shortest distance per 1 contract to $200 profit per day is...

Discussion in 'Trading' started by increasenow, Apr 27, 2008.

  1. shortest distance per 1 contract to $200 profit per day is...if you could trade only 1 contract of a future..what offers the best opportunity to to net $200.00 profit per votes are:

    ER2 with $500 daytrade margin
    Comex Gold with $1,800 daytrade margin
    Crude Oil (CL) with $3,300 daytrade margin

    ...seems harder to net $200 with the ES per 1 contract (need 4 points) and YM per 1 contract (need 40 points) and NQ per 1 contract (need 10 points) only 1 contract 'lessens' the commission cost etc...thoughts, agree?
  2. cszulc


    Well, as long as you have the appetite for risk in your account (a.k.a. more than the initial margin requirement), I would say 1 contract of CL. Very large moves of $0.20 ($200) happen often in this contract.

    You can do it in ES, but you have the be patient. My guess is you're better off doing it in HE, or Lean Hogs. Carrying 5 contracts on this only requires $4,500 or so in initial margin and movements of a 1/10 penny happen a lot so that works too to produce a $200 profit.
  3. isn't this just one of those hypothetical what if questions because the one that will take you to 200$ first will also take you to -$200 just as fast... i guess it's just about one that fits your appetite for risk and the various criteria of your risk trading plan...

    my $.02
  4. I think having a profit target every day is the wrong way to go about it. You take what the market will give you. Some days, you will make a killing and that makes up for the days that are just not trade-able. The key is to be able to capitalize on the days that have the biggest opportunities.

    To address your question about which instrument to trade, you will probably have to switch from one to the other on a day-to-day basis and be able to zoom in and capitalize on the best instrument. But that adds another level of discernment that you will have to develop.

    I like to stick with one instrument and just take what I can get.
  5. I'm not sure what your deal is but you are always focusing on everything BUT whats most important and thats choosing a market to learn and then trade. If you learn a market really really well, all these other things sort themselves out.

  6. I am trading 1-3 contracts in several futures NQ, ES, GC, EUR, ESTX50, FGBM, ZF. I am trading just certain situations therefore I am observing more markets find my setups.

    $200 is very easy in GC and EUR /usually I can do it in less than half hour - in positive mode/, more work but well possible it is in ES and ESTX 50, in ZF, FGBM, NQ it is not always doable even if your are trading well.

    Problem is that it works both ways. Lost $200 is very easy in GC and EUR - one big jump over stops and you have it in 10 seconds. Btw, by GC market stop you can get fil easily 10-15 ticks away of your stop.By EUR less slippage but still it can be problem. They can really bite hard.

    In NQ or ZF lost $200 per contract needs clear mistakes, in EUR and GC you need simple accept it like part of your daily life.
  7. Targetting on an entry transaction is not the way to trade if you are operating a complete methodology. OK, nevertheless, lets hit the question.

    CL will get you to $200 in the quickest time most times because the pace is so much greater than on YM or ES. So that is one $10 contract by 20 points (20 cents) = $200 (gross - before transactions costs). You could do that a number of times in a session and also it can be done in the pre-market, usually best in the hour & a half before 10am. If you want to play on targets in CL you can repeatedly knock off 10 points ($100 gross), say 20 or even many more times per session. This lets you sail through retracements when they turn out NOT to be reversals. But the catch is you really do have to know what you are doing otherwise you will burn your ass badly. You need to know how to hit off an entry around the top of sharp peaks or around the bottom of sharp dips (I love them).

    Thus this market requires a lot of mental computing but it comes naturally through the repeated drill of your operational skills. I use limits, not market orders, because I know the market minutely, from experienced play. I only follow the market but I'm in control, not the market. I operate within 15 seconds as a matter of course (or of course on longer consideration - as required). My point is not to boast about my skills; I want to underline how well you need to know what you are doing, to play successfully in CL.
  8. Hmm i dunno
  9. limit


    You left ou the most important one, penny slots.
  10. this is a great response and great your view on limit orders only...please share more on 'scalping' the CL...thanks
    #10     Apr 28, 2008