No Fantasy - ES Scalping Reality

Quote from stock777:

I didn't realize I was in the presence of a true giant. Pardon me.

So trading say a 10 lot 100 times is not high velocity.

How about a 100 lot 10,000 times, would that meet your very high standard?

horse_shit_cigarettes.jpg


lol
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You are seriously out of touch with the speed and frequency of modern trading. Professional trading firms colocate servers to reduce latencies by 10 or 20 milliseconds and are able to make multiple trades every 100 milliseconds. The Globex price matching engine is capable of matching a trade every 5 milliseconds per futures symbol traded. Anyone familiar with ES time and sales knows that busy periods have 100 to 200 trades per second.

High frequency trading is thousands of trades per hour. A trader doing 110 trades a day is merely considered to be engaged in active trading.
 
Quote from jeb9999:

You didn't even bother to read the detailed commission and expense information Don Miller provides at the link I posted. He would have made good money even as a retail trader.
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Your right, I didn't bother to read the link. But I have read his blog. If he had to pay retail commissions, he would probably trade differently like he used to before he became a IOM member. He did not make big money back then. Well, maybe he made some from his Inner Circle course, ect. :D
 
Quote from jones247:

ABSOLUTELY INCREDIBLE!!! In his video he's absolutely dissapointed with his results from May... only $30K net profit!!! He mentioned that he's going to have to change some aspects of his trading, although he's still on pace to make more than $1M this year!!!

I appreciate that kind of tenacity... he's completely driven to succeeed...
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Don is not tenacious, he is completely obsessed with himself and his trading, therefore his blog. If he "only" made 30k during May he must be pissed as hell as he needs to average about 100k a month to make his 1 million goal for the year. Since he made over a million last year, he is completely obsessed with doing it again even though he knows he made a large amount of his million last fall when the markets were going wild.

Now if he can just get his pinched nerve to heal up. I quit reading his blog because he bitches and whines too much about his trading, ect. He must suffer a lot trying to pretend he is always having a drawdown and trying to come back. Weird psychology. But whatever works for him I guess. I wouldn't want to trade constantly with that mental state. It's bad enough having a drawdown without thinking it's happening every day you trade. I wonder sometimes if he has some kind of masochistic problem. :p
 
Quote from jeb9999:


High frequency trading is thousands of trades per hour. A trader doing 110 trades a day is merely considered to be engaged in active trading.
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We're talking about ES not a basket of 500 stocks. You are an idiot.
 
Quote from FortuneTeller:

Don is not tenacious, he is completely obsessed with himself and his trading, therefore his blog. If he "only" made 30k during May he must be pissed as hell as he needs to average about 100k a month to make his 1 million goal for the year. Since he made over a million last year, he is completely obsessed with doing it again even though he knows he made a large amount of his million last fall when the markets were going wild.

Now if he can just get his pinched nerve to heal up. I quit reading his blog because he bitches and whines too much about his trading, ect. He must suffer a lot trying to pretend he is always having a drawdown and trying to come back. Weird psychology. But whatever works for him I guess. I wouldn't want to trade constantly with that mental state. It's bad enough having a drawdown without thinking it's happening every day you trade. I wonder sometimes if he has some kind of masochistic problem. :p
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Yes, he pales in your shadow. Umm by the way, who are you again???
 
Quote from stock777:

We're talking about ES not a basket of 500 stocks. You are an idiot.
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Sorry, but I am not the idiot here. You quite obviously have no clue what automated traders are currently doing with high frequency trading of the ES, ZN and other futures contracts.
 
2 million Es a day

lets say 5000 contracts


Thats only 400 traders. Worldwide. and it leaves nothing for you pikers, who do at least 4999 a day.

According to you there are hundreds doing 10,000 a day in ES like it was nothing


lol, math impaired.

show proof of your fantasy or stfu
 
Quote from jeb9999:

You are seriously out of touch with the speed and frequency of modern trading. Professional trading firms colocate servers to reduce latencies by 10 or 20 milliseconds and are able to make multiple trades every 100 milliseconds. The Globex price matching engine is capable of matching a trade every 5 milliseconds per futures symbol traded. Anyone familiar with ES time and sales knows that busy periods have 100 to 200 trades per second.

High frequency trading is thousands of trades per hour...
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Really? Since you say "thousands of trades per hour," let us be conservative and jusr say it's 2,000 trades per hour (the minumum plural for "thousands"). And although RTH alone lasts longer, let's just say 6 hours per day. That means at the very least 12,000 trades per day for a single entity. Presumably, such a player is going to be trading well more than a mere, say, 10 mini contracts at a clip. That means that such a player will be trading a sizeable multiple of 120,000 contracts per day. How many such traders do you reckon trade the ES?
 
Quote from jeb9999:

Nice trading for today. Better than I did.

Can you sustain that performance day after day for a year?
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Would hope I would.. Another 2 trades today for $350 total.
I do have my own simple rules on when to trade and when to NOT trade. (yes. There may not be a trade on some days).
I have to be comfortable with the trade entry and where I am going to exit, BEFORE I execute it.
 
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