The Tao of Minimalistic Trading: $300 Daily Profit

Discussion in 'Journals' started by schizo, Dec 4, 2015.

  1. schizo


    Who knows, this might be just another short-lived gratuitous and facetious thread. Too early to tell. So what's up with the title? Well, now that I've finally automated my trading system, I want to take things slow and trade a smaller account on the side.

    Personally, I've been trading for too long and, being no different from other greedy traders, I was too damn obsessed about money. My obsession had no limit. I'm sure a lot of you can relate. C'mon, fess up, you know who you are.:)

    So without further ado, let me get right to the point. My goal is to make $300 trading 1 ES contract. Why $300? Considering there are 22 trading days in any given month, that would be $6,600 profit for the month. Geez, ain't that enough to live on? Yeah, I'm a born-again minimalist.

    For those who are not in the know, 1 ES point is $50. So I would need to score 6 points. This could be done in a single trade, or in multiple trades. Either way, the objective is to make $300 and close shop. No dicking around afterward, as they say in the boondocks. Needless to say, this also applies to the losses as well. If, in case, I lose $300, I must unplug the computer.

    So without further ado, let's begin our journey into the discovery of the Tao of Minimalistic Trading.
  2. tortoise


    Trade six contracts aim for one point per day. That's doable. Six points average per day ain't gonna happen.
    Last edited by a moderator: Dec 31, 2015
  3. Visaria


    You need to net an AVERAGE of 6 points a day (or average 1 point on 6 contracts). You have to take into account losses which are guaranteed to happen.
    kut2k2 likes this.
  4. It's simpler to get $300 a day out of Crude Oil, IMO.
  5. Q3D


    If you scalp for 3.5 ticks on average to make the $300 you'll need a whole additional point each day to cover expenses, if not more depending on your data costs. I've found it's much easier and quicker to lose $300 on the ES with 1 contract, sometimes it takes only a few minutes to get near that.
  6. tortoise


    On the other hand, who knows?
  7. Q3D


    Forgot to mention lots of break-even (this term is a misnomer frequently used by Al Brooks) or small losses in a day will make it so you could end up having to make $400 a day prior to commissions and fees in order to reach the $300 goal.
  8. VaheV


    You can make and 30 ticks on the day quietly. important to have the will to restrain their greed and close trades
  9. schizo


    Long 57

    st 55.5
  10. schizo


    Out 61 for +4
    #10     Dec 4, 2015