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David, I agree with your post. But the benefits of TST is: 1. Forces a trader to be discpline with tight drawdown requirements. They paying monthly, so its real emotions. 2. A trader is taking a risk of paying for the combine for about a year, versus using his own tight drawdown ($1500...

David Gr, I think I understand your point. And you may have a valid one. Correct me if I am wrong below if this is what you mean? So, what you are stating is: If a trader system/strategy can be traded with $2000 capital (not including margin of $800) why go to TST to trade? Why the trader...

David Gr, I appreciate your comments. I understand I need $800 of margin to trade the /ES, with 2 contracts. Where will I get the $5800 ($5000 + 800 = $5800) in capital I need to trade my system? Thanks,

You're welcome DougStewart, Well, from my screen name you see Simple. I love simplicity. And from my simple thinking and many lessons learned I have experienced, starting with 1 contract makes alot of sense. Why risk more money on something they may not work? The only issues with trading 1...

Hello DougStewart, Hijack my threads anytime you like. For position, in my opinion, i would start with 1 contract to make sure your trading method works and can produce consistent money for about a year or longer or shorter. Once you double your money with 1 contract. Take that money put in...

iamnewuser911, Most experienced traders will recommend not trading during economic data release because your trading strategy may not technically work for this big volume price movement of the day. I personally do not trade during the news times, however, I have trade to trade during news days...

Robert, I agree and its common sense to me in its simplicity. Day trading is for income. But for investing for the older years, this money should be in Index fund, no ifs and buts about it. This is why I stop trading stocks. It makes no sense to try and beat the S&P 500 when you can just buy...

You are correct. If you are an investor and trading stocks and can't beat the S&P 500, just invest in Vanguard Total Market Index fund and enjoy life. Day trading is just extra income.

Thanks pauljherrera, You are correct, it is impossible. I was incorrect by projecting a daily target of $150 because I have no evidence to show that this is possible because I have not back test my system to determine if $150 per day is even possible 80%, 70%, 60% of the time. I have no idea...

Morning Xela and thanks, I am happy someone agrees with me. I will let the system back testing results provide me statistical evidence of what my profit targets can provide. Rather then me telling the system what I want in profits that may not be achievable. This thinking may seem simple to...

trade5656, You may think the post here is depressing, but I love ET forum. Why I love it? Because I am gaining knowledge how to make income to feed my family from experienced traders who is serious about this business. It does not matter what some other trader is doing to make money, what...

Thanks systematictrader, This a good discussion. So let me make sure I understand you correctly regarding back testing a system and analyzing its performance and determining how much money it can make in the future. 1. Back test a strategy exactly how I plan to mechanically manual trade it...

Thank you systematictrader, You are right and after some thought. It's sooooo easy for an intra day trader to get caught in the daily profit goal. When in fact, your system sets the P/L from the day, not the trader. The trader is just an execution. Trader job is to take trades unemotional...

Thank you Xela, Appreciate your response. And to be honest with you, setting Yearly Monthly Weekly profit seems very challenging and complex when trying to match that with your system expecatations. I rather just trade all trades for my 8 to 11am window following the rules and forget the...

Thanks algofy, I appreciate the response and confirmation of what I need to do. Thanks

Hello, I spend 2 hours reading threads on "setting daily profit goals" I concluding the follow for my problems and how daily goals without proof of outcome can lead to issues. I hope my problems help someone else. Please respond with if you agree or not to my logic regarding setting daily...

Hello jk90029, That sounds to complicated for me. I rather keep it simple. I don't know much, but I do know to keep it simple and risk as little as possible in any business. For me, I'm trading 1 contract until initial investment ($10k or so) is back in my savings account where it belongs...

Hello jk90029, I am sorry for your friend. For me, it will be a cold day in hell before i lose $400K trading, heck I am not losing more then time now. The most i lose so far in the past 4 years is $6K. I will paper trade until my eyes fall off or turn wrinkle before I put my hard earn money...

Thanks you systematictrader, I agree with you stated. If signal occurs, take based on prior system performance. It's simple to me now once I understand. However I want to trade the system with my hard earn real money, i better back test it that same way. Thanks

Thanks Turveyd, So do you agree that a system should be backtested and forward live traded exactly how it was backtested for, with no personal unproven deviation from the backtested performance results? Just curious on your thoughts.