making one point a day?

Discussion in 'Strategy Development' started by protrader-2K5, Aug 4, 2005.

  1. Is it possible to make one point a day on one trade?

    I think I may have been able to put something together... its far from done.

    But the question is, am I wasting my time?

    I am looking at a system that can make one ES point. One trade per day.

    What kind of things should I be careful of?

    Normally my longerterm stuff I don't worry about BID/Ask. Is this a major concern with the ES?

    thanks
     
  2. bid/ask on ES or any of these liquid futures markets is a MAJOR deal. Especially if its even moderately high frequency. It will turn that beautiful hypothetical equity curve into a death spiral.
     
  3. Your system should make at least 2 points a day; than you might be able to make 1 a day in realtime.
     
  4. Prevail

    Prevail Guest

    Agreed, I'm assuming you are talking with 1 contract. This is extremely difficult to do, even making 1 a day on paper. Your expectations should probably be tempered to 1/20 of a daily atr per day at most.

    What is your initial system idea?
     
  5. thanks!

    just what I needed to read!
     
  6. TGregg

    TGregg

    And especially on these low volume days we've been having. Seems like one never gets a fill unless it trades through when there's not a lot of action.
     
  7. Well said Spike.
    If you put together a consistent system and it produces 2+ points a day, especially during the Summer when volatility is always low, then extracting 1 point of of the Market, especially the E-Mini S&P anytime, especially the rest of the year will be a breeze. The key is to build your confidence through consistency. With trading consistency comes consistent profits.
     
  8. i think you'd have a lot easier time trying to scalp 5 ticks/day on the ER. It's liquid enough to trade but not so deep that you never get filled.

    Anyway, if you can do that consistently w/o risking huge--if infrequent--losses, then you don't need my advice.
     
  9. THANKS GUYS!!!

    I apprecieate this.

    Now for a follow up...

    I'm sure the topic has been beaten to death but here goes.

    Is there any price leader to the ES?
    Meaning is there are certain piece of data that you follow that tends to lead the ES movements?

    If you feel that you would be giving away too much, a pm would do (maybe? :) )

    I am trying to add a method to get through the summer months (thanks Charlie)
     
  10. FredBloggs

    FredBloggs Guest

    look at er.

    it often leads es. 1 point in er is also easier and worth more than es


    why a noobie is bothering with es is beyond me.

    if you like it cos there is no volatility then look at ged which is more reliable.

    or look at bp or ym because it is still fairly liquid, and has a low tick value, if you must do the volatility thing.

    you should only trade es if liquidity is a problem - which as a noob - it wont be.

    i think youre going about it the right way though - looking for small consistent wins rather than get rich quick
     
    #10     Aug 4, 2005