when f.ex. ES trades in a small range, you can still make more money then in a day with gigger range.... lets say ES makes a big down move and a nice correction up: rage 80points, f.ex. possible poinbts down and up 120 points BUT: 2nd day ES has a range about 30 points, the market is moving up anbd down 10 times....(only an extrem example) = 30x10 = 300 possible points Its not always obvious what seem obvious
Still really good! If you can pull off average $500 a day thats still an awesome salary! Beats any day job I can think of...I don't know about everyone else?
I'm still trying to figure out the best way to tackle this trading business. I have a sum of money that I would like to use and so far this is what I have come up with as a strategy for myself. If I would like to make $10,000 per month here is how I look at it: 5 Contracts 5 Successful Trades(2 ticks each) $125 per trade - Commission $5 = $120 *5 Contracts = $600 Potential if you average $600 daily = $12,000 monthly. *I sat at my computer today to test this. If my goal is to achieve just 2 ticks per trade I never lose, anymore then that I start to make mistakes. It took me 5 minutes to pull off 6 successful (2 tick) trades on the E-mini S&P 500. Is there something wrong with my outlook here?
Before you get flamed beyond belief, I will defend you in stating everyone had the same thoughts and experiences starting out on a simulator. Any experienced and successful trader who tells you otherwise is probably lying. Additionally you are not always trading in the context of today's volitile market where almost any fill will oscillate several ticks in either direction while continuing sustained directional movement. Good luck eminitraderdm.
I'm just saying. It doesn't seem as much like rocket science as a lot of people on here make it out to be. I may be in for a rude awakening when I hit the market with real money. *However in my defense I did pick a point in time when the chart seemed to be moving sideways in a tight range.
<i>"Mr Austin, With the utmost of respect, I am asking why you do not post blotters here or in the p/l thread reflecting your net gains, accounting for commissions, as many other posters do? Thank you for the reply and good trading and bagging austin."</i> I used to do that... and may again do so in the future. If you follow the P&L threads at all, you will see where I was chastised for asking the same of everyone else in there. The popular vote was posting a bare blotter with no other info was perfectly fine. So I'm in Rome here, and doing as the Romans do. Until everyone else does otherwise, I play by the same rules everyone else is held accountable to. Equal standards for everyone, zero exceptions. * Scalping eminis seems like the easiest money possible. That is common logic 101, impossible to explain the difference to someone that hasn't tried it with real money in real time. I learned some time ago not to even bother trying, instead I encourage anyone to try that using 1 contract and see what happens next. Scalping eminis takes the epitome of patience, discipline and skill applied. Where it seems like the least is required, the utmost actually is. Trading for handles is easier and more lucrative when those skills are developed... and every good scalper must first be a good handles trader. That is the natural order of evolution. If a trader can scalp successfully, they can easily trade for handles. The reverse is not true, at all.
Thank you for your reply, et needs more inteligent, civil discourse. While you are not an et sponsor, a simple google search of your handle discloses you are a vendor and was merely trying to ascertain if your postings represented actual or simulated results. I appreciate your reply.
This seems to be the general view of everyone. I will open an account shortly and try my hand at this with 1 contract and see how it goes.
i am a professional gigolo and i can tell that hot chicks will pay you 1000 $ a day to have sex with you :eek: . In fact it's so lucrative that i'm thinking about quitting my job as a trader. As it were, i'm a buy