Invoking partial fills does not save you, Jack. With market orders the market is moving away from you so fast near extremes that you can't possibly use as many contracts as you assert. Also, I note that I struck a nerve with respect to ATS. You don't got one do you? It's really not so hard. Forty SLOCs suffices. Sorry for the blurring, but I am a greedy grasping non-helping low-life.
Jack, I notice that you did not address my assertion that if you skew the distribution of market order winners so badly that limit order traders lose, they'll change the game. Like they have with every other popular system the last 40 years.
I think most of you are missing the point. I have gone over to the Dark Side. Attached are today's results for my SCT-Lite system: 20 round trips, 4.85X the daily range, 13.85 ES points after commish and random sloppage. I only started this thread to clarify the limitations of the method. BTW, Jack: NFW there are 40 roundtrips available a day.
He's entertainment, nothing more. I don't normally care much about spelling & grammar on a person's posts, but when it comes to Jack, I care. Why? Think about how carefully you have to study the market to be able to devise a system that can, operating as designed, extract 3X ATR from a trading instrument. The person doing this would have to be either 1 - so totally obsessed that he would never have learned to write as jack writes in his posts, or 2 - so super-intelligent that writing perfect posts while trading would be child's play. Jack falls into neither camp. His long posts, peppered with words with a Latin rather than Anglo-Saxon etymology, are typical of a wannabe intellectual with a limited formal education and an equally limited intelligence, too limited to understand that when someone who's read and experienced a lot sees that kind of language, he knows he's in the presence of outstanding mediocrity. And, as pointed out, if he were really that good, we'd hear of him in the same company as Soros, Rogers, Buffett, Pickens, Zell, etc. All of these people have now or has in the past created large enterprises with very perceptible economic effects, and in some cases political effects as well. Outside of ET, I've never heard of Hershey. Selah.
Nice trading Socrates, Just to clarify, the ATR on the day was 20.25 points. Therefore 1X the range would be 20.25 points/contract and 4.85X would equate to 98.2125 points/contract (roughly) Now if the daily range were 2.86 points you would then have the multiple you mentioned. But I believe 13.85 points/contract would equate to .68X range. Although math was never my strongest suit.
Well, shit, Ehorn. Watch me dance out of this. I calculate the high of the day on the 3:55 bar, which I make as 888.25. With a low of 868.75 on the 10:00 bar, the range is 19.50. So I think you are wrong, but I had a code error too, thank you very much, I owe you one, just ask. But don't make it TOO big a favor. If you read every word I ever posted over the last ten years (like Jack wants you to) you will find that I explained that I calculate the profit multiple from the highs and lows, so that number does not include commission and a random slippage allocation. That raw profit my code says is 97.0, for a multiple of 97/19.5=4.97. Do you agree with 20 round trips? You must understand that my posts bear on reality as humor bears on life. I don't even TRADE ES, just NQ. But I am running the same codes on NQ, so I thank you for helping me find the error. The humor part is that the last two days the thresholds I picked way back just happened to work, which is unusual. Also, these were relatively wide range days. The code doesn't work for shit on a narrow range day. For the record, I only trade long on pullbacks to precalculated support, and short on pullbacks to resistance. Never momo, nono. My conceit, if you haven't gathered, is that generally I know where you are going to draw your lines well before the events. Much of that is what another thread called "invisible S/R". Heavy shit, man.
Well said, Trefoil, by a fellow lover of pleasing writing style in our native language. But in Jack's defense, never hearing of him outside of ET is no proof that he is a fraud. I mean, you haven't heard of ME either, and I am also a trading genius.