The World's Most Successful Scalping Trader

[mahras]

I see no mention of him using CCI. Am I missing something?

[fxtc]

Originally Posted by doremur

Q: what timeframes are you using on your charts?
A: usually 5- - 30-min charts for trendlines and indicators. i prefer p&f charts because they give me a clearer view on patterns (triple tops). for indicators i like the CCI because it also shows the volatility of the markets.

Read it more thoroughly and you'll see.

[mahras]

Missed that! Interesting. I am not a big fan of CCI but hey different strokes for different folks .

[jimmyking]

He is using market maker style (Level II). I don't know if we can use this style in the Forex. First of all, your broker will tell you stop trading this style because you are trading against him instead of market. Second, the spread will eat almost all the profit you can have in this style.
Correct me if I'm wrong.

[fobos]

Jimmy you're right in saying that you can't copy his style in forex.
The dealing in Bund and Shatz ( or US T-notes ) is different. First of all exchange regulated securities are transparent markets, that is a trader can see the order book ( 5-levels for level I , and 10 for level II) and the ticker which lists all the transactions taking place. In forex only banks and brokers have that info via a Reuters or EBS terminal, we retail traders have to trade blind. Bunds and Shatz have no spread, if the bid quotes 110.295 then the ask will be quoting 110.300( one tick = .005 ) . Brokers don't earn spread they earn commission, so a guy like Paul Rotter who executes thousands of contracts a day has a lot of bargaining power when it comes to commission charges, in fact word is his commission per round turn is < than $10 which is the value of 1 tick on shatz futures.
So what Rotter often does often is to put in bids at 110.295 and offers at 110.300, buyers hit his offers and sellers his bids at the same time , and he makes a small but consistant profit. Can't be done in forex unless you're a broker or a bank.


good luck to all !

[slawek]

Originally Posted by fxtc

Once you master these basic trade setups, you can move on to learning more advanced CCI setups like Accelerator Trade, 5034 and 50140, Extrapolated ZLR, Plateau, Zing Trade.

Where can i read something about theses advanced patterns?

thx

[bobnat]

Originally Posted by doremur

Paul Rotter certainly has the edge by having access to Level2 execution platform and has a winning automated systems that sounds like has some discretionary input as well. I'm impressed though that he uses CCI indicator to measure momentum and volatility in the markets. I've been using CCI with impressive results since November last year. There are several methodologies that could be traded with CCI. I found Woodie's CCI approach being the easiest to understand and follow. All it takes is some screen time to learn and recognize CCI patterns.

If world's most successful Eurex trader uses CCI, then surely it has something to do with his success. CCI improved my trading immensely - there is no going back to traditional indicators after you discover how powerful CCI really is.

I disagree. Both Schwager and Van Tharp have proven this to be a false notion. Between them they have had access to many highly successful traders and they both found the same thing. That methodologies differ widely and the commonalities of these traders are all psychological.

The above mentioned trader may be highly successful using the CCI, but it doesn't mean that his success is due to the CCI. I would venture to say if the CCI didn't exist, this man would still be successful and then you would say because he uses RSI (insert any indicator) then the RSI is a major component of his success.

These boards are littered with examples of this. Many systems have been posted and many cannot make them work, while some can.

Nat