Well it is possible to make $60 a day but the person will have to have alot of patience and go for the best set up and use his money management skill.
Oh, you mean trade well? That's the whole point, isn't it? The only edge the retail trader has is the ability to pick-and-choose their spots and excute their trades like they are in a battle and have a limited number of bullets. JJ
Exactly. As a small futures trader (I have other gigs), I look for one primary set-up each day before the day even starts. I still may see others that develop and trade them, but, for example, I got one this morning on the dip, bought it, closed it out and am probably done for the day. Keep in mind I don't NEED to make money from the futures trading. It would be a lot tougher if I HAD to make money to eat, pay bills, etc.
And by no means do I think I have it all figured out. Listen to advice that's given on this site but decide for yourself whether you're going to use that advice.
Some merit to that rule. But is also means that if if you hit the $61 stop you have to wait a day and then have to make +$120 to even make the average. So during that second day you try to win 120 with a stop at 60. If the stop is hit, the 3rd day you are to win 180 with a stop at -60. Hard. If anything, psycholigically. Ursa..
of course it is possible for a couple of days or months. maybe during a extended bull or bear market as we are seeing from 02 onwards. but no one is able to get such return consistently years and years over covering all sorts fo market conditions without going bust at some point. 1.5% per day translates into over 4000% year. such return is only achievable at expense of an overwhelming risk of ruin. most optimists here probably are used to the trend in the ym since last july and hence think this will keep forever, but they are wrong, their forecasting capabilities will soon come to an end and market will teach them lesson sooner than later. i am returning around 30% per year for the last 18 years and only had a down year so far. but, if i had aimed at 100% return per year (with the subsequent risk) instead, i would be bust many times by now. so think about it. does these guys at top hedge funds that have tons of brain power and unlimited computing power are missing the big ym scalping opportunity, or is quite the other way around?
Only if you are JimmyJam! As you, and the others who have offered to take me up on the bet, have figured out, you can insure a win in the bet account by using your main trading account to hit the trading account's low bids and lift the trading account's high offers. You could probably transfer $15k in this fashion in a day, why wait a month? I offered the bet to JimmyJam because I knew he doesn't have an account with $15k in it to paint the trades with. Nor does he have $100k to escrow. As another poster ponted out, none of these Internet escrow bets get done. The best I have ever been able to do is to goad another poster into hitting a way-below-fair-value option bid. .
LOL, your last line says it all. Some of us here are talking trading. You're talking shit. Big difference. JJ
Really? I don't understand how you could do this efficiently - you would have to clear out all the standing bids/offered in order to hit your own queued order from the other account. Would this take massive amounts of money to do, risking far more then the $100k?
This thread is hilarious! OP asked if it's possible to make $50 to $70 per day with a 4K account in YM. Of course, idiot pessimists are ready to tell the kid/guy/chick NO WAY. How do they do this? By literally changing the question OP asked.... "uhhhh, that's about 1.5% of your account. and uhhhhh, that translates to 4000% over a year. uhhhh, soooo, hmmm, no way! absolutely no way!" Original poster didn't ask whether it's possible to make 1.5% of his account everyday without ever withdrawing any money. He/she simply asked whether it's possible to make between $50 to $70 per day....