Scalp Trading S&P 500 on IG?

[aceofswords]

Having read a few threads/posts on this site, regarding IG, can anybody out there in T2W land advise on whether its a viable platform for scalp trading. Having embarked on my journey with the best trading educator on earth (losing vast amounts of $$$, through the usual newbie nonsense), I am about to dive in again soon with [hopefully] more realistic expectation, discipline and the benefit of much appreciated advice from this site.

This time round I'll be:-

Using a decent computer set up

Studying wave patterns

Using and reading indicators

Learning to read 'the tape'

Will have a trading plan

Determined to stay in the game for the long haul (long distance rather than sprint etc)

And also..................Please add to list (p*ss taking welcome!)

Thanks in advance.

 

[William Waller]

Hi Ace,

Personally, I wouldn't advise scalping for a new trader full stop. You are just making things very hard for yourself and I think that it really requires a great deal of experience.#

WRT IG, are you talking about spreadbetting or DMA? If you must do it, you won't find many people who regard spreadbetting as a viable option.

Sir William

 

[arabianights]

This will be close to impossible; at the very least doing it by spread betting is stupid, the costs of the spread will way override any tax benefits.

 

[aceofswords]

Hi Ace,

Personally, I wouldn't advise scalping for a new trader full stop. You are just making things very hard for yourself and I think that it really requires a great deal of experience.#

WRT IG, are you talking about spreadbetting or DMA? If you must do it, you won't find many people who regard spreadbetting as a viable option.

Sir William

Thanks for the tip Sir

Not interested in making things any harder than they already are!!!!

 

[aceofswords]

This will be close to impossible; at the very least doing it by spread betting is stupid, the costs of the spread will way override any tax benefits.

Good call arabian, not only have you saved my bacon, I'll now be able to trim the fat too!!!

If I switch to Ninjatrader, do you have a low cost/efficient broker and live feed you could reccomend?

 

[anley]

Why if you';ve studied with the 'best trading educator on earth' are you wanting to scalp?

it just doesn't make sense.

Nor does it make sense you want to scalp using spread bets. Surely the 'best trading educator on the planet' wo9uld have educated you about the 'cost of doing business'?

 

[aceofswords]

Thanks for the tip Sir

Not interested in making things any harder than they already are!!!!

....Oh and I was referring to SB'ing

 

[aceofswords]

Why if you';ve studied with the 'best trading educator on earth' are you wanting to scalp?

it just doesn't make sense.

Nor does it make sense you want to scalp using spread bets. Surely the 'best trading educator on the planet' wo9uld have educated you about the 'cost of doing business'?

There comes a time in a mans life when he realizes that no man is an Island! this is why I joined t2w, for all the invaluable advice it affords.

I'm planning to scalp using a mechanical system...... any thoughts?

Newbie nonsense coupled with an imac (that for some reason will not take the windows 7 disc (s) I bought) has led me to conclude that I need to invest in a dedicated computer system, dual monitor etc.:clap: