its hysterical. the people trashing my post should look in the mirror and ask why they lie to themselves. they know they cant make money trading futs and they dont know anyone that can, yet.. they act bizarre and have a visceral reaction to you pointing it out. strange stuff man... i suppose its a normal reaction to challenging someones dream. so that makes sense. if i told some guy his cherished girlfriend is a whore and i caught her sucking some guys dick in an alley and i had pictures, he would never believe me, nor would he want to see the pics. he would actually hate me for it and perhaps want to fight me. why? because im killing his dream of a pleasant future.
statements http://www.elitetrader.com/vb/showthread.php?s=&postid=2695588#post2695588 this guy seems legit, y? statements.
Multiple people from the office where I work. Multiple years of consistency each. All intra-day, flat by close. I'd love to say myself included, but if I dabble at all with the indexes it's with SPY or SSO intraday, not ES contracts. You've made some good conclusions with how hard it is to find an edge, so instead of thinking it's impossible to daytrade the indexes, why don't you ask "what strategies work in this environment?" -- If you're still trying to use bar patterns, lagging indicators, or pretty much any TA on this scale, of course you're going to get slaughtered easily. And no, I won't be holding your hand here, you've proven your ego wouldn't let you see the forest for the trees even if it was gifted to you. So that's all for now.
Just glanced at ET now that the opening hour is complete and waiting for targets, stops It is no wonder some people fail in this business. Need to spend more time researching and less time bitching during prime time.
If you read Lescor's other statements and commentaries...he also trades Index Futures...just not nearly as much as his stock trading in comparison. Yep, he's profitable too in Index Futures trading and he was not auto trading nor mechanical trading them.
you cant figure out what strategies work by deduction. you cant say, ok, i know ta, bar patterns, silly indicators dont work, so by process of elimination i should figure out what does work. when you're not an insider of some firm that does that and does it well, you'll never know. how can you know what you dont know. its a paradox.
Agreed. overnight is taking RTH 30% effect. when avrage time per trade is 5 min, and orders take 1 min, 20% of the time, you are in a bad position.
How in the heck can you post something like this, showing you at least understand the idea behind known-unknowns, but toss out a logic fallacy in your tread title reading "impossible to day trade ... manually"? Are you just trying to extract a response explaining how through your inference and someone correcting you? And there's nothing "insider" about the ones at my firm that trade ES. They do it manually and worked hard on their own, independently created, strategies.