Scalping in USA

Discussion in 'Index Futures' started by Dirk, Dec 15, 2007.

  1. Dirk

    Dirk

    Tick is 5 points. One tick costs 0,1 USD, and 1 contract costs ~4500 USD or ~225000 points (today`s last trade). Average day volume is 350000-400000 contracts. My day volume is nearly 5000 contracts, size 15 contracts, average day profit is 500-600$ after commisions. Comission is ~0,1$ per round for 1 contract.
    Well, the main restriction is language =). It will be hard to trade in russian exchanges if you don`t russian language. Taxes are 30% for non-residents and 13% for residents. Apart of this, I don`t see any restrictions.
     
    #11     Dec 17, 2007
  2. Dirk

    Dirk

    Well, answer some questions if you can, please:
    1. What size do you trade? And, how do you think, what is max size for effective scalping on DAX?
    2. What is your average day profit? (Sorry if this is inconvenient question)
    3. How long do you hold your position on average? I hold 20-30 seconds on average, max time in position 2-3 minutes.
     
    #12     Dec 17, 2007
  3. RedDuke

    RedDuke

    1. Anywhere from 1 to max of 5 contracts. Up to 5 contracts during active hours not much slipage. Some people traded up to 10 contract at times with no slipage.
    2. I am aiming at 10 points on average, but it is by no means a set goal. I will take whatever I can get. The only things that I have set in stone is max loss for the day.
    3. My hold time could be from seconds to minutes and even longer. Usually the trades that last 10-20 seconds are the ones which did not go into my direction, and I get out plus/minus few ticks. The ones that do move in my direction, I keep as long the the price action tells me.

    Regards,
    redduke

    PS. dax ochen klassnij kontrakt, no besposhandnij esli ne ostorojen.
     
    #13     Dec 17, 2007
  4. scooterh

    scooterh

    I just want to mention that foreigns(that is non-Russian residents), actually don't have to pay such huge tax(espicially if they don't like it much :). For example they can open account not at Russian broker directly, but in it's subsidary in offshore.
     
    #14     Dec 18, 2007
  5. JSSPMK

    JSSPMK

    Very interesting, what's the daily range like? So they changed the law, because I believe before only Russian residents/citizens were allowed to speculate on RTS, correct?
     
    #15     Dec 18, 2007
  6. Relhby

    Relhby

    Greetings to everybody, I'm also russian scalper who is interested in scalping DAX. Can anyone answer - is there any trading terminal which allows demo trading with real quotes? Just to take a look what is it all about.
    And another question - where can I find some screenshots of scalpers' workspaces, who scalp DAX or ES
    Thanks in advance
     
    #16     Dec 18, 2007
  7. RedDuke

    RedDuke

    Go to ninjatrader.com to download software. It is free for charting and demo trading. Then go ampfutures.com and apply for demo feed (zen-zire). This feed is identical to live one. It will give you variety of intruments (es, er..) including dax. The only issue with eurex products on this feed is that time and sales and thus volume are not reported. But if you use time based or tick based charts it is fine. It also gives you market depth (5 lvels on bid and 5 on ask).

    Regards,
    redduke
     
    #17     Dec 18, 2007
  8. ssss

    ssss

    Dirk


    Here, in Russia, we have very good conditions for scalpers (succesful scalpers make 10,000-20,000$ a month and more)
    ###########################


    Where ? and Who have this result ?

    Author disscused issue with most of the leader's in RTS contest

    http://www.rts.ru/main/investor/

    1. Only 3 top in RTS contest performed
    1000% -2000% in quartal

    2. Commission calculated not in time of transaction.True result for 1 and 3 is
    some 2 time lower

    3. 3 -Kostimus performed from approx 1800$
    to 20000$ in quartal
    payed some 8000$+1700$ commission

    4. Second competitor performed 20.5 time in quartal with options .
    It was true world class in result and tactic
    (if he not have offset account's)
    from 11000$ to 230000$
    in one quartal. But he have had great luck
    (Medwedew nomination to President,snsh
    have had OTM options on Gazprom)

    5. 1 and 3 "nachprod" and "costimus"
    performed scalping ,but as stated before
    they's true perfomance some 100%
    per month in quartal on start capital 1800$
    (if calculate commissions in time of operations)

    6. Winner of 2006 contest noxer crashed
    in 2007 ,as multiplied start capital .

    7. Non resident must pay 30%tax ,more as resident .


    summary -it is definitly promoution junk
    scalping in Russian exchange for non resident
    and in most of case'S for resident's alsov
    must to be placed near exchange ,have top connection and advantage in speed
    against competitiors,which are palced not
    in Moscow and have worster connection

    . It is alsov junk scalping on CME,CBOT
    if operator not have place on exchange (as Schwartz) and realted speed advantage .

    Intraday top performance possible ,but for scalping not observed any relevant information for top performance on CME/ECBOT


    Promoutional ideja of scalping is simple

    1.Make broker lucky (pay commission)
    2.Make exchange lucky
    3. Buy soft (price/volume analysis,data feed
    -some 1500$ per month)
    4. Buy connection
    5. To have difficulty by conflict with accounting ,pay attorney &

    You respectfully ...
     
    #18     Dec 18, 2007
  9. RedDuke

    RedDuke

    Hi Ssss,

    Have you ever placed a live trade at CME or eurex? I trade eurex product and my execution is about 500 mili second, many time it is faster then this. Yes, whoever has the server at eurex exchange building will probably execute in 50 mili second, but it is fine with me, I still get my fill where I want it most of the time. I trade intra day with high frequency, though I do not scalp for 1-2 ticks, which would be a problem for anyone no matter where they are located and which hardware they have. It is totally doable, and this is not a promotion junk.

    I live in New York and trade via 30mbps cable connection with dsl as a backup (both will cost you about $70 per month). Now as far as expensive software, there are good very reasonable options. NinjaTrader is free for charting and demo trading, and will only cost you $50 per month for live trading. Zen-fire or TT feeds for ninja are free and have very fast execution. So here you go, no need to spend $ if you can not afford right now on expensive software.


    Regards,
    redduke
     
    #19     Dec 18, 2007
  10. ssss

    ssss

    I trade intra day with high frequency, though I do not scalp for 1-2 ticks, which would be a problem for anyone no matter where they are located and which hardware they have. It is totally doable, and this is not a promotion junk.

    Question was about scalping -see thread name
    not about intraday !

    Author(was 1 by marketzar with intraday tactic) stated that intraday possible
    (pay attention to author message above)


    author as example can going to Frankfurt ,
    meet a room and very fast connection
    to EUREX .
    In this case ,if scalping would used ,for
    author would advantage against another operator which used scalping from NY location

    but it is not any reason trade today from Germany as tax is 50%

    If trader true successfull long-term and developed tactic ,which is not critical to time delay 100 millisec -300 millisec, must
    found one person company in Monaco and pay "0" tax

    ###########################





    I live in New York and trade via 30mbps cable connection with dsl as a backup (both will cost you about $70 per month).


    It is retail junk. true speedy connection
    from CME direct for operator which located 100 metr from CME server would priced .
    LIFFE this art of connection was 1.500-5000 $



    Now as far as expensive software, there are good very reasonable options. NinjaTrader is free for charting and demo trading, and will only cost you $50 per month for live trading.
    #############

    author tested some 15 platforms for future .
    without charge infinity at is the best

    But it is retail ! Xtrader pro give delay
    0 millisec by datafeed against 200 millisec
    by Xtrader

    NINJA used some technology from CTS t4 ,which author more liked .This need not downloading of 40 mb (source of instability )

    #####################

    Zen-fire or TT feeds for ninja are free and have very fast execution. So here you go, no need to spend $ if you can not afford right now on expensive software.

    It is all retail ,it is not for scalping !

    Scalper can be successfully ,if have multiple
    advantage's as Martin Schwartz ,which have had place on exchange(!)
    ######################

    and used scalping
    in situation ,where was reason ,ut not in each case .


    Best wish ....
     
    #20     Dec 18, 2007