You daytrade, What is your days goal?

Discussion in 'Trading' started by bighog, Dec 5, 2005.

  1. bighog

    bighog Guest

    You get out of bed, you are flat, you spent years moving up the learning curve, stress motivates you, you are a proven winner verified by the checks you write yearly to Uncle Sam...:D

    What is your daily nut?

    How about getting a minimum of 5 handles in the ES? The amount of contracts or stocks etc is immaterial, just the minimum amount extracted from the mkt in terms of handles etc.

    Stress; is it helpful to your trading? do you get laser focused in the heat of a volatile battle? What moves your wagon? Under pressure is your saying: Screw the horse, load the wagon? or do you hide from stress?......................:D

    In the service, a general said to me: Stress makes hero's, the soldier just springs into action, totally fearless, totally focused on his objective, no thinking just a pure action machine, nothing can stop him. (these days that could also apply to the gals serving also).
  2. The military doesn't train traders.

    A lot of ET person do not have any military experience.

    Stress is coupled to sensory faculties and the trader's senses are devoted to looking at screens, hearing the pits (maybe) and connecting to buddies if any are there.

    TV maybe, music maybe..... Food maybe.

    So what comes up mostly for those who are going to respond to you is based on whether or not they ever get to sense the market. As I read most threads and commentary, I have the feeling that most are not as yet set up to monitor markets and therefore, they have stresses coming to them from what there is to see and it is other than what is the reality of the market.

    94% of term life insurance owners do not collect. Why? At some point before they die it is too expensive.

    Universal life at the MEC level is free after three years and at some point the face value has to be raised because of the cash value increases over time.

    So you ask some Q's.

    In ET for ES, 1 point a day per contract is the long term average ROI. What fraction of the 6 and 1/2 hours the market is open does it take ES to move 1 point net?

    Start with what you want; it takes about 40 days to get to the point where you can take all of your initial capital out and still have what you started with in the market. Take it out and just trade on profits for the rest of your life.

    Buy a few policies along the way too and do somes tretch IRA's

    Use as much as you want as the time of day changes how much you can use before getting partial fills because of the activity level. Trading is unlimited, roughly speaking.

    Its not a military thing exactly. It is more a sports memory thing where stress is not what limits champions. Champions aren't limited by the field they play on either.

    What's the biggest amount of capital offered you for trading and what was the split offered?
  3. bighog

    bighog Guest

    Stress comes from screens also.....YIKES!!!!!!.....:D
  4. That sounds about right.

    Keep in mind that some days you won't make 1 point but on other days you could make 2 or 3.
  5. esmjb


    1pt as in 4 ticks in the ES? thats your goal? that doesnt make sense to me as a viable long term strategy to stay in the business. i think a trader needs to average a minimum of 10 ticks per day otherwise its not worth the risk...
  6. txuk


    Jack, thanks for raising this, I was unaware. My wife recently took out a term life policy for us and we just completed our medical exams. I'll look into this alternative and see if it is more suitable for us.

    Here is a decent summary...
  7. I think the most important goal for any trader is to "Trade and make money today"

    I follow that up with a specific earnings plan that will get me to my target. In it, I outline my strategy, the expectation for that strategy per day, a daily earnings target, and my projected monthly and yearly earnings. Based upon my current strategies, I project earnings of around $2600 per day.

    Next year, I hope to take my trading to a new level, and finally surpass the $1mm mark.
  8. i dasgree to buy anything but term. i sold insurance for 6 years and anyone who buys anything but term is a fool. a ul or vul is nothing but an increasing term policy with a savings conponent. buy a good 30 year level term and ionvest the difference. a good 30 year term policies cost of ins is much cheaper than the ins in a ul or vul
  9. I have 15 year term life insurance for me and my wife. Based upon my past 5 years performance coupled with some relatively conservative projections going forward, I estimate I will no longer need life insurance from then on.

    That being said, there are some interesting tax strategies that life insurance can offer, making them an attractive investment.
  10. I don't have a daily goal? I just try to take what the market gives and try to improve the path to profitability through excellence in trading...

    did I write that? (what a load of crap)

    Michael B.
    #10     Dec 6, 2005