon when it hits the fan. You aint gonna cancel squat when the big boys sweep 4 or 5 levels.
 
Quote from ElectricSavant:

Some of you more experienced scalpers out there might share in the discussion about the noticable "rhythm" while watching the price pump back and forth.

This type of trading can really be big business for your broker and "1 tick scalp trading" may be "stacked odds" against the retail trader...I really do not know yet.

Michael B.
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it is just a demo, I routinely click, click for 2K/hour but is is pretty much go opposite way in real trading, you will click your way to your doom.
 
Quote from nkhoi:



it is just a demo, I routinely click, click for 2K/hour but is is pretty much go opposite way in real trading, you will click your way to your doom.
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ok I admit it....(I have done this before, not click to doom!) I just like to talk with the 20,000 others here....sometimes I find a joyful, smart trader out there that I can learn from.

I spent one of my most profitable days when I was trading a futurewise account(now closed by the NFA) and just taking those ticks as fast as I could find them. The key is to get out fast when the price does not continue to go back and forth. Also these $1.00 commissions and a seat on the CME would be helpfull. Also I would like to take 20 years off my age so that I do not get so tired.

I am position trading now and working a day job. But I just can't stay away from trading. I like the night session because its so slow and I can trade both the ES and the NQ.

nkhoi talk to you again.....Thanks for your advice in the past and hopefully in the future

Michael B.
 
Where are the many pages of responses, discussions, scolding....whatever.....My threads just do not get the readability...I guess I am a boring writer and should just shut up, and go back to trading.

Michael B.
 
well what do u expect man. first u say u did this on demo. then u say u did this for real. where's the truth brutha. gotz to keep it real.
 
Quote from ElectricSavant:

Say the NQ is trading at 1440.00 (last trade highlights automatically in most DOM platforms) just click the left green side at 1439.50 and wait for it to drop down and fill...... then immediately click at 1440.00 on the red side and wait for it to pump back. I did this over 200 times over the course of the evening at every opportunity that I could catch in the ES and NQ. I found this to be like a video game...simply testing my reflexes. yes, no charts....just price action....
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Quote from ElectricSavant:

I am position trading now and working a day job. But I just can't stay away from trading. I like the night session because its so slow and I can trade both the ES and the NQ.
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Quote from ElectricSavant:

Where are the many pages of responses, discussions, scolding....whatever.....My threads just do not get the readability...I guess I am a boring writer and should just shut up, and go back to trading.
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I can't explain why, but I'm reminded of an old but true story I read in the great British comic Spike Milligan's book "Adolf Hitler: My Part in his Downfall" (1971). Milligan kept ignoring his call up notices for World War II, till finally he had no choice but to enlist:

Officer : "I suppose you know you are three months late arriving for your call up?"

Milligan : "I'll make up for it sir, I'll fight nights as well!"

There have been a few good threads in the past about after hours trading with valuable information, such as the influence of Asian and European markets, which you'll have to search for yourself as I can't recall specific titles.

As others have already pointed out, trading a demo at night is very misleading in that it conveniently ignores the FIFO nature of Globex order execution. Using your own example, and assuming we're in a quiet, non-eventful part of the evening (most of it, as it happens), when NQ is trading at 1440.00 and you join the bid at 1439.50, you will be joining the tail end of a queue of, say, 37 other NQ's at 1439.50. The price could ping-pong back and forth a few times between 1439.50 and 1440.00 in the following 10 minutes, but more often than not these are small prints, so you now find yourself in position number 18, and still waiting. Of course the demo has you up 2 points, because 4 ping-pongs equals 4 successful trades. Say you do eventually get hit and assume the bid of 1439.50 isn't taken out, again giving you the benefit of the doubt. You now place an order to close out 1 NQ at 1440.00. Back of the queue you go, and the long waiting resumes. If and when you finally do close out the position, the demo has you up 10 points. The above has not been an attempt to discredit demo trading, but rather a description of the conditions you will face and the extreme patience you will need to fight nights.
 
Thank you for your experienced and intelligent response. This is correct and I agree.

The RTH session is better for this and it might be a way to make money....I remember doing it at Futurewise....but they were closed because they were a bucket shop type operation and taking the other side of the trades themselves which might explain my fills.

At 02:00-03:00cst I notice the Europeans start trading and volume picks up.

Michael B.

P.S. to be entertaining you have got to lower your intelligence level Mr. Sub....ok? knock it off
 
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