My Goal is more about 4% per day over approx 160 days. But there are variations around due to capitalization. Yeaterday was day 1. Should be at 1100$. True my "true" net P&L is -200$. But I discard it. My Christmas. Thanks.
If I mental trade. Does it works ? Because I am kinda right in my judgments. However I've got that fear which inhibits my actions. The worst I could do is enter too late. And being stopped. Well, at the end it's a bit like paper trading. Got to turn poetry, Into profit. Isn't it Pekelo ?! Godammit I'm Gonna make it. I am gaining confidence this way. First Do No Harm. Not going to bungle my executions, system. Don't subdue luck with reason. Don't subdue reason with emotion.
Agree. If trading ES, you'll need at least 10k in the trading account and at least 50k of TLNW to trade 1 contract.
WOW, that even worse than paying $4 bucks, so you paying like $6,098 a year on commissions. So you have to make 121% to breakeven on the year with $5k account. http://www.deepdiscountfutures.com/lowestrates.html
I saw you reply in a similar fashion to another thread Handle, in terms of the % necessary to breakeven, and I'm not sure if its the best way to look at trading futures. Simply put, it doesn't matter what percentage you can make on the capital in an account, mostly because I think that it comes down to margin requirements per contract and what your risk:reward is along with how many trades you make. A person starting out with a 5k account who knows how to trade can trade 1 ES contract, and assuming they make on average 2 points per day, so $100 per day, $500 per week, $2000 per month, and hence about $24,000 per year. If we exclude commissions and slippage, we can say this is 480% gain. But if the trader has $50,000 in the account, but still trades just the 1 contract, the profit of 24k is the same, but now its only a 48% gain. So in my opinion, when it comes to trading futures, any idea about growing an account and percentages involved mean absolutely nothing. Its all about how many points you can make on average per trade, how many trades per day, and of course how many contracts you trade. The account needs to have sufficient funds for drawdowns of course, and holding overnight, if that's your thing, but its not so much about growing the account as it is simply maintain the minimum capital required to be able to take the trades. Slippage and commissions of course do add up, and your calculations of that is correct, but once again, when it comes to futures, thinking in terms of a percentage that you need to make on an account balance just seems like an odd way to look at it. If anything, I would say that the $6100 in commissions equals 122 points, so you have to make more than 122 points per year to be profitable if you're going to take this certain number of trades. Saying you need to make 121% is very arbitrary. I of course know you know this, and of course locking in that 1 tick profit as you say is key, but its just odd to me to see a discussion about percentages when it comes to trading accounts.