Retail traders can effectively use the Protrader tool for quick manual scalping
Short- term imbalances in the price of an underlying often lead to widening of spreads irrespective of whether the asset classes are trading on an “Exchange” or on “Over the Counter” markets. Market participants trading the differential are typically called scalpers, who generally combine large volumes with small profits to make a quick buck from the price volatility arising in the bid- ask spread, before it narrows.
In high- frequency manual trading where strategies are typically based on ultra-short-term entries and exits, the effectiveness of a strategy depends on the speed at which traders are able to execute orders successfully. Time plays a very crucial role not only in opening fresh trades, but also when it comes to trade management; which includes modifying pending orders and closing existing positions.
The tools in the Protrader manual scalping panel are used to do just that. The multi- asset platform combines a variety of tools to assist retail traders in manual scalping. The scalper panel uses time and sales, market depth, impulse and overlay indicators to provide retail traders the opportunity to rapidly enter and exit trades profitably. To add more zing to manual trading, users have the option to filter entries according to their requirements and highlight volumes on the panel based on pre- set parameters.
The other key features of the scalper panel include
- One-click mouse trading.
- Automated stops, trailing stops and profit targets once positions are opened.
- Three levels of order entries.
- Bid-Ask spreads displayed along with corresponding volumes.
- Option to track linked assets using overlay indicators.
- Ability to monitor impulse movements of linked assets using impulse indicator.
- Time & sales and market-depth to view vital trade points.
- Facility to track price dynamics of large trades
The scalper panel is an efficient tool for retail day-traders on the Indian financial markets. Launched by Compositedge, a leading discount broker in India, the Protrader platform is packaged with a large cache of features and with the added benefit of discount broking, the platform is already making waves among the large community of retail traders across the country. The robust platform is available without restrictions for all clients having a trading account with Compositedge, which otherwise is currently out of reach for traders in the Indian financial markets. In addition to scalping, clients are provided FREE access to charting tools, the matrix panel, options master and the state of the art, algo trading platform.
Sign-up now to practise on the test version of the platform or open an account to access Protrader for real-time markets.