Is it realistic to average $17.50 a day trading YM with 3.5k ??

Discussion in 'Professional Trading' started by jimmygold, May 11, 2007.

  1. OK , yeah your right. I also started a thread last month about whether it was possible to earn $50 to $60 a day on YM with 4k.

    Why might you ask am I starting a whole new thread that is soo similiar to that one ??

    Well, starting on Tuesday I start trading with the Live 4k !!(actually, its $3500 now ) I have been Simulator for nearly 3 months now. And have become fairly confident and successful in the last 4 weeks.

    But honestly I am a little jittery to be trading live money coming up this week. And I need to open up a little to you other Traders to keep my focus and morale up a little bit.

    I have conceded that starting out at about .5% a day return would be more realistic to my goals. That comes out to about $17.50 a day on the YM with 3.5k account . Thats one contract and one contract only until I get an account over 10k.

    I just want to get a little more input .....Is this realistic ??? And you guys who said 1 % is not possible or against the odds, what about this figure ??

    I know in Simulation I can do it. But isnt it a little different in real trading as far as Platform speed, fills, slippage etc.... ??

    In 3 months, I plan to put in another 5k
    as I want to see how I can trade with a smaller stake now.

    Iam sorry for being such a pain in the arse in posting this again. Its more thearapeutic to me than anything !!

    Thanks for the input and any valuable insights you guys have. And thankyou for tolerating another Thread like this again. That includes the owners of Elite Trader. :)
  2. Sure, why not. Definitely doable. Depends on your setup and your edge.

    Best of luck.
  3. $17.5/day, that is way way below min wage. Aren't you better off flipping burger at MacDonald?
  4. rcj


    Jimmy ....

    Jitters: To get over the jitters make your first few trades when
    price velocity is low as possible.

    17$/day avg. You already know the answer to this. Not likely.
    But...never know.......

    How much are you willing to lose?? Important question imo.

    good luck.... its gonna take time and money among other things.
  5. You're going about it all wrong.

    You should know the risk:reward / probability / setups down cold.

    If you don't, don't trade with real money until you do.

    ... and the comment about adding another 4k in a few months ...

    that's a loser. You have to build your account operating from the base that already exists.

    If you're trying to fund your account with thousands of dollars and use it to generate income, the other guy was right, you would make more money at McDonalds.

    Good luck,

    Jimmy Jam

  6. Not sure why you say that. What do you mean I already know the answer. The previous thread I was talking about averaging nearly 1.5% return a day. ($60 a day on a 4k account )

    This scenario is $17.50 on a 3.5k account. Thats .5 % a day ! Quite a huge difference. A 200% difference to be exact.

    So I am not sure where you are coming from in the above statement ??

  7. Yeah JJ,
    Not trying to fund account to generate income. Just want to stay alive and survive learning curve.

    Incidentally, I do have specific written down setups with stop losses and risk management fully realized. Maybe it sounds like I dont but I do.

    Also I wont add more to the balance until I prove to myself that I can build the small stake up with what I have.

    Anyway, thanks for the input JJ !!
  8. balda


    You must stop thinking about daily P&L it is irrelevant to a trader. Trade your set up. Thinking about P&L is a sure way to loose.

    By the way your math is all wrong.

    1YM contract as about $65,000 so $17.00 is about 0.03% of the managed capital. Your account balance is irrelevant to it. some brokers will let you trade with $300.00 others with $2,000.00 but you always manage same capital.

    You are trying to see how far you can drive by the amount of gas without knowing a fuel tank and your vehicle.

    Is 5 gallons enough to drive? (car, truck, train, airplane)
  9. BJL


    $3500 to trade a $65000 contract.
    initial margin over $1400 leaves you with about a 2k cushion for losses.

    trading equities with almost 1:20 leverage is a sure way to get wiped out. you only need to lose 3% and you can't play anymore.
  10. asap


    the current ym action is very suitable to setup strategies to scalp a few points per day with minimum risk. that's why there are so many traders here saying, that's piece of cake.

    let me tell you this. sometimes i trade ym just for fun - one contract, just to see if i come up positive for the session. do you know how i do this? dont use any chart, just eyeball quotes and enter limit orders in and out. know what? i made more than $100 in almost every day since last november. the ym is so easy to play these days that during most of time it only takes a buy order and profit target to rapidly flip it for a profit.

    have you seen puretick and other services promoting their "know how"? see where all this ym euphoria is coming from? think about it, for how long this could keep up?

    so trade ym and make your daily objectives but rest assure that wont be sustained endlessly. you'll have to quit or find something else whenever the ym stops being profitable for you because eventually it will.
    #10     May 12, 2007