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Interactive Euro Scalping

  • #121
  • Mar 7, 2012 5:20am Mar 7, 2012 5:20am
do you wait a certain amount of minutes or just eyeball when you see wind has died down
All trends begin with the smallest time frame
  • #122
  • Mar 7, 2012 5:22am Mar 7, 2012 5:22am
Quoting clivepackham
Right now mines 1.4 with Vantage tends to average around 1.5 most of the time when market active.
Low trade cost is crucial to this method. I get 1-1.5 pip total transaction cost per round trip on EURUSD. If it was higher I'd have to rework my method. If we could get 0.5 pip total cost we'd be laughing! Scalping every little bump all day long!
  • #123
  • Mar 7, 2012 5:25am Mar 7, 2012 5:25am
use 4 pt stop loss most times get 8 to 10 pts profit [eurfx]
I am based in usa I look at forex chart but demos keep expiring

with futures eurfx conract rolling over on the 19 the eurfx price is very close to the eur/usd forex price [cash price]
All trends begin with the smallest time frame
  • #124
  • Mar 7, 2012 5:28am Mar 7, 2012 5:28am
Quoting qiktrader954
do you wait a certain amount of minutes or just eyeball when you see wind has died down
Attached Image
  • #125
  • Mar 7, 2012 5:29am Mar 7, 2012 5:29am
there really is no spread most of the time
but to get the best fills I always buy on limit order 1 pt above my price and sell 1 pt below my price
All trends begin with the smallest time frame
  • #126
  • Mar 7, 2012 5:30am Mar 7, 2012 5:30am
well with that eye one can definitely c when the wind has died down
All trends begin with the smallest time frame
  • #127
  • Mar 7, 2012 5:32am Mar 7, 2012 5:32am
Quoting qiktrader954
there really is no spread most of the time
but to get the best fills I always buy on limit order 1 pt above my price and sell 1 pt below my price
I've never trades futures and I don't know much about it at all. So somtimes you get no spread at all? What about commission, do you pay that each time you trade?
  • #128
  • Mar 7, 2012 5:35am Mar 7, 2012 5:35am
Quoting Roofx
I have no bias. I just look at key levels. So if not for the news I'd be hoping for a move down to 3100 for a buy or a move up to 3163 for a sell. It depends on the strength of the move, the angle, and the obviousness of the price stalling at that level if it does get there.

Yesterday we were lucky to have a nice tight range to trade but today it's not the same so I am looking at the recent extremes. A return to those recent extremes and some stalling will get me in.
I am keen to get 2:1 plus trades so like to catch the 1 minute trend especially when lines up with 5,15 & 1hr in that I seee that as a higher probability trade for 2:1 plus returns.

I'm probably not a true scalper in the true sense of the word whereas you definately are a smash and grab guy.

I'm more of a 1 minute swing trader if there is such an animal.

That being said I like the idea of trading counter trend bounces for q quick 16 pips
Feel the Fear and do it anyway!!!
  • #129
  • Mar 7, 2012 5:38am Mar 7, 2012 5:38am
yes SOMETIMES you can hit the bid or offer [ask] but I want to get filled so I give up 1 pt
the commis is 3.45 round turn including fees this means it cost 3.45 total to get in and out of 1 trader with 1 contract

obviously I put on many trades a day
All trends begin with the smallest time frame
  • #130
  • Mar 7, 2012 5:40am Mar 7, 2012 5:40am
I like this 25 level for a sell if it turns
Feel the Fear and do it anyway!!!
  • #131
  • Mar 7, 2012 5:41am Mar 7, 2012 5:41am
have to find out about skype I do not have skype account

I am 'talking' using dragon speak 11
All trends begin with the smallest time frame
  • #132
  • Mar 7, 2012 5:41am Mar 7, 2012 5:41am
Quoting clivepackham
I am keen to get 2:1 plus trades so like to catch the 1 minute trend especially when lines up with 5,15 & 1hr in that I seee that as a higher probability trade for 2:1 plus returns.

I'm probably not a true scalper in the true sense of the word whereas you definately are a smash and grab guy.

I'm more of a 1 minute swing trader if there is such an animal.

That being said I like the idea of trading counter trend bounces for q quick 16 pips
Hehehehe "a quick 16 pips" For me 16 pips is long term position trading hahaha.

I know you like to go for 1:2 RR trades, which is great. I only want 5-10 pips, never more than 10 per trade. My hit rate is high at this RR so it works well. If I went for 1:2 my hit rate would be much lower. There is a smaller chance of the market moving 20 pips in your favour than there is of it moving 10 against you. So the "I only need to be right 50% of the time, so it's just like a coin flip" mentality doesn't work. It is much harder to be right 50% of the time with a 1:2 Risk Reward ratio because the market is required to move twice as much for a win as it is for a loss, so a coin flip with 1:2 is a losing system.
  • #133
  • Mar 7, 2012 5:42am Mar 7, 2012 5:42am
Quoting qiktrader954
yes SOMETIMES you can hit the bid or offer [ask] but I want to get filled so I give up 1 pt
the commis is 3.45 round turn including fees this means it cost 3.45 total to get in and out of 1 trader with 1 contract

obviously I put on many trades a day
What is that in terms of pips? Sorry I am not familiar with how futures trading works.
  • #134
  • Mar 7, 2012 5:44am Mar 7, 2012 5:44am
1 pip = $10.00 eurfx comission is $3.45
All trends begin with the smallest time frame
  • #135
  • Mar 7, 2012 5:45am Mar 7, 2012 5:45am
as you stated the cost must b low
All trends begin with the smallest time frame
  • #136
  • Mar 7, 2012 5:47am Mar 7, 2012 5:47am
Quoting qiktrader954
1 pip = $10.00 eurfx comission is $3.45
Oh wow. 0.345 pips total transaction cost! I now see why you turn to futures for scalping! And you sacrifice a further 1 pip to get better fills? Do you scalp a live account every day?
  • #137
  • Mar 7, 2012 5:49am Mar 7, 2012 5:49am
Short at 3129
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  • #138
  • Mar 7, 2012 5:50am Mar 7, 2012 5:50am
Only looking for 5 pips on this one guys
  • #139
  • Mar 7, 2012 5:52am Mar 7, 2012 5:52am
Price came up to my 200 ema so sold it but not looking too clever
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #140
  • Mar 7, 2012 5:53am Mar 7, 2012 5:53am
yes been doing this since 1985 [used 2 day trade tbond, sp500, russell2000 but now I just daytrade eurfx usually get up around 130am est just before frankie opens [dax stock market at 2 am my time] and usually do not quit until aound 1 pm my time [after london has closed]

range is very good in eurfx like 140 pts a day

used to trade sp emini but range most days only about 11 or 12 pts all day. Had 2 trade many contracts to make kind of money i am used to
All trends begin with the smallest time frame
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