I don't want to sound like a Dream vendor or anything, But the Sky's literally the limit...in trading...if you're good and compound your small starting account -- a snowball can blossom into a full blown avalanche. But accomplishing such a feat...is relatively rare. -- Most people's 'snowball' will just melt or get pulverized.
Yup, or they'll create the 'snowball' and than drop it off the edge of the cliff.... and ... well... poof its nothing but a bunch of snowflakes again.
I trade the ES mostly with the occasional CL, GC, ZB, NQ,YM, and some Dax, but have moved away from it recently. My average daily ES return is 2.2 points perday , per contract. On the ES in Globex i trade 10 contracts, RTH session 4 contracts. Most of my trading is done during Globex. Which is the session i do my FX EOD analysis. Live trade on the GC last night.
When I first started day trading, thought I be make $1000 trades, back than that was 2 points in S&P futures, here it is so many years and I make ticks on a watered down product called ES. I don't have many times based on weekly stats of making more than $30 bucks on ave. but life as a Scalper, less money but have to trade heavier size, the risk is out of this world and you have to ignore it. You keep working on always trying to find anything better, but after so many years, you simple like any job, settle in for long haul of day trading, you just accept what market willing to give. Then one day, as like Newton sitting under an Apple tree get whacked in head and new idea happens, it evolves, keep reworking and then you get moment of ah-ha-I have done it..... Traders speak of "edges", mine is Time Stops and another is what is left of current price. So much less is posted about when not to take a signal, too many are way too interested in just getting in and yet for lack of experience don't have a clue when to ignore signals. Many will think support and resistance is better in if price keeps hitting an area, every hear too much of a good thing is not good and price will bust through more times than not when it happens enough times, oh wait, this means traders will have to study price, hard enough to even suggest they should do back testing..... So when traders always say price is acting strange, it is not acting strange, screams to me they have not studied their craft.
So true Handle. Consistency is the key. Consistent 2 point per day is like winning lotto to me. Update on my short. Taking 1 contract at t1 2137.50 , stop moved to 38.50 T2 moved lower to 34.75
There are lots of strategy shared here, you need to pick one which is best for you and then could try it.
Yes so many strategy in forex and might can making confusion how to choose one, and might also required practice and seeking the best one, with backtest although need trial and error
I think is more important to put the hard work in and develop your own method. The problem is, when there are so many different methods when you are learning it's natural to try them all looking for something that fits your personality and style. We have all been there, its part of the journey. CL trade last night .