As I said I was not trying to knock you in any way, I just wanted less experienced traders to appreciate the dangers. Scalping works if you understand it but if you don't it's a bit like trying to cross the high street with a blindfold on. You will get safely to the other side on a few occasions but it's only a matter of time before a car wipes you out!steven1976 wrote:I think I also said that in my post jg? "Of course occassionally it will shoot......"
I know other seasoned pros have talked about putting through around 100 trades preoff, so be good to hear their views on scalping for profit.
I'm a bit...fed up, confused...whatever
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
Newbies, PLEASE however old you are,Please listen to us "oldies", me, JollyGreen and others are only trying to help you.
Hubris is hard to face, but our comments are here to help you. Before firing off a comment consider what we are saying. It might not be paletable,but hopefully it will help longterm. We make money, so will you. Listen and learn.
Hubris is hard to face, but our comments are here to help you. Before firing off a comment consider what we are saying. It might not be paletable,but hopefully it will help longterm. We make money, so will you. Listen and learn.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
You oldies becareful crossing the high street. Some young chav may mug you 
sorry jg I just had to post to the "oldies" comment.
Goodnight god bless.
sorry jg I just had to post to the "oldies" comment.
Goodnight god bless.
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Jonathan474
- Posts: 14
- Joined: Thu Jan 16, 2014 5:25 pm
Interesting comments about scalping. Really useful to see the different views and approaches you take.
I like the idea of scalping...but at my current level of knowledge and experience I am more often than not at a complete loss when things just don't work out as I expected. The expected drift turns into a steam downwards. The sudden spikes in price that take out your stop-loss which then reverses to the side that would have made you money.
My answer for now is not to make scalping the cornerstone of my strategy - I don't know enough about it yet. Instead, I am watching the horse-racing markets and trying to see if I can fathom out what happens to prices. What effect does WoM have? When can you just ignore WoM? I have seen huge WoM percentages on one side of the book and the price moves the other way. I am sure the more experienced will know exactly why that happens but not me, not yet. What happens when large bets are posted and when spoof money appears and disappears - trying to answer the question, if this happens what will the movement in price be?
I should be ready to trade in a few years time!!
Thanks to all for your comments and advice. Much appreciated.
Jon
I like the idea of scalping...but at my current level of knowledge and experience I am more often than not at a complete loss when things just don't work out as I expected. The expected drift turns into a steam downwards. The sudden spikes in price that take out your stop-loss which then reverses to the side that would have made you money.
My answer for now is not to make scalping the cornerstone of my strategy - I don't know enough about it yet. Instead, I am watching the horse-racing markets and trying to see if I can fathom out what happens to prices. What effect does WoM have? When can you just ignore WoM? I have seen huge WoM percentages on one side of the book and the price moves the other way. I am sure the more experienced will know exactly why that happens but not me, not yet. What happens when large bets are posted and when spoof money appears and disappears - trying to answer the question, if this happens what will the movement in price be?
I should be ready to trade in a few years time!!
Thanks to all for your comments and advice. Much appreciated.
Jon
The first thing i learned was to stay out of where the action is and put my trades in a safe zone 5 or 6 ticks away, you wont make many trades doing this but the ones you do make will mostly be succesful.
This also gives you a chance to watch the market and learn why certain things happen, watch the big traders money and try and work out what they are going to do and try to follow them.
As you get better you can move closer to the action.
Any new trader has to learn how the market works and most important not lose money.
This also gives you a chance to watch the market and learn why certain things happen, watch the big traders money and try and work out what they are going to do and try to follow them.
As you get better you can move closer to the action.
Any new trader has to learn how the market works and most important not lose money.
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Scalping2go
- Posts: 16
- Joined: Sun Feb 16, 2014 1:42 am
Scalping is to me the most exciting and rewarding of betting. It is important to realise the magic of 70. (If each period you made .5% of your capital it would take 140 periods to double your money. If you made 2% each period your capital would be double about each month) To acheive a doubling of capital each month you must manage your bets tightly.. Cuts a loss quickly and don't be greedy. ( A single $5 win - I am in Australia - is the same amount as 5 $1 wins.BUT the risk of the latter is significantly less) Secondly remember Newton - a moving object keeps moving until it stops - Always make the intial bet going with the trend - DO NOT GUESS and put in a stop loss to cover the times you are wrong. Hope this helps I can expand on the selection method I use I required and time permits -
As a five (nearly 6) figure (profit) a year guy I will Willingly cross the road. This is all done manualy by me.
Each of us has our own way of working and the markets that work for us.
The trick is finding out what they are.
Manual, automation, which markets. This takes time, but long term its worth it.
Each of us has our own way of working and the markets that work for us.
The trick is finding out what they are.
Manual, automation, which markets. This takes time, but long term its worth it.
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NileVentures
- Posts: 79
- Joined: Mon Oct 22, 2012 9:13 pm
I can second that. There are a core of Angels (you can see who they are from their posts) who go out of their way to help and pass on the benefits of their experience.barlorca wrote:Newbies, PLEASE however old you are,Please listen to us "oldies", me, JollyGreen and others are only trying to help you..
Hi, the point I was making is straight forwards. Everybody is different. In my case I was down over £20,000 over a number of years.
It took ages to work out what worked for me. Newbies are the american films "fresh meat".
When you, or anybody else starts its bloody awful till you get yout feet. Comments from newbies about how us oldies should be cafeful, are met with amusemet.
I've been there, got the teeshirt, and a balding head I wish everybody good luck, the survivors will make it.
It took ages to work out what worked for me. Newbies are the american films "fresh meat".
When you, or anybody else starts its bloody awful till you get yout feet. Comments from newbies about how us oldies should be cafeful, are met with amusemet.
I've been there, got the teeshirt, and a balding head I wish everybody good luck, the survivors will make it.
Apologies my comment was not aimed at neventures but previous comments.
Friends that use BetAngel are all different, one is a specialist at Darts, One (awesome) at tennis, one correct scores.
Each of them arer brilliant in their own speciality.
Move them to other markets. Ther're lost.
Same with newbies, learn what works for you, ask questions on the forum (we are all here to help)
Good Luck
Friends that use BetAngel are all different, one is a specialist at Darts, One (awesome) at tennis, one correct scores.
Each of them arer brilliant in their own speciality.
Move them to other markets. Ther're lost.
Same with newbies, learn what works for you, ask questions on the forum (we are all here to help)
Good Luck
I am still a newbie at this as still not making any real money but as stated in lots of my older posts I am in for the long haul as I am convinced the nut can be broken.
I have recently turned more to gambling on the horses as trading was getting me down, but one thing I did find more rewarding than most things I tried, before I made this temporary switch, was to scalp horses further down the field - these are often left alone by bots etc as volume isnt there but when scalping the movements are often slower and more predictable. Yes the losses can be greater but so can the rewards and you havent got all the bots etc or pros getting in the way. Just a thought!
I have recently turned more to gambling on the horses as trading was getting me down, but one thing I did find more rewarding than most things I tried, before I made this temporary switch, was to scalp horses further down the field - these are often left alone by bots etc as volume isnt there but when scalping the movements are often slower and more predictable. Yes the losses can be greater but so can the rewards and you havent got all the bots etc or pros getting in the way. Just a thought!
My best analogy for all of this.
Picking up pennies in front of the steamroller looks easy. But the steamroller never stops. Get your coat snagged and you need to cut a bit of it away. Think you can unsnag your coat? Maybe, but then if you don't your whole body goes under. Better to cut away and have a damaged coat. Better still, don't pick up pennies in front of the steamroller.
Picking up pennies in front of the steamroller looks easy. But the steamroller never stops. Get your coat snagged and you need to cut a bit of it away. Think you can unsnag your coat? Maybe, but then if you don't your whole body goes under. Better to cut away and have a damaged coat. Better still, don't pick up pennies in front of the steamroller.
I would have thought the steamroller would have been a good strategy on the 'Flat'!gazuty wrote:My best analogy for all of this.
Picking up pennies in front of the steamroller looks easy. But the steamroller never stops. Get your coat snagged and you need to cut a bit of it away. Think you can unsnag your coat? Maybe, but then if you don't your whole body goes under. Better to cut away and have a damaged coat. Better still, don't pick up pennies in front of the steamroller.
What proportion of your capital are you risking to achieve that per trade?Scalping2go wrote:Scalping is to me the most exciting and rewarding of betting. It is important to realise the magic of 70. (If each period you made .5% of your capital it would take 140 periods to double your money.
I'd say you're probably risking too much if you're growing your bank at 0.5% per trade.
Jeff