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Washington DC, USA
Experience: Beginner
Platform: Ninjatrader
Broker: Ninjatrader / Rithmic
Trading: ES
Posts: 4 since Mar 2014
Thanks Given: 1
Thanks Received: 2
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I took a trade at the open early hoping to scalp a tick or two playing off of the arbs in the ES. I'm able to see the SP premium, the ES, and the cash market, so I know that when the premium deviates beyond levels that will start up the arb programs. I put the order in and the market moved quickly against me, and I scratched it for a 5 tick loss (I couldn't act quick enough).
Lessons from this trade:
- when scalping, keep my finger on the trigger. I lost 3 ticks because I wanted out of the market and by the time I reached my mouse, the market moved against me.
- I need to learn more about scalping arbs. The "profit" in the trade came from a number of places - at first it came in the cash market, then the cash market bottomed out and the trade came from the futures side. As soon as the futures side of the market was tapped out, the bottom fell out of the futures market.
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