5% - 10% profit per day trading

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Quote from spanish89:

Aloha, ive seen so so many people saying that its impossible to even make 10% profit per month trading, some even say 10% a year is something to celebrate....
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Hola, I am glad for you that your system is currently generating a good return for you. Take what the market gives you and be happy with that. Daily targets are nice as averages, but tend to inject emotion into trading decisions.

You will see plenty of controversy on ET if you post long enough. You do not have to be part of dillatory arguments, but you will need to grow thick skin to stay here.

I trade futures and net 100% per week on average, so I know it can be done. Stick with your system and ignore people with criticism that fails to increase your profit.

As Anekdoten pointed out, the size and liquidity factor becomes a limiting one once you start trading large. That is why I prefer more frequent but smaller distributions from my account rather than less frequent but larger ones. The size is simply easier to manage, there is less staring at the 'filled' column and a losing day hurts less emotionally.

As for the suggestion to start a chat room or sell your signals, I advise against it because I trade in size at times, and would not want someone else or a group taking away my liquidity, especially when trading size close to the limit of reasonable success, considering slippage. Also, I do not have the need for other people's trading capital and have no personal need for an audience. I enjoy the P&L smile more than any other aspect of trading. In my opinion, people who host trading rooms and signal services are not successful enough in their own trading to warrant my subscription.

Congratulations on your initial success.
 
Today's closed trades (Full Trade History)
Contract Order # Date/Time Buy/Sell £/tic Tic Size Price Profit/Loss
NymexCrude Sep Fut - 20 Aug, 08
NymexCrude Sep Fut - 20 Aug, 08 5591479 14/08/2008 18:23 Sell 2 0.01 113.70
NymexCrude Sep Fut - 20 Aug, 08 5591508 14/08/2008 19:24 Sell 1 0.01 115.00
NymexCrude Sep Fut - 20 Aug, 08 5592540 15/08/2008 09:12 Buy 2 0.01 112.99 £142.00
NymexCrude Sep Fut - 20 Aug, 08 5592540 15/08/2008 09:12 Buy 1 0.01 112.99 £201.00


Took £342 within 60seconds of waking up today due to the trades i placed lastnight! :D
 
Quote from LoveMySystems:

Hola, I am glad for you that your system is currently generating a good return for you. Take what the market gives you and be happy with that. Daily targets are nice as averages, but tend to inject emotion into trading decisions.

You will see plenty of controversy on ET if you post long enough. You do not have to be part of dillatory arguments, but you will need to grow thick skin to stay here.

I trade futures and net 100% per week on average, so I know it can be done. Stick with your system and ignore people with criticism that fails to increase your profit.

As Anekdoten pointed out, the size and liquidity factor becomes a limiting one once you start trading large. That is why I prefer more frequent but smaller distributions from my account rather than less frequent but larger ones. The size is simply easier to manage, there is less staring at the 'filled' column and a losing day hurts less emotionally.

As for the suggestion to start a chat room or sell your signals, I advise against it because I trade in size at times, and would not want someone else or a group taking away my liquidity, especially when trading size close to the limit of reasonable success, considering slippage. Also, I do not have the need for other people's trading capital and have no personal need for an audience. I enjoy the P&L smile more than any other aspect of trading. In my opinion, people who host trading rooms and signal services are not successful enough in their own trading to warrant my subscription.

Congratulations on your initial success.
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Did you mean 10% average per week...not 100% per week. I feel your comments are right on the mark.
 
Quote from jonbig04:

IMHO...

Percents are arbitrary. I don't think comparing percents is a very apples to apples kind of deal, but thats just my opinion.

Good luck trading and with your targets!
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I agree, lets stick to figures. A lot clearer for everyone to follow then

Congrats though you seem to be on a good streak.
 
lol

Figures are important, as cash is cash at end of the day.
And i cant pay for stuff with %s.. lol

But £ isnt actually really meaningful unless you view it as a % though.


Since the big bankers who are given millions n millions of quid of the banks money to play with, even if they earnt £10,000 per day profit, if they have an account of £10million, that 10k is extemely poor performance.

But if its a guy like me, 18years old, with an account of 4k, which is all the money i have in the world, none in my bank account even,
the money will only be in the £100s per day, but as a % is is way way better performance tahn any of the top bankers are managing, even when they have such a stronger and safer position so can take far more risks with their money. :D ;)



And this ''streak'', isnt just a temporary streak mate. lol
If it is it must be the longest 'streak' ive ever heard of! ;)

I dont earn this much money by luck or chance though, i earn it by just using all the skills ive learnt, using logic, and cashing in on the market flows each day, no matter how the market is doing each day.
 
IVE POSTED BELOW AN ARTICLE I WROTE A FEW WEEEKS AGO TO TRY AND HELP OTHER TRADERS LEARN FROM THE MISTAKES THAT I MADE WHEN I 1ST STARTED,
AND TO NOW ALSO LEARN ABOUT HOW IM MAKING SO MUCH MONEY SO CONSISTENTLY NOW.

Since i dont have a ''system'', since the markets cannot be mapped by a system as 'the market is people'.

(Soz about capitals, i dont know how to write in bold on here though)

________________________________________________


How do you actually view the markets??

Not how you think you view them or would like to view them, how in actual practise when trading are you viewing them??


Do you view them as a sort of advanced gambling circuit??

Where your stoploss is 'your bet stake', and any profit you make is 'you winnings, and if you got in at the wrong time in the wrong direction for that time your 'bet stake' is taken away from you as the loss.


OR


Do you view them as an actual real physical market-place??

Where your 'purchase contracts' for a certain price (the spread price), these contracts say you can buy or sell that product at the price on the contract, and so you purchase these contracts depending on the direction in which you think the market for that produc is going to head over the next few minutes/hours/days.

And then hold that contract in your hand till you can cash it in for profit, or if you think the market is infact now going to continue going the opposite way for quite a long time before it goes in your favor you just get rid of that contract as quick as possible for a loss and get a contract for the other direction instead.



Most people who now trade online do infact view the market as the 1st option when they are actually trading, even if they dont intend to, since that is the way the market is layedout and portrayed online.

And i believe that this is the reason why most newbie traders lose lots n lots of money in lot of little trades to start with, and then many traders who may have been trading for many many years but not done well at all even after all those years still continue to lose lots of money in these little trades...

As they actually are subconciouslly automatically viewing the markets online as a gambling circuit, using the stoploss as their 'Bet stake', and then just hoping that tht stake doesnt get touched and taken out in the future before it goes in their favour.



I will probably expand in more detail on this, as i feel it could seriously benefit ALOT of traders out there, but what is everyone elses view on this pyschological aspect to how people ae now trading online??




(Btw i would just like to state that im not trying to preach and convert everyone to using my style n method of trading, since at the end of the day everyone's trading with their own money, and i do understand alot of people do not feel safer using a giant stoploss instead of a tight/medium one, and os i dont try forcing anyone to use one.)



This topic is more to try and get people thinking about how they are actually viewing this 'market' that they are trading on.
 
Today's closed trades (Full Trade History)
Contract Order # Date/Time Buy/Sell £/tic Tic Size Price Profit/Loss
Nymex Crude Oil - Daily
Nymex Crude Oil - Daily 5594949 15/08/2008 15:14 Buy 2 0.01 112.20
Nymex Crude Oil - Daily 5594985 15/08/2008 15:20 Sell 2 0.01 112.16 £-8.00
NymexCrude Sep Fut - 20 Aug, 08
NymexCrude Sep Fut - 20 Aug, 08 5591479 14/08/2008 18:23 Sell 2 0.01 113.70
NymexCrude Sep Fut - 20 Aug, 08 5591508 14/08/2008 19:24 Sell 1 0.01 115.00
NymexCrude Sep Fut - 20 Aug, 08 5592540 15/08/2008 09:12 Buy 2 0.01 112.99 £142.00
NymexCrude Sep Fut - 20 Aug, 08 5592540 15/08/2008 09:12 Buy 1 0.01 112.99 £201.00
NymexCrude Sep Fut - 20 Aug, 08 5592804 15/08/2008 09:47 Sell 1 0.01 112.81
NymexCrude Sep Fut - 20 Aug, 08 5592927 15/08/2008 09:47 Sell 1 0.01 112.81
NymexCrude Sep Fut - 20 Aug, 08 5592927 15/08/2008 10:19 Buy 1 0.01 0.00 £Stop Loss Move
NymexCrude Sep Fut - 20 Aug, 08 5593699 15/08/2008 13:51 Sell 2 0.01 113.66
NymexCrude Sep Fut - 20 Aug, 08 5594514 15/08/2008 14:31 Buy 2 0.01 113.20 £92.00
NymexCrude Sep Fut - 20 Aug, 08 5594708 15/08/2008 14:48 Buy 1 0.01 112.84 £-3.00
NymexCrude Sep Fut - 20 Aug, 08 5594716 15/08/2008 14:49 Sell 1 0.01 112.52
NymexCrude Sep Fut - 20 Aug, 08 5594729 15/08/2008 14:51 Buy 1 0.01 112.46 £6.00
NymexCrude Sep Fut - 20 Aug, 08 5594885 15/08/2008 15:08 Sell 2 0.01 112.54
NymexCrude Sep Fut - 20 Aug, 08 5594914 15/08/2008 15:10 Buy 2 0.01 112.49 £10.00
NymexCrude Sep Fut - 20 Aug, 08 5595234 15/08/2008 16:40 Sell 2 0.01 112.46
NymexCrude Sep Fut - 20 Aug, 08 5595601 15/08/2008 16:54 Buy 2 0.01 112.22 £48.00
NymexCrude Sep Fut - 20 Aug, 08 5595625 15/08/2008 17:00 Sell 2 0.01 112.38
NymexCrude Sep Fut - 20 Aug, 08 5595632 15/08/2008 17:00 Sell 2 0.01 112.38
NymexCrude Sep Fut - 20 Aug, 08 5595632 15/08/2008 17:02 Buy 2 0.01 0.00 £Stop Loss Move
NymexCrude Sep Fut - 20 Aug, 08 5595666 15/08/2008 17:12 Buy 2 0.01 0.00 £Stop Loss Move
NymexCrude Sep Fut - 20 Aug, 08 5595666 15/08/2008 17:00 Sell 2 0.01 112.38
NymexCrude Sep Fut - 20 Aug, 08 5595738 15/08/2008 17:39 Buy 2 0.01 112.12 £52.00
NymexCrude Sep Fut - 20 Aug, 08 5595743 15/08/2008 17:40 Sell 3 0.01 112.07
NymexCrude Sep Fut - 20 Aug, 08 5595771 15/08/2008 17:52 Buy 3 0.01 111.78 £87.00



(After an extreemly annoying situation when my laptop broke and i had to phone up dell technical support line and go through over an hour long process of fixing it, so i missed out on over £300 because of this!!)



I closed today with a profit of £627, from an account that had just £4,253 this morning thats over 15% profit today!! :D

And my account now has £4,880 capital in it, and a clean portfoilio as dont want to sell oil over the weekend. ;)
 
son I suggest you trade QM or USO

or be willing to lose all your funds fast one day

crude oil or nat gas or most any futures market is
quite dangerous indeed for a rookie

good luck to you

if you have a distinct "edge"
and do not blow up
you have a chance to turn that acct into
£200,000 in the next few yrs just be patient
and concentrate on the doing the job well
and the money will take care of itself

:cool:
 
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