trading mostly based on price ladder/ depth of market
- Thread starter edward22245
- Start date
I have seen reports of scalpers where they had a PF of 6 and even more and after broker fees it was down to 1.5 or less. Out of $8000 profit they had 1k left or so. Just blows my mind.
Wow, not only you have statistics on day traders, but it’s also broken by trading style! Maybe you can define the term “scalper”
Nice brain you got. It is a surprise to you that scalping 5 pips with a spread of 1 leads to huge broker costs?
And I do not have stats on scalpers I don't care enough to look for that, I just saw the individual reports of some guys.
https://financial-dictionary.thefreedictionary.com/scalper
"An in-and-out trader who attempts to profit on relatively small price changes."
https://www.investopedia.com/terms/s/scalpers.asp
Scalpers I know or heard of use level 2 market data (among other things) and hold for at most a couple of minutes, no exact def but always less than 1 hour unless it just skyrockets their way once in a decade I imagine.
Wait do you know what level 2 market data is? And spoofing? After 4 years you should know the basics.
So your opinion is based on scalpers you know? You speak as though you got this game figured out, so please tell us what your style of trading is.
They pay a alot of commissions/spreads so (some) brokers love them, but some brokers hate them for reasons I invite you to go look out yourself since this seems to interest you passionately.
ROFLMAO
Bone speaks the truth . I'm talking about stocks now, futures is a little diff.
Not even sure the gaming itself is the big problem, as you can learn the games and avoid some or most of the suckery.
BUT, the co location advantage , and the fact they the algos are all automated, means a hand trader has to be a f'ing psychic to get in and out before it hits the fan.
Now, that said, a skilled trader can find entries that offer some edge , so the exit isn't as critical. But pure in and out scalping the way it used to be done, impossible for over a decade. Sure you can do it , and you might even win a lot, but the real edge is gone
There's another even bigger problem. You rarely if ever get to interact with RETAIL TRADES. All passed thru pfof buyers, so you never get a dumb seller or buyer. Used to be lots of those .
Not even sure the gaming itself is the big problem, as you can learn the games and avoid some or most of the suckery.
BUT, the co location advantage , and the fact they the algos are all automated, means a hand trader has to be a f'ing psychic to get in and out before it hits the fan.
Now, that said, a skilled trader can find entries that offer some edge , so the exit isn't as critical. But pure in and out scalping the way it used to be done, impossible for over a decade. Sure you can do it , and you might even win a lot, but the real edge is gone
There's another even bigger problem. You rarely if ever get to interact with RETAIL TRADES. All passed thru pfof buyers, so you never get a dumb seller or buyer. Used to be lots of those .
Trust me that you are making fool of yourself because you don't really know what you are talking in scalping field...
Anyway, it's bed time for me. BYEBYE...