Quote from Fast_Trader:
Scientist, thanks for the kind words. I still have a lot to learn, but maybe there is some light at the end of the tunnel.
Also, I personally like the way ES moves. I like the fact that it doesn't spike up or down like DAX. There's a certain comfort in that. Maybe you should try ES again for a day and just SLOW down a little. Why scalp for ticks when you can just do 3 R/T like LSU and bank $3K while paying your broker less than $150. Your style of trading requires member rates, and you're trading with IB. Doesn't make sense to me. You need cheaper commissions man!
-Fast
Well, my preferred trading WOULD require member rates if I was trading ES/NQ, but not necessarily on DAX! Remember, comms on DAX are MUCH lower relative to the leverage you have! I can do about the same I'd do on ES with 20 cars with about 4-6 cars on DAX! Not only for commission though, but also for the volatility factor and much higher $ value swings!
Yes, you can do 3RT like LSU, but that's just not my style. All the power to those who can, but it's not what I do. And besides, while he might do well like that quite often, he also might have some decent losing days or just not too many days as good. Certainly more gyrations in equity curve. I take small trades, but I also take miniscule risks, and have a very high hit rate. Over the course of the day my equity curve is pretty smooth, most days are pretty similar results and I have few losing days. "Swing" traders can't really do that.
Besides I don't have the patience to sit in front of a screen for hours a day, watching the paint dry on a couple of trades. I have done this, and it makes me walk up the walls. I like to be fully immersed and occupied, preferably reading at least 6 charts, 3-4 depths and 3-5 tapes, comparing in all timeframes and just doing it all n'sync. Both "fast eyes" and peripheral vision by the way. I used to trade 3 windows of Nasdaq TotalView once and was loving it.
My NLP coach figured that I can have 7+-2 (up to 9) thought processes going on simultaneously. There is a certain small group of people that can. Most people (over 99%) can only process up to 5+-2 things at a time. Well, matter of fact I really like mine all fully occupied in order to focus.
Ask TMTrader, he's seen me chatting with him synchronously and live while I was trading the US opening on DAX!
It's a bit iffy though, shouldn't be doing that or I'll end up swearing at somebody...
By the way, I've done overnight swing & position trading and it's a great thing to do (and I'll be doing it again soon to take care of excess liquidity), and I have no problem with it. That's how I began trading. But I do have a problem with sitting in front of a market full of opportunities all day long and only taking a couple. What's the point? And I don't tick trade by the way. I'm a scalper, not a tick trader. About 60% of my trades are 1-3pts, 20% are 4-6pts, 10% are 6 -10pts and 10% are 10pts+.
