yeppers..that is the plan....on the low end...5 DAX points or 10 FTSE or 40 YM points all equal $200.00...thoughts?
Another ET jeenyus! Do tell, how many trades are you willing to make to attain your one "highly profitable" trade per day? If one only, and it is not "highly profitable" or dare say, a loser, what happens then? And just for my morbid curiosity, will your trade(s) be discretionarily managed or pre-set with an exit loss limit and exit price target? I want an end to hunger and homelessness. Based on your plan, my want is not realistic.
not really able to evaluate this question....varies...varies...my main focus will be 1-DAX,2-FTSE,...then perhaps 3-YM...I am starting with a fresh approach and strategy...so the past is past...only traded the FTSE once and DAX never...YM many times but found too many flaws with the YM..slippage etc...not enough per point value
ok, so if you are just starting fresh, don't you think it makes more sense to forget about trying to average some arbitrary daily profit ($200-$1000) and focus instead on taking the correct trades, learning to manage risks etc etc? Anyone who is new to trading or learning a new instrument to trade shouldn't be concerned with hitting daily profit goals. Profits (consistent) come only after correct trading is learned, not the other way around. If this were baseball, it sounds like you are planning on what batting avergage you will have, how many hits and homeruns you will be aiming for before you even know how to stand in the batters box, how to grip and swing a bat, how to identify pitches quickly etc.
Swordsman...I totally 100% agree with you...I was sharing my highest goal and how I am looking to get there and the contracts to trade to get there...BUT...I realise there are many steps in between and yours are right on...thanks...what is your opinion on the DAX or FTSE?...ever traded them?...what do you trade?
the goal is simply 1 trade per day of the DAX, FTSE, ES or YM..I like the DAX and FTSE because I only need 1 contract and need many with the others (ES, YM)...well...the loser would be small as I execute tight stops and would look for another entry to profit...thanks for the post!
my trades will be based on price action, momentum of the market I am looking to trade and key support/resistance/pivot levels and key price levels...no technical indicators or MA's will be used...
We know what the margins are for all the instruments, thank you. We know the market hours, we know your profit goals, we know that you have no average profit because you have no trades under your belt. Now shut up and start trading.