es profit on 1/4 point can it be done?

phoenix_rising · Oct 6, 2006

Quote from saxon22:

... I **presume** and if I am going with the trend **eventually** I will get filled especially if the tick goes another 1/4 or 1/2 up.

It does seem easy just looking at a chart. I'll give you that.

ishallreturn99 · Oct 6, 2006

as for fills, remember that you will ALWAYS get filled on a loser, but not nearly so on the winners.

I agree with bitstream, just give it a try.

W

Banjo · Oct 6, 2006

bitstream is right, what you're accepting as truth in the equation without examining the absurdity of it is the underlying tenet of scalping.You have to have a win/hit rate of nearly 100% since the expectancy is capped at such a small #. Round #'s of $5 commission and $12.50 for the quarter point mean a win is worth $7.50 and a loss cost $17.50, one loss effectively wipes out 3 wins. You can literally almost never be wrong, something you're glossing over as do-able, it's not. Firms that do this use algorythmic trading, size and very low commission. Your bet will be talking directly to their bet.

saxon22 · Oct 6, 2006

Quote from Bitstream:

fact is that in the read world of tradin', with real orders and real money on the line things turn upside down and that's when all the most beautiful dreams get shattered; don't worry tho, u may decide to ignore the advice u gotten in this thread, but reality will catch up with u as soon as u enter your first trade.

Time will tell, time will tell. I have heard that lack of plan and discipline will make even the best of traders into fecal matter.

As for advice: I never ignore it I just not always take it.

saxon22 · Oct 6, 2006

Quote from Bitstream:

u know what, stop guessing', open an acct and try out.
come back after a couple month and tell us how u fared.

It has nothing to do with guessing. Opening an account and trying it out would the easy part. I need more time, but when I am good and ready I will give it a try.

saxon22 · Oct 6, 2006

Quote from phoenix_rising:

I have tried this, using both market order and limit order methods. And for this type if micro-scalping, a simulator doesn't really cut it. The only way you'll really see if it works is to go at it live. And in case you are wondering, I am not using this sort of system. I do hope it works out for you though.

I am glad you gave it a try. How did it look when you put it to test in real life???? Can you provide more details???? Inquiring minds want to know.

saxon22 · Oct 6, 2006

Quote from asterisk:

You might try scalping for two ticks with E7 instead.

Thanks for the tip, but I have invested too much time watching, analyzing and researching ES to switch to E7 now. I want to see if this will work in ES market. Nevertheless, thank you for your input, maybe in the future I look into E7.

saxon22 · Oct 6, 2006

Quote from Bitstream:

u know what, stop guessin', open an acct and try out.
come back after a couple month and tell us how u fared.

Your response doesn't really address the issue does it?

saxon22 · Oct 6, 2006

Quote from phoenix_rising:

It does seem easy just looking at a chart. I'll give you that.

Thank you for seeing it from my angle. I am not a veteran trader and I have not wet my feet at the fountain of trading yet. So maybe my system is full of ... hot air, but thisis what I have been able to come up with so far. Maybe, once I have a couple of years of trading behind me and my nick will have couple thousands responses next to it, I too would look at my post with a smirk. As for now, from the charts of it, it looks like it could make $$$$$$$.

saxon22 · Oct 6, 2006

Quote from Banjo:

bitstream is right, what you're accepting as truth in the equation without examining the absurdity of it is the underlying tenet of scalping.You have to have a win/hit rate of nearly 100% since the expectancy is capped at such a small #. Round #'s of $5 commission and $12.50 for the quarter point mean a win is worth $7.50 and a loss cost $17.50, one loss effectively wipes out 3 wins. You can literally almost never be wrong, something you're glossing over as do-able, it's not. Firms that do this use algorythmic trading, size and very low commission. Your bet will be talking directly to their bet.

I see your point and ..... it worries me.