I paid my dues, watched the markets for years, and have developed an excellent system. This month I have had amazing success and I am now ready to go full time. Iâve turned a 400 account into 4,000 this month trading ES! I always heard about day traders making 10-30k a day, and I am sure it is possible now. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-comfficeffice" /><o> </o> I expect to ratchet up to 40-50 contracts soon, but I donât want to go over that which might be detrimental to trading strategy. Anyone have any experience in the position size in ES where you can trade w/out too much slippage and still have good liquidity.
For a beginner 1 ES contract max per 10k equity. If you can make money consistently every week you can drop to 5k or even lower.
50 contracts no problemo on ES... 1. Those +900% ($400 -> $4,000), is it live or some paper? 2. Are you using some MetaTrader broker and their CFDs? I am asking because of margin requirements ;-) http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_performance_bonds.html https://www.interactivebrokers.com/en/index.php?f=marginnew&p=fut ...
Oh it is! http://www.globalfutures.com/accounts/margins.asp Actually im up to $6540 now after closing out the day. But I have to pay $320 in commisions. So really 6220 now
No broker will allow funding a new acct with less than 3k, even with $400 ID margin. Most brokers require at least 5k min. initial balance.
If you have to ask that kind of question, you not ready to even trade a one lot. Just cause you can trade and have the funds doesn't mean you should trade, much will change about nerves going from a one lot to a two lot to a ten, to fifty and hundred, watching what the total of one tick in the beginning is unnerving let alone "try" to remember your trading rules. Take it slow. I have often told all rookie day traders to take a ten thousand account and triple it by doing a one lot, you gain much experience.
My 1600% gain says differently, but thanks for your concern old timer. The nerds that program algos should be nervous as they put their lives and fortunes in the process of a deterministic machine where I am in total control and on top of a dynamic ever evolving and changing market. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-comfficeffice" /><o> </o> Discretionary traders who understand psychology can crush machine traders who are drivng into the future by staring into the rear view mirror.