IOM membership?
From Micros to Millions: 2% per day
- Thread starter sstheo
- Start date
IOM membership?
It seems like I misinterpreted the statistic as 67 points per contract. Regardless, I'd say that anyone who's consistently profitable in ES or whatever market is doing really well. But like you pointed out earlier - he needs to maintain that high win rate. His strategy really depends on that.
@sstheo,
Maybe you won't agree, but I personally think it's very nice to track ticks/points per contract. As you scale your account it's a great way of keeping track of your relative performance, but it can get messy if you're scaling in and out.
Good luck either way.
IOM membership !
It seems like I misinterpreted the statistic as 67 points per contract. Regardless, I'd say that anyone who's consistently profitable in ES or whatever market is doing really well. But like you pointed out earlier - he needs to maintain that high win rate. His strategy really depends on that.
@sstheo,
Maybe you won't agree, but I personally think it's very nice to track ticks/points per contract. As you scale your account it's a great way of keeping track of your relative performance, but it can get messy if you're scaling in and out.
Good luck either way.
Same here, but it is still a very nice result.
No it does not, you pay 0.35% on the notional value of the shares you buy and you pay 0.35% on the notional value of the shares you sell.
If you buy 100 shares at $250 you pay $87.5 transaction tax, when you sell the shares at $252.5 (1% move), you pay $88.38 transaction. So the profit you made on the position is $250 but you also pay $175.88 in transaction tax and you end up with $74.12 profit.
Now imagine you close the position break even, you still have to pay $175 in transaction tax.
More information here:
https://optimusfutures.com/CME-Lease.php
And here:
https://www.cmegroup.com/company/membership/membership-and-lease-pricing.html
I hope that people understand now that my intention was not to tear down scalpers. Just wanted to say that how many points you make a day is irrelevant if you don't add all the needed information to calculate an objective measurable point to compare with. I added my calculations to show how I came to my opinion.
I did not miss anything. Some others did.
I think CALLumbus was refering to the 33% taxation that I posted. Not the transaction tax of 0.35%.
If you make $1,000 profit in stock A, and you lose $1,000 in stock B, you pay 33% on stock A profits and cannot deduct losses from Stock B. So you end up with a loss of $ 333.
imho given he is trading manually his success depends on his ability to handle instances where the mean reverting behavior he seems to be counting on breaks down. you don’t want a nasty mean reversion break down wiping out a big chunk of your winnings.
you need an iron clad risk mitigation framework
Which info did you miss ? I think ssthe mentioned everything thats needed to understand how he works.
At the end of the day/week/month, all that matters if you make money or not.