NF or BNF for Scalping?

[oi trader boi]

@mkbsiva Sir,I too had a query on BNF scalping,but a different query,pls have a look and answer your views whenever free-

http://www.traderji.com/general-trading-investing-chat/102421-bnf-scalping.html

 

[mkbsiva]

@mkbsiva Sir,I too had a query on BNF scalping,but a different query,pls have a look and answer your views whenever free-

http://www.traderji.com/general-trading-investing-chat/102421-bnf-scalping.html

Slippages cannot be predicted... even 10 points is a normal thing these days.... mainly it depends upon where your order is.... if it is in BRN or in an important pivot... slippages will be high... if it is SL-M order, you can place your order as early as possible, as the FIFO kicks in to fill your order first, to keep your slippage low... or you can keep a SL-Limit to avoid the slippage...

About your stop loss of 20 pts, it also depends upon the volatility of the day and the place where it is...every day and every trade is unique... moreover the algos knows how much to shake the tree...

Normally i never fix targets but i do keep my stops and trail them depending upon the market structure on that particular day...

just a doubt... why limiting to 2 trades a day... ??

 

[oi trader boi]

if it is SL-M order, you can place your order as early as possible, as the FIFO kicks in to fill your order first, to keep your slippage low... or you can keep a SL-Limit to avoid the slippage...

How much points gap do you keep in SL-Limit order?Please give one example for it.(SL-Limit Buy Order for BNF)

just a doubt... why limiting to 2 trades a day... ??

I am very good at taking 2 trades a day,doesn't matter type of market(range,overlapping,trend).
I lost 30% money so far because 3rd trade took my profit=Thats the biggest problem with most Scalpers.
So to be profitable in a long way,2 trades a day with quick small scalps suits my temperament.

 

[mkbsiva]

How much points gap do you keep in SL-Limit order?Please give one example for it.(SL-Limit Buy Order for BNF)


I am very good at taking 2 trades a day,doesn't matter type of market(range,overlapping,trend).
I lost 30% money so far because 3rd trade took my profit=Thats the biggest problem with most Scalpers.
So to be profitable in a long way,2 trades a day with quick small scalps suits my temperament.

I normally keep a 5 to 7 points gap between my trigger price and limit price if it is a pivot breakout... in that case it gets filled even below 5 points some time and if at all it jumps my price it retraces back to fill my order...

Did you analyse the trades which are failed as you have lost 30% of your money...