<i>"a cinch u say>? 80 - 120 ticks, you must of had a good day, I hope you got all those points ! the dome approach i have been playing with is oblivious to the big swings, just looking for small snippets of high probability here and there, sure it leaves a lot on the table and misses big moves, but catching big moves is not really the aim of the exercise. If everday was like yesterday then I'd be wasting my time for sure, but i think we know most days are just noisy. More of an experiment with whats happening in the book and an example of what I'd consider as high probaility gambling."</i> +8pts ER on four turns, yes Most days have portions of "noise" and directional swings. Almost every session with nil exceptions sees the ER make directional swings of 5pts ~ 10pts at least once, usually two or three, sometimes several of that magnitude. In between those ultra-dependable swing moves is the sideways congestion. Traders can opt to play inside the congested buzz and try to wrest chicken-pickings from it, or they can opt to work the directional swings for multi-handle trades. Some days are heavier on the buzz, some heavier on the directional push. Over any given period of time at length, targeting the +3 point(handle) to +5 point(handle) profit trades is much less work than +1/-1 point picking. Helluva lot easier on the long-term nerves, too. One thing ER traders can count on sure as sunrise: we will see ample +5pt swings from signal entry every day. Just a matter of trusting the sun will rise like it always does, and sitting on the entry until inevitable distance is covered. Best wishes for your varied arb and scalping experiments
ah, good work, this is a just a bit of fun for me, only a small account which could easily blow up ! - just trying to out perform a colleague who has all high tech the bells and whistles - where as I have the DOM only. Game on. HPT
<i>"this is a just a bit of fun for me, only a small account which could easily blow up!"</i> That is perfectly fine, you are getting from the market exactly what you seek. I never meant to be prickly about my posts here in your thread. Hopefully it hasn't / doesn't come across that way at all. I only ever responded for two reasons, maybe three, actually. #1: most of the threads in this site aren't worth mine or anyone's time to read or reply. #2: I'm an ER trader, and any threads on that topic catch my interest. #3: some people responded in here as if the answer to their prayers was about to be delivered. * Taken seriously, trading the ER can be very lucrative. You might not ever have a win/loss ratio better than 50%, but that is perfectly fine. Somewhat less will do nicely. The ER is dynamic enough to let us work with -$100 to -$150 initial stop losses while routinely hitting +$300 to +$1,000 per contract wins. Holding trades long enough to let the market do what it naturally does, time after time lets us build a risk / reward ratio of -1 to +3 or similar. Even being right two out of every five trades with that scale works well. There is no edge, zero, none playing the +$100 / -$100 per contract game. It is merely that, a game and nothing more. The inevitable end result will be ruin, regardless of starting capital. You can begin with $1,400 or $14,000 or $140,000 and still wind up at the same finish: broke. Size of account only means how long it will take to reach $0 in the end, every time. I personally doubt there is any edge at all to just trading price movement on the ladder. Again, coin toss strategy at best. Giving the assumption that there may be an inkling of edge to your approach, it is doomed with your lack of money management overall. Maybe using a -10 tick stop while holding for +30 tick profits will work in your case... but only if the entry method has a true edge. Otherwise, you merely had some short-lived fun in game fashion discovering = proving to yourself and your friend what others already know. In any case, best trading wishes
20 lots now, almost silly as i'm moving the bid /offer 2-3 ticks with market orders, no depth, but no clear price action in more liquid contracts. ICE ?