lots of "%" in that post. is this summary correct? your goal is average 10% of the daily trading $ndx range over an extended period of time. so if the sum of all the (high-low) for july was 1000, you'd want to have captured 100 $ndx points, net?
if the range you were talking about was close-to-close, i'd say that's attainable, but i don't think capturing such a large chunk of the intraday range will be possible without going to intraday trading.
it is easy to measure how much potential gain is being given up restricting to EOD by getting a long-run ratio of candlestick shadow length to body length. the ratio is high enough to cause palpitations in any proponent of efficient/equilibrium-trending markets. -ggg-
everything i'm seeing is pointing to EOD as a real discontinuity, and you can see this by the relative infrequency of pivots happening on day boundaries. based on sheer randomness we should see them more often than we do, about 4 times as often as we do by my calculations (which i freely admit could be very very off).
but i've been plenty wrong before, and since being wrong would mean i'd learn something very important, i hope i'm wrong now! :)
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