What do most independent traders use to make money daytrading the SP emini? I read the thread of scalping the emini and the consensus was that it was extremely hard to do. I've considered daytrading the emini or OEX options. Anyone have any opinions on which is easier to daytrade?
Because of the spread between the bid/offer in OEX and the fact that index options licensed by Standard and Poors are primarily pit traded (note not ES as those are technically opts on futs not opts on the index) it's impossible for one to be consistently profitable trading OEX in as short a time frame as day trading.
Good post. It's time to start thinking of the markets like walking into a Las Vegas casino and expecting to get rich. The house edge is designed into the game such that it is Impossible to win over the long run. The OEX and SPX are example number one. With no competition for listing these options (QQQQ is listed on 6 exchanges) the bid-ask spread, or house edge, is insurmountable. If you trade the OEX daily for 5 years, off-floor, and make money, apply for your Nobel Prize. You will surely win it. You've discovered new math.
???...........making money trading the E-Mini S&P's??................let's see..............consider fading the Noon Balloon. You should be able to make money with "it" atleast 3 days out of the week. Be careful the other day(s) of the week when "it" doesn't work.