Anything is possible -best markets to do that at the moment is CL, GC and ER - they move in increments of $10 and there are 10 possible entries per dollar (with no slippage) - I would not consider the ES, YM or NQ If you look at the ER (Mini Russell) - it has a intraday move of at least $1,000 (2 times) - it moves farther ($$$ we are talking) double the value versus the ES, YM or NQ - and you do not need a lot of contracts. The best way (in my opinion) with a $50k account is to purchase a 15 lot, get rid of 5 at $100 profit per contract and move all stops (the other 10) to break even in case the market goes against you. If you are right you will be able to generate easily $500-$800 per contract. My loss will be $150 per contract from original entry point. You will need "pops" from the market - we are talking about moves the MOVE and do not look back. And that is the reason you need to cover 5 lots at $80-100 per contract. Easy to write about it then to actually be done? Ofcourse. I've been there. If you are looking for 1-2 points, you are messing the ride. Again, most traders get out to slowly when they are taking loses and get out to fast when they are making profits. One way to eliminate that is use stops ($150 loss per contract) and have resting orders MIT 8-9 ticks above or below entry to cover 5 lots and ride the rest. My 2 cents
If you had traded this automated strategy starting on November 1, 2007, account size $50,000, you could have earned the following as of today after commission and slippage: Period Net Profit % Gain Profit Factor # Trades %Profitable 1/1/2008 $399,844.00 3.15% 3.86 6 83.33% 12/1/2007 $189,740.00 1.52% 1.84 10 80.00% 11/1/2007 $659,818.00 5.56% 100.00 7 100.00% Total Net Profit $1,249,042 Profit Factor 4.30
If you had been in my TWO PERCENT CLUB a few minutes ago you could have been making pips with us: (8:06 AM) zeller4: +3 (8:06 AM) fcg0lfer: yup +11 (8:06 AM) slptrade: beautiful call Avery (8:06 AM) Dcpip: +11 (8:06 AM) scottei_1: yes (8:06 AM) Dcpip: ty (8:06 AM) CMEHH: 2 trades, 23 pips (8:07 AM) sgoldney: i got a few. first news play so i need some practice at that (8:07 AM) Rsimp: nice work peops (8:07 AM) slptrade: +9 and i was late (8:07 AM) davidb_12: 18 (8:07 AM) scottei_1: +7p out quik (8:07 AM) CMEHH: great call TRO
That's downright groovy. And what should he do right now to make that kind of return in the next 3 months? (I'd appreciate a response before mid-April.)
Trading the BUY ZONE just a few minutes ago in my FREE www.paltalk.com TWO PERCENT CHAT ROOM: (6:00 AM) orimarc_2: ok TheRumpledOne: open 106.72 TheRumpledOne: +7 (6:02 AM) jimburger: SWISH airball (6:02 AM) jamtheman: +6 (6:02 AM) davidb_12: hi guys.......4 (6:02 AM) danglin: +6 (6:02 AM) airball_1: +8 (6:02 AM) orimarc_2: requoted, no trade for me here Note: in/out of the trade in 2 minutes or less!!
Man....that's a tough goal to achieve. If you want to do it don't trade stocks. Go higher leverage...forex or futures. Three months may be too short of a time frame why not 2 years... http://www.commoditiesvue.com