Scalping in USA

[RedDuke]

Quote from Maxsit:

Thank you very much for your info. Could you please answer the following questions:
1. How many trades do you do per day?
2. What time of the day do you prefer for trading? What do you think abount traiding during US session (after german stock market is closed, dax futures is still trading until US session ends).
3. Do you know successful scalpers? How much do they earn per day (or month) average?
4. What can you say about the interview with Paul Redmond at www.traderdaily.com. Paul says that he earns $15k average per day on fdax.
Your information will be highly appreciated.

Hi Maxsit,

1) It varies, depending on current day volume, but it is around 15-20, sometimes less or more.
2) I only trade first 2-3 hours after dax opens (1 st before cash opens not including). US morning session provides great opportunities since markets overlap.
3) I do not know any succssful scalpers who go for 2-3 ticks. I have heard some do it successfuly via algo trading utilizing market depth. I havily use MD myself. If interested read this thread:
http://elitetrader.com/vb/showthread.php?s=&threadid=103293
4) I tried searching for interviews, but the site requires registration to view them. Please post them here if you can.

Regards,
redduke

 

[sk8erboy]

I think if a person trades 50-100 times a day and consistently making money then he is a floor trader and owns a seat on an exchange.
I doubt you can do this electronically in a liquid market.

 

[dcraig]

Quote from RedDuke:


4) I tried searching for interviews, but the site requires registration to view them. Please post them here if you can.

Regards,
redduke

You can find logins for many sites (including traders daily) that require registration here

http://www.bugmenot.com/

 

[dcraig]

Quote from sk8erboy:

I think if a person trades 50-100 times a day and consistently making money then he is a floor trader and owns a seat on an exchange.
I doubt you can do this electronically in a liquid market.

Of course it's possible. Look at the DAX - volatile, 13 hour trading session, cheap to trade (compared to any of eminis ), bid/ask spread typically 1 tick. There are ample opportunities to find 50 trades in a session.

Whether many people can successfully do it is another issue entirely.

 

[sk8erboy]

Quote from dcraig:

Of course it's possible. Look at the DAX - volatile, 13 hour trading session, cheap to trade (compared to any of eminis ), bid/ask spread typically 1 tick. There are ample opportunities to find 50 trades in a session.

Whether many people can successfully do it is another issue entirely.

Then why do people still pay millions of dollars buying a seat, screaming and pushing one another each day?
Wouldn't they feel more comfortale in a home office drinking a coffee and pushing buy/sell buttons?

 

[dcraig]

Quote from sk8erboy:

Then why people still pay millions of dollars buying a seat, screaming and pushing one another each day.
Wouldn't they fell more comfortale in a home office drinking a coffee and pushing buy/sell buttons?

There is no pit trading on DAX - all electronic now.

 

[JSSPMK]

Quote from dcraig:

Of course it's possible. Look at the DAX - volatile, 13 hour trading session, cheap to trade (compared to any of eminis ), bid/ask spread typically 1 tick. There are ample opportunities to find 50 trades in a session.

Whether many people can successfully do it is another issue entirely.

FDAX ImE is an easier future to trade compared to ES. Even though FDAX is more volatile, its' oscillations offer ranges that are very lucrative considering spread, most of the time an average oscillation cycle will offer x30 the spread, that is an excellent reoccurring opportunity in comparison to ES where you really have to gun for an intraday swing to make it worthwhile. To this day I still struggle with ES, it's like an untamed horse that just keeps on kicking you in the nuts. FDAX is at its best whenever price has been over extended and is showing weakness - BANG!!!

 

[dcraig]

Quote from JSSPMK:

FDAX ImE is an easier future to trade compared to ES. Even though FDAX is more volatile, its' oscillations offer ranges that are very lucrative considering spread, most of the time an average oscillation cycle will offer x30 the spread, that is an excellent reoccurring opportunity in comparison to ES where you really have to gun for an intraday swing to make it worthwhile. To this day I still struggle with ES, it's like an untamed horse that just keeps on kicking you in the nuts. FDAX is at its best whenever price has been over extended and is showing weakness - BANG!!!

Spot on. It amazes me that so few people can see this and become obsessed with ES.

And thanks for your (and ASusilovic's) journal. Very informative.

 

[JSSPMK]

Quote from dcraig:

Spot on. It amazes me that so few people can see this and become obsessed with ES.

And thanks for your (and ASusilovic's) journal. Very informative.

No problem, quite different styles, mine is quite primitive, but seems to work out OK in the end.

 

[Maxsit]

Quote from RedDuke:
Please post them here if you can.

Duke, thanks for the info! I think I shouldn't publish the interview here due to copyright issues. Please pm me your mail and I'll send it to you.