make 10 pips a day easy

Well, trading is one of those few things that is indeed so, so easy and blindingly obvious - in hindsight.

btw it's not a question of giving the op a chance, it's a question of giving the thread a chance to see if the trading content holds any interest (positive or negative) for members.

Just thought I'd wind you up to start my morning ;)

Peter
 
Hey John

If you are that confident that the advice you provide is sound and successful why don't you offer this free of charge with one condition - that those who do join give you a percentage of their profits.....
Trust is a two way street after all.
 
Ok, just to make sure i got this right : 'when price goes two pips away from a gap trade it. never trade for the gap to be closed. only to the edge of the gap. Often price will only come to the edge then bounce off.'

So if the last 1M bar 5690 , then the next bar opened at 5695 , so a gap noted. Then wait for the price to move to 5697 and then short it at 5697 for a 1 pip limit (5696) and a SL of 10 pips.

Have i got that right?
 
I couldn't really care if he's a vendor or not, because I can't see how this 'strategy', if that's what it is, will work, especially with spreadbet. For one thing, where are the gaps when prices are quoted to decimals? And even if there are gaps and you could somehow get filled at the exact level you want, how long will it be before the SB accuse you of scalping, trading on latency, unfair use, or one of the other excuses they have to get rid of clients who trade a lot and make a profit? Maybe you could stay under their radar at a quid or two per point, but why bother to make £50 - £100 a week?
 
This "strategy" would take a half witted coder about 30 mins to program. That'll soon tell you if it "works".

It blatantly looks great on paper until you factor in spread / costs / slippage. Then you're probably on b/e and most likely a gradual diminishing equity balance. I tried a similar strat "out of interest". After successive wins you think you're home and dry but then come the 1, 2, 3, 4 losses and you realise why it's NOT a strategy.

Keep trying it and selling it tho. Some mug will bite.
 
After successive wins you think you're home and dry but then come the 1, 2, 3, 4 losses and you realise why it's NOT a strategy.

Isn't that always the case with any strategy, unless one has teh holy grail that never has a losing trade?
 
Ok, just to make sure i got this right : 'when price goes two pips away from a gap trade it. never trade for the gap to be closed. only to the edge of the gap. Often price will only come to the edge then bounce off.'

So if the last 1M bar 5690 , then the next bar opened at 5695 , so a gap noted. Then wait for the price to move to 5697 and then short it at 5697 for a 1 pip limit (5696) and a SL of 10 pips.

Have i got that right?

not quite.

at 5690 to 5695 is a five pip gap. only trade a one pip gap. if at 5690 price moved ot 5691 then you wait until it is at 5693 and trade it to the gap.

one pip gaps only
 
Hey John

If you are that confident that the advice you provide is sound and successful why don't you offer this free of charge with one condition - that those who do join give you a percentage of their profits.....
Trust is a two way street after all.

I am more interested in opening some sort of constructive dialogue to discuss this strategy and im willing to share what i know and have learnt. We can all learn from each other.
 
I couldn't really care if he's a vendor or not, because I can't see how this 'strategy', if that's what it is, will work, especially with spreadbet. For one thing, where are the gaps when prices are quoted to decimals? And even if there are gaps and you could somehow get filled at the exact level you want, how long will it be before the SB accuse you of scalping, trading on latency, unfair use, or one of the other excuses they have to get rid of clients who trade a lot and make a profit? Maybe you could stay under their radar at a quid or two per point, but why bother to make £50 - £100 a week?

you are right, it is impossible to trade this way via spreadbetting companies. They will stop your trades getting filled not to mention their platform useage. you need a single click platform so you can put on trades quickly and adjust them as needed quickly. fiddling with the likes of ig or spreadex platforms are a joke for this style of trading. check out these videos explains how brokers and spreadbetting companies work Forex Trading Execution | Currency Trading | FXCM
 
Isn't that always the case with any strategy, unless one has teh holy grail that never has a losing trade?

You wont win trading until you realise that it isnt about "hit rate" but about "winners vs losers"

You are far more likely to make money with a 30% hit rate than with a 95% hit rate.
If you know why, you're probably profitable.
 
Isn't that always the case with any strategy, unless one has teh holy grail that never has a losing trade?

No not at all. I tend to have an equal number of winners and losers. Losing trades are not a problem.

I'm amazed anyone could even think losing trades are a problem !
 
After successive wins you think you're home and dry but then come the 1, 2, 3, 4 losses and you realise why it's NOT a strategy..

No not at all. I tend to have an equal number of winners and losers. Losing trades are not a problem.

I'm amazed anyone could even think losing trades are a problem !

Missunderstanding, maybe,
D70's post made it sound like the bad thing about teh method was that it had losing trades - hence my post.
Although, naybe he was saying that the bad thing was that a few losing trades would wipe out lots of winners?

Either way, i'm new(ish), but am doing rather well and intend to follow my own path.

cheers
 
you are right, it is impossible to trade this way via spreadbetting companies. They will stop your trades getting filled not to mention their platform useage. you need a single click platform so you can put on trades quickly and adjust them as needed quickly. fiddling with the likes of ig or spreadex platforms are a joke for this style of trading. check out these videos explains how brokers and spreadbetting companies work Forex Trading Execution | Currency Trading | FXCM

So are you saying you use the FXCM spread betting account, but because they have no dealing desk execution this allows you to use this scalp strategy even though it is in a spread bet wrapper?
 
Why dont you trade futures, where the spread is smaller (at 0.5)?

Because either:

1. He doesnt have enough money
2. He doesnt know what a future is
3. He doesnt know what a spread is

Vendors are all the same. Big on chat, small on knowledge.
 
Because either:

1. He doesnt have enough money
2. He doesnt know what a future is
3. He doesnt know what a spread is

Vendors are all the same. Big on chat, small on knowledge.

Or maybe it just doesn't work, no matter whether it's SB or futures. The best result would probably be a series of small wins followed by a much bigger loss that wipes out the profit.
 
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