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Well, I took tosk to task.
I used my favorite low-margin market, the EMini for this analysis. I
assume an average daily 16 pt range (which is probably on the low
side). I didn't care to guess how many daily trades it would take to
get to this type of number, so I haven't subtracted ANY commission or
slippage from the totals. If you would like to see what catching a
fraction of the day's range could do for your account on a market with
a low (relative to the big S&P) multiplier, then point your browsers
to the following site:
http://www.black-hole.com/users/spy/projected_profits.htm
While tosk's exaggerated statement of "billionaire" may be a bit
premature, and I'm not sure how these types of profits would add up to
10 - 15% profit per day, capturing a portion of the day's range on a
consistent basis can lead to some pretty remarkable overall profits.
Note: this assumes you have a method / system that actually can
capture the given % of daily moves.
Patrick White
-----Original Message-----
From: tosk <tosk@xxxxxxx>
To: Omega List <omega-list@xxxxxxxxxx>; Jim Johnson <jejohn@xxxxxxxxx>
Date: Friday, July 30, 1999 4:07 PM
Subject: Re: choosing markets to trade
<<Metals and currencies yielded the least--in
the vicinity of 20-30 cents per day for each dollar of margin.
If you could develop a system that could take out half of that range
on a
daily basis you would be making 10% to 15% PER DAY on your capital -
you
could be a billionaire in very short order on the least "margin
efficient"
market.
Tom Lisk
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