Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Webinar: FuturesTrader71 (FT71) Morad Askar on Getting Started Scalping
Thanks, Koepisch. I hope you found it useful. Thanks again to Big Mike for inviting me on.
I'm also very happy that my partner Anthony and Mike have worked out an arrangement to support this site by becoming a sponsor under Stage 5 Trading. We have wanted to do something with futures.io (formerly BMT) for a while and now is the time.
Cheers!
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Can you help answer these questions from other members on NexusFi?
Using the Excel Solver feature and setting the cost per year for non-member equal to a leasing member, it shows that the break-even point at current leasing rates ($325 per month for IOM seat + $2000 application fee) is 353 roundturns per month for the 1st year. This translates to around to around 17 roundturns per day. Remember this includes the application fee that would be a cost on the 1st year.
After 3 years, the breakeven point is 274 roundturns per month or 13 roundturns per year.
Owning a seat for 3 years only makes sense if you are doing 308 roundturns per month.
This is very hard to read in this market. It used to be very readable and useful back in 2000-2004, but it is just noise now. There are systems that are executing size while flashing fake bid/ask but still executing so are not subject to violations of Rule 575.
In short, not very useful....
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Awesome feedback, Shamal. Thank you! And I agree that scalping is relative as far as time frame or price targets.
Since 2009, I have taken it upon myself to come out into the public and really stand up for what trading really is (this happened after I wasted $2,500 on a seminar that was worthless). My goal is to keep traders involved with the market but in a sustainable way. This is what this is about for me. This job is not easy, but it truly is simple. Our minds like to complicate it and bring certainty into an arena that lives on probabilities alone.
Wishing you the best of luck.
FT
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
I came into trading as a scalper, so this is an area that I know extremely well.
As far as the tick stream/market flow, my comment here relates to the fact that I was running the reply at 10x speed so that the trades were moving away from my objective faster than normal. I was missing a tick stream that would show me the velocity of the prints in any given direction (helps show aggressiveness and interest) as well as a volume delta chart to show which way size is firing off more.
Also, I scalp in the context of my key trading ideas for the day. I chose 10/13 to trade at random. I don't think a demonstration is valid where I hand pick the day and the setup/context since I already know what will happen and it seems to me to be a fake way of demonstrating how things run in real time. I would have preferred to have someone request a day and time at random but I don't have much replay data in Ninja (my main trading platform is the S5 Trader, so Ninja is not a comfortable tool for me).
However, given a chart with profiles and the key levels that I mark, I think it would be easier for me to outline what I expect vs. what is happening and why I'm reacting to it. I'm covering this all in the upcoming Trader Development Program I'm initiating over the next few months. This will be much clearer at that point and it is more usable information, in my opinion.
Best regards,
FT71
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Or you can simply join Stage 5 Trading and have it for free. The product is proprietary and it was created by me for my prop shop/ prop traders. The results of the TA are stored by our online trading clients and are sent to me when they are seeking analysis or help. This is the real value of the tool above and beyond what it is telling you in real time while you trade.
Oh... and the S5 TA has copyrights.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Excellent points! Yes, this wasn't meant to be a "let's look at my scalping plan and copy it" but more on the basics of scalping and the tools that I use. Context was definitely missing but that was on purpose. The goal was to show that cutting losses/managing risk allows for the opportunity to catch a runner that makes the risk worthwhile.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread