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.
Yes! That was my first concern. From the books and the forums, I always see that most say to shoot for a 1/3 risk reward ratio. I've been risking 2 to make 1, then adding commissions I was concerned that this would make it difficult.
Can you help answer these questions from other members on NexusFi?
Thanks for eveyones input. This is outstanding. It would be great for someone to start a thread, to see the money this forum has that people have made here. Before and after kind of thing.
You'll probably never see such a thread, since most people lose. And really, if someone says they made $X, would you actually believe them? As Abraham Lincoln once said "The problem with internet quotes is that you can't always depend on their accuracy."
Let me make sure I'm clear...I have no dilusions of making $1k per day on a $5K account as a new trader. I know Ninja has a great emulator with an algorithm. But I think its tuff to emulate just were your limit order would be in the queue. I know some of my orders wouldn't get filled, and others I'd have to take a small loss on (because of no fill). I just want to make sure my stratgy is on the right track. I am worried about the HFT's and there "tricks". I know Ninja can't emulate that for sure. If I could start out with $100-$200 per day to build I'd be extatic.
Another thing. I watched a video with Linda Bradford Raschke. She said she rarely uses limit orders. Mostly Market. I was shocked by this. Can you use market orders to scalp 1 tick? I know she doesn't scalp but still , I figured she would use limit.
Honestly, I would say you have about a 5% chance of actually making money doing what you are doing. No one I know can scalp successfully for any period of time, and I know some fantastic traders. Most traders who I know make money have a longer term view (usually days to weeks).
You are not the first person to be tantalized by sim success, and I think it is great that you are questioning it.
Maybe the best thing for you is to try a real money test. Just use 1 contract. It might cost you a couple hundred bucks, but that may be cheaper than spending a lot more time on a method that may only work in sim.
this forum has that people have made here. Before and after kind of thing.
