- No Scalping!!!

[lamode]

Why not pay the commision and go for ENC?

[RedDuke]

Originally Posted by DW

Is there really something wrong with a trader using a brokers platform, their charts, seeing a quick move up or down on the chart price and hitting the trade button quickly for a profit? With all the things that brokers are allowed to do to traders to seperate them from their hard earned dollars, wouldn't this simply be a case of the quick and the dead? If they have a delay in their pricing, is a trader responsible for that? Never worked that way trading stocks, as there was no delay, the price was the price. Period. I'm frustrated because I can "Scalp" every single day about an hour before and two hours after The London and New York openings on a demo account and make a fortune. I too am searching for a way to put this into practice on a real account. If I can find a broker...........

There is alernative. You can trade any way you want at CME with their currency futures. Futures 1 pip stpread and commissions alsol beat forex spread, even on eur/usd at 1.5 pips. Plus it is a central reputable exchange.

Regards,
redduke

[DW]

Originally Posted by RedDuke

There is alernative. You can trade any way you want at CME with their currency futures. Futures 1 pip stpread and commissions alsol beat forex spread, even on eur/usd at 1.5 pips. Plus it is a central reputable exchange.

Regards,
redduke

Is there any liquidity in that market? I would love to hear more as I am open to any and all ideas regarding forex. What are the trading hours, what does a contract cost and how large is it etc? DW

[DW]

Originally Posted by ajhardesty

This thread peaked my curiosity because I always thought of myself as a scalper in many trades, but not in the very short time frames indicated here. So what is the consensus definition of scalping?

I did a google on "forex scalping" and found 3 very different definitions:

Scalp
To trade for small gains. Scalping normally involves establishing and liquidating a position quickly, usually within the same day, hour or even just a few minutes.

Scalping
The basic definition of scalping is a trading style in which a trader takes a profit on the first leg of a movement, not allowing the stock any meaningful retreat.

Scalping
Buying at the bid and selling at the offer as soon as possible.

So, while my trading often fits into the first two definitions, it sounds like most here are talking more in terms of the last definition.

My trades last about 5-10 seconds on average I would guess, many are just a few seconds in and out. And it's very profitable. Problem is, that's a practice account. I'm searching for a brokerage that will allow this for real. DW

[RedDuke]

Originally Posted by DW

My trades last about 5-10 seconds on average I would guess, many are just a few seconds in and out. And it's very profitable. Problem is, that's a practice account. I'm searching for a brokerage that will allow this for real. DW

You will not be able to do at any forex MM. Go to CME website and look at their products. Symbol for euro futures is 6E. It is pretty liquid and pretty much trades around the clock. Intra day margins are quite low as well. There are plenty of reputable clearing firms where you can trade it.

redduke

[newspring]

I'm surprised IBFx does not allow scalping. But then, it depends on how you define scalping. My trades are usually at least 5 minutes long.

Not long ago their CEO mentioned that they allow scalping(but does not advertise it). The interview was at metatradertools. So, from what I understand, if we stay in trades more than a minute, it should be fine.

Anybody have any problems with trades more than a minute, say a minute to five minutes?


Metatradertools
What is your policy on EA Scalping
Todd Crosland; We don’t actively promote scalping however it is allowed. If customers continue to only trade the news and only stay in there trades for 30 seconds there will be an issue. If they are trading for 2-3 minutes there is not a problem

[newspring]

Originally Posted by newspring

I'm surprised IBFx does not allow scalping. But then, it depends on how you define scalping. My trades are usually at least 5 minutes long.

Not long ago their CEO mentioned that they allow scalping(but does not advertise it). The interview was at metatradertools. So, from what I understand, if we stay in trades more than a minute, it should be fine.

Anybody have any problems with trades more than a minute, say a minute to five minutes?


Metatradertools
What is your policy on EA Scalping
Todd Crosland; We don’t actively promote scalping however it is allowed. If customers continue to only trade the news and only stay in there trades for 30 seconds there will be an issue. If they are trading for 2-3 minutes there is not a problem

The full interview is at this link below.

http://www.metatradertools.com/forex-traders-blog/?p=138

[MatiasFx]

Oanda chat support:

Please wait for an agent to respond. You are now chatting with 'OANDA' OANDA: Thank you for choosing OANDA. How may I help you? Matias: hello i have a few questions Matias: do you allow scapling??? Matias: i mean trades in seconds? OANDA: The term scalping here primarily refers to latency trading, where clients unfairly exploit, to their advantage, delays that may occur due to the fact that FXTrade is Internet-based. OANDA: On the rare occasions when we have believed a customer has been trading in this manner, we try to contact them and ask them to stop. Usually this is effective, but in the few cases this has not been effective, we start to reverse the trades that were executed unfairly. If necessary, we also close the account. Matias: how do u know when a tradr its doing that?? Matias: how you define that?? time restriction? OANDA: No, if you are talking about getting in and out of a trade in a short time, there is no restriction on that. Matias: ok.. thanks for your time Matias: bye OANDA: You're welcome. OANDA: Goodbye.