Linuxtroll Simple Scalping | Page 163 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Simple Scalping System 64 replies

xPip Simple Scalping 27 replies

Attachments: Linuxtroll Simple Scalping
Exit Attachments

Linuxtroll Simple Scalping

  • #3,241
  • Nov 3, 2007 5:22pm Nov 3, 2007 5:22pm
Quoting ycomp
BB, what does it mean when someone like DukasCopy adverstises 100 mil @ 1 click? (1000 real lots)

I mean how much would someone get slipped in EURUSD? EURJPY? during europe

I've always wondered about that... obviously I don't need to make sure trades, but still would like to know the answer.
All it means is they allow orders up to a maximum of 100 million units each time you click the button. Most brokers set their maximums at lower volumes (ie: 10 million units @ Oanda, ~6 million USD @ Interactive Brokers).

As to how much you will get slipped for a 100 million unit order... well you have to see how much volume is available on the market during a typical day. Unfortunately, I haven't opened an account at an ECN broker yet (I'm probably going with IB in a few months, because I also like to trade stocks/futures), so I'm not sure about the exact volume available. But from screenshots of IB and EFX/MBTrading feeds, the EUR/USD seems to have a volume of around 20-30 million on the bid/ask.
  • #3,242
  • Nov 3, 2007 5:34pm Nov 3, 2007 5:34pm
Quoting linuxtroll
Trollmann is working on it... Got a pure real-time feed already... Need a web-based software (open source would be great) and some programming time to integrate the feeds - web based 10 sec Cyrox Rainbow chart running 24/7 with high-probability buy/sell zone from my formula - so that serious scalpers can access it via Internet and Mobile devices and trade on their chosen broker or platform... Pure feed gives you correct picture and direction - so that easy to identify and compensate for Market Maker and Broker's manipulation... More solid money... LoL
Very glad to hear this..
No one can't stop you from helping people and making money and playing golf ... Ha?

Thanks LT
--------
Ed
  • #3,243
  • Nov 3, 2007 7:09pm Nov 3, 2007 7:09pm
Quoting edking
Very glad to hear this..
No one can't stop you from helping people and making money and playing golf ... Ha?

Thanks LT
--------
Ed
Absolutely King...
  • #3,244
  • Edited 7:37pm Nov 3, 2007 7:19pm | Edited 7:37pm
Quoting RickJames300
Hey LT - are there really any issues to be aware of when your
compounded pips get to be > $500 ? I've tried asking on other
forums and I can't seem to get a straight answer - specifically,
do you get targeted by larger institutions/your broker/alien spacecraft
trying to move the market against you, or is this just paranoia?

Sorry it's slightly off topic, but you are such a straight shooter
about everything else, I thought I'd give it a shot - if there's
another thread I should be reading, please anyone, let me know...

Thanks!
RJ
No Issues -- if you are trading through ECNs similar to Currenex or CAX (Check the orderflow -- not easy to manipulate)... Another reason to be a scalper... because no one can guess your next move... and you can always slice your lots according to what you see on the Level II)...

Market Makers - yes -- many issues... and most of them will trade against you and they do not have enough liquidity to fill your order etc...

So check your broker's feed and platform before you deposit your money there... Watch their Orderbook...
  • #3,245
  • Edited 9:33pm Nov 3, 2007 9:22pm | Edited 9:33pm
Quoting linuxtroll
Trollmann is working on it... Got a pure real-time feed already... Need a web-based software (open source would be great) and some programming time to integrate the feeds - web based 10 sec Cyrox Rainbow chart running 24/7 with high-probability buy/sell zone from my formula - so that serious scalpers can access it via Internet and Mobile devices and trade on their chosen broker or platform... Pure feed gives you correct picture and direction - so that easy to identify and compensate for Market Maker and Broker's manipulation... More solid money... LoL
Once again. As in the release of your e-book, you have us all anxiously waiting this next development/level.
GREAT!!!
  • #3,246
  • Nov 4, 2007 2:16pm Nov 4, 2007 2:16pm
Thanks for the replies guys; very informative....that's
what I wanted to know! Great people on this thread...
RJ
  • #3,247
  • Nov 4, 2007 2:52pm Nov 4, 2007 2:52pm
Quoting linuxtroll
5 sec or 10 sec chart...
Average price line (Yellow) - No candlesticks please...
wma 5, 10, 15, 20 (Yellow)
wma 30, 40, 50, 60, 70, 80, 90, 100, 110, 120, 130(Grey)
wma 140, 142, 144 (White)
Wonderful Rainbow Setup!
All ready for surfing pip-waves.

I see a great week ahead!
  • #3,248
  • Nov 4, 2007 5:55pm Nov 4, 2007 5:55pm
Quoting bluebuddha
Well, $500/pip on any XXX/USD pair is 5 million units. If you look at an open book or volume information on an ECN feed, on some pairs, the 5 million units simply aren't there for you to clear your trade.

Every buyer needs to be matched up with a seller, and vice-a-versa. On an open book, the price levels above have volumes of open orders (ie: Limit orders) of people that want to sell, and the prices below have volumes of open orders of where people want to buy. The highest of the trades that people are wanting to buy is the bid, and the lowest of the trades that people are wanting to sell is the ask... it's how it works in every market in the world: stocks, commodities, bonds, whatever. Because you need to match your trade with an opposite position out there, you're forced to sell the bid and buy the ask.

So let's say you shorted 5 million units of XXX/YYY, and now you want to dump that position (ie: buy it back), and the open book looks like this:

123.15 (bid) x 2,500k
123.16 (ask) x 3,000k
123.17 x 1,500k
123.18 x 1,000k
123.19 x 525k

As soon as you click the "buy market" button, the price is going to instantly jump up two pips, because you took that much volume out of the market. In fact, you got filled for 123.16 @ 3 million units, 123.17 @ 1.5 million units, and 123.18 @ 0.5 million units.

So once you get into higher volumes its going to be more difficult to make precise take profits and stop loss orders because the liquidity is not there. The dealing desk brokers don't like it when you get into huge volumes like this because you wind up moving the market too quickly for them to price their commissions into the spread.
Bluebuddah,
Thanks for your explanation. As newbie papertrader scalper, I am interested in all things useful in forex info. Which ECN brokers give tradebook figures? Where is there more info on this?
  • #3,249
  • Nov 4, 2007 6:57pm Nov 4, 2007 6:57pm
Quoting sleepdoc
Bluebuddah,
Thanks for your explanation. As newbie papertrader scalper, I am interested in all things useful in forex info. Which ECN brokers give tradebook figures? Where is there more info on this?
Just about any ECN broker should give you an open book (aka: Level II quotes)... or at the very least, the volume info on the bid and ask prices. As far as I know, there are only four ECN brokers out there... yep, all the rest are dealing desks*.

EFX (MBTrading is parent company): http://www.efxgroup.com/
Interactive Brokers: http://www.interactivebrokers.com/ibg/main.php
DukasCopy: http://www.dukascopy.com/
HotSpotFX: http://www.hotspotfx.com/main.jsp


* DDs basically make up their own quotes in order to price a commission into the spread. The tell tale signs of a dealing desk broker: no volume information, boast "free" commissions, usually have a fixed spread, and sometimes offer leverage greater than 1:100. They can do this because this is no centralized exchange or market in FX.
  • #3,250
  • Nov 4, 2007 7:24pm Nov 4, 2007 7:24pm
Quoting bluebuddha
Just about any ECN broker should give you an open book (aka: Level II quotes)... or at the very least, the volume info on the bid and ask prices. As far as I know, there are only four ECN brokers out there... yep, all the rest are dealing desks*.

EFX (MBTrading is parent company): http://www.efxgroup.com/
Interactive Brokers: http://www.interactivebrokers.com/ibg/main.php
DukasCopy: http://www.dukascopy.com/
HotSpotFX: http://www.hotspotfx.com/main.jsp


* DDs basically make up their own quotes in order to price a commission into the spread. The tell tale signs of a dealing desk broker: no volume information, boast "free" commissions, usually have a fixed spread, and sometimes offer leverage greater than 1:100. They can do this because this is no centralized exchange or market in FX.
There are so many ECNs available... All Currenex brokers, CAX etc...
  • #3,251
  • Edited 7:47pm Nov 4, 2007 7:25pm | Edited 7:47pm
Target reached for the day?...
Attached Image (click to enlarge)
Click to Enlarge Name: 10sec.png Size: 9 KB
  • #3,252
  • Edited 7:58pm Nov 4, 2007 7:33pm | Edited 7:58pm
v-line 5 min; h-line 10 pips -- All you need a 5 min scalp? LoL ...
Attached Image (click to enlarge)
Click to Enlarge Name: 10sec.png Size: 14 KB
  • #3,253
  • Nov 4, 2007 7:48pm Nov 4, 2007 7:48pm
Quoting linuxtroll
...
Surfing 5 sec. candlewaves, LT?
  • #3,254
  • Nov 4, 2007 7:50pm Nov 4, 2007 7:50pm
Quoting FXSurfer
Surfing 5 sec. candlewaves, LT?
10 sec to cut the noise... Check the v-line (5 min)... How is the CCI Rainbow?
  • #3,255
  • Nov 4, 2007 8:03pm Nov 4, 2007 8:03pm
Quoting linuxtroll
10 sec to cut the noise... Check the v-line (5 min)... How is the CCI Rainbow?
10 sec. looks great!

Here's the OANDA 5 sec. version of CCI Rainbow.
It's a rainbow meter/training wheels for El Presidente. LOL

Have a great week, LT!
Attached Image (click to enlarge)
Click to Enlarge Name: cci rainbow.jpg Size: 157 KB
  • #3,256
  • Nov 4, 2007 8:10pm Nov 4, 2007 8:10pm
Quoting FXSurfer
10 sec. looks great!

Here's the OANDA 5 sec. version of CCI Rainbow.
It's a rainbow meter/training wheels for El Presidente. LOL

Have a great week, LT!
Yes... Thanks... Charge on...
  • #3,257
  • Nov 4, 2007 8:38pm Nov 4, 2007 8:38pm
Quoting FXSurfer
rainbow meter/training wheels for El Presidente.
I meant, of course, for me (LTSS Fan Club President).
You obviously don't need a tool to help you understand
the dynamics of Rainbow. Or training wheels to keep you
from falling off! LOL
  • #3,258
  • Nov 4, 2007 10:01pm Nov 4, 2007 10:01pm
Quoting FXSurfer
I meant, of course, for me (LTSS Fan Club President).
You obviously don't need a tool to help you understand
the dynamics of Rainbow. Or training wheels to keep you
from falling off! LOL
Yes... I know... I thanked for your wishes...

I used similar CCI wheel many years ago... CCI 14 (yellow) with wma1,2,..,10 (Red) overlaid on the CCI (My Cyrox CCI Rainbow Indicator)... Try it... Way much better than Woodies CCI... LoL
Attached Image (click to enlarge)
Click to Enlarge Name: 01min.png Size: 21 KB
  • #3,259
  • Nov 4, 2007 10:47pm Nov 4, 2007 10:47pm
Quoting linuxtroll
(My Cyrox CCI Rainbow Indicator)... Try it...
A real beauty!
  • #3,260
  • Nov 5, 2007 1:10am Nov 5, 2007 1:10am
More pips everyday... :
Attached Image (click to enlarge)
Click to Enlarge Name: 10sec.png Size: 32 KB
0 traders viewing now