Depends on the stock, and it depends on what you call a "living." Lescor (I think going from memory here) made a killing on this strategy. But everyone does it differently.. People have different levels of stops, and envelopes, and play different stocks. When I tried it, I found you would have a few good weeks , but have one bad day or 2 and give nearly all of it all back.... On the days where it backfired, it hurt.....
For me, my best days were when I got a few fills.. Anytime you get filled on alot of orders, I basically found out, odds are you were going to get screwed....
If you take an average of 5 cents per share, 5 fills per day it makes 25 cents. 25 cents on 100 shares each = 25$, 250$ on 1000 shares. 0.05 average per share is a good number so you may do the numbers with 0.02 as pessimistic. To make yourself a realistic average you can scan through the previous posts. I made that when I started. My numbers from the past month are not average, they are above average I think. Lescor has a post where he has his numbers from past years; http://www.elitetrader.com/vb/showthread.php?s=&postid=938946&highlight=annual#post938946 "Commission paid $60,435" lol You can also try to get more fills on less shares/trade.
Not so for me. Maybe I trade differently when I have 3-4 closed trades and am green on the P/L. A sucker is a sucker for me, it just gets averaged down when I have many fills.
Going in small. The sell imbals are not that big (yet) and T was actually a buy imbal up till a couple minutes ago. WMT and LOW now a buy imbal. Good luck to all.