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Average ticks per hour using the DOM?

  #6 (permalink)

Denver
 
Trading Experience: Intermediate
Platform: Bookmap and Jigsaw DOM
Broker/Data: Stage 5 Trading
Favorite Futures: ZN
 
lax99's Avatar
 
Posts: 433 since Jun 2015
Thanks: 623 given, 809 received

1) I don't think it's cheating to trade infrequently. Each trader's job is to make money and manage risk. If you do that by trading once a day when it's slow and twenty times in a day on a NFP report, it doesn't mean that you're cheating.

Why should a trader feel forced to take crap trades every single day just to pump up their trade sample to "a statistically significant size"?


2) Reducing your risk doesn't mean that you increase your trading costs. Reducing your risk can be something like leaning on a zone with a solid setup. Sometimes I have trades that don't go against me at all because I picked the right price at which to do business. And stop losses save my ass more than they hurt me. Maybe that's just me though.

3) I'm still not following this line of reasoning.

4) When I'm trading well my trades are not perfect. I'd like for them to be, but it just isn't possible. When I trade well is when I'm seeing the market well and making the right calls time after time.
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Revan, to answer your original question, the number of ticks I can make depends on the opportunities available. Sometimes there are great trades starting right at the open. Sometimes I'll sit there for an hour and a half (like this morning) and not see a single actionable opportunity. Scalpers have to be simultaneously patient and responsive; you have to know what you want to see, wait for that certain thing to develop, and execute as soon as it does. Then you should have an idea of what ought to happen afterwards, and you need to be able to react well in the moment.

Your only metric of consistency should be your performance. You can't measure this in ticks when you start, but rather how well you took advantage of opportunities as they presented themselves. It's great to shoot for $1k per day--we all did when we started out--but the reality is that you should be asking yourself a different question.

If you had thirty opportunities today, did you take advantage of all of them? Were they good or bad reads?
If you had zero opportunities today, did you stand on the sidelines? If you didn't, then why did you even try to risk your money if you didn't have the read?

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