I lost $1300 a day trading nothing but one ES for 8 straight days, so it is possible if you do it exactly opposite how I did it
You claiming you can make 1k per day in trading 1 contract Emini ES futures. By the way, I once saw someone lose about $1600 per day for about 3 weeks back in in 2008 while trading 1 contract Emini ES futures when volatility was high.
I don't have an opinion on where it is going, even when I am trading it long term, all I can do is follow my trading plan. I find having an opinion has always cost me profits and often times undo losses. Trading is a numbers game, like being a Pro in video poker. If you have a well defined trading method, well backtested over ten years, you understand drawdown, worst losing trades in that ten year history. More I trade, caring about where something goes means less to me. Just follow the rules. It can be done by specialized scalpers and done everyday, almost. But it is not done by those who do a few trades a day, and by the time you are doing 1k a day based on one lot, you not doing a one lot. I do anywhere from 30-125 trades a day, average down on each trade and risk up to three points at times in ES, my reward to risk is always inversed and seldom make over $35 bucks a trade. And when I have a losing day, it is huge, but it is best for my personality, it works for me after 34 years of trading, it is fun, I can easily see where the little guy is going to get screwed. I don't pay retail either. My mentor will do most days 150 trades of making 1-3 ticks in ES. Scalping should not be done by most unless you are well skilled. ES is great, can do huge volume especially first 30 minutes, but most don't take advantage of first learning about the market, it is in congestion most of the time, best times to trade after is last 45 minutes by reading the volume on the Dome.
I'm curious about your averaging down strategy. When you say you risk three points, is that three points per contract? An example of a trade where you average down would be great.
notice how they ignore the "when it doesn't work out it is devastating" There's the drip method and the bucket method. I don't like either. The number one reason for failure is undercapitaliztion For most traders starting out in ES averaging down is not a consideration, since they are fully committed long or short. That is why I advise new traders to start out in spot forex rather than ES.
Is there a time and sales available for es and if so does it look like it does for stocks, each sale price as a streaming print.
My broker is TDAmeritrade. I only trade the ES. From what I gather, TF is the Russell 2000 futures? Do you know if I can trade any/all future indexes on TDAmeritrade? I do not know what ICE is. Thanks.
yes - tf is mini russell 2000. ice is the exchange tf is traded on like cme is exchange es is traded on. call tda and ask them if you can trade it - you should be able to.
I see, thank you. No wonder it takes YEARS to learn trading. This one is traded on that exchange, this one is over there on that exchange, etc.