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  • #3,321
  • Nov 7, 2007 6:01am Nov 7, 2007 6:01am
Quoting larry081721
Hello guys,
Larry
Hi Lary,

1. Why not to trade from Oanda charts?
2. I guess 30 sec. chart could be similar to 10-15 ticks with TS (Gain) feed.

I do not know how would scalping work with futures. There might be problem trading multiple contracts. Maybe someone has experiences..
  • #3,322
  • Nov 7, 2007 6:06am Nov 7, 2007 6:06am
easy money... :
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  • #3,323
  • Nov 7, 2007 6:28am Nov 7, 2007 6:28am
Is Interactive Brokers any good for scalping? They seem to have very low commissions (if not the lowest).
  • #3,324
  • Nov 7, 2007 6:34am Nov 7, 2007 6:34am
Hi everyone,

since 48hourse I'm reading this thread...

for now, i've buyed the book, and set up my ensign screen... i want to trade 10-5 ticks... Because i like Stochastics i' added to my screen set up... for the next days i only want to watch thru the wave and how to ride it... seein much opportunities to grab pips off and try then to learn golfing... for last time i play Shot Online...

This seems to be the easist way to grab the money... no thinking, no nervously... IN OUT HAPPY...

So thanks to LT and other surfers here for all comments and postings before, it make the thing easier as is as...

Sorry fpr my english...

Catch the Wave
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  • #3,325
  • Nov 7, 2007 6:38am Nov 7, 2007 6:38am
Quoting atomz
Hi Lary,

1. Why not to trade from Oanda charts?
2. I guess 30 sec. chart could be similar to 10-15 ticks with TS (Gain) feed.

I do not know how would scalping work with futures. There might be problem trading multiple contracts. Maybe someone has experiences..
Last time I traded futures contracts was with the S&P minis and Dow minis. I saw orders of up to 200 contracts get filled at least a few times every minute. A contract in FX futures is 125,000 units of currency.

Granted, I haven't looked at the liquidity of FX futures, or even futures in a while, but I'm guessing if 100-200 contracts can go through easily... that's pretty huge.

The problem I see with FX futures is the overnight (ie: outside US market hours) session. I'm not sure what the liquidity is like, and the leverage is cut in half during this period.
  • #3,326
  • Nov 7, 2007 6:42am Nov 7, 2007 6:42am
Quoting DrainBamage
Is Interactive Brokers any good for scalping? They seem to have very low commissions (if not the lowest).
I've heard good things about them when I traded futures, as a lot of people preferred them as a broker. However, they have lower leverage and maximum order sizes than EFX, and their platform is much to be desired. IB has been in the API business from day one, so you pretty much need a plug-in platform to trade well with them.
  • #3,327
  • Nov 7, 2007 6:57am Nov 7, 2007 6:57am
Quoting bluebuddha
I've heard good things about them when I traded futures, as a lot of people preferred them as a broker. However, they have lower leverage and maximum order sizes than EFX, and their platform is much to be desired. IB has been in the API business from day one, so you pretty much need a plug-in platform to trade well with them.
and you can scalp with button trader too... but 5K for initial account...
  • #3,328
  • Nov 7, 2007 6:59am Nov 7, 2007 6:59am
Quoting bluebuddha
Last time I traded futures contracts was with the S&P minis and Dow minis. I saw orders of up to 200 contracts get filled at least a few times every minute. A contract in FX futures is 125,000 units of currency.

Granted, I haven't looked at the liquidity of FX futures, or even futures in a while, but I'm guessing if 100-200 contracts can go through easily... that's pretty huge.

The problem I see with FX futures is the overnight (ie: outside US market hours) session. I'm not sure what the liquidity is like, and the leverage is cut in half during this period.
I remember Woodie talked about ForEx and Futures a couple of years ago... ForEx have high liquidity... If I find that article, I will post the link here...
  • #3,329
  • Nov 7, 2007 8:47am Nov 7, 2007 8:47am
It's been an enjoyable morning... 32 pips profit so far including losses on the EUR.
Definitly better than yesterday, should have had more but I'm still learning not to hesitate. The mind is a strange thing...
I gave up looking at pips profit and just read the market for my exit.
  • #3,330
  • Nov 7, 2007 9:03am Nov 7, 2007 9:03am
I understand nothing about level II, I would like to know what it means the size. for example in this screenshot we see bid size of 100 and ask size of 700, these numbers are mini lot or regular lot?

thanks
Attached Image
  • #3,331
  • Nov 7, 2007 9:18am Nov 7, 2007 9:18am
Level II - ItalianFX

When I watched a Currenex platform, there 1 meant 1 million. I don t know this platform, but it looks less than that. Best to ask them what is what.
Laszlo
  • #3,332
  • Nov 7, 2007 9:26am Nov 7, 2007 9:26am
Quoting italianfx
I understand nothing about level II, I would like to know what it means the size. for example in this screenshot we see bid size of 100 and ask size of 700, these numbers are mini lot or regular lot?

thanks
That looks like a screenshot from EFX... right? Anyway, I think they do it in 10k sizes (mini lots). There may be a setting to change that or at least tell you what the size is somewhere in the help section.

As for Level II quotes, what you generally look for is to compare the volumes of the prices above/below current price. The side with the higher volume tends to have more resistance, as there needs to be more trades to take out those orders.
  • #3,333
  • Nov 7, 2007 9:31am Nov 7, 2007 9:31am
Quoting linuxtroll
and you can scalp with button trader too... but 5K for initial account...
Yes... I looked at button trader's website a few weeks ago. Looks really nice.
  • #3,334
  • Nov 7, 2007 9:33am Nov 7, 2007 9:33am
I think 700 is 70 real lots. Apparently there is more liquidity available by the banks than displayed, but Justin didn't really answer exactly how much more... apparently it is just what banks "chose" to show. Plus I'm assuming also EFX & MB customers orders.
  • #3,335
  • Nov 7, 2007 9:45am Nov 7, 2007 9:45am
Quoting lacika
Level II - ItalianFX

When I watched a Currenex platform, there 1 meant 1 million. I don t know this platform, but it looks less than that. Best to ask them what is what.
Laszlo

ok I asked to them and they said the size is in minilot, so in my screenshot 100 is 100 minis so 10 regular lot.
Forex can be a high liquidity market but if we have a low liquidity provider like this EFX we cannot profit from Forex liquidity, now I start to understand why I get slippage so often also with my minis.
Forex as we know is not a centralized market so we do not buy and sell on the whole Forex market but from few banks to wich our broker is connected, they are not bucket shops like others market makers but a kind of I think!

Linuxtroll tell me if I'm wrong maybe I did not understand how all this works

thanks
  • #3,336
  • Nov 7, 2007 10:32am Nov 7, 2007 10:32am
Quoting bluebuddha
Last time I traded futures contracts was with the S&P minis and Dow minis. I saw orders of up to 200 contracts get filled at least a few times every minute. A contract in FX futures is 125,000 units of currency.

Granted, I haven't looked at the liquidity of FX futures, or even futures in a while, but I'm guessing if 100-200 contracts can go through easily... that's pretty huge.

The problem I see with FX futures is the overnight (ie: outside US market hours) session. I'm not sure what the liquidity is like, and the leverage is cut in half during this period.
Actually the best time to trade Fx futures is not the US market hours but the European hours... Liquidity is not an issue at all except when europe and the us are close (like in forex), even if you trade more than 10 contracts which is not the case for small investor (more than that is ridicoulus ... In order to trade 200 contracts in the Eur/Us cross meaning= $2000 per pip move ... lol ... you will need $250.000 in your account... )

jjrvat
  • #3,337
  • Nov 7, 2007 11:45am Nov 7, 2007 11:45am
Hello,

In button trader mentions that if you want to paper-trade with real feed you must have an account with intractive brokers.
The interactive brokers are ecn or broker like oanda?
What about the spread and commisions ?Anyone know them?

Thanks

B
Learn something difficult and earn real money for ever, a lot.
  • #3,338
  • Nov 7, 2007 1:13pm Nov 7, 2007 1:13pm
Quoting Blazer
Hello,

In button trader mentions that if you want to paper-trade with real feed you must have an account with intractive brokers.
The interactive brokers are ecn or broker like oanda?
What about the spread and commisions ?Anyone know them?

Thanks

B
IB are an ECN, the spread like any ECN fluctuates, but on the EUR/JPY is usually 1-2 pips. Commissions are here http://individuals.interactivebroker...?ib_entity=llc
The breaking of a wave cannot explain the whole sea.
  • #3,339
  • Nov 7, 2007 1:23pm Nov 7, 2007 1:23pm
Quoting ycomp
I think 700 is 70 real lots. Apparently there is more liquidity available by the banks than displayed, but Justin didn't really answer exactly how much more... apparently it is just what banks "chose" to show. Plus I'm assuming also EFX & MB customers orders.
Is it reasonable to assume that even though MB(?)/EFX Level II isn't completely transparent.
You're seeing a big enough sample to give you about the same end result as seeing all the banks transactions?

Not sure if I'm asking my question correctly. LOL
  • #3,340
  • Nov 7, 2007 1:35pm Nov 7, 2007 1:35pm
How many people are strictly playing the break of the asian session with the Euro?
It seems to be a workable strategy when using the next round number (0s and 5s) outside the range as a buy/sell point. The pair always has a tight spread and makes decent moves. Not sure about a good sl/tp though.
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