$2000 Daily...? Anyone?

[EminitraderDM]

Quote from psychonin:

It's achievable if you do not strictly aim for 3 points a day, but trade so your winners - losers = 3 points a day over the long run.

$15K is just enough money for 3 contracts but if I were you, I would focus on trading a single contract right now.

3 contracts!! what is it per contract? I assumed the E-mini was $1000 per contract?

 

[psychonin]

Quote from EminitraderDM:

3 contracts!! what is it per contract? I assumed the E-mini was $1000 per contract?

I don't know where you got your figures from, but right now the ES overnight margin is a little over 5k a contract. Some brokers offer lower margins intra-day but I don't think you want to take such risks.

 

[joemiami]

Ive been trading ES for 2 yrs now. If you cant do at least 2-3 points per day, then you should either practice and/or rethink your strategy on a simulator like I did when I first started learning the ES market. Learning price movement in relation to volume and pivot points are the biggest keys to my success. Good luck to you...

And dont use too much margin when you start out..usually no more then one contract per every $5000.00...and use hard stops.

Most ppl use 1 min charts,,,others use 2,3,5, 15 and so one. (I use 3, 10, 30) The larger the time frame the bigger your stop placement should be from entry.

 

[EminitraderDM]

Quote from psychonin:

I don't know where you got your figures from, but right now the ES overnight margin is a little over 5k a contract. Some brokers offer lower margins intra-day but I don't think you want to take such risks.

Here, is this accurate?

http://www.unitedfutures.com/emini.html

 

[psychonin]

Quote from EminitraderDM:

Here, is this accurate?

http://www.unitedfutures.com/emini.html

No, look at the official CME website:

http://cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightEQ.htm?h=2

Look at E-mini S&P. The current initial margins for the ES contract is $5,603.

 

[EminitraderDM]

Quote from psychonin:

No, look at the official CME website:

http://cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightEQ.htm?h=2

Look at E-mini S&P. The current initial margins for the ES contract is $5,603.

That is quite expensive...
Shouldn't I just trade something less expensive to hold like the SMC?

 

[spanish89]

Quote from trimble:

You do not want to even think about calling my bluff!!! you see how many posts I have on this worthless site. I come here when I'm bored to read stupid crap. I do not want to get into all the stupid proof etc.. Because no matter what I dont care what anyone thinks on this site. If I showed statements, tax returns on this site it would not matter. I don't come here to brag b/c I dont need affirmation from anyone here. I know what I do and can prove it. But why???? I'm not selling anything, nor do I have another motive etc.. I was one of the first remote traders on the TT trading platform in late 99-2000, I have a direct T-1 line from my trading office into the CME/CBOT builidng this technology alone cost me 7k per month. I own two seats on the CME one is a GEM seat and the other is an IOM. I pay under 10cents per contract b/c of my volume. If you can't recognize that I'm a professional trader than sorry my friend. Good luck

Who are you hooting at mate?? LOL

 

[trimble]

Osorico was saying I'm a bluffer.... got to go buddy good luck

 

[austinp]

<i>"It seems the best strategy is to preserve your capital, learn all you can about the fundamentals and jump in head first with 1 contract. Am I correct?"</i>

Nope... not even remotely close.

<i>"The best way to learn is the hard way. In this business there is no other way."</i>

All of it is the hard way. There is no easy way... just faster or slower ones. If you mean thru trial & error aka the school of hard knocks, prepare to spend five or six-figures on your complete education.

 

[EminitraderDM]

Quote from trimble:

Osorico was saying I'm a bluffer.... got to go buddy good luck

Thanks!