That is not true. Depends what time frame, and what MA you use. I did fine today taking that kind of entry. We sell the tapes because they are expensive. You have to be aware of where ALL your money goes if you want to be a millionaire kiddo. And recoup anywhere you can.
Are you counting making 10 points a day per contract or say if you trade 2 contracts at once you really made 5 points per contract but 10 points total?
You are probably smart to not trade until more favorable conditions come around, however I am tired of waiting around and don't really know how much longer things will be like this or if this is the new market conditions and market volume. Also I don't have that kind of money to sit around and wait for things to get better. I think how we have been reacting after the war was somewhat decided has kind of got to me. I have waited 4 months to get to this point just treading water and this was my payoff. So I am coming from a biased few point right now. Both FX and futures tend trade more technical then a lot of stocks now do. Also like I keep saying liquidity is way better. It also seems that the futures will still have decent range days and movement relative to the stocks. Like the example I gave earlier you get a 15 point move in futures and a 40 cent move in a stock today but by the time you factor in slippage you no longer have a 40 cent move because liquidity blows right now. I don't really know what kind of edge you are looking for in the futures and fx compared to stocks. So many of the statarb plays, opening orders, ect edges are crap. I don't call playing 2000 share position open orders and making $100 exactly a good edge.
futures have been the place to be all year. I made the switch myself 6 mos ago after a long, long time in equities. watch for daytraders to all but abandon equities in the coming years..... Just a thought, triple
Partly because you don't have to search for what's moving, you don't have to worry about floats, you don't have to be concerned with PDT or the uptick rule. You bring up the NQ or the ES or both, and you're ready for the day. --Db
I never asked what you made (or more likely lost) I asked how you were doing percentagewise? If you were making money it is unlikely you would be changing your strategy or method so frequently, therefore my question had to do with how you are doing over the last 4 months because if your not doing well you really shouldn't be offering up that their are "one's that work fine". Really? Like what? Your trading discretionary latley correct? Do you consider that a strategy? How do you backtest it?
Either your memory is short or you're just not being very honest with yourself. Even a brief review of your posts shows a lot of complaints about your poor results and the money you've lost and the mistakes you've made and your failures of discipline, etc. Plus, even though you claim that your system is simple, you have multiple systems and don't seem to enjoy consistent success with any of them. Which is not to say that the rest of us haven't also had problems adjusting to the markets, particularly the last couple of months. But please don't sit there and give the impression that you just sit on your boat, "popping off one or two point scalps all day". The journal you've provided via your posts suggests otherwise. You're doing as well or as badly as most of the rest of us. --Db