I read somewhere that every additional monitor you add will double your profits. So if you can make $1k a month with 1 monitor, then you should be able to make 4k a month with 4 monitors. Seriously though it just makes everything easier...I can open up my broker account in one, options chain on another, spreadsheets, multiple chart windows etc so its all there when I need it. I can't stand going back and forth between windows or cramming things into 1 screen.
I currently trade with Topstep. This week, I made a total of $33 324,30 across three accounts trading 1-3 contracts. A more fair comparison would be to look at only one account, so that's $11K / 220 ES points per account. The weekly range was 117.25 points. On the unlikely event that anyone bought the very low and sold the very high on a swing trade - that would still require 2 contracts and an account size of $32K minimum. Realistically, a good swing trader would probably not capture the full range, so probably at least 3 contracts and an account size of $48K. With intraday margins, you can easily trade 3 contracts with a $5K account (not advisable) or less. Anyway, we have a new week coming up on SPX. Place a swing trade (entry, stop, exit) and we can compare by end of the coming week.
Well based on my post back in March where I called SPY $640 being possible before a correction...while you all were thinking the market is "so wrong" lol March SPY chart Current SPY chart This would be my long entry...wouldn't even look at it before that...like I haven't even looked at it since March.
Good Morning Laissez Faire, I agree with you, 1000%. High win rate alone is not enough to be consistently profitable day trading.
Your frequent attacks make you come across as an insecure validation seeker. You refer to a thread made by one user. There's plenty on here who's been riding the long side and which also have been eyeing 6K+ on SPX. Pity you can't trade the past. Next week's a new week. There's a massive difference between trade calling and trading. On that subject, my win rate last week was 39.64 %. Long term, it seems to hover around 35 %. I would say my win rate on the day outcome is better, but my executions can still be untimely, so the win rate is lower. If win rate was my chief concern I could simply move my stops quickly, but that would also mean I would stop out of profitable entries before take-off.
It's not attacks...its frustration with incompetence! How am I trading in the past? Can you guys even comprehend what you read? @semperfrosty included for the thumbs up My trade for SPX would be in Oct2025 when I see a correction to the level I posted on the chart. That's trading almost a year into the future! ??? I would never actually put capital in SPY or SPX so will be a paper trade.
My current strategy requires me to watch charts for long hours. Some days I might only want to trade for 1 hour and do other things.
When someone wants to build a car, a boat or a house. He/she needs to obtain the foundation knowledge first, create a blueprint and select the right set of tools before carrying out the big project as it's time consuming. The same goes with trading. You learn how to read PA first, build your trading systems, as I've already told a dozen of traders here at ET, and from there you'll see many recurring patterns where you'll begin to figure out trading techniques to enter, exit, stop loss and don't forget developing techniques for avoiding traps as well. My best advice is do NOT try anything while you're desperate. It's a big NO. If you still insist on giving it a try, then you've to make commitment until you make it or giving it up. Do NOT believe in anybody as most will mislead you to a wrong path. Some might share valuable hints once in a while you'll realize immediately if you've some common sense in trading. One last thing is that if you want to trade successfully, you got to figure out how those algos driving prices up and down. There are some action points that algos usually get trigger (not always, but >80% of the time.) You'll hit the jackpot once you figure out those APs and select the right trading techniques to capture those moves. Wish you all the best.