Scalping & Scalpers

You are so rude to ask! I still work for a living. I trade only between consulting gigs. Today I made maybe $60. I can't even fucking remember. I post my trades in a journal. How embarrassing! I trade only for fun. So now you know.
 
Quote from nugundam:

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What kind and what do you mean by cost structure and infrastructure?

Would you say if you do have the ability to scalp then is it always more profitable and more sure way of making money? Afterall if all you do is try to get as many small spreads as you can then you might have a 90% accuracy as compared to larger spreads which might have 60-70% probability.
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If you will scalp, then you will be making quite a few entries and exits. For this, you need to have low cost (depending on how much volume you will do). Otherwise, your profits will be taken by your broker.

Since you will be taking shorter term trades, your connectivity is key as well. You don't want to trade over wireless and it is best to have a backup plan (it is a good idea to have your broker's emergency number, account number, etc in a sheet of paper folded lengthwise sitting under your keyboard).

Good luck.
 
Quote from John Merchant:

Copa. You obviously are not from here. Being white trash definitely has its advantages. We are all close relations. I mean, VERY close. Mike.
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What part of the trailer park are your from?
 
Why not trade over wireless? What are the negatives, and what is a possible solution?

Quote from FuturesTrader71:

If you will scalp, then you will be making quite a few entries and exits. For this, you need to have low cost (depending on how much volume you will do). Otherwise, your profits will be taken by your broker.

Since you will be taking shorter term trades, your connectivity is key as well. You don't want to trade over wireless and it is best to have a backup plan (it is a good idea to have your broker's emergency number, account number, etc in a sheet of paper folded lengthwise sitting under your keyboard).

Good luck.
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This is an older thread you bought back up and I can't speak for Futures Trader 71 but I believe what he meant is just what he said:

"connectivity is key as well."

So if I am correct, he's stressing that wireless with its potential to be slower and for disconnects is not the internet connection a scalper should rely on...more like ass kicking broadband is more suited for a scalper who trades fast and often.
 
Quote from Slim Harpo:

This is an older thread you bought back up and I can't speak for Futures Trader 71 but I believe what he meant is just what he said:

"connectivity is key as well."

So if I am correct, he's stressing that wireless with its potential to be slower and for disconnects is not the internet connection a scalper should rely on...more like ass kicking broadband is more suited for a scalper who trades fast and often.
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i'd also want ISP fault tolerance. even if you go with broadband, i'd want a second connection via another provider. without too much headache, you should be able to set it up to failover to your backup if the primary has issues.

you might also be able to justify a frac T1 or even a full T1 (lowest i've seen locally is about $300/mo), depending on your volume, frequency, etc. then you could use a single broadband connection for backup.

hth

take care -

omni
 
Quote from Slim Harpo:

This is an older thread you bought back up and I can't speak for Futures Trader 71 but I believe what he meant is just what he said:

"connectivity is key as well."

So if I am correct, he's stressing that wireless with its potential to be slower and for disconnects is not the internet connection a scalper should rely on...more like ass kicking broadband is more suited for a scalper who trades fast and often.
More...
My thoughts exactly. Thanks Slim.
 
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