The Ultimate DAX Scalping Discussion Thread!

Quote from Scientist:

Hey easyrider,

Interesting post. You know why? Because it's full of "deadly language". Have you scrutinized mine? Mine had a deadly word in it: "convinced". You can never be convinced. You can never know, you can never assume. If you "think", or "assume", you're dead. I had the arrogance to afford such a thought, and as you see, I paid for it!

Now I'll go in on yours:If you were "just watching", then why did you put on a trade? Compulsion?

Why do you think it's "about usual for me"? You know what impact that has on your psyche? It means that:

- You think you can't do more, thus probably won't (limiting belief)
- You have an excuse for not attempting more

You have installed an undeniable truth in your brain that states this, thus becomes reality and limits you. There is no real reason "why" it should be "about usual for you" - right?

"I was totally convinced the market would..." Think about it. How can you know what's going to happen? And very particularly, how can you be "totally convinced?". If you are, it means both your conscious and your subconscious are limited to your conviction, how can you fully take into account all parameters? Nothing is deadlier than bias. If you're biased as a short-term trader, you will die by the sword.

"I was sure it would..." See latter paragraph...

"I never catch any big moves." - Now what a heavyweight limiting belief is that??? See above.

If you think you'll never catch any big moves, you never will.
Your mind is the universal power over your reality.

Preferably print, then read this, it's awesome and it's free: http://website.lineone.net/~jamesallen1/think.htm
James Allen is one of the greatest thinkers of our time, and very applicable for trading.
Better, do an NLP practitioner course, I highly recommend it.

Good Luck on Monday!
Scientist [/B]
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Scientist...thanks for the link.
 
Hi at all,

I read through the posting over and over again and I have to say that this is one of the most exciting lectures I read so far. But as I can see subject is lost at the end of the thread...it´s a pitty.

I personally have nothing to do with the dax, this bitch hit´s me very hard, every time i try to ride her:-D
So i preferr to scalp the eurostoxx, on the on hand it gives me less profits per trade but less loss on the other hand, so I have to make money via frequency.

Why I´m posting here after the thread seems to be dead(hope not): I refferr to the dax very closely, as the dax is often the leader of the move, when dax is making new highs and stoxx is eating up resistance, I enter the stoxx long. Also if dax does have a premium compared to the stoxx I´m up to enter long.
Between 12.00 and 13.30 I sometimes scalp the spread in the SMI but this ain´t bread and butter trades for me.


My personal frontend is the buttontrader, I really love this one, ´cause it´s very intuitive and allows to trade very fast. I personally don´t use any charts, the only thing I´m looking at is a P&F at the beginning of the day to figure out S&R - Levels.
All the other things are done by the book and the volume.

I also have a question especcially to scientist: I read about you using T&S but the Buttons don´t feature that. Where do you get T&S? I personally use the T&S of Zerolinetrader. I only need the simtrader for that, as it is free and for trading I use buttons anyway. But I don´t want to use two programms on the API of TWS anymore, as there are always problems and makes the system slow and unstable. Do you have an idea of what to use instead, without any expensive additional software like eSignal?

Second question is about marketcondition in general:
I intensively analyzed the recorded Demos of Buttontrader(recorded in 2003) to compare it to these time markets.
What I found out, is that there is much more flipping (of course...)
in the dax as well as in the stoxx today. How do you get along with that? I heard about a heavy trader, a friend of rotter, who is very active in the dax usin the same techniques as paul.
As I´m not trading the dax, I don´t mind that, but there seems to be a programm trading the stoxx, which acts very stupid, as it adds contracts only at the inside, so I use that.
When bid/ask is 1200/30 and in the next second 1200/1300 I immediatly buy the ask, as probability is very high that the 1270 are pulled out again.
So this is my personal strat, how do you guys compete the flippers?

regards,

stfreak
 
Hi Scientist,

I have just finished reading this thread.
And I would simply like to say Thank you:

THANK YOU for starting this thread. (without any, or if at all minimal advantage for yourself)
THANK YOU for continuing it in spite of all those persecutions. (Perlen vor die…)
THANK YOU for giving us beginners plenty of HQ-information, clues, insights and links.

I hope I will sometime be able to give something back of what I take.
Kind regards
Spacepilot


Btw
During my own research I find that scalping is what I like to do. (on GBL first!?)
Is there a possibility or thread to discuss one or another setup/entry with you?
(Guess you will find them all very simple.)
 
Quote from Spacepilot:

Hi Scientist,

I have just finished reading this thread.
And I would simply like to say Thank you:

THANK YOU for starting this thread. (without any, or if at all minimal advantage for yourself)
THANK YOU for continuing it in spite of all those persecutions. (Perlen vor die…)
THANK YOU for giving us beginners plenty of HQ-information, clues, insights and links.

I hope I will sometime be able to give something back of what I take.
Kind regards
Spacepilot


Btw
During my own research I find that scalping is what I like to do. (on GBL first!?)
Is there a possibility or thread to discuss one or another setup/entry with you?
(Guess you will find them all very simple.)
More...

Where is Scientist now?
 
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