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can you scalp cryptos
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can you scalp cryptos

  #1 (permalink)
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can you scalp cryptos

can you scalp crypto s

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Of Course


Yes.

I would say that at least 25% of the buyers right now are short term speculators... maybe more.

There's some discussions on here about cryptos: https://futures.io/cryptocurrency-trading/

And also Reddit's algo thread is loaded up with crypto auto-trading / scalpers https://www.reddit.com/r/algotrading/

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iantg View Post
Yes.

I would say that at least 25% of the buyers right now are short term speculators... maybe more.

There's some discussions on here about cryptos: https://futures.io/cryptocurrency-trading/

And also Reddit's algo thread is loaded up with crypto auto-trading / scalpers https://www.reddit.com/r/algotrading/

According to the bid/ask spread I'll say no, hard to make $$ with this kind of spread.

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The answer is undefined because the question is ill defined. The specific answer depends on what exchange, what crytpo, scalping technique used (market vs limit order), holding time, etc. Cryptos may be better suited for limit order scalping and "market making" techniques because some exchanges do not charge for limit orders and because you can place many small orders.

Beyond the basics, for market order scalping you need a certain amount of leverage, uncertainty, and bias. For limit order scalping, you need to be able to weight what the fair value of the product is and you need enough uncertainty so that you can get your fills.

In general, for discretionary style scalping you need somewhat predictable drivers of volatility so that you can effectively allocate your screen time. A general heuristic is that market order style scalping may be more feasible if your crypto has a strong directional bias while limit order style scalping may be more effective in range markets.

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sam028 View Post
According to the bid/ask spread I'll say no, hard to make $$ with this kind of spread.

The spreads are .01 on the major US exchanges.
See attached. The real issue is the insane fees they charge on Market Takers (market orders which I will explain below).

Matt Z
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  #7 (permalink)
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tpredictor View Post
The answer is undefined because the question is ill defined. The specific answer depends on what exchange, what crytpo, scalping technique used (market vs limit order), holding time, etc. Cryptos may be better suited for limit order scalping and "market making" techniques because some exchanges do not charge for limit orders and because you can place many small orders.

Beyond the basics, for market order scalping you need a certain amount of leverage, uncertainty, and bias. For limit order scalping, you need to be able to weight what the fair value of the product is and you need enough uncertainty so that you can get your fills.

In general, for discretionary style scalping, you need somewhat predictable drivers of volatility so that you can effectively allocate your screen time. A general heuristic is that market order style scalping may be more feasible if your crypto has a strong directional bias while limit order style scalping may be more effective in range markets.

In general, I agree with you. However, no Scalper relies in reality on being a maker (limit) but also being taker (market orders). The problem that ALL crypto exchanges have is the ridiculous commissions they charge. Namely, .03% to takers.

To comprehend the cost of this think of this think that a $100K notional value has to pay $300 per transaction. Now think in futures an ES Emini SP contract with a notional value of $140,000USD (roughly 2,800 level as I write this X 50). You pay about plus/minus $4. This is .00285%

So a low-level trader will pay 100X more on each transaction and almost no leverage is provided. Avoid Crypto like a plague for scalping purposes.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; June 11th, 2018 at 11:46 PM.
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mattz View Post
In general, I agree with you. However, no Scalper relies in reality relies on being a maker (limit) but also being taker (market orders). The problem that ALL crypto exchanges have is the ridiculous commissions they charge. Namely, .03% to takers.

To comprehend the cost of this think of this think that a $100K notional value has to pay $300 per transaction. Now think in futures an ES Emini SP contract with a notional value of $140,000USD (roughly 2,800 level as I write this X 50). You pay about plus/minus $4. This is .00285%

So a low-level trader will pay 100X more on each transaction and almost no leverage is provided. Avoid Crypto like a plague for scalping purposes.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Salient points. To be fair to crypto exchanges, they have an inverted pricing model where they focus on transaction costs rather than data costs. The data is absolutely free for most tiers of usage. This is quite similar to the pricing model in some dark pools or ECNs like Fastmatch and not completely unusual, you just need to be aware of it and manage accordingly when you're trading the venue.

To put this in perspective, to effectively trade ES, my capital costs are about $3.8M for the membership, $48k/year in data license fees, and similar access cost per year for connectivity. So my effective transaction cost on the first trade is actually more like 27.85x the notional value of the contract unless I can push substantial volume.

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