Well said NeoTrader only one poster besides yourself has said anything positive... I have found this forum to be very negative in general. When I look at all posts, not just mine. It seems some of you get your kicks out of just bashing and such. and yes to the previous poster... I banked the net profit on 2 contracts... so no I did not capture a 1/2 or the range... geez! I profited 36.5 points per contract across 7 trades, average including the losing trades of 5.2 points, if you must know
I'm totally oblivious to futures, all I know are options; But what does 36.5 points mean ...So what did you make today % and/or dollar-wise?
It means he made ~+$1,460 before fees. Since he said it includes the losers of 5.2, I guess he netted them out so they are not included in the total net. Edit, math was off.
So, whenever someone says they made One Point in Futures...that basically means $40 $1,460/36.5 points= On a % basis, I'm guessing that is relatively small. Atleast compared to options. In options speak...I would have made 100 points, for the ES equivalent,...loosely rounded off,
Futures vary. For example, NQ is $20 per point ($5 per tick) per contract; ES is $50 per point ($12.50 per tick) per contract.
Yeah, he made 144 ticks basically, but per contract. He said he did it on 2 contracts, so multiply that by 2, then multiply by 5 bux. Then just add the extra $10 per contract without doing multiples to avoid confusion. NQ and ES are .25 points per tick (4 ticks for a point), where ES is $12.50 per tick but NQ is $5 per tick. But stuff like CL is $10 per tick, at 100 ticks per point. Imagine the days when everything was still in fractions? hehe. .0325 and shit.
OMG it's not that complicated.... I track my results for the day as Net Points won or lost... and then back out approx $4.2 round trip per contract... as mentioned.. it is about $1460 minus approx $58 in commissions and exchange fees... about $1400 net but none of that is even the point of this thread... the point is how much better I feel as a trader to take a profit and be done for the day. To ignore the urge to continue trading and potentially give it all back or even show a loss. It is a major difference for me personally in my confidence as a trader..
There are people here willing to help with concrete advice (@Xela @speedo - plenty of people actually) but its still your life and your money. There are a few people who just get a kick out of trolling. I can't say if I have read every post of the trolls, so they may add value. However, one troll was in another thread bragging about making over 300 grand in one day! Mind you that was after the fact, the same thing he accused you of. Just know that if someone is living a lie that will reflect in the way they look, their health and their relationships as they project towards you. Even though the 300 grand was possibly real money think of how miserable his life must be to troll everyone.