This thread is informative and makes me critically analyze whether I can ever get ahead scalping for 4-6 ticks risking sometimes 15 with a 90% win, but paying almost $5 RT. That said I have already starting looking and trading a 2 to 1 R to R with a lower win % but the net affects seems better and less comish.
Scalping Index futures
- Thread starter eusdaiki
- Start date
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eUSda;
Sounds like you could do it, you have shown a persistant interest for years in scalping.
I remember you name from FuturesTrader71 scalper threads.
Dont know if a simulator helps scalping or not.?????
Like charts and some intraday trends enough , so I usually try for more $50 [4 ticks] per ES contract .
Plus speaking of number 50;
at 50 plus years young,[1955 birthday] longer intraday time frame charts look better all the time.
On a $20,000 account, all you have to do is average 2 profitable two tick scalps per day with a 3 lot. If you can do this you are making over .005% return per day, and with growing position size weekly you will be on your way to very very successful trading.
The mind set of most traders is so far off base from what creates success......it is high probability measured hits with a very consistent method that will create dramatic returns. Going for too large a return per trade and excessive overtrading kills most scalp methods.
The mind set of most traders is so far off base from what creates success......it is high probability measured hits with a very consistent method that will create dramatic returns. Going for too large a return per trade and excessive overtrading kills most scalp methods.
What is DMA? Daily moving average? I never heard it called DMA.
But it cost an additional $1,500.00 for a three month lease fee in addition to the .88 cent round trip. Right?
Lease fee below.
http://www.cme.com/trading/mem/leaseprices.html
Index Scalping Client questions:
Several IB front-in clients have a feature that will enter the trade with a Limit order and then 'chase' the bid/ask until the order if filled.
The goal is to improve the fill price compared to always entering the order at the market.
The approaches used to chase the bid/ask include:
1. Place limit order and wait n-number of seconds for a fill. If not filled within that time period, replace the limit order with a market order.
2. Place the limit order and replace the limit price with new price as the market moves away from your target price. After n-number of ticks away from your target price, place a market order, or cancel the order.
For the index scalpers, the following questions:
1. How helpful is this approach to chasing the bid/ask?
2. What other technique can be used to reduce slippage?
3. What is the best 'front end' for scalping? Buttontrader, Ninja, etc., etc...
Any information on the best entry method for scalping would be helpful.
Thank you
Several IB front-in clients have a feature that will enter the trade with a Limit order and then 'chase' the bid/ask until the order if filled.
The goal is to improve the fill price compared to always entering the order at the market.
The approaches used to chase the bid/ask include:
1. Place limit order and wait n-number of seconds for a fill. If not filled within that time period, replace the limit order with a market order.
2. Place the limit order and replace the limit price with new price as the market moves away from your target price. After n-number of ticks away from your target price, place a market order, or cancel the order.
For the index scalpers, the following questions:
1. How helpful is this approach to chasing the bid/ask?
2. What other technique can be used to reduce slippage?
3. What is the best 'front end' for scalping? Buttontrader, Ninja, etc., etc...
Any information on the best entry method for scalping would be helpful.
Thank you
I can manually trade scalps plays with NinjaTrader very easily as the platform is great for that type of trading (Zen-fire feed is very fast for order execution)....but the ultimate is to automate your method if possible and trade with XTrader.
btw, scalping in the direction of the heavy "delta" is preferred!
btw, scalping in the direction of the heavy "delta" is preferred!
I think he is talking about 'renting a seat' on the CME. Cost is $1,500 every three months or $500.00 a month. Have to pay 3 months at a time. Then you get the .88 cent Round Trip. no broker. You trade directly throught the CME. I think. Not sure.