AutoScalper

Welcome to AutoScalper, the home of automated futures, stocks and Forex scalp trading!
AutoScalper_10 is a program which trades almost any future, stock, or Forex product available on the InteractiveBrokers Trading platform automatically (TWS, www.interactivebrokers.com). But it is as well a great tool for the aggressive-styled trader who needs to be able to anticipate on the market movements immediately.

AutoScalper's features in conjunction with TWS:

super-fast execution speed
fully automated
managed risk
flexible settings

How AutoScalper works:

The classic type of scalping involves of placing a buyorder on the bidprice, and placing a sellorder on the askprice. When both orders are executed the trader gains the difference between the bidprice and the askprice, minus the trading costs. With AutoScalper you can automate this process and repeat this hundreds of times a day, depending on the liquidity of the market. You set the orderprices, the stoploss, measured in the product's minimum-price-increment, and when to trade, and AutoScalper does the trading.

Please click here to see our Flash-demo-movie (7MB) where AutoScalper places 3 winning (classical scalp) trades on the eMini Nasdaq (NQU8) and gains 1.5 NQU8 marketpoints in just 50 seconds.

Please visit the rest of this website to explore the possibilities of AutoScalper, or download our free, fully functional, AutoScalper_10 trial version. Examine our features like backtesting and "AutoFind" to fully automatically backtest 100.000s possible trading combinations and export them to Excel for further analysis. Trade NQ Futures (eMini Nasdaq, GLOBEX), Oracle stocks (ORCL, SMART) or USD/CHF (Forex) for free with AutoScalper_10 trial!

AutoScalper's Autotrade Settings:

AutoScalper is not limited to only placing classic scalp trades, but you can refine the prices and determine when to trade.

How does AutoScalper work? Simply put: it throws in a sellorder and a buyorder, waits untill these (limit) orders are executed, and throws in a new combination of a buyorder and a sellorder.

When only 1 order is hit, and your position is at your defined stoploss point, AutoScalper will change the resting limit-order to a market-order for immediate order execution, and thereby terminating this losing position.

Then it starts over again by placing the combination of a buyorder and sellorder, and so on.

When to trade settings:

You decide when AutoScalper places the trades: immediately after activating AutoScalper and than after each execution of the combined order (Order # 1), or after 1 (or after even up to 5 consequtive) uptick(s) in lastprice/askprice or bidprice movement. And/Or after 1 (or even up to 5 consequtive) downtick(s) (Order # 2) in lastprice/askprice/bidprice movement. Order # 1 is a combination of a buyorder and a sellorder, placed after an uptick or when immediate trade is selected, Order # 2 is a combination of a buyorder and sellorder invoked after a price downtick.

You can select when to place Order # 1, and define it's price compilation, and when to place Order # 2 with it's own price compilation. If Order # 1 will be executed, or Order # 2, depends on which occurence of when to trade happens first. For example: you set Order # 1 to place his trades after 1 bidprice uptick, and Order # 2 after 1 lastprice downtick. If the lastprice goes down before the bidprice goes up, the combination of orders from Order # 2 will be executed.

You can check the tradelog in AutoScalper to see what occurences triggered the orders, and also if they made you a profit or a loss.StopLossStoploss and profit are measured in the product's minimum-price-increment, for example in the eMini Nasdaq at Globex (NQ) it's 0.25 marketpoints.

We will refer to this minimum-price-increment as MinTick. The profit or loss (PnL) of a position will be determined by it's direction: if the position is "long" the PnL will be the position's buyprice in relation to the market's bidprice, if the position is "short" the PnL will be the position's sellprice in relation to the market's askprice. The trader determines how many MinTicks will be the point of Stoploss.

You are in a Stoploss position when only 1 of the 2 placed orders is executed and the PnL of this position will be even to (or smaller than) 0 minus the value of the user selected MinTicks. At this point the not-executed order will be changed by AutoScalper to be executed immediately at the current marketprice to close this position. Price CompilationWhen you made the when-to-trade selection it's time to create the prices for Order # 1 and, if needed, for Order # 2.

The orderprices are based on the last received lastprice/bidprice/askprice, and can be the same, or higher or lower based on the selection of + or - in combination with the number of MinTicks. For example: to set up AutoScalper to perform classic scalptrades, select buy at bidprice, than select sell at askprice, can be done at Order # 1/2/both. But you can also widen the margin by selecting: buy at bidprice - 1 MinTick and sell at askprice + 1 MinTick. You can define even different order compilation prices for Order # 1 and Order # 2, and varying the number of MinTicks from 0 to 99.

Scalp Trading tactics with AutoScalperScalping the market (profitably) involves good preparation: you must identify the most profitable times and settings to provide to AutoScalper. In order to make money on the markets there must be movement in the prices, but not too much! Many scalptraders avoid the hectic opening- and closinghours of the markets, and prefer to trade when the small market movements are more predictable.

These small movements may look like 1 tick up, 1 tick down, 2 ticks up, 2 ticks down, 1tick up, 1 tick down etcetera, you get the idea. A scalper tries to make profits on these movements as many times as possible, and must be ready to place hundreds, or even thousands, trades a day. This involves a lot of effort from the trader, he has to be focused all the time to bail out when his position runs against him too much, and must be ready to place new orders instantly.

A scalporder (buy and sell) can be executed within 3 seconds or less, but it can also take up to 10 minutes or more. This is where AutoScalper comes in, it handles automatically the placing of new orders and taking stoploss if needed, without the risk of getting tired and influencing your trading strategy. Being profitable on the market all the times is impossible, but being profitable in the time you choose to let AutoScalper trade automatically is up to you.

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