Es profit on 1/4 point can it be done? Part II
- Thread starter saxon22
- Start date
omniscient
Guest
i'm not sure what you mean by "i see some positions", but the positions with black background and white text are not viewable while price is where it is in the spreadsheet. the viewable depth is always five on each side. that doesn't mean people don't already have resting orders for several full points in either direction. if that doesn't address your question, please explain further.
also, i don't mean to imply what you are trying to do won't work. i am saying that, along with having the commission structure to support it, you need to know as much about the scenario you are interested in trading. even if the edge is razor thin, if you can consistently exploit it, then begin immediately.
hth
Quote from gnome:
"Scalping for quarters" in the ES is like trying to pick up dimes in front of a steam roller.
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Are you saying that nobody in the industry is presently doing it????
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No, what he is saying is that it's a foolish thing to do because the R/R ratio is way out of whack. In other words, you may get a few dimes, or maybe even a handful of them, but sooner or later you're gonna get squished.
"Scalping for quarters" in the ES is like trying to pick up dimes in front of a steam roller.
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Are you saying that nobody in the industry is presently doing it????
==============================================
No, what he is saying is that it's a foolish thing to do because the R/R ratio is way out of whack. In other words, you may get a few dimes, or maybe even a handful of them, but sooner or later you're gonna get squished.
I tested using Open E-cry and the fills are definatley not the same as real...trust me...reversals and fills are off by a tick in the ES...so in a reversal.... thats double trouble!
Also unless your bracket trading and not discretionarily trading you will not be able endure 10 losses in a row...and you will find yourself second guessing and gambling...
I have not read this entire thread, so excuse me if my post is repetitive or been answered..
Michael B.
Also unless your bracket trading and not discretionarily trading you will not be able endure 10 losses in a row...and you will find yourself second guessing and gambling...
I have not read this entire thread, so excuse me if my post is repetitive or been answered..
Michael B.
Quote from saxon22:
Well folks, after reading and educating myself as much as I could I moved to the last stage of my pre-trading education: Live action on a sim. A couple of weeks ago, I forked over a tidy sum to e signal fellows and finally was playing with real life data. On the brokerage side, after analyzing several vendors, I went for Open e Cry platform. Today was the big day because I decided to try my old crusty system of scalping ES for 1/4 of a point. I fought the market all day and ....at the end of the afternoon, the account showed 9812.50 in the positive. Of course around 3300 of it is fees to the broker but still that leaves a nice amount to take home. It was done on a 10 lot with 50.000 in capital. Enclosed, please find XLS file confirming the numbers. I realize that doing it on a sim is not the same as doing it with real money but the mechanics are the same.
(T28 - I am coming for your $$$$$$$ even if they are inferior Australian Dollars.
