Wow! All these people making upwards of 1% consistently per day. Where is Jack Schwager when you need him? Volumes 4 through 44 will comprise ET membership alone.
1% a day consistently: possible?
- Thread starter stephencrowley
- Start date
So I take it that you think it is not possible?
When most times people ask these types of questions, i.e. Is it possible?, the answer is always YES. Anything is possible.
The real question is can YOU YOURSELF do it? Who cares if it is possible.... If you can, then DO it. If not, then waste your dreams on Beyonce.
The real question is can YOU YOURSELF do it? Who cares if it is possible.... If you can, then DO it. If not, then waste your dreams on Beyonce.
Why don't you just run your system for a while using smaller position sizes and tell us about it? It sounds like you've taken care of the more comman gotcha's and it appears that there is sufficient headroom to accommodate for slippage and still be profitable. Once you have some real trade data you can compare that with (future) backtested results and have a better understanding of how close those backtested results compare with reality. At that point you can have a better idea what might happen if you crank up your trade size.
I don't know if *anything* is possible.. but, my main question was the fact that it seems from my results that I am doing it, and surely im not the first in the world to do it. So, it is somewhat of a sanity check... I plan to trade it live next week and see what happens.
And, why does that preclude me from still dreaming about Beyonce? I'm sure I can get her when this thing makes me millions.
And, why does that preclude me from still dreaming about Beyonce? I'm sure I can get her when this thing makes me millions.
I think there is a huge chasm between 1% (or even 3-5% a day) with 10% a day. For all of my travels through the street and funds, I have only seen one system that did about 10% a day for 3-4 months. But naturally, with the increased return comes increased risk, the system was doing extremely well day after day (think *averaging* 200k a day on a $1.8-2M book), then in a succession of 4 days, he was down about 1M, not a big deal since he had the previous P&L to cover. Then the edge got eroded after 6-9 months to the point that he was "only" doing 1-2% a day again. Interesting, if not a short lived model.
Sure 1% a day consistently is possible if you can stand the drawdown...I cannot do it, but anything is possible.
I average about 0.15% per day for 250 trading days plus an average of about 0.03% on the weekends which is the other 115 days...This is manual trading a combination of scalping and long term carries in Retail Spot Forex, with a bonus of positive interest carry profit. I use discretion and system trading in unison.
In Retail Spot Forex, liquidity for retail traders is not a problem, so the amount of initial capital that I trade with is not important.
To achieve my results I have not exceeded 5:1 leverage (out of a possible 50:1) and my drawdown has not exceeded 8% so far (currently over the weekend I am at 3.05:1 leverage and am at -2.38% drawdown).
Michael B.
I average about 0.15% per day for 250 trading days plus an average of about 0.03% on the weekends which is the other 115 days...This is manual trading a combination of scalping and long term carries in Retail Spot Forex, with a bonus of positive interest carry profit. I use discretion and system trading in unison.
In Retail Spot Forex, liquidity for retail traders is not a problem, so the amount of initial capital that I trade with is not important.
To achieve my results I have not exceeded 5:1 leverage (out of a possible 50:1) and my drawdown has not exceeded 8% so far (currently over the weekend I am at 3.05:1 leverage and am at -2.38% drawdown).
Michael B.
Quote from stephencrowley:
I don't know if *anything* is possible.. but, my main question was the fact that it seems from my results that I am doing it, and surely im not the first in the world to do it. So, it is somewhat of a sanity check... I plan to trade it live next week and see what happens.
And, why does that preclude me from still dreaming about Beyonce? I'm sure I can get her when this thing makes me millions.
Well, good luck with going live. The real market (for me at least) proves that my paranoia are usually false, but would hit me where I least expected. Going live is a big first step, then comes the usuall paranoia and greed.
What kind of strategies do they trade? Can you talk a little about that?
nitro P.S. it is possible if it is not compounded - only the very best can return those numbers consistantly on an account that is > $50K using 4:1 [retail] intraday leverage, i.e., $200k intraday leverage assuming $50k of your money is in the account. So 1% intraday return on $200K capital used intraday would be $2000 a day. Commissions play a HUGE part for me.
Returns are a very slippery thing. In futs you can put down $5k with a broker and control 1 YM, or approximately $50K worth of an instrument. That is 10:1 leverage. On the other hand, equities only give you 4:1. So be careful how you do your numbers.