Any short-term tick / 10 sec scalpers??? @ Forex Factory

fxterrapin · #1 Nov 3, 2009 5:36pm

I haven't seen many (or any) around lately. Would like to hear on issues of performance in the current market (what works what doesn't, etc.). Any other experiences and comments are welcome!

Petar_Serbia · #2 Nov 3, 2009 7:05pm

I must say i know people wich trade on Northren Litght Strategy with very good results that is i think 1 sec scalp...

nubcake · #3 Nov 3, 2009 11:47pm

how the hell do they beat the spread trading such short timeframes? without hugely volatile action it'd be impossible to trade for profit, no?

corpralj · #4 Nov 4, 2009 12:02am

Go to a casino.

10 second scalping? 1 second scalping? Are you kidding me?

Anyone who is scalping in 10 or 1 second time frames is not trading, they are gambling.

No intelligent short-term move can consistently be made solely on 10 second or 1 second charts.

Sure you can use a 10 second chart and look a a wide range of time and make a decent move but then there would be no reason to be using 10 seconds as a time frame then. Point being is that if your using a 10 second chart you probably hold positions for under a minute or a few minutes at most.

fxterrapin · #5 Nov 4, 2009 12:27am

Quote:

Originally Posted by corpralj

Go to a casino.

10 second scalping? 1 second scalping? Are you kidding me?

Anyone who is scalping in 10 or 1 second time frames is not trading, they are gambling.

No intelligent short-term move can consistently be made solely on 10 second or 1 second charts.

Sure you can use a 10 second chart and look a a wide range of time and make a decent move but then there would be no reason to be using 10 seconds as a time frame then. Point being is that if your using a 10 second chart you probably hold positions for under a minute or a few minutes...

Are you theorizing or speaking from experience?

(Btw, I was not asking for opinions on whether it works or not. Most people lose in forex and most people think that scalping is not viable.)

megamo · #6 Nov 4, 2009 12:47am

Hey fxterrapin, I was scalpin the 5 sec charts a while back using some techniques by linuxtroll.. you might want to go check his site, quite a few of em are doing it and are doing well. I still go back to it from time to time..

forex4noobs · #7 Nov 4, 2009 8:53pm

I am a professional trader, I know several other professionals and I have been trading about 5 years. I have to say I have never met a profitable trader who trades anything under a 1min chart.

Come to think of it I rarley meet any profitable traders who trade anything under the 1hr chart!

Does this mean it's impossible to trade such a small time frame profitably? No not really. However, it does mean that it's not common.

Like corpralj got the the casino.

fxterrapin · #8 Nov 4, 2009 11:44pm

Quote:

Originally Posted by forex4noobs

I am a professional trader, I know several other professionals and I have been trading about 5 years. I have to say I have never met a profitable trader who trades anything under a 1min chart.

Come to think of it I rarley meet any profitable traders who trade anything under the 1hr chart!

Does this mean it's impossible to trade such a small time frame profitably? No not rally. However, it does mean that it's not common.

Like corpralj got the the casino.

Some claim to be able to do it like linuxtroll (than again he is selling something not trading). I don't think I could do it day in day out... wouldn't last a week, emotionally that it.

The Fool · #9 Nov 5, 2009 1:33am

I am currently sometimes trading off the 10-sec chart. I am looking for reliable periods of volatility (you know when these are, right?) and I tend to enter in ranging volatile PA with a default TP of something like 1/2 the range width or less. In a more trending PA I will enter on the 10s chart but move TP out & set SL to BE + something in hopes of catching longer moves. I typically enter w/o a SL but assiduously kill losers if I am going over approx. 2-pips in the hole.

I also commonly play break-out traps & look for entries on the 10s chart - breakouts at common consol/dead times as they transition to active trading periods (Tokyo open, 0600 GMT, etc - & also typ. flag formations, etc). I will admit, however, that I am always also watching the M1 chart and usually the M5 as well & I draw S/R lines off the M15-H1-H4 tf charts. There are times (as in slow PA) when the 10s chart offers no advantage over the M1 or even M5 charts, imho....to be frank I believe the various tf charts are transferrable in relation to the PA volatility (i.e., fractal nature of the PA, etc)

So, why trade this way? I am interested in finding a trading method that can be repeated with a high probability of success (lol - aren't we all?) By limiting a profit target to something easily achievable within volatile, ranging PA, it is possible to hit 80-90% with ease. I am talking about TP's of 2-3 pips in E/U, for instance, trading on the 10s chart. I have not convinced myself that the same methods on the M1 chart w/ a larger TP (4-5 pip) is not better. I have ambivalence about scalping, truth be told: I think that there is something to be said for limiting one's exposure (& thereby one's risk) to the market and trading on the <M1 charts is pushing the limit there - but, the flip side is that, with limited exposure, you tend to commit to limited gains. But repetition trumps that, I suppose.

I started trading this way when I first started demo trading at Oanda 6 months ago & before I had even looked into trading methods on the forums. I keep coming back to it after trying various other methods & tf's because it works for me. I can reliably add about 1-2% (account value) per hour in the right PA. I suppose the brevity of the trades fits my personality, above all: I can not be trusted not to screw up trades on longer tf's. I probably have ADHD, OCD, and all the rest, and I tend to do best when I am focused in the extreme & scalping on the short tf's requires this.

I think there are certain pairs (EUR/CHF, E/G, AUD/NZD) that offer ranging volatile PA where short targets might be more reliably and perhaps mechanically achieved, but I have not ventured there & have stuck to E/U because of (of course) its lowest spread.

The Fool · #10 Nov 5, 2009 4:10am

Like so. 2 hours and the night shift is over with a 3.1% increase for the account. About 22 pips net. Couple losers or so no more than 2 pips each & the rest winners 1-4 pips each. Entries all on the 10-sec chart. At the size I'm trading a 2-pip loss is 0.3% account risk. Repeat forever and increase the trade size in proportion to the compounding account size until the broker starts jiggering the platform & then its back to picking up cans, I guess....

lsubeano · #11 Nov 5, 2009 4:23am

I am curious if anyone is consistent with anything less than a 1 min time. I believe its possiible (anything is possible right?).
I scalp off 1min time frame off of mass emotions, specially gbp.usd. and patterns...
there are patterns everywhere....
the market runs up....then down....then down more, takes out stops and lingers a while, the fakes out and runs up.....i like those setups.
on a 10sec time frame i could see how 1-3 pips is there but what is a good stoploss and m/m???
risk 5 pips at 200:1 leverage for 1-2pips? with 90% accuracy 3 or 4 losers in a row would piss me off and lose my butt.
The biggest prob. I've experienced with scalping is if i go for say 5-8 pips and I risk 10....the m/m isn't too amazing and if it's volitile, even if my judgement is correct I may be stopped out....
I've never had a stop of 5pips or less, but I imagine getting stopped out with 5pip stopless (which is actually like 3...3 1/2 with commission) would happen often.
is anyone doing is consistent???
isn't the whole point of scalping is to load up leverage and be in and out???? high prob setups?
I like many know you can be right 8 out of 10 times and still lose $$$