You don't have to play for only 1 or 2% gains but you do need to make sure your risk on each trade is only around 2%. You can get much larger gains if learn to let runners run. But risking 20% on one trade gives you very little room to be wrong. To do it here and there is one thing but if use that as a strategy for all your trades you will go broke
Your math is wrong. Batman28 is correct. If you crunch the numbers he is correct. But the problem is, his assumptions are ridiculous. He is assuming a win rate of like 75% where if you win you win 50% and if you lose, you lose 20%. The question is: how do you find trades that yield you 50% return, 75% of the time? Batman28's post is meaningless.
Your quote 'I know wot im talking bout.' You managed to spell 3 out of 6 words incorrectly and I'm supposed to take you seriously? Don't get your knickers in a twist there Pumpkin. The fact that you don't trade is no great revalation. As far as day trading (1000 trades a week) being the most difficult life on Earth, I can assure you it's not. Being a single mother with 3 kids and 3 jobs is a Hell of a lot harder than what I do. I probably do close to 1000 trades a week and my life is fabulous. I don't work for anyone but myself. I answer to no one and on top of it all the dough is $ick. If you wan't to post gambling fantasies go right on ahead, but don't act like an expert on something you know nothing about.
to keep it simple lets focus on indices. firstly to begin with we are levered 10-1. 2nd we're only interested in Index futures. take NDX, UKX, anything on Bloomberg c WEIF.. the best I recommend to try is NDX and UKX.. if u pick trades correctly you will be up 50% on every trade. but this is not likely. I find it goes down roughly 1/3 of the time. but still finishes up. the bet picking is where it lies if this is for u or not. one simple example to try, indices move in unison but they different in elasticity. if u tape watch its easy to spot which dominates which at wot times. but u can also spot at where there is a delyed response and that's when to make the bet trade. imagine every NDX point = 4 UKX points with 2 min NDX causal link to UKX in NY open London close or vice versa. best predictable times are at the open and close of both markets just follow the first trend u can see. look im not here to argue. if you don't like it look away. if u're interested try it with paper money.
let me tell you something. a fact. the most successful traders I know don't play for cents. placing 1000 of trades a week is almost market making lol. u won't even make 5% a week that way. ur trading for pennies and lose probably half the time. it's good if ure making a living out of it. my post is directed at those who want to make serious money. not mere penies. if they use ur method they'd get very bored and frustrated and won't keep the discipline to make any money at all. I don't mind what you do. but I won't advise anyone to day trade.
Fair enough Batman. I know a ton of successful traders too and they all play for smaller gains. It keeps the risk as low as possible. There is obviously more than 1 way to make money in the markets. However, your way is surely a recipe for disaster. Since you're on here showing people the way, maybe you could detail your results with this formula using real money.
hah.. I promise u this whole thread would disappear.. when I first joined this forum I posted a strategy everyone laughed at initially.. but later the whole thread vanished after someone actually took a close look at it who happend to be a mod.. I was even asked why am I postin somethin that works?
Hahaha. You certainly sound funny. Your paper math might be great, but you haven't laid down the scenarios where you can make +50% or -20% with equal or higher odds. Not trading? Recommend paper-trading? What a combo! The funniest is that your thread will disappear because it is too good to be free!
Batman, why are you even bothering with this forum? If you started with just $100, and made 50% a week. In a year you'd have accumulated $143 million. Go for it Dude !!!!!
Damn! Wrong website. I've been having to drink malt liquor after this bad streak, that stuff will make you see things...*whew damn*