syrre You have a smiley face here. Is this a serious comment? (I really don't understand the above.) Anyway, you have 50 to 100 trades a day I assume. Can you comment on or off-line what your winning percentage is? I won't ask how much you make a day of course. I will keep it confidential if you say to. Stephen Szpak
The smiley is because of the oversimplification in the explaination. Yes I do make 50-100 trades in a normal day. I do not measure the winning percentage, but it is indeed very high (it must be the way I trade). I have mostly 4-digit days, and some few 5-digit days too.
ElectricSavant wrote: If I want to take on a position, I scale in attempting to improve on my average trade price. When exiting I generally get "all" out. But... there is a very valuable technique in scaling (both in and out) and using an "always in" approach. trading "off" your average trade price that is very good, but you need a lot of capital. The link thing, was that there are a lot of tools, but I seem to be held at a higher standard at ET lately, and every link I post that is not a sponsor gets deleted. I had to be ever-so-careful, how I told you about Market Delta...And of course, I know Velocity is a long term sponsor here. Just trying to help, and I am not the ET policeman, I am just trying to survive and do the right thing. Michael B. Thanks Michael. I think the scaling stuff should be for another time. Still thinking about small moves, since this is the original idea of the thread. Haven't checked out velocityfutures yet. I have tommorrow off. I don't think scalping will work for me. Look at todays (July29) move downward. Writing this about 1:30 PM Eastern. It would be easier to have just have gone short and stayed with it instead of trying to catch the little downs within the big down. Of course if there is a HIGH probability way to scalp, that would be something I would indeed be interested in. But, being a amateur muscian, I realize that every muscian has his/her limitations. The same is true for traders. omniscient commented about having a position for the day and also scalping too. But if one way is more profitable than the other.... On top of this, my technical analysis skills are rather poor, even though I have spent a lot of time in the past on them. The more trades the greater the likelyhood of giving the morning's profits back in the afternoon. Anyway, got to go for today. Stephen Szpak
I guess we're looking at: 50 trades times 10 contracts times $12.50 profit per trade equaling $6250, give or take depending on the day. Interesting. Stephen Szpak
I'm looking for a FREE Depth of Market simulator today. By the time this is read I might have found one already, but feel free to post anything that might be helpful here. Just trying to understand if I can understand and trade with such a setup at this point. Velocity has something for $50 which seems great, but I don't have Windows XP Pro, which is required. I have contacted Dell to see what a upgrade would cost. (Just bought this thing!!!) Thanks guys, Stephen Szpak