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Scalping systems with 20+ trades per pair daily

  • #21
  • May 23, 2011 3:49am May 23, 2011 3:49am
Quoting Custos
yes, but in the end, that lot size is again only relative to your account size. The other poster claimed that scalping is only possible with a big account. But other than getting smaller profits with smaller accounts, I don't understand why a big account is required to scalp profitably.
I personally believe( may it's not correct) but big moving of price is one of the best time for scalping and most of the time you face with opposite direction at the time of opening UR position and most of scalpers don't like to trade with low LOT and want to get high profit in a very short time so you need a big account to satisfy U for trading.
It's ok if you want to scalp you can do it with small account but the amount you get won't satisfy you(it's mostly mentally than strategy)
Just check my signals with your experience then decide, please,
  • #22
  • May 23, 2011 3:56am May 23, 2011 3:56am
Quoting majorusa
I am not claiming anything. The only thing that I am saying is that trading is not about pips, it is about money. In scalping you can make a ton of pips without making any money. And to illustrate this, in Dukascopy the minimal entry is 1000 USD, this means 0.1USD/pip. Let's suppose that you close your trade in 5 pips. This is a 2.5 USD gross gain because you have to subtract commissions too. You make 20 trades a day. Meaning 100 pips but only 25 USD. Can you live out of 25 USD?
As far as I am concerned, it's about the pips, not about the money. If you compound your way up, you can also take a 500$ account into millions of dollars. You just need to be net profitable in terms of pips (after trading costs).
I would think that people not only wanna live on their profits but use them to increase their account. I think you can start with any amount, as long as you have patience and a profitable system, you can make vast amounts of money. (Of course in the meantime you would need another job until the compounding got you into the big money)
  • #23
  • May 23, 2011 4:02am May 23, 2011 4:02am
Quoting majorusa
I am not claiming anything. The only thing that I am saying is that trading is not about pips, it is about money. In scalping you can make a ton of pips without making any money. And to illustrate this, in Dukascopy the minimal entry is 1000 USD, this means 0.1USD/pip. Let's suppose that you close your trade in 5 pips. This is a 2.5 USD gross gain because you have to subtract commissions too. You make 20 trades a day. Meaning 100 pips but only 25 USD. Can you live out of 25 USD?
what a load of crap! scalping isn't about making a ton of pips, or a ton of money. TRADING is about making a ton of pips and money! scalping has nothing to do with it.

it's right about now that custos should pipe-up with his compounding spiel, and it's about now that it's most appropriate. no one is going to make 25 dollars a day until the end of time. how utterly ridiculous.
Congratulations ScalaFX for coming out of the closet!
  • #24
  • May 23, 2011 4:04am May 23, 2011 4:04am
Quoting nubcake
it's right about now that custos should pipe-up with his compounding spiel, and it's about now that it's most appropriate. no one is going to make 25 dollars a day until the end of time. how utterly ridiculous.
haha, you know me already well.
  • #25
  • May 23, 2011 4:05am May 23, 2011 4:05am
Quoting Custos
As far as I am concerned, it's about the pips, not about the money. If you compound your way up, you can also take a 500$ account into millions of dollars. You just need to be net profitable in terms of pips (after trading costs).
I would think that people not only wanna live on their profits but use them to increase their account. I think you can start with any amount, as long as you have patience and a profitable system, you can make vast amounts of money. (Of course in the meantime you would need another job until the compounding got you into...
hahaha. perfect timing
Congratulations ScalaFX for coming out of the closet!
  • #26
  • May 23, 2011 4:21am May 23, 2011 4:21am
Quoting Roofx
Yes, that's exactly it. I'm used to trading with inverse risk reward ratios of 2:1 and getting a high hit rate but I want to trade more often for less gain per trade. My transaction cost for EU is less than 2 pips including spread and commission on the FXCM active trader platform. I have heard of scalpers looking for just 40 or 50 cents per trade but taking hundreds of trades per day, but how?
the scalpers using 100s of trades per day may be using a grid strategy. from what I have read this involves using a sub account and taking opposite orders simultaneously, closing when you are in profit on each side. your p/l is always negative on each account but your net value is constantly increasing from taking profits. as price will fluctuate between levels, they are hedged between their least profitable orders and thier most profitable orders. you can get the best explanation from a quick google search.
  • #27
  • May 23, 2011 4:26am May 23, 2011 4:26am
Quoting XxLessoxX
the scalpers using 100s of trades per day may be using a grid strategy. from what I have read this involves using a sub account and taking opposite orders simultaneously, closing when you are in profit on each side. your p/l is always negative on each account but your net value is constantly increasing from taking profits. as price will fluctuate between levels, they are hedged between their least profitable orders and thier most profitable orders. you can get the best explanation from a quick google search.
wow. what is it with this thread? is it sponsored by jim henson?
Congratulations ScalaFX for coming out of the closet!
  • #28
  • May 23, 2011 4:28am May 23, 2011 4:28am
That's the problem with scalping, takes lots of discipline.
  • #29
  • May 23, 2011 4:29am May 23, 2011 4:29am
Quoting nubcake
wow. what is it with this thread? is it sponsored by jim henson?
Who's Jim Henson?
  • #30
  • May 23, 2011 5:32am May 23, 2011 5:32am
Quoting nubcake
no one is going to make 25 dollars a day until the end of time. how utterly ridiculous.
You are right. If you read carefully FF you will see that are a lot of traders that would be very happy to make 25 USD per day profit instead of loss. Or if you count the pips 100 positive pips instead of the negative ones that they are making right now.

And by the way, in the last couple of hours my pip count reached 80 pips. Green ones.
If you're not part of the solution then you're part of the problem.
  • #31
  • May 23, 2011 5:33am May 23, 2011 5:33am
Quoting Tania
I personally believe( may it's not correct) but big moving of price is one of the best time for scalping and most of the time you face with opposite direction at the time of opening UR position and most of scalpers don't like to trade with low LOT and want to get high profit in a very short time so you need a big account to satisfy U for trading.
It's ok if you want to scalp you can do it with small account but the amount you get won't satisfy you(it's mostly mentally than strategy)
Thank you. You read my mind.
If you're not part of the solution then you're part of the problem.
  • #32
  • May 23, 2011 5:42am May 23, 2011 5:42am
Quoting majorusa
You are right. If you read carefully FF you will see that are a lot of traders that would be very happy to make 25 USD per day profit instead of loss. Or if you count the pips 100 positive pips instead of the negative ones that they are making right now.

And by the way, in the last couple of hours my pip count reached 80 pips. Green ones.
i don't think you get what i am saying.

no one is going to ONLY make 25 bux for the rest of their life. good for you and your green pips, but who cares and why is this relevant to anything or anyone (it's not)? if you know what you are doing then you can start with a few grand starting capital and simply build it up. if you know what you are doing those 25 bux become more than 25 bux.

if you have a clue then the world is your oyster, else you are just poncing around like everyone else.

another pointless post.
Congratulations ScalaFX for coming out of the closet!
  • #33
  • May 23, 2011 5:52am May 23, 2011 5:52am
Quoting nubcake
i don't think you get what i am saying.

no one is going to ONLY make 25 bux for the rest of their life. good for you and your green pips, but who cares and why is this relevant to anything or anyone (it's not)? if you know what you are doing then you can start with a few grand starting capital and simply build it up. if you know what you are doing those 25 bux become more than 25 bux.

if you have a clue then the world is your oyster, else you are just poncing around like everyone else.

another pointless post.
your post reflects my thoughts exactly.
  • #34
  • May 23, 2011 6:49am May 23, 2011 6:49am
Thanks for the input guys although we did stray a little off topic. I agree with those that say it's simply about pips, not money. It's about percentage growth. If you have $100k in your account and can do nothing more than break even that 100k is doing nothing for you. If you have $100 in your account and can consistently make more than you lose you account will be growing. If you are averaging just $1 of net profit per day it may sound like a waste of time but that $1 is 1% account growth per day, and that is an excellent rate of return! That $100 account will grow slowly to the point where the average daily net profit actually starts to mean something. Eventually that 1% will be enough to live on and jack in the day job.

Of course if you can already make those kinds of returns and you start with $100k account the process of living from your trading is instant.

Getting back to my original question. For those who are making dozens of trades per day could you explain a bit more about your method?

Thanks for the recommendation to research grid trading. I've heard of this but don't understand how it works. Do you have a good source for reading?
  • #35
  • May 23, 2011 6:50am May 23, 2011 6:50am
Quoting nubcake
i don't think you get what i am saying.

no one is going to ONLY make 25 bux for the rest of their life....
another pointless post.
Who said that? What I am saying is that having a small equity and gaining small USD per trade eventually will depress you. You will get fed up being right making pips and seeing your account grow in ant steps. Believe me. Been there done that. You can scalp with whatever equity you want. But in my opinion is better to have a larger equity.

Also scalping is a full time job. Who believes that will scalp 30 minutes after job while kids are screaming around him and he will make a ton of money is a dreamer.

And for the pointless thing, I am always glad to be judged by a lot of thinkers with peanut size equities but large egos.
If you're not part of the solution then you're part of the problem.
  • #36
  • May 23, 2011 7:05am May 23, 2011 7:05am
Quoting majorusa
Who said that? What I am saying is that having a small equity and gaining small USD per trade eventually will depress you. You will get fed up being right making pips and seeing your account grow in ant steps. Believe me. Been there done that. You can scalp with whatever equity you want. But in my opinion is better to have a larger equity.
your posts imply it.

one should not give a damn if they only made peanuts from a few more peanuts. if someone knows what they are doing then they will compound those profits and quickly make it meaningful... and if this isn't possible then the person is a poser wasting their time.

Quote
Also scalping is a full time job. Who believes that will scalp 30 minutes after job while kids are screaming around him and he will make a ton of money is a dreamer.
yeah, um, again why are you seemingly pushing your own agenda and boundaries and lifestyle etc into this thread? not everyone has to work for the man, and not everyone lives where the market is open during work hours. step outside of your own little world.

Quote
And for the pointless thing, I am always glad to be judged by a lot of thinkers with peanut size equities but large egos.

stop speaking garbage and maybe you will be judged more favorably. seems fair, no?

if you are as good as it seems you would want people to think then by all means add something regarding scalping that is meaningful, else we can just keep going round in circles if you like.
Congratulations ScalaFX for coming out of the closet!
  • #37
  • May 23, 2011 8:15am May 23, 2011 8:15am
Quoting majorusa
Who said that? What I am saying is that having a small equity and gaining small USD per trade eventually will depress you. You will get fed up being right making pips and seeing your account grow in ant steps. Believe me. Been there done that. You can scalp with whatever equity you want. But in my opinion is better to have a larger equity.
now that makes more sense to me. Having a larger equity is better, but ABSOLUTELY NOT required, as you stated in your first post.

Quoting majorusa
Also scalping is a full time job. Who believes that will scalp 30 minutes after job while kids are screaming around him and he will make a ton of money is a dreamer.
It all depends, some don't have families, some live in time-zones so that they can trade when the markets are open. And with all the technology around, one can also program their rules and automate the process of taking trades.
So, yes I would say it is certainly possible to have a day job and grow the account.

Quoting majorusa
And for the pointless thing, I am always glad to be judged by a lot of thinkers with peanut size equities but large egos.
Dude, such an attitude won't get you far here. If you have anything of value to contribute without superimposing your own life situation or unjustified beliefs on others, then do so.
  • #38
  • May 23, 2011 8:22am May 23, 2011 8:22am
This discussion - how you started Nubguy and Custos - does not lead anywhere. I cannot step outside my little world because I live in it. Everything I post here is based on my own experience. I do not quote from books and seminars. Therefore this is my opinion.

I trade for a living. I trade from London open until I close all the positions. Usually is London close, but also can be later. Very rarely I leave positions opened overnight. And Custos you were right. You may trade London if you live on the other side of the world and you just came back from work. I was wrong on that. Kudos to you.

Roofx wants to know the method. Because of my little world I know only my method. And is really simple. Today I traded only longs on EU, GU and aussie. I started a bit late but could see that the price was falling a lot. So I found where the most likely support will be and entered there long. The result was 153 pips, all winners. The number of trades was 27 in 4 hours. My first trade was at 9.40 GMT and my last 20 minutes ago.

How to determine where the support is? Look on daily and see where the price changed direction. Draw some moving averages, trend lines, use fibonacci. FF is a good place to learn this.

In terms of method Roofx, what you should do is to find how much risk you want to take and where to stop the trade if you were wrong. It took me half a year just to figure that. But hey, it is my little world and I can do whatever I want in it.

Good luck.
If you're not part of the solution then you're part of the problem.
  • #39
  • May 23, 2011 9:11am May 23, 2011 9:11am
Quoting Roofx
I shared some of my systems on the forum and now I'm hoping some of you can share or point me towards some scalping systems where a high number of trades are taken on a pair each day in the aim of a net positive result at the end of the day.

I used to trade my own M1 strategy that involved 10+ trades on EURUSD daily but it was only profitable for a few months.

I can trade the M5 charts and make money but I have a huge interest in the higher frequency trading styles and would like to learn how to better trade in that style.

If anyone can point...
I find this odd, wouldn't be better to have a short term system that netted one trade of 20-30 pips? I would would prefer that then exposing myself to all the potential risk of 20 trades.

I know which one the brokers would prefer you take.

  • #40
  • May 23, 2011 9:47am May 23, 2011 9:47am
Quoting >Apocalypto<
I find this odd, wouldn't be better to have a short term system that netted one trade of 20-30 pips? I would would prefer that then exposing myself to all the potential risk of 20 trades.

I know which one the brokers would prefer you take.

that makes no sense. wouldn't you rather the feedback of more trades over time than have to hope and pray over less trades giving less feedback over a longer timeframe?

a golfer hitting a hole in one doesn't make a great golfer. a golfer who hits under par each and every game is.
Congratulations ScalaFX for coming out of the closet!
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