UK Scalpers

Hi guys,

This thread was actually great... I learnt a lot reading monkey's old posts, as well as Cutten and Stratcat ones. Extremely interesting... I am wondering if they are still there...
I left an IB a couple of months ago to daytrade the bund in a prop shop (I was an HY trader for a few years). Unfortunately I am the only one trading FGBL in the office as the others are more index oriented. And I found it extremely difficult not to share views, impressions and strategies with other traders. It is even more difficult as I am
struggling. (I am slightly negative after 3 months, trading only)
Are there any other Bund/bobl traders in prop shops or IB that would be interested in reviving this thread and sharing their experience? I would be really interested to know wether I am the only one struggling on some days ...
I don't have much to give myself appart of a highly irregular track, and a useless 5yr experience in HY :)
 
Hello Everyone,

I heard there are firms in London who gives trading then can work with there capital for profit share. Does anybody work in this kind of firm? I would like to join to 1 of them.

Thank you.
 
Great thread. Learned several new things. I used to trade forex eur/usd, but recently got interested in index futures, and I found DAX volatile and liquid enough for me to trade. I can only trade Europe morning, thus US instruments are out of reach for me right now.

Sim trading it currently and planning to go live in April. I am a short term trader anywhere from under 1 min to 5-10 minutes. The usual trade is about 3-4 minutes.

It would be great if earlier posters can come back and share their thoughts right now. How things changed over the last few years for better or worse. Are they still scalping?

Thanks,
redduke
 
Hi there,

Currently involved almost exclusively in system trading.

If you're interested in the area, the thread linked below is excellent. Perhaps the most valuable I've come across on ET.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=33654&highlight=acrary+system+development

For scalping / ST trading, have a look at the YM threads in the Index Futures section. Porgie's deceptively simple posts are noteworthy.

Good luck with the dancing DAX. Double bottoms and tight stops. Master another pattern and you're set.

AM
 
For the benefit of others coming fresh to this thread, it would be great if you summarise what you've picked up from it.

Good trading.

AM


Quote from RedDuke:

Great thread. Learned several new things. I used to trade forex eur/usd, but recently got interested in index futures, and I found DAX volatile and liquid enough for me to trade. I can only trade Europe morning, thus US instruments are out of reach for me right now.

Sim trading it currently and planning to go live in April. I am a short term trader anywhere from under 1 min to 5-10 minutes. The usual trade is about 3-4 minutes.

It would be great if earlier posters can come back and share their thoughts right now. How things changed over the last few years for better or worse. Are they still scalping?

Thanks,
redduke
More...
 
Alpha_monkey,

I'll provide a short summary, but some of the things are from some other ET threads and my experience (very limited and sim only)

- I only trade DAX first 3 hours (3rd hour extra cautious since the mini trends do not run as long as first 2 hours).
- There are plenty of tiny scalps opportunities and short term moves (5-10 points). The optimum size is 3-7 cars, if you get close to 10 or more, some slippage needs to be taken into account.
- There are no limit up/down, but there is a volatility interrupt, where trading is halted, and when reopened, it could be like opening, significantly higher/lower from last trade. Happens about one per year
- Stops are native sitting on the eurex server
- TT feed to one of the best to be used (Ninja Trader provides it as well now, but it is in beta still, full release should be within 2 months). I currently use PATS feed with NinjaTrader as front end.

Probably not listing all things, but these are the ones that I can think of right now.

All in all, a very good (liquid and volatile) instrument to trade for my style. My max daily loss is 10 points. Profits - I'll take what ever markets gives me, but aiming between 10 - 20 points.

Thanks for above link. I saw some posts by Porgie and agree with almost everything she says. I have similar mindset and style.

I have a question about summer months, how quiet does DAX get during summer months? Also, is there any place where I can get historical tick data? I found that I can get it from http://deutsche-boerse.com. It is 300 eur per year. Not bad, but want to check if there are any other reliable sources.

Regards,
redduke

P.S. Love the name - Dancing DAX
 
DAX in the summer? well it depends, i've seen it rocking. however, with the world cup being this summer and germany the host, i think june and july could be pretty slow/thin but you never know, it could be rocking again.
 
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