Land sakes alive. This site is in far worse shape than even I realized. Based on that exponential math above, +1pt ES per day is roughly +1.79% daily. So that means someone averaging +1pt ES per day somehow projects to $1.2 trillion in one year? ** Now I realize the lingering mentality of ET is to "kill all vendors" and some of the (remaining) old guard must cling to that belief... because if they turn out to be wrong, what else are they also wrong about? What else have they been wrong about all along? Scary thought for many here. Frightening, actually. So even though some of the vocal minority hate this messenger, here's the plain truth. Take it or leave it. We're talking about your careers here, so it might be worth your while to listen. Day traders in general and emini traders in particular are really good at trading. They are really good at clicking in orders. Lots of them. But ya know what they really suck at? Keeping profits. How many times have you read in literally 100s of threads here where traders have said something to the effect of, "I was up x today and should have stopped trading there. After chasing every last wiggle that waggled, I'm now at breakeven or down for the day" The gunners and the over-trade addicts always glean most accolades. "Way to go, man! You were on fire today" or "You called every wrinkle and twist today. You're a freakin' rock star!" But given a look inside those traders' accounts, you would probably see big (if not huge) sideways equity swings thru peaks and troughs. Nobody with zero exceptions in this profession trades every minute, all day every day without riding the sideways roller coaster towards (hopeful) success. For every session like yesterday that goes directional into the close, two others chop sideways into consolidation. The rock star traders and their wannabe followers purposely forget that fact, because it does not support their desired rock star trading lifestyle aspirations. Do you know something else that most short-term traders become adept at? Being marginally profitable intraday at some point(s) or other before ending flat or net-loss... more days than not. Target shooting for acceptable profit goals intraday is nothing more than an acccount AND trader management approach to smooth out equity curve performance. Nowhere is it written that anyone must trade every wiggle all day (and night) or else they cannot win this game. Get really good at being marginally profitable most days, keep those profits and then gradually add contract(share) size. That ain't the only way to win over time... but it damn sure is one of them. I paid for site sponsor status for the right to speak freely and set some misconceptions straight. My time here in that capacity is brief, I'll turn my shovel and bucket back into the sandbox bullies here soon enough. Meanwhile, the ideas I have shared are things learned thru trial and error, the hard way. By far the most pricey and expensive $$ lessons you'll ever pay for in your trading career will be the educational packages paid to Mr. Market itself. By far. What I'm sharing here is free. Take it or leave it, doesn't change the facts one iota either way. Shoot for +5pts (or whatever you decide) ES per day. Keep the losses contained. Hit that goal 1/3 to 1/2 the time, and let remaining sessions wash each other out. Gradually add size. Trading and trader management approach for smoothed equity curve. Simple as that
Austin I think a lot of what you have written in other posts is self serving garbage. But that was an <i>excellent</i> post. Newbie: read it and implement it.
Is it any surprise to anybody that the OP has never responded to any comments on this thread..... Looks like a nice "bait" from the administrator or mods...happens once in a while... NiN
I've been here, following and digesting the comments, just didnt have much to contribute since. I did a little bit more study on the quiet periods of the market - 5pts is pretty tough to eke out during low volatility. Perhaps I'm looking at this the wrong way, as some posters have suggested. I've decided to give it a shot anyway for about 6 months or so, to see if this is a viable way to spend my working hours. Instead of pt targets, I plan to just execute my strategy using maybe 5-10 contracts to start with, and see what happens in 6 months. Thanks all for the comments. Its an eye opener!
My math is right, yours is wrong. Assuming 252 trading days in a year, you'd have a) assuming 1.79% daily return: 2800 * 1.0179^252 = 244820 b) assuming 8.92% daily return: 2800 * 1.0892^252 = 6,284,660,000,000
Yes but as long as it creates an interesting discussion, who cares? Now slightly modifying the OP, what would be the achievable maximum average return per contracts per day for a very good trader in the long run? With today's volatility it could be possible to do 5 pts, even 7-8....
again, it no secret that making 5 points or 10 points or 3 points or 7 points or 2 points , or 4.5 points a day net will make you lots of money. this is not advice, its a waste of space. reminds me of racetrack touts that tell you to go to the track and only bet one SURE thing a day. reminds me of that a lot.
well then it's fitting you are part of this thread, because in nine year's worth(less) of posting we see nothing other than one-liner catty retorts, supposed historical market calls and lots of pretty images of the inane. with all that time on your hands spent dressing up these threads with zero contribution, little wonder why your threads get one-star ratings?
ya gets what you pay for. at least i'm not charging for the privilege dont ya love the smell of a 90 minute squeeze in the pm?