How many pts/day trading the Dow?

Discussion in 'Index Futures' started by rickytrader, Jul 8, 2006.

  1. What do most guys think is reasonable to take on a daily basis?

    Lets assume you are trading only one contract, and the results are net.

    I am starting to trade the YM: one contract and averaging 12 pts per day net...usually making 4-8 trades per day...paying 4.3 per trip.

    Just wonder what others aimed for on a daily basis.

    (Fingers crossed that this deoesn't become a pissing contest)
  2. If I'm understanding you correctly, you are making 4 to 8 single car trades per day and you NET 12pts total for the day?

    If that is correct ricky, a pissing contest is the least of your concerns. If not, please clarify and let the flushing begin!

  3. Eleventy hundred and three
  4. Correct I net 60 bucks a day+/- trading one contract...making 4-8 trades a day.

    Re: the pissing contest..I'm not worried about being laughed at for the amout I make etc....I was just worried about guys coming on and claiming to be making eleventy hundred...etc.
    After reading alot of posts on here things tend to get silly rather quick..thats all

    Just wondered what other guys are aiming for on a daily basis.
    Do most take 5 point moves...30 points moves? I know the answer will be "what ever the market gives me" but as far as a goal ecah day...
  5. mikeyk


    this isn't probably much use to you but at some of the prop houses in london the traders target is to take 10ticks per day. Obviously you can multiply that by how many contracts the trader is trading.

    If your reguarly taking 12 ticks i'd say thats really good and if you can maintain that just work to increase your size/profits
  6. cscott


    I average about 40 points a day from YM, sometimes more, sometimes less - but I do not trade it every day.
  7. utamaro


    My risk is 5pts (R) and reward multiples of R. Last week the range was between -2R and 5R.

    I started this week and ended with a small gain. I trade 2 contracts (11K account).

    Not happy with the results since my target was set to -1R and I entered most of the trades in the middle of the trend, not on the reversals.

  8. Personally, I no longer have a daily goal. But when I started out and after I knew that I knew what I was doing, I used a daily % portfolio goal... with a small account, it's the only way that made sense to me. Back then my daily goal was 8% of portfolio. Doesn't mean the goal was met each and every day, but by keeping losing days well south of 8%, come the end of the month, all was good!

    Nowadays with 100pt+ ranges almost the norm I go for capturing 25% of the range, average per contract. Same applies on narrow range days when scalping is the only way to make things happen. In essense this is just a measure for me, used to tweak my trading. I mean if a daily range is say 100pts, and I capture a TOTAL of say 200pts with say 20 r/t for the day, who cares that I didn't average 25pt per car. Yet the carrot dangles!

    I recently had a conversation with my 11yr old nephew (whos facinated by rt charts btw) regarding "what I do". We "traded" in/out scalps for about 15m and after several winners and losers, ultimately he had 20 $5 bills in his hand. I told him now he had to pay commission for the opportunity to earn the money. And then I had him give me back 16 of bills. He was disappointed at first, but he was still smiling. Take away what you will.

    Osorico [Sunday morning coffee buzz is fading]
  9. rickytrader...Why don't you just follow your system?

    Just wonder what others aimed for on a daily basis.
  10. Mikeyk...interesting to know that. Makes sense that the prop guys are trading larger size...any idea of any futures prop in the US or Canada. I would love to take advantage of the increased leverage while looking for modest/safe point gains daily.

    cscott...40 points thats awesome well done. What is your risk like. I usually keep it pretty tight and look to take 5-10 points and risk 3-5.

    Osorico...I started having a daily goal and since doing that my results have been much better..3 losing days in the last 6 weeks.
    Your nephew doesn't know how lucky he is to be introduced at such a young age..good for you (and him) I plan to raise the bar as far as my goal every month or so...I'm averaging 12pts now, and will be looking to increase that to 18-20 soon.

    Was actually wondering what I should do...increase my contract size first then look for more pts per day...or increase my goal for the day while still trading one contract

    ...or both?:D

    ElectricSavant...Good advice, I am following my system, I'm not looking for others advice on how they make their daily profits and switch to doing that...just trying to get an idea as to how other more experienced traders are doing.

    Thanks all for your posts. All are appreciated!!!!!!!
    #10     Jul 9, 2006