Forex Scalping

Discussion in 'Order Execution' started by Fxjunkie, Jan 29, 2008.

  1. Fxjunkie


    A general question-
    What is the best retail platform for News Scalping?

    fastest execution, lowest rejections, tightest spread during news releases etc.

    Look forward to your thoughts.
  2. The Currency-Futures traded at CME.

    I wouldn't even bother doing this kind of stuff with a marketmaker.
  3. Wood474


    Agreed. Realistically you need a direct connection, cme futures and a platform such as TTs X-trader. Unless you've got the setup for scalping you will be seen off quick smart.....cos the rest of us will chew you up and spit you out!
  4. Fxjunkie


    lol.... always a cowboy on a message board. Go get'em Timmmay

    dont worry about my infrastructure & execution strategy

    Still interested in retail fx traders experiences.
  5. Go to any forex-forum or whatever where you can find something out about what happens to a lot of people every day when they try to scalp the news.

    Seriously if you do trade the news with a forex marketmaker and get ripped off, I wouldn't even say it's the marketmakers fault. You are asking for it, and you get it.
  6. I was thinking the same thing but didn't knew how to put it politely.

    Yeah, scalping, or even daytrading is a losing proposition. 98%+ of daytraders fail in forex, after all.
  7. It depends on how you intend to scalp the news to a certain extent.

    Getting into a trade might not be a problem, getting out of it could be a different story :)

    Are you sure you're ready to be trading news?
  8. artis74


    lube up if you are scalping forex on news
  9. Not recommended - it's hard enough in the futures market, using the best technology such as x-trader...
  10. if by 'News Scalping' you're referring to the release of economic
    reports then the bet is for or against the 'Consensus', in which
    case a trade can be placed before the announcement

    some reports are to some extent seasonal regardless of the
    current economic conditions, so today's NFP release may well
    be higher than the Consensus 58k, but the NFP has for some
    time included 'significant revisions' which have created a second
    whammy, so expect a significant 'revision' to last month's 18k —
    short euro

    trying to enter an order once you know the figures is a no-win
    exercise, prices can jump 50 pips, prices can freeze and an
    'orderly market' may take several minutes to occur; alternatively
    once order's resumed there may be a good trade opposite to the
    current direction with plenty of time to enter it
    #10     Feb 1, 2008