Thread for big locals/scalpers, 1000 rt's/day or more

Discussion in 'Professional Trading' started by John47, Dec 16, 2008.

  1. John47


    I think there are a few others here. I trade futures, often up to 2500 rt's or more, usually looking for small scalping opportunities.

    I'd like to improve my trading such that I'm not only scalping for small winners but also building a position for a larger (several tick) move. I tend to be too quick to take a winner (especially w/ large size) and end up not getting full value out of my trades. So I think that would be a good discussion, but I'd also like to talk about all aspects of order book scalping, order flow, etc w/ others that do something similar.
  2. :eek:
    Why not scale out?
  3. I thought I was active with about 250-300 rt a day...
    Perhaps a good place to start would be with a way to slow down your set ups.
  4. I think this is a long answer . I believe if ur surviving with that kind of volume now getting u to the next profit level would be easy . I m not much of a writer call me at 770 401 8482 T
  5. You could have just PM'med him your phone # instead of sharing it with 100's of people :D

  6. Who cares , Im sure there are many easy ways to get my number . I don t worry about dumb shit like that U obviously don t trade and pay ur bills that way
  7. John47


    I'll reply in just a bit after the Fed release or the close. Thanks for all the replies. Good luck if anyone else is trading the release, cheers.
  8. Oh boy, there is the "you obviously don't trade" line again. Hey pal, I just mentioned that it would have been better (for you) to send a PM, you don't have to have your period over it.

  9. John47


    Scaling out is probably the best approach, however in practice it's sometimes more difficult than you'd think.

    Here's why: moving size like 100 lots is tricky. You need liquidity for a fill, and often you're risking losing a winner if you don't get out when the liquidity lets you. If I'm long and my winner goes bid, and I don't hit it.....there's a good chance I won't get it on the offer because other locals and everybody else will recognize the order flow and see I'm hung.

    Scaling out or pushing your position is probably the best approach though it requires some serious skill w/ size. There are a number of times I'll lift an offer or hit a bid and wonder why the hell its still takes nerve...when you initiate a position, its because its free. I.E. 1000 offered at a certain price, I buy 100....900 left and I'm wondering why the hell nobody else is buying. A second later when its a winner your relieved.

    And trading larger size I'm almost never willing to take a loser, I have to be that tight. I'm counting on turning the market hard enough that if I'm wrong, I'll at least hang enough other people to blast into.

    etc etc. I'll contribute more when I'm at home.
  10. John47


    I appreciate giving me your number, but I'm curious as to what you'd want to discuss? Do you trade in this fashion as well? You didn't say much about yourself other than to call?
    #10     Dec 16, 2008