OK, I read the rest of the posts. What surprises me is the lack of understanding of the process. There are a lot of smart folks who have put in time understanding the technical issues surrounding order placement, cost of commissions, etc. but no one seems to understand how important it is to understand (read "characterize") the target market. I spent a long time learning this particular game and I really don't feel like giving it away. I will however point in a direction just to see if anyone out there is thinking. First, you can predict a specific market or a least you can project what a market is likely to do on a specific day based on prior market action. If you get good at this, you can find specific (read stable) "landmarks" during the day. These landmarks can serve to confirm your entry AND they can keep you out on bad days. Second, If you pay attention to how volume trends during the day (especially on the ES) you will find (eventually) that you HAVE TO do most of your scalping at specific times. Finally, As I stated before, I don't believe anyone (retail) can make a profit scalping small. I trade size and scale out. Depending on the time of year and market conditions, I am always looking for the longer term trade to develop from a scalp trade. I hope someone out there puts two and two together. Regards, Steve46
Great to know! Just so that we are on the same wavelength, a retail trader: 1) Does not own any kind of seat at the MERC 2) Does not lease any kind of seat at the MERC 3) Does not trade with a proprietary firm 4) Has normal DSL or Cable connection to broker So basically, s/he trades their own account from home and pays like $1.75 per side or more to trade ES/NQ and is going thru the Internet to connect to their broker. nitro
No you misunderstand me. Nothing would give me greater pleasure to know that every single retail trader were making money trading the ES/NQ. If that is so, then that just means I can too!! I have made money trading it before, but almost gave it all back when things started going bad. I have never "cracked the code" for more than a couple of months at a time. nitro
There is a wide range of possibilities between "no retail trader can consistently make money on ES/NQ" and "every retail trader can make money on ES/NQ". Why so black and white? Is it that hard to imagine that 10% made money over a 2 year period and 90% did not? (just to throw out some make up some numbers)
It is hard for me to believe that people like you, that cannot parse simple sentences and understand what is being said, make money trading anything. Look, it is not hard for me to believe anything. I have no emotional attachement to either proposition. If _retail_ traders (as defined above) can make money trading ES from home, I would be eggggggstatic. If not, that would be ok too - there are plenty of markets where one can make money, I do it every day. I am not attached to either proposition. I just have never seen a single retail trader make money trading ES/NQ _consistently_ and I am pretty well connected. Doesn't mean they don't exist though. nitro
LoosenUp, I trade NYSE/NASDAQ equities, and options on both. Doing extensive research on e-futures. nitro
Interesting. This is a field where its participants are ideally independent and largely find their own way. Yet, there is no lack of people in this forum advising (even insisting) how and what someone "should" and "shouldn't" do. I refer not to those who offer gentle guidance or thoughts and ideas to ponder. Rather, I refer to those people who speak exclusively in absolutes, and pass final judgments at the drop of a hat. What lofty heights they must have reached, and how small the rest of us must seem.