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How do you find scalping the ranges? I found that once you take commission on both sides and the spread into account, it's a lot of work for not a lot of reward? I've probably done it wrong though...
Can you help answer these questions from other members on NexusFi?
hey,
i am not really scalping cos the commissions are too great with IB. yesterday was a gd day for it, know some ppl who made gd dough scalping the bund with 5 lots yest but they pay 74c a round turn, & thats their style. i may look at a few 5 tick setups today though, but i can see it being defined as smthg other than scalping as time in the trade seems to be about 90mins in this mkt!
And thar she blows. Quick blast through the highs, retrace down to support/resistance and a vacuum in volume profile and a bounce back higher. Can't say I caught any of it though!
i can actually talk about some technical analysis in the bund, see attched nice flag formed (highlighted) & a nice retracement into that area (what was prev resistance on the daily) after the initial spike.
thanks bund, i feel like i owe you smthg.
i didnt trade this btw. being ultra selective on any swing trade. also looking at the gilt.
if it extends further up from here I will be looking to buy any retraces into these 20s area though, for a longer timeframe trade - so will need to look clean PA on the hourly ideally.
I feel your pain-taking profit is the hardest part of trading.
I am not a believer of the phrase "you don't go broke taking profits." If profits are taken too early then it can cause real damage, but in this particular case I do feel there was some justification on your part as an entry at 23 was always going to be based on a quick ride higher?
