You know what: the CME gave Sarao an extraordinary GIFT by warning him first. He could have taken his $70M and sailed off into the sunset. That’s not heroic, that’s stupid tbh.
Irrelevant to my work. Now that you are aware of the 10 price-bar cases, have at it!! Just open your favorite time-based chart and start right there. Weekends have a purpose!
I am not going to dispute that...but at the same time, what about taking the money back from the "big boys" ? Yeah, that ain't gonna happen any time soon.
point each day is $1000 each month. If you can make $1000 each month constantly with one contract you are doing a great job. Scale it up to 100 contracts or even more and you are making a very good income.
Another very important factor, you do not know what the market going to be like today, and this makes a lot of the difference based on the type of trader you are.
Not if you risk 10 grand (or more) to earn that 1k/month... Fellow traders, generally speaking, if you can make 2% a month (on average) and keep the maximum drawdown under 25% you are already a great trader, no matter what market/timeframe you are trading. Yes I know, making 2% a month seems like child's play, but on a compound basis that's close to 27% a year (3 times the average annual return of the S&P500 for instance). Very, VERY few traders (and that includes most hedge funds) can earn that kind of return consistently, let alone with a 25% maximum drawdown or less.
my broker statement (global futures is my clearing firm) gives how many points I made /lose accumulatively averaged out. Something like: average entry, 3152.03, average exit 3153.65
I love this post bone. Especially the : "Control freaks and people looking for certainty should not be involved in trading markets." "You take your little piece out of the days trading range you go on looking for that next optimum opportunity. That’s all you can do."
My fellow broker Joe Easton, watches the ES closely and shared this: [7:04 AM] Joe Easton - Cannon Trading In my opinion 1/3 of the daily range is a "good take"/result. 1/2 to 3/4 is excellent and 100% or more of the range is extraordinary. These are ballpark #s and the goal in any day is to be green. Even 1 pt positive is moving in the right direction and easier said than done.