Discussion in 'Index Futures' started by EurostoxxSux, Jul 8, 2010.
anyone else out there who trades ES actively? like 4k+ round trips per day?
Is this a joke? 4K round trips/day???? That a round trip every 500 milliseconds assuming you trade around the clock!
I think a lot of 1000 contracts in and out counts as 1000 rt's ...There is this guy in his early thirties that does over 100k rt a day and he made 50 million in ten years scalping. From germany , I forgot his name
Blox is right... 1K in and out is 1K rt's
You guys are right of course. That's clearly what was meant. I think of that as trading in size. I guess the word "active" threw me off.
The thing that was off was your math. 4000 rt a day would be 1 r/t more in the range of a trade every 20 something seconds. There's a bid difference between 500 miliseconds and over 20 seconds.
Search Steenbarger who tells stories about his clients. One in particular is named Greenspoon.
greenspoon accordingto Steenbarger does 400 contracts and turns them 60 times a day. this is 24,000 contract turns per day.
The net per turn fo this person is less than a tick on average. He makes about 10K a day, Steenbarger averes.
In general, doing 4,000 contract turns a day is better done by keeping the hold period longer to take the intraday trend segments fully rather than doing hugh numbers of contracts and making little per contract.
The sweetspot, in my opinion is about 20 to 40 turns per day and doing partial fills at about 5 times the market capacity (market capacity varies during the day).
Predicting is not a TA function but it is possible to anticipate. What this means, intellectually, is that a person does not use edges nor an entry/exit strategy.
A way to maintain coherence (mentally) is to monitor your position in the market continually. This leads to a compression of the hours needed to go through the four srages of knowledge and skill development.
Excellence in trading is the fouth stage. It precipitates as a consequence of a differentiated mind. The mind grows only under conditions of coherence which is the absense of fear, anxiety and anger. The get to a state of coherence, probably the best set of training wheels comes down to practicing a rational thinking routine and logging the market's order of events (which is a singular pattern).
Anyone can read this and determine where they are in the four stages of getting to excellence. Use a parallel path whereby you have achieved excellence in something (Use driving a car, for example) to be able to fairly judge yourself according to the content of this post.
Bottom line. The regulatory agencies blew it when they set limitations for expert traders of ES. You have to run at least five accounts to handle this contemporary failure of government.
Another nominal method of getting a personal picture of what you are capable of, in trms of market participation, is a thorough self assessment of the 18 common mistakes mentioned in O'Neill's classic "How to Make Money in Markets". WJO'N is a very competent person who is able to articulate telling you just where you aren't in terms of trading.
Certainly, anyone can ask questions, and it is also possible that one can learn to ask better questions to begin one's path towards growing a mind to go through the four stages of competence.
the failure rate of potential traders ampily demonstates that most traders do not even get to coherence and thus begin to build their minds. Don't make that mistake any longer and don't potpone beginning to get to the beginning point of learning. Ground zero is a very wide flat place in which to reside.
wow yall are just really getting it all wrong. just wanted to see if anyone is out there similar to me to talk about shit.
Paul Rotter aka The Flipper
my impression is that people here just kinda trade off of their charts and sit positions...
is anyone highly active and trades a lot all day?
Separate names with a comma.