Central Banks & Big Players

well for scalping spot fx, which is what I do, your goal is to be with an ECN with the lowest spreads possible, especially if your trading high lots. Real white label ECN's with a CNX platform, or better yet a Prime Broker or Bank. You need starting capital to fund these accounts, I think the best, lowest minimum account deposit for a real ECN is something like 20k-40k. You can see market depth with this caliber of broker, level II. I don't use these brokers yet so i can't give you the details but I know a few who are using them. I

You can scalp profitably on oanda or fxcm or whatever, but these brokers won't handle 10-20 lots on one trade... I don't think you can get filled unless you have the liquidity pools that those brokers offer you. With these brokers, you can see market depth for sure.

btw, I never have a TP level, this doesn't work for me... Tony's method is good and you can definitely make big profits, but I take what the market gives me on every trade... if it's a big move it will keep setting up for me anyway, so I just ride the wave until it has signs of turning around. I am only looking for a good 5-10 ticks per day, that's all you need when taking scalping positions with at least 20:1 leverage, I go for the HP A++ setups and use max leverage. I usually get more than 5-10 ticks, but thats all I am looking for because I am preparing myself to trade $100-$200 per tick. If its a ranging market, I really choke up on the TP's, any stall point pretty much.

I wont need to watch the market all day, 1-2 hours tops. I trade any session.

Hey, if the market has good direction and you have a nice opportunity for a HP 100tick run... this is when I would use this method, but I think I would at least be taking partial profit along the way. I have a hard time not taking profit when I'm in it... I have a scalping mentality though, I know the next setup is around the corner, all day long. ranging market, trending market... shit market... doesn't matter. I scalp both directions anyway, with the trend and counter trend.

in general, I think scalping the forex market kicks ass.

are you using a tight SL ??? What kind of spreads are you getting currently ?
Any slippage when buying/selling 1MILs ?

I only enter under 1 pip spread on eurusd, 1.5-3 on GU, same with EJ. I don't currently trade 1million, but it depends on volume in the market. What I meant was, I will be trading 1-2million in the future if all goes well and I know there are people that do. I only trade $3-$5 ticks as of right now. You wont' have much of a problem trading 1million during NY or London sessions with true ECN brokers. Might get some partial fills and stuff, but when there's volume, you would be fine for more than 1million.

my stop loss is super tight, no more than 3 ticks. I never take breaks really. I trade break outs, but not on the break... that's way too risky for me, i take some minor breaks though depending on many things.

I got lost in the posts I didn't read anything sorry too busy

Hi Monroe,
thank you for answer. True ECN STP broker is Ducascopy but your minimum account have to be at least 15 000 USD if you want good ratio between price/power because of commision (in lower account). You can trade 1 M. Ducascopy has the biggest liquidity (hey i am not partner of ducascopy). But i know that this is reliable broker to trade with tight stops and big volume.

Here is a breakout scalp for example, as you see I get in before the break... I take profit on the first sign of a turnaround. this stalled for too long at a s/r area, I took profit. I wait for the next short or counter trade this from here depending on price action. If it doesn't give me a nice tight setup, I don't trade it.

where are my 10 pip bars!!!!!!!!!!!!!!!!?

look for it soon...

I know this might sound weird to some normal people around me but I actually enjoy watching my chart more than an action movie or a premiere at the movies. People have a hard time understanding this. I guess they are normal people and I'm not. It's so funny to hear them refer to this as gambling. Ignorant A**holes that have no clue of anything and can't even spell business or management.

Hi tony,
0300 EST coming up soon
SETTINGS:

- 5 SEC. CHART. SURVEILLANCE
from:8:00:00 am to 10:00:00 am NY EST TIME (NY open) and
from: 3:00:00 am to 5:00:00 am NY EST TIME (London open)

- GBP/USD, EUR/USD PAIRS ONLY

- WAIT FOR A ">8 pips 5 second candle", ENTER IN THAT DIRECTION

- STOP-LOSS is set at MAX 3 pips

- TAKE-PROFIT is set at MIN 120 pips

- Reduce STOP-LOSS to 0 pips as soon as you are +8 pips in profit

Any changes to the settings?
Am watching it at 3

That is what is great about the lower time frames.. price ACTION, literally...

2nite I'm watching all night I love it i just love this iii love to watch this chart it's my first wife

I like to say look for the short, but I don't like how we fully retraced the move here...

look for a 10 pip bar that's it or at least 8

3, 2, 1 action! feel it right now you can feel the market breathe


yea and that's the only system where you can get this feeling.... try this on a 4h chart lol

indeed

I have now hired 2 people working for me at home so I don't have to do ANYTHING at all, I just watch my charts and sleep no joke the best investment I've ever done

Tony so most probably we might get the 8-10 pip move once the london session starts right?....sorry I am just new here....have gone through your thread (not fully as yet but have a feel for it I think)....

WOW! i'VE REACHED MY 1000 POST !!!!