[Predictor]

Its a good question! I was honestly hoping I'd be wrong and there were people doing these returns. It is also a good question why I would even try to go outside what is working for me since the primary reason I trade is to serve and to get better at what I do best. It is a good question. One thing, is this was one style of trading that I could never get to work for me.Even though I trade to serve, I am also realistic and if there are methods doing 120k on 5k margin then I mean I should try to learn those methods. Plus I know there are many successful ways to trade in the markets. If it *were* possible then I could at least do that until the 100k mark.

One other thing is this nagging feeling that maybe shortening my holding time would be a good thing. I don't know but I've shortened from 2-3 days to 1 day. Sometimes it helps me and sometimes it hurts. I'm always trying to think about what is advantage of the small trader. I came up with 2 scenarios: A. Getting limits filled at hard places. B. Running markets at opportune times.

Originally Posted by Tams »

With the power of compounding, anybody with your "skill" can make a comfortable living starting with ONE contract.
Why are you begging here?

[noego]

Originally Posted by Tams »

I think you are just another snake oil salesman using the questions as disguise to spam the forum.

If you are so successful, why don't you become a paid sponsor of this board?
Maybe you can't afford the fees?

Agreed....this is not a discussion topic. A slam and promote. Dead Thread.

[WorldTrader]

Yes, he is posting his links and promoting his software...beware.

[Predictor]

Lol.. I don't have any software even.

I haven't heard from 1 scalper yet...

Originally Posted by WorldTrader »

Yes, he is posting his links and promoting his software...beware.

[jdevron]

Originally Posted by light65536 »

Lol.. I don't have any software even.

I haven't heard from 1 scalper yet...

The purpose of C2 and TL is mostly geared towards automated trading, but also includes discretionary trading as well. Larry Levin's own instructors will tell you right up front that their rules are not suitable for automated trading and strictly rely on discretionary decision making. If "your friend" is doing well under Larry's course it is because "your friend" has some inate ability that will not easily translate into programmed trading. Larry offers several variations of essentially two set of rules, the "algo" and the "80% rule". The "algo" is essentially a 20 period donchian channel that is confirmed by a volume imbalance. The "80% rule" simply predicts that prices will revert to their mean. After much backtesting of many such rules my personal opinion is that the "algo" is without merit and the "80% rule" has some merit. Also, I believe Larry's instructors are correct when they say their rules are not suitable for automated trading. My personal feeling is that the rules Larry provides for a fee could possibly be used in conjunction with another set of rules which has yet to be developed by anyone on the planet. On the bright side I do find Larry's contrarian style newsletters refreshing and informative.

[bobcollett]

Dear light56646,
You have certainly started this thread on the wrong foot. Theres a guy on this forum called steve who shows the same humble approach.
Tam thinks you are a snake oil salesman and he's a gentleman compared to his friend mighty mouse who is still sleeping..
To add some value to this thread I think you can scalp the Es with a 5k account, trading 1 contract at $50 and a $200 stop. You can make 20 scalps.But you mention somewhere that that you hold the trade for 2- 3 days. Thats not scalping. Thats Goldman Sachs trading.And you will need about 200k to survive.(for about 2 months)
Regards
bobcollett

[Minetoo]

I asked for a free trial of Larry's room years ago and was allowed in for a mere hour. The mod took a couple of trades that made no sense to me and subsequently lost on both. I think Larry himself is a successful trader but what he does on the floor has never been fully explained and I doubt it could be replicated on screen.
I used to work in a Prop Shop and all we did was scalp. Temperamentally, it was a bad fit for me so I quit to go on my own. Therefore his room holds no appeal for me however, I really do enjoy reading Levin's daily rants about the markets and the economy - very incisive and truthful.

[Predictor]

@bobcollett Avg hold is around 20 hours. You can see at C2: it does change. My old bread&butter was a 2-3 day trade. It tends to be around 20-30 hours.

My associate does not use the scalping he room. He is very satisfied but trades in using the MP room.

It is rumored that Levine made his money by arbitraging the big contract against the mini. Arbitrage is basically profiting from the bid/ask spread. Most pit traders profited by capturing the spread, many times per day.

Very interested in more first hand experience, i.e not what is rumored or what one hopes or thinks or dreams. Has anyone scalp the ES or other futures with a 5k account and made 100k per year? Has anyone scalp the futures and made 100k per year with any size account? What size was needed?