I can also put in the orders to exit at the high I choose, and also a stop-loss too correct? S. Szpak
Yes. You will get filled as long as its object to match at the exchange. You choose where you want to buy and where you want to sell as long as you dont use market order. Normally (with limit order) you send an order at a specific price to join best bid or ask (if you trade tight). Then you wait till you most prly get filled. But in these cases you also run the risk of not getting filled. If you want to trade tight you have to be patient for a number of seconds, or even in some cases minutes to get filled I personally never use any form of stoploss orders, as I watch every second and are fully able to reverse my positions anytime.
Syrre, I was writing in the context of trading NQ, where I anticipate a ten tick move and am thrilled to get 4 or 5 out of it with the methods I use. Probably what I do has little relevance to ES. You are the expert, kindly carry on. Regards, Al.
ok, then i understand a little bit more, but im not an expert at all. im just a scalper who just recently started trading futures. all the best, syrre
syrre syrre wrote: I personally never use any form of stoploss orders, as I watch every second and are fully able to reverse my positions anytime. I've been looking at some of Friday's trading (futuresource.com) and, MAN there are a lot of .25 point moves in a trading day. Was wondering if you could share anything of what you do. Don't need your secrets, just stuff like, do you use tick charts only, what is the maximum periodicity you use, 2 minute charts, 5 minute, assuming one is interested in half points moves. Thanks, Stephen Szpak
well, in the way i am able to give a sort of advice i would say the most relevant/important thing you should do before trading, is watching the market depth A LOT, and try to get a "feeling" for the movements. if you are able to get a good "feeling" you dont need this technical anal or a bunch of charts to be a consistent profitable scalper. ist quite simple, ive done this for 1/3 of my life, and its like playing playstation. i know some people will react to statements like these, but i cant help them. im just telling my opinions from my own experience.
I don't quite understand what you've said here. You say I should watch the market in depth, but NOT to use charts? Please clarify if time permits in a day or two. Stephen Szpak
stephenszpak me too... let me know if you figure out how to trade from DOM without charts. Good trading to you. Don't get discouraged, some of the posters here can be a little rough on you. Maybe you will have a new perspective to share on this subject. Michael B.