Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Scalping in paper trade mode TO EASY?! I need the opinion of an established trader.
Thats $1.80 per side, but if the strategy works outside of sim, you can easily cut that in half if you lease an exchange seat. Right now I think its $350/month for IOM (which I think covers /ES edit: I believe ES falls under IMM which is twice as expensive).
maybe check with ninja support on how the simulator fills. I've seen some platforms where you pick a percentage of the book filling in order to fill you. maybe they have customized setting. I've noticed on ninja, that you don't get filled unless everything is cleared out. Could be wrong on that, just an observation.
Little better than that. 1.91 per side includes everything . $25 - 7.64 = $17.36 I can live with that. Just starting out I don't want to blow out an account. So 2 contracts ($17+) I figure is good risk management to start. Thanks again!
Looks good but... remember it's $17.36 when you win a tick with 2 contracts and it's $32.64 when you lose a tick with 2 contracts. With a $12.50 per tick product and scalping for a tick, commissions are substantial. Good luck.
Keep in mind that the type of scalping you're talking about puts you firmly in the realm of competing with HFT's. These are the automatic computer algorithms that respond in nano-seconds, are collocated on the exchanges, have techniques for getting in front of you in the queue, spoofing, pushing the market by a tick, and all the other fun and games that happens down at that level.
Personally I would have no interest in trying to compete in that realm using discretion and slow human reflexes.
With that said, well done with your sim trading so far. But be very careful when you decide to go live. The commisions as mentioned are going to eat up +-30-40% of your profits. And the algo's will likely beat you out of the rest over a period of time.
Thats a very good point. I do use some of Al Brooks strategy (The micro trend line breaks, L1), Oh I forgot to add I also look for any bull or bear flags. There was a great bull flag yesterday that was breaking out, but instead of riding the trend, I scalped it all the way up 1 tick at a time. Is this OK? Or would it have been better to just ride the tend? The reason I chose the scalping strategy is I am trading with a $5K account (when I fund). With $400 intraday margin, risking 1 tick, I'm only really risking $25 at a time. I only keep the trade on for a few minutes. Risk mangment was my number one concern.
