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ExchangeBonds
Registered: Jan 2012
Posts: 175 |
06-12-12 03:19 AM
Just being able to overcome commission and fees to be breakeven makes a person in the upper half of traders. Making a living on trading puts you on a higher tier. If you are able to make 5 handles or more on the ES on a daily basis, well you should be quite the millionaire. Using a 100lot, that's 6mil a year. Is it possible? Yes, it is possible, but it is not realistic as a general statement.
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Handle123
Registered: Aug 2007
Posts: 1037 |
06-12-12 05:14 AM
Quote from themickey:
I trade the SPI in Australia via a SIM account only and my system is indicating I can average around $600 per week on 1 x contract.
This after all slippage, drawdowns, commission etc.
That's around about 5 points per day.
Comparing this say with ES or any other futures index, is this reasonable or low or high by your estimations?
If you can average that, incredible.
All the years I been trading, with proper experience can make 2-4 points consistently, but that's it doing volume and best to own or lease a seat, and either quit or reduce contract size after goal is made. But it takes years to understand this. All I ever hear from others is how much they left on the table. Takes so much patience and being able to accept that smaller daily average is how to make money in this game. Trading same size all day will eventually wear you down. Make it early in morning and quit. Start with a one lot and build up, and enjoy your life after you make it.
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dolphins10
Registered: Jan 2012
Posts: 124 |
06-12-12 06:01 AM
Quote from Handle123:
If you can average that, incredible.
All the years I been trading, with proper experience can make 2-4 points consistently, but that's it doing volume and best to own or lease a seat, and either quit or reduce contract size after goal is made. But it takes years to understand this. All I ever hear from others is how much they left on the table. Takes so much patience and being able to accept that smaller daily average is how to make money in this game. Trading same size all day will eventually wear you down. Make it early in morning and quit. Start with a one lot and build up, and enjoy your life after you make it.
Totally agree with this Handle.
I have been posting my PL for the last 6 months, the question I get ask is "why not increase the contract size". Slow and consistent is the way to go. On the day I am greedy, I give away what I have made plus more.
I trade for few hours each day, then quit
Start again next day and next day, increase your POT and ENJOY
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DarkTrades
Registered: Sep 2010
Posts: 9 |
06-14-12 03:15 AM
My broker allowed me to trade 7 ES contracts. At first thought it was crazy to do and my broker strongly advised against it and told me to get good with 1 contract first. Anyway, I got the idea from trading stocks. I had a $36k account and used margin and often made $2,000 per day, some days $5,000. How? by not being afraid. I would take $100,000 positions for minutes or hours. When I went to ES I did well for 2 weeks and one day after arguing with my wife I literally destroyed my account by doing everything I knew I was not supposed to do.
I am on a demo account and I average about $1,500 per day trading 6 contracts. On some days I make $3,000 but not so often. I still trade high beta stocks like CENX and do well.
Anyway, I will trade the demo account for 2 more months and if I see my profits are consistent I will deposit money into my account and trade for real.
I think I got as good as I am because I am a freelance It consultant working from home and I have most of the day to just watch the markets and I have been doing so for about 4 years.
So, no one ever really told me what I could and could not do and I never asked, I just did what I thought I could do and it worked out for me.
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logic_man
Registered: Oct 2010
Posts: 1489 |
06-14-12 03:37 AM
Quote from DarkTrades:
My broker allowed me to trade 7 ES contracts. At first thought it was crazy to do and my broker strongly advised against it and told me to get good with 1 contract first. Anyway, I got the idea from trading stocks. I had a $36k account and used margin and often made $2,000 per day, some days $5,000. How? by not being afraid. I would take $100,000 positions for minutes or hours. When I went to ES I did well for 2 weeks and one day after arguing with my wife I literally destroyed my account by doing everything I knew I was not supposed to do.
I hope you divorced your wife. Once you start making serious money, you're going to want a new one anyway.
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dvst8
Registered: Mar 2006
Posts: 42 |
08-08-12 10:41 PM
1-2 points a day on the ES is reasonable on 1 contract. If you could do that on a daily basis, you're moving in the right direction.
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