Realistic Expectation

Discussion in 'Commodity Futures' started by eddie0816, Jul 18, 2009.

  1. Hey all,

    I am trying to get a realistic expectation of profit potential in trading gold futures and minis.

    I am very experienced in the world of daytrading and scalping stocks, and position trading forex. However, I know nothing about futures.

    My question is, what is a realistic expectation of profit, per contract, for a better than average day trader in gold futures?

    I know that I can expect about 100 - 120 pip range in the pound/dollar in forex, and on a good day can catch 50 - 60% of that, and that's the kind of info I am hoping to get about gold.

    I know this is a vague question and I am sure that the answers will vary greatly, but I am hoping to find at least that one trader that truly understands what I am asking.

    Thanks so much for any info you all can share, it may just change my life.

  2. gono


    aaaaaaaaaa OK

    so why don't you look at daily range and contract / tick value

    what the hell man........are you sure you are a trader
  3. That's not the hard part, I am curious as to what is a realistic expectation on the % of the range that can be captured.

    But, thanks for taking the time to answer my question.

  4. edpolton


    For what it is worth, I have averaged $3 per day, per contract over the past few years. Gold's range can vary greatly but I guess that is about 20%.

    However, I am not a full time trader. I usually trade for a few hours in the morning and take the day off completely of I do not like the charts. Sometimes I scalp, sometimes I daytrade, it depends upon how I feel about the setup.

    So, if a part timer like me can average $3 a day, trading only part of the range, I would assume a fulltime trader with equal skill would do better.

    Keep in mind, Comex volume practically dissapears around 2:00. However, lately, there has been decent volume from the London open through to NY open.
  5. Thanks so much for that Ed.

    If I may, what hours do you trade, because that is exactly what I do with forex now and did with stocks years ago.

    I am hoping that there is enough activity from 8am - 10am or even as late as 11am.

    Thanks again for the valuable info.

  6. edpolton


    I usually trade from the spot open at 8:20 until around 11:00, sometime 12:00. But I do not stay clued to the screen. I read the newspaper, watch TV, etc and wait for a setup. So to me, I only trade about 1/2 hour a day.

    I typically take 3 or 4 trades a day. Usually one is a day trade and the others scalps while I am waiting for a day trade setup. Some days I don't trade at all, some days I only scalp.

    A good day is +15. A bad day is -$8.
  7. Man am I glad I decided to ask this question.

    The info you're giving me is priceless for a guy like me.

    I thank you so much for that.

    If you have a chat program that you use, I'd love to jump on and chat with you at some time.

    We can share "war" stories about trading.

    Thanks again,
  8. edpolton


    Actually, I moderate a forum and run a thread on trading gold futures. I try to post all my trades in real time, or in advance. So do a few other members.

    If you PM me I'll send you the address.