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Scalping in paper trade mode TO EASY?! I need the opinion of an established trader.
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Scalping in paper trade mode TO EASY?! I need the opinion of an established trader.

  #1 (permalink)
Membership Temporarily Revoked
Chattanooga, TN/USA
 
Futures Experience: Beginner
Platform: Ninja Trader
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Scalping in paper trade mode TO EASY?! I need the opinion of an established trader.

I have paper traded for the last 2 months with 2 different products. TOS and Ninja. I'm averaging between $800 - $1000 profit per day trading 2 lots of /es. I have 5 years of experience in trading the stock market.The last 5 years I have been a professional poker player. My strategy....I wait for the market to move into a trading range. Then I start buying 2 lots and trading them for a 1 tick profit. Its easy to do in a choppy market. I also am a big fan of Al Brooks. So I also use micro trend lines (failed break outs), to once again, scalp 2 lots for a 1 tick profit. I do this 10 to 40 times per day. Now as great as this sounds....iI want to make sure I am getting accurate results while practicing. Can someone with a successful trading background tell me how accurate paper trading is? Even if its 50% correct, I'm happy. I have been studying my brains out for 6 months. Now I've moved into paper trading aspect. Just want make sure everything is on the up and up. Thanks for your help.

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  #2 (permalink)
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  #3 (permalink)
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Are you including fees in your profit projection? Also what type, if any, stop are you using?

the meanest bean of all,
MeanBean
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  #4 (permalink)
Membership Temporarily Revoked
Chattanooga, TN/USA
 
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Thanks: 6 given, 12 received

No that was just daily P/L . Commissions/fees would have to come out of that. My stop depends on what I am doing. If the market is in a choppy trading range I'll buy for say...1668.25, then immediately put in a a sell order for 1668.50. If this is not filled in 1 minute, I'll get out between a 1 tick loss or even. Now if I am using micro trend lines I'll have a stop order at 2 ticks below my b. When scalping, I'll watch the volume. When the bid is at 1668.25 ,volume at 1100...then the ask is at 1668.50 volume at 550..thats perfect for 1 tick scalp. I do this ALL DAY.

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  #5 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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donovanshane View Post
I have paper traded for the last 2 months with 2 different products. TOS and Ninja. I'm averaging between $800 - $1000 profit per day trading 2 lots of /es. I have 5 years of experience in trading the stock market.The last 5 years I have been a professional poker player. My strategy....I wait for the market to move into a trading range. Then I start buying 2 lots and trading them for a 1 tick profit. Its easy to do in a choppy market. I also am a big fan of Al Brooks. So I also use micro trend lines (failed break outs), to once again, scalp 2 lots for a 1 tick profit. I do this 10 to 40 times per day. Now as great as this sounds....iI want to make sure I am getting accurate results while practicing. Can someone with a successful trading background tell me how accurate paper trading is? Even if its 50% correct, I'm happy. I have been studying my brains out for 6 months. Now I've moved into paper trading aspect. Just want make sure everything is on the up and up. Thanks for your help.

You are probably dealing with an unrealistic simulator. What you really need is an emulator, one that mimics placing your order in the queue. That is a huge deal when trying to scalp.

One way to check if realism is there: When you place your limit order to sell, note how many contracts are already being offered at that price. Then, when you are filled by simulator, note how many contracts traded at that price while you were waiting to get filled, and how many are still in queue. Let's say there were 500 in queue when you entered your order, and 1 minute later you are sim filled. If only 100 contracts traded at your exit price during that minute, you probably would not be filled in real life (unless 400+ contracts in front of you all cancelled during that minute).


The best way to check is to try it with real money, of course. But it might be expensive.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #6 (permalink)
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With almost half of your profit going to commission, you would have little room for trades that go against you. Also when a stop is hit, depending on the type of stop, you will most likely go +1 tick on the stop. Of course that depends on your win loss ratio. Either way good luck and you might also want to check on Mac's daily trading videos on youtube or his website http://priceactiontradingsystem.com/. I find him much easier to digest. Also their is a great journal using his methods: Day Trading Using the Basis of Mack's PAT Teachings, on here you might want to look at. Good luck.

the meanest bean of all,
MeanBean
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  #7 (permalink)
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donovanshane View Post
I have paper traded for the last 2 months with 2 different products. TOS and Ninja. I'm averaging between $800 - $1000 profit per day trading 2 lots of /es. I have 5 years of experience in trading the stock market.The last 5 years I have been a professional poker player. My strategy....I wait for the market to move into a trading range. Then I start buying 2 lots and trading them for a 1 tick profit. Its easy to do in a choppy market. I also am a big fan of Al Brooks. So I also use micro trend lines (failed break outs), to once again, scalp 2 lots for a 1 tick profit. I do this 10 to 40 times per day. Now as great as this sounds....iI want to make sure I am getting accurate results while practicing. Can someone with a successful trading background tell me how accurate paper trading is? Even if its 50% correct, I'm happy. I have been studying my brains out for 6 months. Now I've moved into paper trading aspect. Just want make sure everything is on the up and up. Thanks for your help.

if your using tos paper switch to ninja you ll have realistic results. TOS is instant with its simulator fills,real "live" trades even in ES, you wont have same results TRUST me been there and tested it

good luck

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  #8 (permalink)
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This is with Ninja. I've tried this with TOS and Ninja. TOS last month, Ninja currently. The results are the same. Also, the fills don't always go through. There not instant. I'm curious. The one post said HALF my profit going to commissions, how half? With some brokers I've been quoted 1.80 commission. Since I'm look if for a $25 profit...how does half got to fees/commissions? Thanks for your insight.

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  #9 (permalink)
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donovanshane View Post
This is with Ninja. I've tried this with TOS and Ninja. TOS last month, Ninja currently. The results are the same. Also, the fills don't always go through. There not instant. I'm curious. The one post said HALF my profit going to commissions, how half? With some brokers I've been quoted 1.80 commission. Since I'm look if for a $25 profit...how does half got to fees/commissions? Thanks for your insight.

There is Commission + Exchange Fee + NFA Fee. It is per contract.

Roughly, it is $4-5 per round turn per contract.

So, if you trade 2 contracts:

Gross Profit = $25
Commission = -($10)

= Net Profit $15



If you lease an exchange seat and do enough volume, you can eliminate or reduce the exchange fee.

For apples to apples, ask brokers their "all in" rate including exchnage and NFA fees.

Also, don't forget any platform fee, if applicable.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #10 (permalink)
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Posts: 62 since Sep 2012
Thanks: 39 given, 54 received



donovanshane View Post
This is with Ninja. I've tried this with TOS and Ninja. TOS last month, Ninja currently. The results are the same. Also, the fills don't always go through. There not instant. I'm curious. The one post said HALF my profit going to commissions, how half? With some brokers I've been quoted 1.80 commission. Since I'm look if for a $25 profit...how does half got to fees/commissions? Thanks for your insight.

Sorry not half. 2 x ((1.80 x 2) + platform (.50))= 8.20 or about 1/3 of profit. My bad. But that is not really relevant, just part of the larger equation. What matters is your win to loss ratio and how much you keep, ((win - com/fees) -(loss))= profit.

the meanest bean of all,
MeanBean
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