Yes, on the weekly chart, this is possible. 1000 pips per contract. On Daily charts, I generally shoot for at least 400 pips. Of course, they aren't all that large and of course, some are losers. But this is my minimum initial goal when I put on a position trade. I try to get as much per commission as I can. The only way to do that is to hold your position. Now I do see some bottoming in the currency futures that I trade right now as I look at the 240 chart, so I may consider closing and reentering at a higher price. ---Not enough info just yet. Long term bearish right now when I look at weeklies.
Generally yes, but I will sometimes take profit and reenter on a bounce, but I don't have to do that--it is generally when I see an opportunity in a different market and I want to explore there. That way I stay underleveraged and I am not a weak hand. Weak hands are usually the losers.
Weekly charts on BP, CD, JY and EC are all still long term bearish. The Aussie is also bearish on the weekly chart even with this bounce. It's always subject to change though of course, but right now, they are all still bearish.
That's without leverage. How many times you attain this performance per year? Say if 5 times, that would be 5,000 pips per year, about 20 pips average per day.
Returns on my portfolio are 50 to 80 percent yearly. 2004 was an exceptional year at 145%. It's not all currency futures of course, and includes naked option selling etc.
Difficult to quantify exactly, but I would say probably it's twice a year roughly. One thing to note--1000 pips is the initial goal, but if it still looks like it's in the larger trend , I will stay with it.
Question for readers: If I set an initial goal on a weekly chart of 1000 pips, would you consider 300 pips to be an acceptable stop?
depends on the volatility of the market you're trading. if volatility is such that it regularly zigs and zags 300 pips on 1000 point moves, then it may not be acceptable. but i don't know how to measure this relationship. do you have any good ideas?