5% - 10% profit per day trading

[pocketmoney]

Quote from usman88:

you have given some pretty amazing calls
what markets do you trade and whats your trading style?

Thanks man.
I haven't made that many calls on this thread. You read the ES thread?

I mainly trade the ES. I just trade off price action / support and resistance. Nothing fancy. I mainly trade off the 5 min chart.

I am in the process of learning how to swing trade the forex markets also.

 

[InvestVision]

U.S. Oil Inventories:
For week ended March 27.
Crude Gasoline Distillates Refinery Use
EIA data: +2.8 +2.2 +0.2 -0.3
Forecast: +2.3 -1.2 -0.5 +0.2

 

[usman88]

i got out at 4740

 

[InvestVision]

Report bearish on all 4 fronts

Quote from InvestVision:

U.S. Oil Inventories:
For week ended March 27.
Crude Gasoline Distillates Refinery Use
EIA data: +2.8 +2.2 +0.2 -0.3
Forecast: +2.3 -1.2 -0.5 +0.2

 

[Blubaru_555]

ECB is also supposed to cut rates this friday, strengthening the dollar and further driving oil down. even when all the stars align, unexpected things can happen, though.

 

[spanish89]

Quote from usman88:

I have a day job too but I cant wait to get back home and start trading. Often I leave work before 5pm (new york opens at 6pm)

Eeeek!! :eek:
Whats your normal job mate??

And you basically get like 4hours sleep/freetime per day, and the otehr 20hours are all work?? :eek:

 

[spanish89]

Quote from pocketmoney:

I love it mate, lol.
I can tell you that the grass is always greener. When i was working for the logistics company, I used to sneek off work early some days when my boss wasn't there to go home and trade! lol

Office interaction sounds like fun, but sometimes your stuck working with someone you hate who drives you crazy.

Best to make some nice money and then go out and pull birds. I bought a new laptop yesterday and am now in the garden trading! Im not gonna get carried away because trading is hard.

I dont even consider myself a good trder yet, but when I am, im just gona make a few hundred pouds in the morning, and then go to the beer garden and get drunk and chat up girls with my mates who dont work! cant wait! roll on summer! p.s - it is such a nice day in the UK today for once - bring on the heatwave!!

Grrr you have made me feel all gutted now that im gna have to choose between either being cooped up inside all day trading, while all the fit school girls hangout down the park by the river in the afternoons,
or can not work and go own the river too,
but then will have no food to eat or money.


This will be the 1st summer that ive lived alone and so had to earn so much money every week,
instead of living at family house while i ued to go to school n college, and then spending the entire summer from june t september going dowb the river with my mates everyday to get girls. :/

(Last summer was all rainy which was good as i stayed inside selling oil all summer)



How do you make money in the morning though mate??

Cos for me the 'morning' doesn't start till 1pm lunchtime,
and so i have to work from 1.30 t 6.30 everyday,
which is the worst hours as thats when all the fitties get out of school/college and go down by the river!!

 

[MohdSalleh]

Quote from spanish89:

Arrrrggghhhhhh how do you guys not get bored out of your skull doing this everyday too??!! :eek:


I seriously feel like im just withering away here sitting alone staring a the same chart every single day, doing the same thing everyday,
with no office-politics or colleagues or any of the normal stuff that people are meant to do in their life!

How come ur not washing cars today??? i thought u are gonna do this everyday?

 

[InvestVision]

for now oil is tagging on equity market strength , if it is pulled to 49.0 then good place for short
once oil runs out of equity stength it will be pulled back to 47.50 level

Quote from InvestVision:

Report bearish on all 4 fronts

 

[spanish89]

Your doing really well btw mate... :eek:

Not 'just average'.



Since in my view the 2 things that define how good a trader you are are-

* Your average weekly % return on whatever account size your making your trades from.

* The number of profitable trades you make compared to number of losses.


(I know people say that lots of good traders have more losses than profits, but just bigger amount size profits than losses,
But i have an extremely string personal view about this and the people who say that are just fools!!) Lol

Since while you can make more losses than profitable trades, and yet still endup making money overall....,
your not a good trader, your simply a lucky gambler!


As theres 50/50 odds of the 2directions, spreads make it 40/60,
BUT everyone has control of where they enter their trades,
which is something the market cant do as it has to take your trader at whatever level you enter it at.
And so that tips the odds to roughly 86/14 in your favour that every trade you make should be profitable.

(Impatient people and gamblers are the 1s who will enter at foolish levels and so take more losses)




But your doing really well on both of those 2 key attributes mate.