Quote from Ghost of Cutten:
For those who are interested in the potential for futures scalping, here are my stats from my futures scalping for 2009 so far, I've rounded down the numbers:
P&L: (up to Sep 17th 2009) $199k
Max drawdown: -$3,200
Average daily profit: $1,200
Losing days: 19
Winning days: 146
% winning days: 88%
Some people raise the issue of commissions. Here are my commissions stats (rounded up):
Total commissions for 2009 to date: $24,500
Commissions as a % of P&L: 12.3%
I won't disclose my commission per R/T as it may allow inference as to what markets I trade, and I don't wish to encourage competition. However, I am not paying rock-bottom commission rates as I don't do high volume. My commissions are available for any full-time trader doing moderate volume.
This refutes the claims that consistent profitable futures scalping is impossible or pointless, or that you will be eaten alive by commissions or algos. There are algos in the markets I trade, they compete for edge but do not eliminate profitable trading opportunities.
Bear in mind I position trade as well so I am not a full-time 100% dedicated scalper. 2009 has also been a relatively quiet year with declining volatility and so my scalping profits are quite a bit less than in 2008. A more dedicated full-time scalper of equal ability should outperform these results by a fair margin.
N.B. I will not make any response to questions about this post. I have presented true data from real life trading - draw such lessons as you wish.