ES Journal - 2021/2022

[Laissez Faire]

Realistically everyone trading multiple contracts gets slippage at some point but yes - it is rare for him to get slippage. ES very liquid.

Interesting. I don't know how your friend trades, but I imagine the results would be different for an intraday 'swing trader' and a scalper moving quickly in and out of the market where ticks actually matter.

While generally very liquid - the market can be thin at turning points and certain levels - which is where I've gotten partial fills on my cute 5-lot.

 

[Relentless]

Interesting. I don't know how your friend trades, but I imagine the results would be different for an intraday 'swing trader' and a scalper moving quickly in and out of the market where ticks actually matter.

While generally very liquid - the market can be thin at turning points and certain levels - which is where I've gotten partial fills on my cute 5-lot.

He's almost always all in and all out @ 1 point (probably similar to the guy you talked about a few times chiseling out very small pieces at big leverage). Sometimes he will let it run but since he's gotten to 100 I believe he just sees it unneccessary most times to reach for more than $4600 after commissions. Plus his trade count per day seems to average around 3 (typically between 1 - 5).

Honestly, the really amazing thing is he just turned a $15K account into $315K - and he started running it in the beginning of August.

Hell of a run so far to say the least.

 

[formikatrading]

THEN AND NOW

Then (when you should have bought):

Now:

 

[virtusa]

THEN AND NOW

Then (when you should have bought):

View attachment 270687
Now:

View attachment 270688

Journalists are paid to fill pages in magazines, and to make video clips for entertainment.
If they would be real experts, they would be rich from trading or investing. They wouldn't be journalists.
Trading and investing requires also a daily follow up, while journalists only use "spectacular" events to attrackt people. News should not be of any quality, it should be spectacular, because that's what attrackts readers (so $$$).

 

[Laissez Faire]

He's almost always all in and all out @ 1 point (probably similar to the guy you talked about a few times chiseling out very small pieces at big leverage). Sometimes he will let it run but since he's gotten to 100 I believe he just sees it unneccessary most times to reach for more than $4600 after commissions. Plus his trade count per day seems to average around 3 (typically between 1 - 5).

Got it.

At one point a single large player should start getting issues, though. I'm curious where that limit really is on ES. In comparison, I've heard that people start getting issues on NQ with as little as 10 contracts.

The 1-point per day guy I mentioned would routinely do 30-50 contracts, but I spoke with another guy too who claimed to be doing 100 contracts (but with no limits on daily trades like the 1 point per day guy). Instead of trying to capture a bigger pot his focus was simply on scaling up number of contracts. Last I heard he had taken a hit, though, and scaled down a bit.

Honestly, the really amazing thing is he just turned a $15K account into $315K - and he started running it in the beginning of August.

Hell of a run so far to say the least.

Wow. That's an incredible run for sure.

Any more details on that story?

 

[Laissez Faire]

Have to stay bullish medium term in this environment, but prepared for some weakness early next week. Someone became a bag holder on Friday.

 

[Spooz Top 2]

I looked Marty Schwartz up on Amazon. Is it "Pit Bull"?

Great read & very entertaining... Buzzy takes you into the mindset & the Pit where even the tombstones vote in Chicago... Unlike Lewis Borselinos book which went into my fireplace... brutal self promotional rag!

 

[mervyn]

wow, just lucky enough to lock in at 4705 before it dived, easy trade is done for the day, 100 points. also 32 points for NQ 1 contract. need to go attending tsla now.

 

[mervyn]

He's almost always all in and all out @ 1 point (probably similar to the guy you talked about a few times chiseling out very small pieces at big leverage). Sometimes he will let it run but since he's gotten to 100 I believe he just sees it unneccessary most times to reach for more than $4600 after commissions. Plus his trade count per day seems to average around 3 (typically between 1 - 5).

Honestly, the really amazing thing is he just turned a $15K account into $315K - and he started running it in the beginning of August.

Hell of a run so far to say the least.

how big is his account size? that has a mental effect, I could do more but drawdown even for few points is scary.

 

[Relentless]

how big is his account size? that has a mental effect, I could do more but drawdown even for few points is scary.

It started at $15K in early August. Currently its sitting at $315K.