tickToGrap = 1
Repeat for day = 1 to infinite
1) Try to grap 1 tick of profit this day
2) if successfull then make sure tickToGrap = 1
3) if unsuccessfull then double tickToGrap = tickToGrap + tickToGrap
I think I remember from a webinar from shadowtraders, she has one of her strategies that goes for 1 or 2 ticks, during unemployment report, or one of the weekly news reports, and she just throws a lot of contracts at it. She said that one trade a week alone pays her mortgage every month. That strategy scared the daylights out of me, so I did not look into her other stuff.
She also raved about the Korean Kospi, and how every Korean trades that, so it has like 10 times the volume of the ES. The government encourages everyone to trade, and they are all amateurs with no training, so it so easy to be profitable with it. But I'm not sure what broker even offers it.
The major problem with this approach is that you'll need a stop in place to prevent an outsized loss. You'll have a limit order in for your 1 tick target, and also your stop.
Your stop will be triggered more easily than your limit order. Price essentially needs to trade "through" your target for your limit to be filled, but only needs to touch your stop for your stop to be filled.
So if using 1 tick target + 1 tick stop, you can expect to lose much more often than you win.
If using 1 tick target + larger stop, you won't lose as often but your stops will result in outsized losses. Thus need to win multiple times for each loss just to break even.