i've searched thru all of ET for scalping threads...

Discussion in 'Trading' started by MoneyGod, Jan 30, 2009.

  1. Ha! Some of the guys on my desk set their special buy/sell keys for 1 dollar through the market. These are reserved for those special balls to the wall mega bounce days! :D
     
    #41     Jan 31, 2009
  2. trom

    trom

    I've got keys similar to NYOB. Lots of ways to bid on different ECNs. Various keys will place my orders inside the NBBO by 1c, 5c, etc. I have keys that post/ping dark books, various on close/on open keys, all kinds of cancel keys, tier size keys.

    It's all useful if you know how executions work. There are certain types of orders that come through different ECNs that fill a certain way. If I see prints going off at a certain venue, and combine that with what I see in the level II, I can figure out what ECN/dark book the activity is on. If the market is 10.05 at 10.10 with NSDQ, BOOK, ARCA, and EDGX at the offer, and prints are going off at 10.10 on PSE, I know that's happening on ARCA. If I want to sell , I know to either offer on ARCA at 10.10, offer 10.09, or use a certain type of order that will cross with marketable ARCA orders between the bid/offer. Of course, all this happens in 1-2 seconds.

    On a very short term trade, good stock is hard to get. Being able to execute better than everybody else is a huge advantage. In my opinion, you need a very flexible order entry platform to do this well.

    Also, focus, dedication, months/years of screen time and all that... :D
     
    #42     Jan 31, 2009
  3. Key mapping can be very useful tool in scalping. I'm putting here mine too.

    shift+a= 1 cent better bid
    shift+s= 2 cent better bid
    shift+d= 5 cent better bid
    similarly shift+l/k/j= 1/2/5 cent better ask (these can be very useful in volatile stocks with spread like NVR, GOOG)
    shift+o=market buy
    shift+w=market sell
    shift+i= cover full short position on market
    shift+e= sell full long position on market
    shift+p= brings up sell window at offer
    shift+q= brings up buy window at bid
    `=cancel all orders
    [delete]= cancel last order
    [tab]= toggle thru markets maker windows

    for cycling thru ecn's and managing size, same key mapping.
     
    #43     Feb 2, 2009