5% - 10% profit per day trading
- Thread starter spanish89
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ALoha guys,
ok im gna focus more on getting this forum back to just trading,
not gna comment on my views about anyone elses personal life, no matter what i think!
K for your question about fx usman,
It is quite easy to trade but only as long as you are really really ok pyschologically to handle trading as a trend chaser,
and having to wait a few hours often to make 100+pips.
The best pair to trade is aud/usd i would say (i trade it occasionally), since its only 4digits, so you can trade it without having to use more than a 2digits stoploss.
And all you have to do is just 'only go long on aud', since everyone is just waiting till the dollar snaps back from its strength-crash since july,
so you can just pick off aud/usd at its lows on a daily/weekly basis, and hold for a few hours t few days for 150 t 300pips.
I havent checked oil yet as was sleeping since lunchtime cos was sick a few times cos my illness is getting worse...
But i heard that api inventories got a build of 8million barrels?? :eek:
ok im gna focus more on getting this forum back to just trading,
not gna comment on my views about anyone elses personal life, no matter what i think!
K for your question about fx usman,
It is quite easy to trade but only as long as you are really really ok pyschologically to handle trading as a trend chaser,
and having to wait a few hours often to make 100+pips.
The best pair to trade is aud/usd i would say (i trade it occasionally), since its only 4digits, so you can trade it without having to use more than a 2digits stoploss.
And all you have to do is just 'only go long on aud', since everyone is just waiting till the dollar snaps back from its strength-crash since july,
so you can just pick off aud/usd at its lows on a daily/weekly basis, and hold for a few hours t few days for 150 t 300pips.
I havent checked oil yet as was sleeping since lunchtime cos was sick a few times cos my illness is getting worse...
But i heard that api inventories got a build of 8million barrels?? :eek:
Hi everyone,
For weeks I noticed this thread on ET's front page and I finally decided to check it out. Glad I did. Skimmed over a lot of it and I must say: great trading porph, blackjack, spanish and others.
I just opened an account with market index (abn/rbs) and in keeping with the theme of this thread, tried my hand at trading crude. I normally trade index futures (mostly the mini S&P). Although, I will trade anything and everything if I feel compelled to.
Had classes most of the day, so I could only trade when I had a chance. I've attached a screen shot of my trades.
Made a total of 63 ticks today from crude from quick trades.
EDIT: BTW, I am on Eastern Standard Time...(I am British though...just living among the yanks for uni )
For weeks I noticed this thread on ET's front page and I finally decided to check it out. Glad I did. Skimmed over a lot of it and I must say: great trading porph, blackjack, spanish and others.
I just opened an account with market index (abn/rbs) and in keeping with the theme of this thread, tried my hand at trading crude. I normally trade index futures (mostly the mini S&P). Although, I will trade anything and everything if I feel compelled to.
Had classes most of the day, so I could only trade when I had a chance. I've attached a screen shot of my trades.
Made a total of 63 ticks today from crude from quick trades.
EDIT: BTW, I am on Eastern Standard Time...(I am British though...just living among the yanks for uni
)Soz to hear about your bad luck btw leemeeplay with you taking loss near the low of the day...
Its a mind-fuck. :/
Anyone managed to carve any profit of of todays sideways movement though??
At the moment there is a substantial amount of floating storage. With the Baltic Dry Index at all time lows and crude futures in contango, big traders are buying spot crude, leasing cheap tankers to store it in, and selling the futures contracts.
So i will try focusing more on selling at reversals after big spikes,
instead of buying the reversals at intra-day dips.
And i would also suggest everyone to maybe also start looking at trading gold abit while oil is being so shit,
as with gold its just a case of 'only buying', so just nailing it at the intra-day / week lows when you see it making reversal formations.
Its a mind-fuck. :/
Anyone managed to carve any profit of of todays sideways movement though??
At the moment there is a substantial amount of floating storage. With the Baltic Dry Index at all time lows and crude futures in contango, big traders are buying spot crude, leasing cheap tankers to store it in, and selling the futures contracts.
So i will try focusing more on selling at reversals after big spikes,
instead of buying the reversals at intra-day dips.
And i would also suggest everyone to maybe also start looking at trading gold abit while oil is being so shit,
as with gold its just a case of 'only buying', so just nailing it at the intra-day / week lows when you see it making reversal formations.
Quote from x2012:
Hi everyone,
For weeks I noticed this thread on ET's front page and I finally decided to check it out. Glad I did. Skimmed over a lot of it and I must say: great trading porph, blackjack, spanish and others.
I just opened an account with market index (abn/rbs) and in keeping with the theme of this thread, tried my hand at trading crude. I normally trade index futures (mostly the mini S&P). Although, I will trade anything and everything if I feel compelled to.
Had classes most of the day, so I could only trade when I had a chance. I've attached a screen shot of my trades.
Made a total of 63 ticks today from crude from quick trades.
EDIT: BTW, I am on Eastern Standard Time...(I am British though...just living among the yanks for uni
Aloha mate, im glad you like the thread...
Glad to have you join the little community rhat we have built-up here...
(I try to aslo add a touch of entertainment to it, since well i cant go into the details, but its just a condition that allows me to keep the thread as 1 of ET chosen sublinks on google search results.)
How long you been trading for mate?? And what style/stratergy of trading do you use??
P.S I just have to say, extremely welldone managing to scalp 63ticks from oil today, especially with about 6ticks spread, as that is nearly the entire range for the day and the intraday movement would have been a total nightmae to trade! :eek:
So seriously nicely done mate.
Quote from spanish89:
How long you been trading for mate?? And what style/stratergy of trading do you use??
P.S I just have to say, extremely welldone managing to scalp 63ticks from oil today, especially with about 6ticks spread, as that is nearly the entire range for the day and the intraday movement would have been a total nightmae to trade! :eek:
So seriously nicely done mate.
Cheers mate...got interested in trading 2 summers ago. Spent as much time as possible in front of the screen getting a feel for the market. Been trading more often (and seriously) for the few months.
As for my trading style, judging from what I've read about how porph trades, I'd say my style is very very similar to his. But it also seems like the way blackjack trades as well when it comes to scalping.
Range days or trend days dont bother me. I've adapted my style to suit both types of days.
Shorted Eur/USD a little bit ago at 1.3001. Up 34 ticks at the time of writing.
BTW: I see at least 4 more times after I grabbed those 63 ticks that I would have traded had I been at my screen...oh well. no room for 'if's or 'but's or 'could've' in trading.
http://www.trade2win.com/boards/general-trading-chat/41616-spanish89-78.html
I was looking at this thread, but can i just ask what the actual 'desk fee' they try to charge you is???
And what is this actually for??
Cos if its just for reuters news and a load of complex pintless charts is it possible for me to just decline the need for them??
Since while i wouldnt mind them for free, they are a waste of time, and i can trade fine without them, so have no reason to waste my money on them when i will simply use igindex's chart anyways at whatever firm i get a job at,
and would be happy to keep my ransquawk service.
But at the end of the day either they will look at my profit record for the last 6months,
see that i know how to consistently make money trading and am not some newbie graduate who they need to spend a year training up and teaching the basics of how to identifiy relevant support n resistance levels and trend lines,
and want to have me work for them to make them money,
so be willing to not charge me desk fees for a few months atleast (or just deduct it form my starting capital that tehy would give me) since i dont have spare money lying around for that.
Or they wont like me / wont be willing to not charge me desk fees,
and so il just continue applying to other firms till i eventually get in to one.
I was looking at this thread, but can i just ask what the actual 'desk fee' they try to charge you is???
And what is this actually for??
Cos if its just for reuters news and a load of complex pintless charts is it possible for me to just decline the need for them??
Since while i wouldnt mind them for free, they are a waste of time, and i can trade fine without them, so have no reason to waste my money on them when i will simply use igindex's chart anyways at whatever firm i get a job at,
and would be happy to keep my ransquawk service.
But at the end of the day either they will look at my profit record for the last 6months,
see that i know how to consistently make money trading and am not some newbie graduate who they need to spend a year training up and teaching the basics of how to identifiy relevant support n resistance levels and trend lines,
and want to have me work for them to make them money,
so be willing to not charge me desk fees for a few months atleast (or just deduct it form my starting capital that tehy would give me) since i dont have spare money lying around for that.
Or they wont like me / wont be willing to not charge me desk fees,
and so il just continue applying to other firms till i eventually get in to one.
Or they wont like me / wont be willing to not charge me desk fees,
and so il just continue applying to other firms till i eventually get in to one.
There arent that many prop firms around london.
Either you go in as trainee and they train you and back you and even pay you £500 a month expenses for a while. As a trainee candidate you will be competing with 100s of other people. Alot of those will have university degrees. And most will probably be much better than you in the Maths test they give to trainees.
Or you go in as experienced. In this case you will need to put some of your own money up and also pay a monthly desk fee, even if you dont want to pay for software/data etc they will still charge you desk rent as office space is not free. The desk rent wont be cheap either. Probably more than the rent you pay on your flat.
Im not sure about the details of what can/cant be included for you if you join through the experienced trader rote, as their website is especially clear about it.
But i will discuss it with them once i hoepefully get invited to the interview.
Cos their website just shows that you can join as a trainee uni grad,
So basically you have gone to uni and got a degree and are interested in the stockmarket and learning how to become a trader for your career,
but you not at the skill level where you can make a living off doing it independantly yourself,
so you can doing about 9months training and with them where they will teach you the basics and then you get your real money account with them and see if you can last a few weeks - months making money.
Or if your already skilled and experienced at trading for a living
you can join through the 'experienced traders' route.
Their website say 'Futex offer training and backing to experienced traders',
and Dante told me that i would just go down the same route that he did, when you just pass the basic maths test and stuff, and hope they like you at the interview,
then they put you on sim for 3months (your on £400 per month during this time + i can trade from my own account too),
and as long as you are profitable on a weekly basis for 2 t 3months then they give you some decent starting capital and your on 50% of the profit you make.
I looked through my p/l history yesterday cos needed it for cv and i calculated ive been earning an average of £6,059 profit per month,
from average capital base of £6,000.
So if i can get about 40k starting capital, less market volatility now and il be taking lower risks too,
but from 40k it wouldnt be too hard to average about 6k profit per month.
No-point getting over excited till i actually get a job in a firm though.
So back to the market now...
Is anyone actually trading today though?? lol
As im very glad i have taken these last 2days off as the movement has been disgraceful.
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