Making a living with a $30K account

I think it's absolutely dooable, but 10 contracts is too much to me 6 contracts is more appropriate for 30,000. making an average of 2 points a day on the ES is not extremely difficult.

 

For 6 contracts, that translates to an average of 600 dollars a day, or two percent of account. My mouth begins to water! if one could make that average a day compounded, looks like is not extremely difficult to transform 30K into 3million in one year! Is that realistic? Just curious, as it makes me want to start doing futures.

 

I'll give either one of you my $. Maybe I make a few bucks for once.

 

Futures is a sucker's game. I won't recommend my worst enemy to trade futures.

This market is a slaughter house. On paper, in theory, everyting is doable. But the reality tells us, the smartest noob won't be able to breakeven in 5yrs, let alone turning a modest profit. If you are already thinking of multiple contracts of small profits, you are a prime candidate for disaster.

I am a profitable trader, I know where my profits come from -- all the wanna-get-rich-quick under-capitalized over-leveraged over-traded noobies.

You have a choice not to be one of my suppliers.

 

I wouldn't bother about trying to compound up, you need some cushion for draw downs.

 

Quote from JangoFolly:


Either way, an account of $30K is more than enough to accomplish it, IF his edge translates to the futures markets he wants to trade AND his money management skills are as you stated (and that trading was with real money).

This is a painfully amateur thing to say.

Since his money management is apparently in place (again, assuming he was trading with real money), his simulator results should not be too misleading.

This is a painfully amateur thing to say.

 

Great, go to collective2 or Timertrac or the other tracking sites, where hundreds of advisors try this, and almost all of them fail.

Offer your own system, and you will easily make $100K a year from all the people who will throw their money at you to be traded.

 

Wuts wrong with 2 points a day average? theres been days over the past monthes that I got 20 points, yes theres been days i lost like 10 points but on average 2 points I day is more than possible I would say.

 

I think there is a big illusion with the average you presented. Any numerically-minded person would be thinking of compounding when you mention that average point. Unfortunately the average point does not translate to similar average profits. Here is the anomally I perceive:

Let's say on your up days you get 50 points, and on your down days you lose 46 points. The average comes to 2 points a day. But observe the compound return:

On the gain, with 6 contracts on $30K, your gain comes to 6*50*50 = 15000. Your balance is now $45K, able to trade 9 contracts proportionately. On the next trade, you lose 46 points. The loss comes to 9*46*50 = 20700. Does not really depend on the order: whether loss first, then gain, the story is the same.

So on the average you are losing money, even though your average points is very positive. of course that is what leverage can cause.

 

But the ones who survive get to be famous and rich!!

One system made 300% in 5 weeks by pyramiding up without DDs. Then suddenly stopped trading, so I PMed the vendor, if he was on vacation or what?

He tells me that he already got offers of trading OPM, so he is not going to tinker with C2's papertrades anymore.

Oh yes, his average was 3.15 ES per day, with a Sharpe of 8....