Scalping FTSE 100 Cash,

[rawrschach]

the cash is the underlying...futures is a derivative

 

[rawrschach]

what

no

infinity is dma = direct market access, not spreadbetting

 

[monkey180]

I think that you can tell that I am a beginner, so if one were to make money from the day trading FTSE futures and DMA is the only way to go?

 

[rawrschach]

not necessarily, but if you want to scalp indices I'd recommend against SB

If you're scalping FX brokers like oanda will charge less than a pip commission and won't care where you put your stop.

 

[monkey180]

For example today on the FTSE there were good chances to make money SB, at 12.51 for example.

I think that I need to try it for real and understand the motions involved.

 

[monkey180]

I am confused, so if I want to scalp "stuff" in a day trading fashion, the best is FX

 

[rawrschach]

I didn't say that

if you can't afford dma and want to scalp for whatever reason eur/usd with a tiny spread might be doable

 

[monkey180]

I see, so there no good way to scalp the FTSE 100 cash?

I thought scalping was like ramming about 100 quid onto a bet, and then getting out after 1 point profit.

Is getting 10 points over about 20 mins scalping or swing?

 

[rawrschach]

no

 

[monkey180]

Thanks for your help but, when you say no do you mean there is not good way to scalp the FTSE 100 cash, or getting 10 points over about 20 mins is not scalping?

 

[rawrschach]

no good way to scalp the cash

i already mentioned the problem with aiming for 10 points. Even if you're consistent you're still paying 33% commission.

 

[monkey180]

Black Swan was saying that you are looking a 5 points spread with IG costs before profit, are you in agreement with this statement for small bets?

 

[rawrschach]

dunno anything about IG but I was using his example so yea

 

[monkey180]

I see, so if the live feed price goes up 10 points in IG you are looking at taking about 2 - 3 points of profit.

So if I look at the Tick by Tick chart on IG or an other SB comapny, if I was placing big bets the graph would not look the same?

 

[Black Swan]

Black Swan I do appreciate your realistic approach, would IG play around that much with less then 10 pounds a point?

Is there a SB Firm that does not fiddle?

Aghhh!! Not again...

Look it's not about them "fiddling", it's about them not being set up (deliberately) to accept/invite genuine scalping, which isn't the misconception of scalping you imagine it to be...

 

[monkey180]

Ah I see Black Swan, your clear cut advice is most welcome, please tell me what scalping is in your mind? And what activity do they deliberately set up to avoid?

 

[Doomberg]

Black Swan im aware that you are well informed regarding trading, but i do speak with a few professional traders throughout the day while im doing my trades and i often ask what price they have, eg FTSE is 5753 what have you got? and IG seems to be spot on with their DMA trading accounts tbh, also execution is immediate in my experience 98% of the time... I have done up to £400 a point in the past with bank shares with no issues, im just relaying my experiences and have found it to be ok, most DMA brokers charge more than 1 point Spread anyway

 

[monkey180]

Hi Doomberg, IG offer DMA?

 

[Doomberg]

Monkey, yes purer deal DMA is available with IG but its not available on daily Indices, its mostly for shares.... although if you have £1000 or more in your account you can trade the Futures contracts with exact price that people would pay with say Tradestation... although this is not suitable for Scalping as the spread is wider but there are no commissions on either side like with brokers

 

[monkey180]

Ah yes I was aware that they do DMA with the L2 trader, but not with indecies as you say.

Black Swan what is scalping in your mind, I do not think that going for 10 -15 over as much as an hour scalping, is scalping not putting hugh amounts on a get getting a couple of points.