Average ticks per hour using the DOM? | Traders Hideout


futures.io - futures trading strategies, market news, trading charts and platforms


Traders Hideout


Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons




 

Average ticks per hour using the DOM?

  #9 (permalink)

Brisbane, Australia
 
 
Posts: 95 since Mar 2018
Thanks: 72 given, 26 received


tpredictor View Post
Most scalpers will employee either of 2 methods: they will take a high tail risk (large risk to reward) in order to decrease the costs of the stop outs or they will trade with a larger size and smaller risk. You cannot make opportunity. I think you cannot just scalp in a mechanical way. If you scalp you have to be able to see and trade the big trades in the market too.


tpredictor View Post
larger stops then targets or even with a larger target then stop

Right guys, and from my research if you set big stop/small profit or a big profit/small stop and place an order based on nothing but pure chance, it ends up reversing a 50/50 formula and returning the same results, basically like trading via a coin toss, which to me aligns with that ending point, "if you scalp you have to be able to see and trade" - sl's and tp's are all a side tool, the main fundamental thing you must posses is ability to predict the market, no stop loss/take profit ratio will work unless you have this fundamental skill.


lax99 View Post
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.

I agree with this, as I said from my limited experience stops and profits are nothing without fundamental skills of reading the order flow, amazing that you can adjust and manage your risk simply by being a skilled speculator, put it this way, you trading to save the world at this point in time is a lot less risky than myself doing it.


lax99 View Post
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?

Cheers, I will take note of that.

Reply With Quote