I’ve been focusing on scalping FGBL for a few months now. I’ve looked at FESX and some futures in the Asian market but I feel most at home with FGBL. There were some large rips going in to Easter which have made me a little uneasy though!
I’ve played with volume profiles, 1 tick and 3 ticks charts along side my depth and sales. These help me to integrate the large picture but take away from my focus on the D&S. I’m tempted to ditch the tick charts and either mark up my D&S with short term levels, or clear trades between moves. After watching the tick charts for a few weeks I feel like I’m more aware of what medium term signals I want to watch.
I’ve made significant progress in writing some code this month. I continue to underestimate this type of work. Code is relatively easy for me to produce and so often I underplay it’s value. This time I’ve created generic infrastructure that reads level 2 data and provides functionality to run trades against the data. This has given me huge flexibility.
There are many things I want to test and analyse but my first experiment is this…
Where are the optimal places to take a trade?
Pretty important one I reckon. The problem I have found is that I can pick the trend/movement of the price action pretty well, but I often miss the trade due to execution. It’s pretty easy to miss trades when scalping with limit orders. So how do I get in at the correct time, what should I be looking for, etc.
What I’m doing with my code is taking a trade at regular intervals and tracing it’s progress until it either hits it’s stop loss or take profit. The hope is that I will be able to determine times when a trade had a high probability of getting hit and profiting. I also want to look at the potential to enter off market orders. I have many other questions but these are the broad queries.
The trick for me going forward is going to be:
- Focus focus focus. Keeping digging in to D&S and scalping. Ignore distractions, trading and otherwise (damn you Titanfall).
- Find confidence from my own analysis.
- Continue a process of self improvement as per Steenbarger.