Thread: is it feasible to scalp gbpjpy?? how??

Originally Posted by ;

gbpjpy has this kind of wild spirit and momentum spurts. . .is it possible to scalp this one?? (I realize the spread makes it look more difficult...)

let's create a thread describing scalp egies...

thanks in advance...

How about this:Trading JPY stocks on the CME (emblem is 6J) Trading GBP futures on the CME (emblem is 6B) There is but one tick! And the commission is just $5.80 total. And if you go in on a limit, instead of a market order, you may even avoid the distribute. I exchange Currency Futures every day, and without the spread, so that it costs me only $5.80 each commerce together with my broker.

This deficiency of disperse facilitates scalping for 1-3 ticks, even about the 1 minute chart, which is just what I do.

And if you want some wild action, then exchange a 6J/6B disperse, which would be very similar to trading Spot Forex GBP/JPY. I will muster it up, although I personally have not got that much guts.

Here's another matter: with Futures brokers and the CME, you do not have to worry about the whole bucket-shop rip-off item, as every currency is centrally quoted out of a market. Slippage is non-existent with limit orders, incidentally.

I began trading the currency stocks late last year, and have never looked back.

Originally Posted by ;

How about this:Trading JPY futures on the CME (emblem is 6J) Trading GBP futures on the CME (emblem is 6B) There's only 1 tick spread on the CME! And the commission is only $5.80 total. And if you move in on a limitation, instead of a market order, you can prevent the spread that is 1-tick. I exchange Currency Futures every day, and with no spread, so it costs me only $5.80 each trade with my broker.

This deficiency of spread facilitates scalping for 1-3 ticks, even on the 1 minute chart, which is exactly what I do.

And if you would like some crazy action, then exchange a 6J/6B spread, which would be very much like trading Spot Forex GBP/JPY. I personally have not got that much courage, but I will muster up it some day.

Here's another thing: with Futures brokers and the CME, you do not have to worry about the whole bucket-shop rip-off item, as every currency is centrally quoted out of an exchange. Slippage is non existent using limit orders, incidentally.

I began trading the currency futures last year, and have never looked back.

. . .and do not forget, you do not have to worry about interest rates and carry trades, as these are built into the price of the contract.

Regrettably, you need thousands of dollars to exchange futures effectively without big drawdowns since you risked too much.

There's also ECN Forex brokers (of which I could count on one hand)... you can tell them apart since they actually charge a commission instead of fixing the spread.

Take a look at the MTF stochastics Ribbon....That Resembles it Provides

Originally Posted by ;

gbpjpy has this kind of wild soul and momentum spurts. . .is it feasible to scalp this one?? (I realize the spread makes it seem more difficult...)

let's create a thread describing scalp egies...

thanks in advance...

perhaps anyone can forward testing cherry marble at 15 to 30 min time period (first setting) for scalping the pair...

cherry marble is on https://www.nigeriaforextrading.com/...l-traders.html


Thank you beforehand. .
andy.

Originally Posted by ;

How can you get two Bollingers on one price chart?

Use different settings. See the deviation settings are different (2,.7). Use whatever settings appear to provide the trades. Men and women appear to believe they must be set to 20. The 62 period settings give basically the same trades as the River program. Utilizing 20 will get you pretty much the same transaction as Hama Pad I. Works very nicely with pairs that trend a lot. Use the MAs to make you conscious of the long-term trends and dynamic support and resistance. Also some kind of static support and resistance needs to be set up i.e. Camarilla lines, pivots, fibs, etc.. You need to always be trying to combine the long-term trend off support or resistance. That makes for secure profitable trades with comparatively tiny stops.

Use an ecn or hotspot fxi to scalp the pair. Very easy to do if u looking little 3 pips per move

Originally Posted by ;

use an ecn such as EFX or hotspot fxi to scalp the pair. Very simple to do if u looking small 3 pips a go

Huh... so Hotspot went ECN... about that.

The other retail trader ECN brokers out that there are MBTrading (which is in fact the parent firm of EFX... so they might just dump you into an EFX account anyway), Interactive Brokers and Dukascopy (but their account minimum is ridiculously high: $50,000; at the price, you might too proceed with a futures broker and trade CME currency futures).

Originally Posted by ;

.. .and do not forget, you do not need to worry about interest rates and carry trades, because these are built into the price of the future contract.

Regrettably, you need tens of thousands of dollars to exchange stocks efficiently without large drawdowns because you risked too much.

There is also ECN Forex brokers (of that I could count on one hand)... you could tell them apart because they really charge a commission instead of fixing the disperse.

That is completely wrong. You do not need any more in a Future's account than a Forex account. $2500 minimum, and you're able to exchange 4 contracts per trade. Is that risking over a normal account?

Moreover, the entire purpose of scalping is to not have large drawdowns!

Originally Posted by ;

Huh... so Hotspot went ECN... how about that.

The other retail trader ECN brokers out that there are MBTrading (which is actually the parent firm of EFX... so they might just dump you to an EFX account anyhow ), Interactive Brokers and Dukascopy (but their account minimum is ridiculously high: $50,000; at the price, you might as well go with a futures broker and exchange CME currency futures).

Again, where do you have the concept that a Futures account is comparable to some ridiculously high $50,000 balance requirement? It's $2500 to open an account, and that will let you exchange 4 contracts.

I had been thinking in terms of stock index futures (SP, RU2000, Dow, etc.), which I didn't succeed in scalping those because of a scarcity of capital. But yeah, comparing the contract information involving the stock and currency stocks, it looks like the risk is about half of currencies.