5% - 10% profit per day trading

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LoveMySystems,

what sort of risk:reward do you have a a sytem that produces 100% per week? Are you also risking about 100% of your capital?

thanks,

Walt

Quote from LoveMySystems:

Actually no, I didn't mean 10% per week.
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Quote from jones247:

Are you also risking about 100% of your capital?
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Never. I saw a youtube video yesterday of some chat room trading guru who did that and watched him go mad. $25,000 gone. Maybe you have seen it.
 
Quote from LoveMySystems:

Never. I saw a youtube video yesterday of some chat room trading guru who did that and watched him go mad. $25,000 gone. Maybe you have seen it.
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LOL

I seen a few of those videos before.

How much was the guy doing per pip though in relation to the size of his stoploss??
 
Quote from BeatingtheSP500:

100% per week will get you the world in a year. Perhaps a *true* master of the universe in 5.
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You can only compound for so long. Theories of compounding forever are fantasy. You must take profit distributions when you max your # of cars per trade, which I do. Size has its limits, and I dont trade instruments with huge volume like the ES.
 
Quote from spanish89:

LOL

I seen a few of those videos before.

How much was the guy doing per pip though in relation to the size of his stoploss??
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I don't know who he was (or if he even still has a chat room or is still trading), but it appeared he traded without any stop loss. Fool.
 
Quote from LoveMySystems:

Never. I saw a youtube video yesterday of some chat room trading guru who did that and watched him go mad. $25,000 gone. Maybe you have seen it.
More...

Link? I'm in a schadenfreude kind of mood :D
 
Attached is a ditty I've posted before... A "what-if" workbook, to play with DAILY profit percentage based on 20 trading days in a month.

When I've traded small accounts ( <= 5K ) I've used 8% as the daily "goal". Successfully I might add. A goal does not mean it's met everyday, but if you know what you are doing, the goal can become the daily average over a month.

As has been mentioned, these daily percentage returns incur the wrath of diminishing returns as account size increases. A "key" to consistently achieving high daily profits is to reset (aka. make a withdraw) the account to a "workable" level each month. This is also a major reason why comparing a 5 or 6 digit day-trader account against a 7 or 8 (or 9) digit account is pointless... 2% of 10M is 200K a day, 10% of 20K is 2K per day. Both are realistic, dependent on the comptroller.

Anyway, OP, keep us posted.

Osorico
 

Attachments

Quote from spanish89:

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 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



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Why does the second entry above show a time of 17:00, which is obviously earlier than the previous entry of 17:12? Every other entry on your trade log shows a progressively later time in relation to the previous trades.
 
Quote from wareco:

Why does the second entry above show a time of 17:00, which is obviously earlier than the previous entry of 17:12? Every other entry on your trade log shows a progressively later time in relation to the previous trades.
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Aloha mate, i just checked and i honestly dont know why they lay it out like that.
I checked my trade histsory for that day and they aslo did that at 9.47am when i moved a stoploss.


Ive posted the closest i know how to get to a screen shot below,
just to prove that im not just like a really really sad sad loser who makes up numbers to try and show off or anything like that!! LOL



Trade History
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Trade History
From Day 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Month 01 02 03 04 05 06 07 08 09 10 11 12 Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 To Day 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Month 01 02 03 04 05 06 07 08 09 10 11 12 Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Contract ID Status Order # Date/Time Buy/Sell £/Tic Price Profit/Loss
Nymex Crude Oil - Daily
20020 Open 5594949 15/08/2008 15:14:00 Buy 2 112.2
20020 Closed 5594985 15/08/2008 15:20:00 Sell 2 112.16 £-8.00
NymexCrude Sep Fut - 20 Aug, 08
20018 Open 5591479 14/08/2008 18:23:00 Sell 2 113.7
20018 Open 5591508 14/08/2008 19:24:00 Sell 1 115
20018 Closed 5592540 15/08/2008 09:12:00 Buy 2 112.99 £142.00
20018 Closed 5592540 15/08/2008 09:12:00 Buy 1 112.99 £201.00
20018 Open 5592804 15/08/2008 09:47:00 Sell 1 112.81
20018 Closed 5592927 15/08/2008 10:19:00 Buy 1 0 £Stop Loss Move
20018 Open 5592927 15/08/2008 09:47:00 Sell 1 112.81
20018 Open 5593699 15/08/2008 13:51:00 Sell 2 113.66
20018 Closed 5594514 15/08/2008 14:31:00 Buy 2 113.2 £92.00
20018 Closed 5594708 15/08/2008 14:48:00 Buy 1 112.84 £-3.00
20018 Open 5594716 15/08/2008 14:49:00 Sell 1 112.52
20018 Closed 5594729 15/08/2008 14:51:00 Buy 1 112.46 £6.00
20018 Open 5594885 15/08/2008 15:08:00 Sell 2 112.54
20018 Closed 5594914 15/08/2008 15:10:00 Buy 2 112.49 £10.00
20018 Open 5595234 15/08/2008 16:40:00 Sell 2 112.46
20018 Closed 5595601 15/08/2008 16:54:00 Buy 2 112.22 £48.00
20018 Open 5595625 15/08/2008 17:00:00 Sell 2 112.38
20018 Open 5595632 15/08/2008 17:00:00 Sell 2 112.38
20018 Closed 5595632 15/08/2008 17:02:00 Buy 2 0 £Stop Loss Move
20018 Closed 5595666 15/08/2008 17:12:00 Buy 2 0 £Stop Loss Move
20018 Open 5595666 15/08/2008 17:00:00 Sell 2 112.38
20018 Closed 5595738 15/08/2008 17:39:00 Buy 2 112.12 £52.00
20018 Open 5595743 15/08/2008 17:40:00 Sell 3 112.07
20018 Closed 5595771 15/08/2008 17:52:00 Buy 3 111.78 £87.00


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