No day trader on this planet can make yearly profits

[nooby_mcnoob]

Yes, there will come a point when slippage becomes an issue but there are worse problems

My plan is to keep hitting singles consistently and then just keep increasing the size until I'm happy with the numbers that come out. Does this seem reasonable?

 

[speedo]

My plan is to keep hitting singles consistently and then just keep increasing the size until I'm happy with the numbers that come out. Does this seem reasonable?

Yep, when I say "singles" I am not referring to one contract but to modest gainers.

 

[nooby_mcnoob]

Yep, when I say "singles" I am not referring to one contract but to modest gainers.

Yes, understood. Say you have an average pnl of $500/trade. Would you (for example) double size so that average becomes $1000/trade?

 

[speedo]

Yes, understood. Say you have an average pnl of $500/trade. Would you (for example) double size so that average becomes $1000/trade?

Yes until slippage becomes material but the ES is liquid enough to handle size.....to a point.

 

[nooby_mcnoob]

Yes until slippage becomes material but the ES is liquid enough to handle size.....to a point.

Cool. Good to know. I'm not there yet, but will start in January if things keep going well.

 

[speedo]

Cool. Good to know. I'm not there yet, but will start in January if things keep going well.

 

[speedo]

Entirely different league and game but 800 pound gorillas like Marty Schwartz and Lew Borsellino used to trade hundreds of the big contract in the S&P pit. Now THAT'S size.

 

[nooby_mcnoob]

Entirely different league and game but 800 pound gorillas like Marty Schwartz and Lew Borsellino used to trade hundreds of the big contract in the S&P pit. Now THAT'S size.

What was their edge?

 

[speedo]

What was their edge?

I would be lost in the Pit but you can get a good idea by reading Marty's book...Pit Bull, good stuff.

 

[speedo]

They had a way of reading momentum waves and would scalp in and out of large positions many times a day....not for the faint of heart, but they made millions.