Hi,
Are you guys doing program trading or manual? I'm curious.
Thanks.
Are you guys doing program trading or manual? I'm curious.
Thanks.
scalping the ES
- Thread starter JimmyChew
- Start date
Seriously? A newly registered poster starts a thread in the index futures forum and is looking for a market where he can trade size (100 cars at a clip)!
Let's see, you should ask saxon22, his last thread in the index futures forum just fell off a cliff. Oh wait, he already asked that question years ago as well!
http://www.elitetrader.com/vb/showthread.php?s=&postid=1221965#post1221965
His third post in the thread states this from four years ago.
saxon22
Registered: Sep 2006
Posts: 2241
10-04-06 07:48 PM
I was thinking that eventually going for 100 to 200 contracts per trade I could wrestle a nice amount from the market at the end of the day. Correct my math, but according to my calculations 1/4 = $12, less $5 fees = $7 multiplied by 100 contracts would produce $700 a fill. If I coulf do it 10 times a day the end result would be a tidy sum.
While I would love to get 2 o 3 point fills, I would rather pick the market "my way", that is in little bites but frequently. Call me greedy ...less . Please fell free to comment on my approach.
Is the average reader of et really this stupid not to see the trolling or the formulaic threads designed to generate page views and replies that have been given 1,000 times before?
Let's see, you should ask saxon22, his last thread in the index futures forum just fell off a cliff. Oh wait, he already asked that question years ago as well!
http://www.elitetrader.com/vb/showthread.php?s=&postid=1221965#post1221965
His third post in the thread states this from four years ago.
saxon22
Registered: Sep 2006
Posts: 2241
10-04-06 07:48 PM
I was thinking that eventually going for 100 to 200 contracts per trade I could wrestle a nice amount from the market at the end of the day. Correct my math, but according to my calculations 1/4 = $12, less $5 fees = $7 multiplied by 100 contracts would produce $700 a fill. If I coulf do it 10 times a day the end result would be a tidy sum.
While I would love to get 2 o 3 point fills, I would rather pick the market "my way", that is in little bites but frequently. Call me greedy ...less . Please fell free to comment on my approach.
Is the average reader of et really this stupid not to see the trolling or the formulaic threads designed to generate page views and replies that have been given 1,000 times before?
30 yr Bond specs for you........... http://www.cmegroup.com/trading/int...us-treasury-bond_contract_specifications.html
Just because it's my first post doesn't mean I've just started trading.
For the record, I have been trading the mini's for several years now at a prop shop, doing very reasonable volume, and 100+ at a clip doesn't make my heart skip a beat, I still do that all day long.
I just feel this market is starting to make me work a little more than I'm used to, and was wondering if there were other markets with similar characteristics to the ES of 2005-2009, where one can reasonably hope to scalp 20-30 ticks a day on 100+ without much difficulty. (with member rates, of course).
Those that know what style of trading i'm referring to, please post.
The rest who will most definitely come up claiming I don't exist, or that this style of trading has been finished for years, blah blah, they just refuse to accept the truth that given member rates, this is still doable.
Just seeing if others who have traded in the past like I trade have suggestions for other markets worth exploring, with, like I said, characteristics of ES of 2005-2009. (and No, those years aren't before HFT. That's not the issue here. In fact, it's the drying up of volume that I am referring to.)
thanks
For the record, I have been trading the mini's for several years now at a prop shop, doing very reasonable volume, and 100+ at a clip doesn't make my heart skip a beat, I still do that all day long.
I just feel this market is starting to make me work a little more than I'm used to, and was wondering if there were other markets with similar characteristics to the ES of 2005-2009, where one can reasonably hope to scalp 20-30 ticks a day on 100+ without much difficulty. (with member rates, of course).
Those that know what style of trading i'm referring to, please post.
The rest who will most definitely come up claiming I don't exist, or that this style of trading has been finished for years, blah blah, they just refuse to accept the truth that given member rates, this is still doable.
Just seeing if others who have traded in the past like I trade have suggestions for other markets worth exploring, with, like I said, characteristics of ES of 2005-2009. (and No, those years aren't before HFT. That's not the issue here. In fact, it's the drying up of volume that I am referring to.)
thanks
I scalp ES doing approx 20-40 trades a day, I rent a seat, cause if you pay retail, just throwing away money-just too tight to scalp and pay 4 bucks. It is funny 15 years ago, making a dollar on S&P was huge money, now it considered scalping. My targets are different depending on time of day, but regardless, if price stalls, got to get at least one tic. I ave $32-37 per trade. Fifiteen years ago I'd do a 10 lot of S&P, now to have equals is 100 lot, back then it be $150 in commisions and now it be about $400 retail, so for the many who think this has gotten cheaper, not so for these Index markets.
It just came down to I am a lousy trend trader trading commodities, I can trend trade stocks fine but not long term commodities or scalping the ES. I can trend trade CL, Notes and currencies cause lack of volume. I do have good discipline, I use to think I was smart but the markets have taken that away from me, the dumber the better, easier to follow rules. And 30 years of price action doesn't hurt either and I am still learning each week. I could never backtest any trend method up until a year ago, that did max. 15% losing trades. I detest losing and all my backtesting is centered around money management.
It is not that I am a scalper in my mind, it is just the CME changed the tic size from nickels to quarters, and to a degree, it has gotten easier because of all the new traders cause of extremely low margins. Shooting fish in a barrel. But I am buying as the market is dropping and selling as market is screaming up.
My style is certainly not for the faint at heart, but it works for me.
Scalping and market order, isn't that like, antonyms? So why don't you buy bid and sell ask? There's plenty of opportunity to do that in ES, even in the morning.
op, there's more money and less stress in trends than in spreads. get on ticks and start being a trend trader. cl and tf are a work of art.
I don't understand why people are always complaining about the spread either. I always let the market come to me and get filled with zero spread. Once I get filled I could close the position out at the exact same price if I wanted to. If I do take the market price, then I take it just as it's about to tick up, so again, there's virtually no spread.
Quote from Gubinec:
Scalping and market order, isn't that like, antonyms? So why don't you buy bid and sell ask? There's plenty of opportunity to do that in ES, even in the morning.
op, there's more money and less stress in trends than in spreads. get on ticks and start being a trend trader. cl and tf are a work of art.
Just to demonstrate...here's Thursday of CL...easy 2k on a single contract, easier said than done, but if every day was like this we'd all sooner or later be rich.
