It has nothing to do with the ease or difficulty of making the "1" point per day. If you have to ask . . . you absolutely don't understand. If you are older than 40 you never will. I will say that your statement is validation of the underlying problem of why most traders fail.
true --- you must first BELIEVE! Quah --- yes it is a combination of many two tick, three tick, and four tick hits accumulated throughout the day from the various trade entries {and on a few occasions a 2 point hit}.
Well, that answers a lot of questions then. I made the erroneous assumption that we were talking about net, not gross points. This changes everything, and I'll have to agree that gross 1 point a day or even gross 10 points a day by themselves are no big deal - without the corresponding costs information those numbers are meaningless.
but i will say that at the end of each trade day if you calculate the average position size per trade completed for Billy you will see that he was over the 1 point a day level you talk of {1 point a day or more for the avg position size he traded --- he does very well with the method}. remember 90% of learning something new in life is just being there.
your post is one of the aspects of trading that has always interested me the most -- what is it in our psychology that "limits" our willingness to maintain profitability curves. i have seen situations where once a person reaches a certain income/profit level they change almost everything that delivered them to that point -- just like an embedded psychological switch went off. is it the "bird in the hand is better then two in the bush" brainwashing that has been ingrained into our psyche -- i do not know??? for some the continual daily routine of maintaining the equity curve may feel psychologically like lance armstrong pedaling up hill for hours -- a person may be very willing psychologically to look forward to the downhill coasting that lie ahead as compared to the thought of the continual climb. the other option is that of the originators of the Federal Reserve have put something in the water all these years to keep us masses in a "psychological leash" --- this way we will never pose a threat to their wealth structures.
AC, I don't think I've dodged anything. The OP was "can you make a point a day trading 100 shares?". My answer: Yes. Watch the orderflow and there are numerous people trading 100 lots during the day. Your question goes to those trading way more than 100 shares if I understand you correctly (Super Hedgefunds?). I have no idea about that. Has nothing to do with the question asked. I listened to Jim Harrison (eminimaster) speak in the room of trading OPM and buying eminis in "large size" but he never gave specifics except that he looked for 2-3 day swings. Even those trading 100 shares would incur increased risk trading at illiquid times of day in the eminis. What I KNOW is that I've watched Bill Duryea for OVER 1 YEAR trade ES and, if he traded an even size, (which he doesn't) there are precious few days where he would NET less than 5 points. If anyone want's to verify, watch him trade in the IOAMT room free for 14 days.
Sorry, not trying to be offensive or anything... but 50 contracts only need a margin of 25k, from discount brokers who only require $500 a contract for ES. Assuming that you trade your entire account for scalping, it took SEVERAL YEARS to make 25k ????!!!! A job flipping burgers pays more than that !! Quote from eagerbeaver: Well, actually, yes and no...funny I just met him, as he was former business partner of my Dad's. Anyway, the guy's mathematically inclined, etc., and had been taking an interest int he markets, reading books, and whatnot. Losing lots of money. Then, one day on vacation, walking a beach in Hawaii, starts thinking "What is price?" which then takes him down the rabbithole. Comes back, starts reading everything he can about price momentum, etc., to inform his own oddball insights into market action. Starts paper-trading es -- months of this -- than starts with one contract and then...well, he just keeps going. Now he's trading 500 contracts. Aims for 10 points a day. Will settle for five. Today he got eight. Yesterday, 20. Yes, he's a genius. Very quiet. Keeps his head down. He didn't say how much he made, but I saw him place a 500 contract trade, and he says that's his standard size, and I have no reason to think he's lying. And with numbers like that, well... Anyway, one contract to 500 took him a couple of years. Obviously the exception to the rule. But, interestingly, he does answer the question I poised at the beginning of this thread. Then, again, I guess this isn't, technically, scalping is it, as he looks for four-point-and-higher swings, looking to stay with an intrad-day trend as long as he can. -------------------------------------------------------------------------------- Just for the record, it's 50 contracts. NOT 500. My typo.
No offense taken but, sheesh, does anyone on earth scalp with those kinds of margins? If they do, could they possibly be doing so for very long? Good sir, a $500 margin means that a ten point adverse move on the ES would OBLITERATE YOUR ACCOUNT. I assume such advertised margins are only "for show" and that no serious trader would dream of making them the centerpiece of his/her risk management strategy. But, please, someone, enlighten me if I'm off track here...