Very simple plan to earn 3% returns each week trading the eminis. 1) Beginning equity is $15k 2) Number of contracts traded = ending equity / $7.5K 3) Target is 1 pt (or 10 on YM) per day or 5 pts (50 YM) per week I will be using a basic pivot trading strategy. I'll post a chart of each days trade and the weekly results each friday. Ready, set, go!
i wonder how persistent you intend to be. there is no way to come up with those returns in the long run without facing unbearable draw downs. settle for something in between 30-100% a year otherwise you'll get killed sooner or later.
I believe that you can do better than 3%. Check this video on position sizing & money management: http://www.mtpredictor.com/Seminars/PositionSizing2/PositionSizing2.html You can use the theory without using their software...Risk/Reward is the key.
Earth to PersistentTradr, 3% weekly on a consistent basis is unrealistic and (I'm not even going out on a limb here) impossible. In 5 years your 15k would be $32.6 million if you could do that, which you obviously can't. Shoot for 4% per MONTH which still better than 98% of everyone here. The people who voted YES should do themselves a favor and close their accounts asap.
Gee every time someone posts something like" my goal is to make 2 ES points every day", someone else posts those absurd calculations" yeah and in 3 years you are going to own the market". And yet i know more than a trader who has been making on avg 2 points for the past five years, but they don't own the market, ask yourself why before jumping at your calculator... 3% a week is going to be very hard, but not impossible. Compounding for ever is first psychologically and then practically impossible, that's the only sure fact.
Are you a newbie or have you been trading for some years? If you are a newbie the answer is no. If you have been trading for years, why haven't you made 3% a week already.
It's not so crazy to shoot for 1 pt a day. What is crazy is posting about it here and not expecting 100,000 bitter people to tell you it's impossible. Good luck to OP.
without compounding(well, once every 3 months maybe) it is quite possible if and only if you are an expert trader.
Ugh...Rough start to this project. I traded a retracement to the daily pivot after price moved through it like a "hot knife through butter". I didn't get the expected follow through to the downside thus I was 100% sure my stop on the 2nd contract would get hit. Getting out of my second contract at 739 was a gift. Setup: Fade retracement to Pivot Entry: 13749 (at pivot) Stop: 13764 (just above 89 EMA) 1st Exit: 13739 (10 pts) Stop Moved to 13749 (Entry Price) Descretionary exit: 13739 after price failed to make new low.