<<Impressive returns, but how long have you been doing it? and over that time what is your statistic of winning days/weeks vs losing days/weeks? Thanks all for your support>> I've been using the same trading methods for 2+ yrs... very simple, yet very effective. I've NEVER had a losing week, or month... an occasional losing day pops up maybe once or twice a month... but even then it's only maybe 2-3 pts loss... no biggie! like I said... I pull a 90% WIN rate... so I don't lose very often Happy Trading!!! Dave
don't bet on it . all things are possible to him that believes. I take approximately 20pts out of the mini's daily
on average if you can take 15% of daily range out of the market, you are EXCEPTIONAL.... you can call yourself a PRO if you take average 12% of the range.
Can you elaborate on your method that has that high of a percentage. I am working very hard to average 2-3 pts. per day per contract, and some consider that very successful, but your method seems to put mine to shame. I trade e-minis almost exclusively and I am curious to know something about your trading methods if you care to share it with the rest of us.
Out of every 10 trades you make, you hit on 9 of them? That is incredible. You must be psychic! Show me how to hit on 9 out of 10 and I will buy you a house! (10 out of 10 will get you a yacht with the house).
Agreed this is childs play. I shoot for minimum 10. Really good day is over 20. Best day so far 26. Trading up to 6 contracts at this point, normally entering and exiting in 2 contract blocks. These are ES points. fwiw oneway
For those who average 10 points plus per day with 90% + winnings (or are "simply" decently profitable ) what kind of stoploss are you using on the ES? I am considering using much larger stops(4-5 points) in trend at least with the 1-2 point stop I usually have I find myself missing all the big moves because I always miss my ideal entry point, a window of opportunity of less than 2 minutes usually, and then just watch infuriated the market take off , like Friday I had to leave my desk and came back at 2:45 by the time I turned my system on the market had already completed a triple bottom, then I missed the entry on the 3 min flag because I thought the pullback would be a bit longer in time. Oh well... that's called undercapitalization.
One thing I have learn't from your post is that I may have to be a little less fussy with my stop loss. A little over a point is all I am willing to accept. This is not undercapitalization, just the realization that with low commission rates what is the point of having the market move against you by this much? Just get out and get in again. I think I have been over-zealous with this point of view, leading to over trading and general frustration. Having a look at the decent past moves though, you should be able to get away with a 2-3 point stop max. However you are right - they are fast - probably best to set an alert for near price movements for those trips to the bathroom when awaiting entry!