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Advice for all that are trying to scalp forex

  • #1
  • First Post: Nov 17, 2015 10:33am Nov 17, 2015 10:33am
For all that trying scalping on 1min-5min. i give you my 2cent advice.

 

  1. dont bother with indicator, oscillators.
  2. dont waste time on FOREX.(big spread never can give you pure scalping opportunities)
  3. dont waste time using all kind of system that are commercial or not.


Move on to the market that give you real volume (use level 2 data for order-flow)
For example some
- Futures market: trading Emini S&P500)
- Interest rate market: US Treasuries (TBONDs) or european variations of treasuries bonds on EUREX like "FGBL,FGBM,FGBS" (best for scalping imho treasuries and eurex bonds)


-then just observe pure DOM(Depth of market aka Ladder)
-observe how real volume are traded on bid/offer

(btw: then you will realized why charts are useless and indicators lagging and why you not making money using it, and why you are always on the other side and why
these smart money buying from you while you selling )

I have tried many systems methods strategies..etc
and I wish if I knew this before and started focus on what matters and not what is just pure bullshit that not make any sence.

TIPS: search on youtube for "DOM Scalping" possibly for "orderflow"
TIPS: be aware of some stupid softwares for orderflow like marketdelta some Addons for ninjatrader etc they are not needed all you need is just DOM or some variations of DOM.

hopefully this will focus you on right path on your trading journey.

ps: sorry for my english.

  • #2
  • Nov 17, 2015 12:50pm Nov 17, 2015 12:50pm
Just because scalping fx does not work for you, does not mean it does not work for others.
It's in fear when people show what they truly value.
  • #3
  • Nov 17, 2015 1:11pm Nov 17, 2015 1:11pm
Quoting ensale
Just because scalping fx does not work for you, does not mean it does not work for others.
J Love Scalping
  • #4
  • Nov 17, 2015 1:31pm Nov 17, 2015 1:31pm
Quoting adriann
For all that trying scalping on 1min-5min. i give you my 2cent advice. dont bother with indicator, oscillators. dont waste time on FOREX.(big spread never can give you pure scalping opportunities) dont waste time using all kind of system that are commercial or not. Move on to the market that give you real volume (use level 2 data for order-flow) For example some - Futures market: trading Emini S&P500) - Interest rate market: US Treasuries (TBONDs) or european variations of treasuries bonds on EUREX like "FGBL,FGBM,FGBS" (best for scalping imho treasuries...
Adrian which platform you trade? Which you recommend for trading stocks and see volumes ??
  • #5
  • Edited 1:49pm Nov 17, 2015 1:36pm | Edited 1:49pm
The only good advice was...

Quoting adriann
dont bother with indicator, oscillators. dont waste time using all kind of system that are commercial or not.
and volume.


Everything else... pretty much bad advice as usual...

P.S. Lots of shenanigans going on with the DOM, don't kid yourself or mislead others. There are pro traders with sick software and equipment that will smash the average guy. Charts are easier both tick and time.
SPC * Swollen PocketZ Crew!
  • #6
  • Nov 17, 2015 1:38pm Nov 17, 2015 1:38pm
Quoting adriann
dont waste time on FOREX.(big spread never can give you pure scalping opportunities)

You can trade spot forex through places like Interactive Brokers with spreads of 0.1 pips and commissions from $2 per round trip.

I suspect that you're confusing brokers with counterparty market-makers, perhaps, when you refer to forex as having "big spreads"?

You're certainly and obviously right about big spreads ruling out scalping, but you're mistaken in thinking that spot forex necessarily has big spreads.

You're right in what you say about futures, too, but you've misunderstood the reason for it: it's not because futures have smaller spreads - it's because futures are more often traded through genuine brokers rather than through counterparty market-makers.

I think I agree with all the rest of your post.
  • #7
  • Nov 17, 2015 1:45pm Nov 17, 2015 1:45pm
Quoting ensale
Just because scalping fx does not work for you, does not mean it does not work for others.
you right !
but its advice , my 2cents.
when i realized where i was before and what i know now.

if something works for you dont change it of course.
but if you struggle, just take my advice and maybe you will be on right path.
  • #8
  • Nov 17, 2015 1:47pm Nov 17, 2015 1:47pm
Quoting Kubiasty
{quote} Adrian which platform you trade? Which you recommend for trading stocks and see volumes ??
currently iam trading US treasuries.
coz they fit best for scalping.
using ninjatrader +DOM.
  • #9
  • Nov 17, 2015 1:50pm Nov 17, 2015 1:50pm
Quoting JoeNY
The only good advice was... {quote} and volume. Everything else... pretty much bad advice as usual... P.S. Lots of shenanigans going on with the DOM, don't kid yourself or mislead others. There are pro traders with sick software and equipment that will smash the average guy. Charts are easier.
yes if u trade Crude oil or dax or some other hell markets that are thin ..thats problem
but if u trade thick market like eurex fgbl or 10y notes thats different story
  • #10
  • Nov 17, 2015 1:52pm Nov 17, 2015 1:52pm
Crude is thin.... Really? Ok bye...


Quoting adriann
{quote} yes if u trade Crude oil or dax or some other hell markets that are thin ..thats problem but if u trade thick market like eurex fgbl or 10y notes thats different story
SPC * Swollen PocketZ Crew!
  • #11
  • Nov 17, 2015 1:56pm Nov 17, 2015 1:56pm
Quoting Xela
{quote} You can trade spot forex through places like Interactive Brokers with spreads of 0.1 pips and commissions from $2 per round trip. I suspect that you're confusing brokers with counterparty market-makers, perhaps, when you refer to forex as having "big spreads"? You're certainly and obviously right about big spreads ruling out scalping, but you're mistaken in thinking that spot forex necessarily has big spreads. You're right in what you say about futures, too, but you've misunderstood the reason for it: it's not because futures have smaller...

you right some brokers like IB have nice spread. but you have to trade some eur/usd.
and not some normal market.

it was advice. not arguing with some other strategy that works fine.
just my advice.
  • #12
  • Nov 17, 2015 1:57pm Nov 17, 2015 1:57pm
Quoting JoeNY
Crude is thin.... Really? Ok bye... {quote}
thin on DOM comparing other thick market
not saying its thin on cash value or someting like that.
  • #13
  • Nov 17, 2015 2:23pm Nov 17, 2015 2:23pm
if a retail is able to use an online trading technology, then its rigged/manipulated enough to fail. there are bunch of ways to fake DOM, more, HFT is actually killing it. stocks are better to trade with DOM due to centralized volume data, but DOM itself is not enought to make money even for stocks.if it would be, you werent able to use it
  • #14
  • Nov 17, 2015 3:15pm Nov 17, 2015 3:15pm
Quoting adriann
some brokers like IB have nice spread. but you have to trade some eur/usd. and not some normal market.

No - sorry, but that's incorrect, Adrian.
  • #15
  • Nov 17, 2015 3:18pm Nov 17, 2015 3:18pm
DAX thin??? I don't think so.
  • #16
  • Nov 17, 2015 3:46pm Nov 17, 2015 3:46pm
Quoting vasily
if a retail is able to use an online trading technology, then its rigged/manipulated enough to fail. there are bunch of ways to fake DOM, more, HFT is actually killing it. stocks are better to trade with DOM due to centralized volume data, but DOM itself is not enought to make money even for stocks.if it would be, you werent able to use it
HFT and bid/offer spoofing, layering exists sure i guess on all markets and ppl still trading.
  • #17
  • Nov 17, 2015 3:51pm Nov 17, 2015 3:51pm
Quoting Xela
{quote} No - sorry, but that's incorrect, Adrian.

whatever works for you, keep using it.

it was my 2cent.
i wish i moved from forex to normal market that have some real volume before 8years ago thats all
  • #18
  • Nov 17, 2015 3:55pm Nov 17, 2015 3:55pm
Quoting Hurst
DAX thin??? I don't think so.
check out ZN(Tbonds) vs DAX or curde oil
compare bid/ask

and tell me which one is thin?
  • #19
  • Edited 4:51pm Nov 17, 2015 4:40pm | Edited 4:51pm
Stock trading is painfully slow and more to lay out. IMO. No love from me on stocks but Futures....... Hey, give futures and the DOM a shot. If it works for you, cool. Using the DOM while comparing the order book at the same time is what I see most claiming to do. If it doesn't work out, I would put the time and energy into just simply reading the candles/bars while at the same time comparing the volume although not necessary. You will not be wasting your time. Good Luck.
SPC * Swollen PocketZ Crew!
  • #20
  • Nov 17, 2015 4:49pm Nov 17, 2015 4:49pm
How can you tell real orders from fake?

see sp500 bar chart below


source : http://www.zerohedge.com/news/2015-0...ini-just-today

Attached Image (click to enlarge)
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