wow 5 dollars a side? That’s borderline criminal. Do you have a source for that? If so their competition loses all credibility (they were already questionable without that) in my eyes.
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From Micros to Millions: 2% per day
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wow 5 dollars a side? That’s borderline criminal. Do you have a source for that? If so their competition loses all credibility (they were already questionable without that) in my eyes.
It's a hypothesis among others. As for a guy like this not getting hired by quant funds, I think when they are able to trade factors 'properly' with statistical arbitrage, doing things the way Davey (and e.g. Connors, Alvarez just to put in a few more names there) with entry/exit rules is unnecessary and inferior.
Rarely people in that context like to talk about Sharpe ratios of their strategies' performance, presumably for a reason.
Excellent post, eternaldelight. And thanks for the kind words
But it is exactly how you say (and garachen also agrees with us): in leveraged trading, scalping, trading futures on margin, it makes little sense to me to talk in percentages. Percent profit on what ? And does it matter at all ?
I make my money scalping futures, but I take a good part of the profits each month and put them into a boring buy-and-hold-forever stock investment account. That account is a cash account, no leverage. On that account, at the end of a month, at the end of the year, I like to have a look, how did my investments perform, did I make +5%, +8% or -30% this year ?
But in my futures trading account(s), first of all those numbers would not make any sense. How should the return be calculated, based on what ? And second, and more important to me: I just dont care. What does it matter if I make 208% this year, if those 208% are only 1700 USD ? I prefer to have a solid positive cash flow each month, thats what counts to me, thats what matters. Even if it would be only 4% based on some strange calculation, I could still not be happier, if it pays the house, car(s), bills and all the other things I need.
Very nice scalpi. Was this mostly in the FDAX ?
Thanks
It was mostly with FDXM, (Mini Dax). I am still very cautious.
So normaly I have around 100 Points a day, not so bad. But need to change now to FDAX ...
Yesterday was Losing Day #1. Yesterday was a chop fest and I ended the day down $27 after commissions. I was actually slightly positive at the end of the day, but then the statement came out and showed me the true impact of micro commission. LOL.
Usually balanced or big range days like yesterday are my favorite and most profitable days, but the wild swings were something to behold!
Today, in contrast, may be my Best Day So Far. After 7 days of mostly bearish action, I decided to focus on longs as part of a relief rally. I was spot on. I still scalped it to death, and I did take some shorts, but longs ruled the day.
I crossed the $7000 threshold today, and I can now trade with up to 7 micros at a time.
While I am a scalping maniac, I have learned to mostly trade in the direction of the 50 and 10 SMA's. I can fade the action along with the best of them for 1, 2, or 3+ ticks on the MES, but I have been bit hard a lot recently because of failed counter-trend trades in this highly charged stimulus-driven market. When prices want to MOVE then I should get out of the way so I don't get crushed. My solution? Don't fight the 10 SMA (much). EASY.
Yesterday's update:
Usually balanced or big range days like yesterday are my favorite and most profitable days, but the wild swings were something to behold!
Today, in contrast, may be my Best Day So Far. After 7 days of mostly bearish action, I decided to focus on longs as part of a relief rally. I was spot on. I still scalped it to death, and I did take some shorts, but longs ruled the day.
I crossed the $7000 threshold today, and I can now trade with up to 7 micros at a time.
While I am a scalping maniac, I have learned to mostly trade in the direction of the 50 and 10 SMA's. I can fade the action along with the best of them for 1, 2, or 3+ ticks on the MES, but I have been bit hard a lot recently because of failed counter-trend trades in this highly charged stimulus-driven market. When prices want to MOVE then I should get out of the way so I don't get crushed. My solution? Don't fight the 10 SMA (much). EASY.
Yesterday's update:
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Outstanding results for the FDXM. How many contracts ? And did you scale in ?