20 points a day

i don't think doubling your positions would be the best way to go about increasing your position size..
imagine that, one day you're trading 4 contracts, and the next day, wham, 8. good for you if he have a good day, but, and i'm talking from experience here (stocks, not futures), if you hit a drawdown at the same time as you increased your position size it can be really painful; psychologically more than anything.

that's one of the biggest problems, imo, that the small futures trader faces: increasing size from 1 lots to 2 contracts, because he's just doubled his position size.
 
Sure you can have 20 points per contract on the occasional day... but I would guess that a long term point average for most successful emini traders would be in the range of 1-2 points day...
 
Quote from daniel_m:

i don't think doubling your positions would be the best way to go about increasing your position size..
imagine that, one day you're trading 4 contracts, and the next day, wham, 8. good for you if he have a good day, but, and i'm talking from experience here (stocks, not futures), if you hit a drawdown at the same time as you increased your position size it can be really painful; psychologically more than anything.

that's one of the biggest problems, imo, that the small futures trader faces: increasing size from 1 lots to 2 contracts, because he's just doubled his position size.
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A good plan is to increase contracts traded based on increased account size. Therefore as long as the trader maintains the same percentage stop loss on each trade his risk tolerance and psychology should not be effected.

I think its a mistake to rush it and increase contracts traded before the account size is large enough to maintain the same % stop loss per trade.

At least that was my experience.
 
I agree with him: don't listen to too much people, it will be too contradictory. Indicators or not indicators are not important, what is important is how you put everything into a simple FRAMEWORK for you ! I have my own framework, it suits me but I'm sure it will not suit everybody sure ! So WORK by YOURSELF STOP TRADING FOR A MOMENT AND THINK !

http://www.snailtrader.com/id5.htm


When I was first learning to trade, it was very difficult because it was so confusing. The amount of information on trading was overwhelming and dogmatic. Most ideas did make sense, but they were often in conflict with each other. Buy dips? Buy new highs? Cheap stocks? High flyers? Options? It was very difficult to reconcile. Additionally, not only did everyone I listen to have a different opinion, but they all sounded so authoritative! Who and what was I to believe? So although I studied and traded very hard I was unable to make money consistently because I didn't quite know what I was doing; my methods were so scattered. One day after another bout of frustrating losses, I remembered an old Japanese maxim:


"A garden is complete when there is nothing left to remove."


I decided at that point that my results were poor and diluted because I was listening to too many people and trying too many ideas, and that I needed to shut out the market and focus on the single thing that I felt would make me successful: myself. With this came a realization, and that was that most great traders trade different systems; hardly any of them trade the same. I should then focus not on their different systems, but their commonality.
 
There's some amazing scalpers on Paltalk. Particularly in ES/NQ, Woodie's and Bandtraders rooms. Their daily average points are very high, like 10+++. And rarely a losing day. Yup, sounds fantastic, but I believe it, cause they have no reason to lie. They are not selling anything, really nice people; they're mostly middle-aged and older folks. Their methods are pretty discretionary.
 
Quote from traderkay:

There's some amazing scalpers on Paltalk. Particularly in ES/NQ, Woodie's and Bandtraders rooms. Their daily average points are very high, like 10+++. And rarely a losing day. Yup, sounds fantastic, but I believe it, cause they have no reason to lie. They are not selling anything, really nice people; they're mostly middle-aged and older folks. Their methods are pretty discretionary.
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What is Paltalk?
 
http://www.paltalk.com

A collection of audio rooms for traders/groups of similar interests.

You can listen in and speak if you have a microphone. Share video if you have a camera thingy. Otherwise just read/ listen to the commentary, and type your reply if you have no mic.

:(
 
I don't know about 20 points a day, but i have been presonally tracking a system that has averaged over 10 points a day and with a reasonalbve margin for daytrading of say 2,000 you generally net close to 100% weekly.

So making consistent profits is doable - just need the disipline to trade the system and leave all personal beliefs out of the trading.
 
I read all this stuff about chart, indicators, etc. not being useful or leading to profits but i follow a very simple system using 2 indicators and consistently average over 10 points a day

so i KNOW real Profits are possible

Marielle
 
Quote from GD2KNO:

So making consistent profits is doable - just need the disipline to trade the system and leave all personal beliefs out of the trading.
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That's always the toughest thing, you will never cease outgessing your system. The solution: take a nap.:D If your systems are simple enough, you can always do it, if not make them simpler.

I cannot say I make 20 pts a day, I do have days with 20-30 pts a day, also have days with -12 pts a day (if two systems get it wrong...), but on the whole I can say that I trust them enough to make money: today over 10 pts, 10.5 to be precise. Could be worse....
 
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