Scalping is a day trading strategy in the financial markets. It infers earnings profits on small price changes. Typically, scalping
is carried out in a short period of time; fraction of a second to a few minutes. Market activity for scalping can be found almost
any time and there is no need to wait for a signal to be generated or a certain trend to be formed.
There are generally three methods of scalping:
It is used to determine the imbalance between the volume of demand and supply that could lead to directional
They are impulsive directional movements in the traded instrument due to external markets.
Combines features of the first two methods and is currently used in Protrader.
The top panel of the Scalper consists of the Symbol lookup, trading and Menu buttons.
Scalper settings can be activated by
Right- clicking within the scalper panel and selecting ‘Settings’
By using the drop- down in the top right corner of the panel
Customize settings according to your trading requirements. The panel comes with the following settings-
3) Time & Sales
4) Market depth
5) Impulse Indicator
6) Overlay Indicator
Here, you can set line types, colours and steps for the horizontal grid that is used in the charting area. In addition, you can also
activate auto center functions for quotes based on Bid, Ask or (Bid + Ask)/ 2.
Customize your default trade settings using the following functions
Note: Limits can be changed if trading is carried out using hot keys.
If checked, all pending orders are cancelled after closing the position.
If checked, on placing a new order, the platform will check for open positions, delete all existing orders before a new
position is opened.
If checked, after opening or editing a trade, SL/TP will be added automatically. If unchecked, the orders can be added
Allows setting the default offset values when placing different types of orders.
There are three different combinations that can be set by users-
Ex: You can set your trading parameters as shown in the following figure
You can choose how you would like to execute orders from this window. You can select ‘Offset’ which is calculated as the minimum
tick size from the price selected. Ex. bid, ask, last.
Following are some of the key pointers of offset prices-
Orders can either be placed as ‘limit orders or market orders.’
In the case of market orders, you are also required to place the ‘Maximum slippage value.’
Ex: If you wish to go long in ‘Axis bank’ at the market price, say Rs. 500. If you set the max slippage to 5, the order will get executed
between Rs. 500- 505.
You can choose from any of the following modes
Permits changing basic settings such as font, colour schemes, size of the bars, width of the vertical bars etc.
Allows selection of a maximum of three symbols that will be displayed at the top and bottom of the panel. You can also set the
max volume for each of the bars to be displayed individually.
Mode – Allows you to select the display in
Displays charts for the overlaid indicators.
Overlay shift – indicatesthe distance in pixels for which the next point of the overlay chart will be built.
Price marker – shows price changes in percentage from the beginning of the day.
Right margin % - allows setting the distance from Market depth section at which the overlay chart will be built.
You can trade from the scalper panel in two ways:
To trade using hotkeys, you have to first define the short- cut keys for the various trade functions from general settings. Once
the short cut keys are defined, activate hotkeys by clicking the ‘hotkeys icon’ in the top right corner of the scalper panel and start
trading using the shortcut keys, it’s that simple.
In the following example, hotkeys for long positions/ close short positions are set to “B”. So, to place fresh long trades or to close
out existing short trades, all you have to do type “B.” Once the order goes through, the S/L, P/L and the trailing stops are
automatically activated based on the limits set in the ‘scalper settings.’
To activate mouse trading, click on the ‘mouse icon’ at the top right corner of the scalper panel. You can place one- click trades
directly from the scalper panel by selecting the price and clicking the mouse button.
Initiate LONG POSITIONS by using the left- button on the mouse and create SHORT POSITIONS by clicking on the right mouse button.
To start placing trades,