making one point a day?

Over the years a a lot of talk about one or two points a day have been made.

But the guys who really seem to trade systematically, Say that nobody makes one point a day (per contract) trading the es. I could see discretionary traders doing it.

I doubt anyone with real systems averages one point a contract per day.

That means your averaging a very very large percent of the atr and given that the bid ask spread is wide relative to the atr and the size is very thick, I would say if you really average one point a day with your systems. You had best find away to exploit that system fully right now because it will be very short lived.
 
Quote from protrader-2K5:

thanks all...

Fred... Im not sure if I would be classified as a noobie... although my 2 year old has a sippy cup that is called this.

Been making good profits for 7 years.

exclusive sp's

so you can say I don't know what I don't know.

thanks for the insights.

what is TRIN? I hear this thrown aroung a bit?
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Ooops!!

sorry - seemed like a noobie q thats all.
 
Quote from jem:

Over the years a a lot of talk about one or two points a day have been made.

But the guys who really seem to trade systematically, Say that nobody makes one point a day (per contract) trading the es. I could see discretionary traders doing it.

I doubt anyone with real systems averages one point a contract per day.

That means your averaging a very very large percent of the atr and given that the bid ask spread is wide relative to the atr and the size is very thick, I would say if you really average one point a day with your systems. You had best find away to exploit that system fully right now because it will be very short lived.
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shucks.

reading this makes me realize what a crap market es has become.

glad i dont trade there.
 
Quote from Remiraz:

aug-sep 2004
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I'm sorry Remiraz but I can't say that I have the data to verify and then allow you to make your unqualified statement.

In August 2004, there were only 4 days with a range of 10 or less points:
08/03/04 - 10 points
08/09/04 - 6.25 points
08/26/04 - 4.75 points
08/27/04 - 6.5 points

In September 2004, there were 13 days with a range of 10 or less points:
09/03/04 - 9.5 points
09/06/04 - 3.75 points
09/08/04 - 7.25 points
09/09/04 - 8.5 points
09/13/04 - 7.5 points
09/14/04 - 5.5 points
09/16/04 - 6.25 points
09/17/04 - 8.75 points
09/20/04 - 8.5 points
09/23/04 - 7 points
09/24/04 - 6.5 points
09/29/04 - 8.5 points
09/30/04 - 6.5 points

Regardless, there were NO DAYS with 1 point. In fact, 3.75 points was the tightest range over that 2 month period 09/06/04. The largest range was 23.75 points on 08/06/04.
 
I have a lot of respect for anybody who can make one point consistently a day. Most systems are only geared for certain types of markets, either trendy or sideways. So to design a stystem that spills the same profit in any market is great. My systems tend to make a large profit once a month, then just sit there for the rest of the month

Quote from protrader-2K5:

Is it possible to make one point a day on one trade?

I think I may have been able to put something together... its far from done.

But the question is, am I wasting my time?

I am looking at a system that can make one ES point. One trade per day.

What kind of things should I be careful of?

Normally my longerterm stuff I don't worry about BID/Ask. Is this a major concern with the ES?

thanks
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Quote from jem:

Over the years a a lot of talk about one or two points a day have been made.

But the guys who really seem to trade systematically, Say that nobody makes one point a day (per contract) trading the es. I could see discretionary traders doing it.

I doubt anyone with real systems averages one point a contract per day.

That means your averaging a very very large percent of the atr and given that the bid ask spread is wide relative to the atr and the size is very thick, I would say if you really average one point a day with your systems. You had best find away to exploit that system fully right now because it will be very short lived.
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The guys you are talking to must be professional traders. To clarify, individuals that got all of there knowledge from books and then applied that information to the Markets, correct?
 
Quote from Charlie Dow:

I'm sorry Remiraz but I can't say that I have the data to verify and then allow you to make your unqualified statement.
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Charlie, don't work so hard. If you take on the task of correcting every nitwit on ET you'll never have time to trade, lol.
 
Quote from shortswing:

Charlie, don't work so hard. If you take on the task of correcting every nitwit on ET you'll never have time to trade, lol.
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:D I agree but it only took a few minutes and it staved off the boredom of sitting here watching my pre-market short keep running. It just brings out the OCD in me to see someone make an incorrect statement. :D
 
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