Just a quick question.I am new to trading..when scalping is it best to reverse the book and also what prime indicators am I looking for..like weight of money etc and do people tend to lay first then back ...
Many thanks
Scalping...
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
HiP1BP27 wrote:Just a quick question.I am new to trading..when scalping is it best to reverse the book and also what prime indicators am I looking for..like weight of money etc and do people tend to lay first then back ...
Many thanks
Scalping is going to be tricky with the current racing on offer. Ideally you need a strong market and competitive prices to allow you to scalp but if you're just starting out you could get caught out. Most of the racing at this time of the year is poor quality and this will almost certainly mean a lot of volatility. Basically you could perform 3 successful 1 tick scalps and then lose 5 ticks when a large order forces the market away from you.
I'd suggest looking at some of the videos on BetAngel TV and practice your swing trading or at least looking to take more than single 1 tick trades.
Sorry that may not be the answer you wanted but I would rather be honest than mislead you.
JG
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
As JG says, this time of year its tricky. Make sure you are ready to scratch (no profit). Its very manipulated at this time of year. keep it small anr be quick. I personally always go at the front of the queue for the simple reason its manipulated and i realise they dont want me there as they are waiting for a bigger opportunity and dont want to show their cards to early.
Practice swing trading, it pays better at the end of the monthsteven1976 wrote:As JG says, this time of year its tricky. Make sure you are ready to scratch (no profit). Its very manipulated at this time of year. keep it small anr be quick. I personally always go at the front of the queue for the simple reason its manipulated and i realise they dont want me there as they are waiting for a bigger opportunity and dont want to show their cards to early.
