If you're trend following, speed is not important. If you're scalping a fast moving stock, speed is everything. Obviously, you've never watched a fast moving stock that's in play. You probably just look at the Level 1 quotes in your Ameritrade account. What a know-it-all!
Goldenarm: You just independently confirmed that I have found the âHoly Grailâ of intraday stock trading after one year screen time and painful losses. I have exactly the same set up as yours, but I use IB BOOKTRADER and currently trade POT. Yes you can do this from HOME, just make sure you trade high price stocks and save commission. Bighog: When I âgrow upâ out of $1000 a day âscalpingâ stock in a year or two, I want to trade ES like you. I have read through all your posts and I think you are the best on ET. I sent you a PM a few weeks ago and my invitation still valid, you can come to our restaurant any time and your dinner is free for life.
re: speed: i dont know a thing about scalping but i've heard of traders configuring their stations to trade using videogame controllers as hotkeys. (button A: buy at bid, button B: sell at ask, button C: exit all and cancel, button D: reverse, button E: whatever, etc...) would possibly help reaction time. just dont mess up and try to play emulator while your trading program is open. lol. why isnt mario jumping?? why am i down $5k??
I do not scalp but believe it is possible. I do use some of the information from scalpers to get a better entry and exit. Two sources of info have been: http://www.viperspeedtrader.com/ Viper had a thread on ET and has posted several video and webinars that were helpful. and http://www.nobsdaytrading.com/ NoBS has a very inexpensive video and short manual that describes what he does. Reasonably well done and answered several of my questions. Nothing in both of these sites will replace the months of screen time necessary to turn profitable however. Good trading!
I will share my layout. It may not make perfect sense but it is what I"m used to. Shift+Q = cancel all bids Shift+W = cancel all offers Shift+E = cancel last bid Shift+R = cancel last offer Shift A = Market Sell Shift S= Sell Limit (brings up box, at bid) Shift D= Sell Limit (10 cents through market) Shift F = Buy Limit (10 cents through market) Shift Z, X, C I don't really use, perfectly valid keys Shift + V = Market Buy Shift + B = Buy Limit (brings up box, at offer) Shift+up arrow = cycle through ecns Shift + down arrow = cycle through ecns Up arrow = increase price by 10 cents on limit order Down arrow = decrease price by 10 cents on limit order Right arrow = increase price by a penny on limit order Left Arrow = decrease price by a penny on limit order numpad 1-9 = 100, 900 shares, 0 = 1000 shares, alt+ctrl+1-9 = 1000 through 9000 shares, alt+ctrl+0 = 10000, alt+ctrl+ non numpad 1-9 = 10000-90000 shares. Have some other miscelaneous keys for platform specific functionality. Layout is FAR from perfect, just what I'm used to, but I can still be a little ninja on the keys with it.
Nice! Very similar to my layout except I use my left hand keys for buy orders and right hand keys for sell orders. To each his own!
NYOB, I agree with goldenarm. When I saw this: Shift D= Sell Limit (10 cents through market) Shift F = Buy Limit (10 cents through market) ET's resident Mom started worrying about you
I've had a few scalping discussions and strategies here: http://www.freetradingvideos.com/forum/forum_topics.asp?FID=14&SID=239c9b52827bzf89f14475z12ca15445 I think the best platform for scalping futures is infinityfutures.com. Great stuff.