Quote from gmst:
So, I am curious what is the best ES system that someone in the world trading at retail level has been able to devise????
Please post your BEST ES "system results"
This isn't serious. Nobody is going to post this. There are a few places in the market where it is good value to take a directional position of 3-4000 lots or more, as a day trade, for $500 or more profit per contract.
Any serious commentary would also get lost in the noise. What if I said there were a few very large directional traders who were buying the last hour of Thursday and the first 40 minutes of Friday in size, expecting the move we had? What if there was some way I knew this for a fact. What would it add to your trading?
A 30 year veteran who sometimes posts here, who has been an exchange member for decades, assures me that if one has such a system, and scales up to a decent size, "the players will find you and shove money down your throat". About the time anyone is at that level, they would likely not want/need the extra money, as compounding to limits of available liquidity is not a slow process for this class of trader. Market liquidity will eventually restrict the position size which can be used, so the rare conditions when larger size can be traded become more important to exploit.
I doubt there are more than a few dozen people worldwide who know where and why and how to do this. Maybe fewer. There is zero chance of any of them posting details on ET.
There are plenty of strategies which can be used on ES in sizes of a few hundred to a thousand for a few ticks, but I interpret the question of "best" as meaning the opportunities to commit substantial capital for a good short term return, as opposed to making smaller (albeit very consistent) profits trading for ticks. But I wouldn't argue semantics...a fully automated system which can consistently earn the spread in small size is a "best" system also.
"Trading at retail level" is misleading. Among the top players in this business will be self made independent traders. When you consider what is possible for those with understanding and capital but with few restrictions / handcuffs that come with working for an institution or managing OPM, it is logical that it will be this way. Think Paul Rotter and those at similar levels. There will be a few dozen world class individuals who will try to remain as anonymous as possible at that level.
Better question is what is the "best" system which you are capable of devising / implementing. Perhaps surprisingly there are some top level folks in this business who read ET but seldom if ever post...so there is a chance that the holders of some of the best edges in the ES see this thread!
Bottom line - do the best you can for yourself, don't trouble too much about what others are doing. They aren't going to tell you anyways
