Thursday, December 3, 2009

US$45,000.00 profit in ONE MINUTE

"Obstacles are things a person sees when he takes his eyes off his goal" - E. Joseph Cossman

Met up with Super Scalper at a dinner reception on Monday night and since he specialised in the SGX Taiwan futures contract, I asked whether he managed to Yum the Friday opening trade.

Cool as a cucumber, he revealed that he made around 4,500 ticks in the Taiwan December contract on Friday in less than a minute. That's US$45,000.00!!!! Wow! Using the fastest trading platform, he uses the auto spreader to buy up to 280 lots of spread when the December was sold down. Risk Free! with heavy bid in the November.

Super scalper is one of the sharpest trader I knew on the floor, his brain works like a computer in crunching numbers between cash and futures prices against the spread at the end of the settlement month. Being a spreader myself for more than 20 years, I lose out to him miles away. He hardly hold a position for more than 5 seconds.

Super scalper trade without charts, wakes up at 6 am to read the news and check the US market to prepare for trading at 8.45 am. Very focus, concentrate only on one contract using the movement in the Taiex (Taiwan) as a guide and sometimes arbitrage against it when the opportunity arises.

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