5% - 10% profit per day trading

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Spanish89 (the real one)
You have done well in turning 700 into 5000+

I was lead to believe that you trade without stops but you appear to be taking some small losses on some of your trades?

Obviously, when trading without stops it is perfectly normal to accheive the success you have so far, because you would be risking the hwole account on each trade whilst looking for just a small profit and at some point a run/trend would wipe you out. You could argue that it doesn't matter because you are now effectively playing with 'the houses money' but at the end of the day its the difference between playing for beer money and doing it for a career.

Either way, you appear to be calling the market well each day. Kudos on that.

Take it You cleaned up today?

Good luck

Candles
 
Quote from candles:

Spanish89 (the real one)
You have done well in turning 700 into 5000+

I was lead to believe that you trade without stops but you appear to be taking some small losses on some of your trades?

Obviously, when trading without stops it is perfectly normal to accheive the success you have so far, because you would be risking the hwole account on each trade whilst looking for just a small profit and at some point a run/trend would wipe you out. You could argue that it doesn't matter because you are now effectively playing with 'the houses money' but at the end of the day its the difference between playing for beer money and doing it for a career.

Either way, you appear to be calling the market well each day. Kudos on that.

Take it You cleaned up today?

Good luck

Candles
More...



Aloha mate and thank you for your support.

The main reason factor that i attribute my consistent sucess to is due the actual view i have of 'the market',
rather than trying to use a 'trading system'.

Lots of people may have completely opposite views to me,
and everyone is welcome to their own view, as im not trying to preach or sell anything to anyone. lol


In my opinion most people are not actually 'trading stuff on the stock market',
they are instead using the stockmarket as a ''gambling circuit where they make 'small punts' and hope they make money off them''!


This issue of ''stoplosses'', i bet no-one has actually really stopped for 1minute and thought ''Hmm, i wonder who actually invented them and named it a 'stoploss''?? ;)

Why do you think spread betting companies want you to use stoplosses so much??
And why do you think they give it the name 'stoploss', instead of calling it a 'prevent future profit'?? ;)


You can all think im as wrong as you want to think, but at the end of the day what either of us thinks means nothing,
its the pure cash profit and consistentcy that clearly shows which method earns enough % profit to live off!.


Im not saying that you should never ever use a stoploss btw though, in some markets such as indicies stoplosses are necessary, since these markets are very choppy and so often change direction everyday.
And if your already in a trade, and the fed is giving a speech or some data is about to come out that could go either way on you.

(But when you trade oil the market doesn't move 1tick at a time, it moves 5ticks - 50ticks almost constantly at a time, even when the market is relatively quiet!)



Trading is already hard enough, simplified, to make money you need to make a trade in a certain direction, and then for the market to go past that direction in your favour so you can then cash-in.

Thats trading, 'you buy something and sell it for more'.
Or you 'sell something and buy it back cheaper'.


But so when you bring all these tight little stoplosses into it you not only have to get into the trade and have in go past your entery level in your favour,
but you ALSO have to have that happen before it goes to a certain level against you 1st.

But so why add that extra 'condition' into the contract???


If you dont feel extremely strongly that the market is going to go in a certain direction then why trade in that direction at all??

Why not just research enough into the market so you can findout the medium to long term trend, and then just ONLY trade in that direction, or go get a salaried job instead! lol
 
Im my view people who go into trades, but using a tight 'stoploss', all you are actually doing is just taking a quick bet on the gambling circuit, you dont actually have any strong commitment to your 'purchae of that contract'!

Like i said it wouldn't work for all markets, such as indicies which often change direction everyday.


But for things like eur/usd, imagine how gutted the bloke will be who got into a eur sell trade with a tight 30tick stoploss back when it as high up just below 1.6 level, got stopped out by a little spike, and then missed out on the huge crash in euro!


With oil i 'direction trade', meaning that i ONLY trade in 1direction ever, selling it.
Because i know oil will always be being pushed down, since everyone is always trying to push it down, no matter how high or even how low it goes (apart from opec if it goes to low). lol


So all i have to worry about ever is getting my entry points as close as possible to the top of the up spikes/day highs, and then i can just sit back and let the cash roll in. :D
(Even if i get in before the very top of the peak, why should i have to lose my money because of this??!!) LOL :p :cool:

As long as ive got my trade in far enough from the low support and not too low below the top resistance levels, i can just the oil stretch itself and make some noise if it wants to, before falling.


:D
 
Quote from candles:

Spanish89 (the real one)
You have done well in turning 700 into 5000+

I was lead to believe that you trade without stops but you appear to be taking some small losses on some of your trades?


Take it You cleaned up today?

Good luck

Candles
More...



I take small losses sometimes when i choose to though, if i get into a trade but then i see that ive got in too low.
Since i have limited capital still, and i like to have minimum $10s leverage room on my side per each £1 per tick.

So i just take a small losses sometimes when i see its necessary,
let the market rise up to its peak, and then make the trade then,
so instead of just 'undoing my loss to break even/little profit', i make maximum profit! :D


And no i didnt trade today cos i took today off since it was just flat lining and choppy today in the morning,
so it didnt suit my style of selling down after breakout peaks.


And after tomorrows inventories number that im gna hit £4 tick with either buy or sell (depending on the data number), so hope to make a few hundred from that atleast.

But i then need to withdraw £3,300, as im moving into my own apartment on saturday and need to pay £1,000 security deposit + 3months rent in-advance.
 
I just started reading the journal. I think a few percent a day is doable. The good mix for me, the thing I can sleep best with, is scans for watchlist candidates on the weekends and once a day trades on those and intraday trading with automation on futures.. neither one can make me lose sleep, no overnight holds on the futures and no leverage on the daily stuff...... when I can figure out a good option insurance scheme I'll put that in place for that extra half hour of sleep in the mornings, that pillow just feels so good sometimes :)
 
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
NymexCrude Sep Fut - 20 Aug, 08
20018 Open 5601847 19/08/2008 13:04:00 Sell 2 112.3
20018 Closed 5601944 19/08/2008 13:15:00 Buy 2 112.27 £6.00
20018 Open 5601979 19/08/2008 13:18:00 Sell 1 112.01
20018 Closed 5602030 19/08/2008 13:29:00 Buy 1 112.03 £-2.00
20018 Open 5602429 19/08/2008 14:22:00 Sell 2 112.75
20018 Closed 5602550 19/08/2008 14:42:00 Buy 2 112.68 £14.00



This yesterday's trade history.


(At the top of the screen when you copy and paste it shows lot of extra numbers from everyday of the month, but just like when it said something in the text about virtual account, this stuff isnt actually visible on the screen, but gets added when you copy and paste as text because you are copy and pasting over 'drop down menus', and so when you copy and paste the whole page including these menus it shows everything that is on those menus also!!)
 
Today's closed trades (Full Trade History)
Contract Order # Date/Time Buy/Sell £/tic Tic Size Price Profit/Loss
NymexCrude Oct Fut - 19 Sep, 08
NymexCrude Oct Fut - 19 Sep, 08 5607549 20/08/2008 15:35 Sell 4 0.01 115.41
NymexCrude Oct Fut - 19 Sep, 08 5607588 20/08/2008 15:38 Sell 1 0.01 115.88
NymexCrude Oct Fut - 19 Sep, 08 5607590 20/08/2008 15:35 Sell 4 0.01 115.41
NymexCrude Oct Fut - 19 Sep, 08 5607590 20/08/2008 15:38 Buy 4 0.01 0.00 £Stop Loss Move
NymexCrude Oct Fut - 19 Sep, 08 5607592 20/08/2008 15:38 Buy 1 0.01 0.00 £Stop Loss Move
NymexCrude Oct Fut - 19 Sep, 08 5607592 20/08/2008 15:38 Sell 1 0.01 115.88
NymexCrude Oct Fut - 19 Sep, 08 5607593 20/08/2008 15:35 Sell 4 0.01 115.41
NymexCrude Oct Fut - 19 Sep, 08 5607593 20/08/2008 15:38 Buy 4 0.01 0.00 £Stop Loss Move
NymexCrude Oct Fut - 19 Sep, 08 5607596 20/08/2008 15:38 Buy 1 0.01 0.00 £Stop Loss Move
NymexCrude Oct Fut - 19 Sep, 08 5607596 20/08/2008 15:38 Sell 1 0.01 115.88
NymexCrude Oct Fut - 19 Sep, 08 5607752 20/08/2008 15:52 Buy 1 0.01 115.51 £37.00
NymexCrude Oct Fut - 19 Sep, 08 5607766 20/08/2008 15:52 Buy 4 0.01 0.00 £Stop Loss Move
NymexCrude Oct Fut - 19 Sep, 08 5607766 20/08/2008 15:35 Sell 4 0.01 115.41
NymexCrude Oct Fut - 19 Sep, 08 5607845 20/08/2008 15:58 Buy 4 0.01 114.90 £204.00
NymexCrude Oct Fut - 19 Sep, 08 5607888 20/08/2008 16:00 Sell 2 0.01 114.65
NymexCrude Oct Fut - 19 Sep, 08 5607940 20/08/2008 16:04 Sell 1 0.01 114.92
NymexCrude Oct Fut - 19 Sep, 08 5607993 20/08/2008 16:11 Buy 2 0.01 114.18 £94.00
NymexCrude Oct Fut - 19 Sep, 08 5607993 20/08/2008 16:11 Buy 1 0.01 114.18 £74.00


GRRRR!!!!

I am so ******* ******** off at myself!!! :@ :(:(:(

After getting in after the 1st big drop cos my stupid economic calendar, the forex factory one, is delayed by about 5seconds,
i was still hitting it at £4 tick...
but barely made over 50ticks before i cashed in at the 1st support level.

Then hit it again at £3tick, but cahsed in jsut above the support level, but missed out on over 100ticks again because of that!! :( :( :(


I wanted to absolutely sell the **** out of the oil today, because when you get 9million over supply its just impossible to resist!!

But i need to withdraw £3,100+ from the 5k account tomorrow as im moving into my apartment on saturday and need to ay 3months upfront,
so i couldn't afford to have any capital tiedup in trades! :( :(
 
Oh and just for all the critics of my style and views on trading...

If you had used a stoploss of anything less than 60ticks when selling crude you would have lost all the money you used as your stoploss bet, and missed out on the huge fall then!
 
Good traders are responsible for their own errors.....they don't blame anyone or anything else.
The arrogant know-nothings blame others....and they end up with........nothing.
 
I didn't make ''an error''... lol

I made 8% profit on my entire account capital in 1day!! :D


But i get so sooo frustrated when i miss out on money by failing to gamble and try holding out profitable trades hoing they fall through 2 t 3 support levels,
instead of just cashing in at the 1st t 2nd level. :(
 
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