Al Brooks method

SteveH said:
For the overwhelming majority of at-home e-mini scalpers, it's not an especially bright idea to daytrade the ES rather than the NQ, RTY or YM.

[In the background, I'm watching Ross Cameron trade some low float pre-market POS stock. Such a joke. Must be nice to have 1000+ in your chat room and you can front-run every...single...one...of..them. Now THAT'S an edge, folks!]
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LOL well said.
 
SimpleMeLike said:
Hello Frederick Foresight,

Thank you sir.

Odds, betting, markets, Donald Trump, Obama, Interest Rates, blah blah blah, all that hog wash means nothing.

All that matters is getting to 100 ES contracts per trade and getting rich, quickly. Everything else is pony and clown show.
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Let's do a little back of the napkin math


100 contracts..., and getting rich quickly


100 contracts X the margin requirement = 40K (using AMP $400 per..., to hold overnight will need to multiply by CME maintenance - so I'm going to assume day trading)


shits and giggles we'll use $40k US

then need additional to cover losing trades

what your SL going to be in base points - I'll assume 5

each losing trade = $(25)K US

Now, how many losing trades in a row should we assume (having a bad day) - I'll assume 4

so far we're at $140K just to reasonably pull off 100 contracts - not including commissions

How many base points per day we targeting - the great unknown



liquidity - US open to london close - likely a not problem

say 11:45 till a little after 1pm - could see some slippage

1 ish pm to 3:45 - doable

heading into close - shit does get kinda wild at times

My point

tying up a lot of capital

trading a size - that if you don't have your shit wired tight - could quickly get your ass in a bind

doable - yes

advisable - not knowing your skill set - I wouldn't


Be amazed what can be accomplished with a lot less



as for the get it quickly piece - what the fuck is your hurry (rhetorical) - I will say it never advisable to do anything quick in this business..., except - think quick - but always act deliberately

JMO - YMMV

ETA - $4K a day goes long way to $1M per year

RN
 
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Redneck said:
Let's do a little back of the napkin math


100 contracts..., and getting rich quickly


100 contracts X the margin requirement = 40K (using AMP $400 per..., to hold overnight will need to multiply by CME maintenance - so I'm going to assume day trading)


shits and giggles we'll use $40k US

then need additional to cover losing trades

what your SL going to be in base points - I'll assume 5

each losing trade = $(25)K US

Now, how many losing trades in a row should we assume (having a bad day) - I'll assume 4

so far we're at $140K just to reasonably pull off 100 contracts - not including commissions

How many base points per day we targeting - the great unknown



liquidity - US open to london close - likely a not problem

say 11:45 till a little after 1pm - could see some slippage

1 ish pm to 3:45 - doable

heading into close - shit does get kinda wild at times

My point

tying up a lot of capital

trading a size - that if you don't have your shit wired tight - could quickly get your ass in a bind

doable - yes

advisable - not knowing your skill set - I wouldn't


Be amazed what can be accomplished with a lot less



as for the get it quickly piece - what the fuck is your hurry (rhetorical) - I will say it never advisable to do anything quick in this business..., except - think quick - but always act deliberately

JMO - YMMV

ETA - $4K a day goes long way to $1M per year

RN
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Good Morning Redneck,

Good analysis.
 
Redneck said:
Let's do a little back of the napkin math


100 contracts..., and getting rich quickly


100 contracts X the margin requirement = 40K (using AMP $400 per..., to hold overnight will need to multiply by CME maintenance - so I'm going to assume day trading)


shits and giggles we'll use $40k US

then need additional to cover losing trades

what your SL going to be in base points - I'll assume 5

each losing trade = $(25)K US

Now, how many losing trades in a row should we assume (having a bad day) - I'll assume 4

so far we're at $140K just to reasonably pull off 100 contracts - not including commissions

How many base points per day we targeting - the great unknown



liquidity - US open to london close - likely a not problem

say 11:45 till a little after 1pm - could see some slippage

1 ish pm to 3:45 - doable

heading into close - shit does get kinda wild at times

My point

tying up a lot of capital

trading a size - that if you don't have your shit wired tight - could quickly get your ass in a bind

doable - yes

advisable - not knowing your skill set - I wouldn't


Be amazed what can be accomplished with a lot less



as for the get it quickly piece - what the fuck is your hurry (rhetorical) - I will say it never advisable to do anything quick in this business..., except - think quick - but always act deliberately

JMO - YMMV

ETA - $4K a day goes long way to $1M per year

RN
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lol AMP is going to limit you to something like 10 contracts at that figure.
 
destriero said:
You do stupid really well. Kudos, ser.

Note: Day Trading margins are twice the displayed amount for account balances exceeding $100K

And I would bet my net liq that nobody has B/S 400 ES at AMP with a net liq of <$321K.
lol.
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You just made my case even more

Good job

RN
 
I asked you if you can trade 400 with $160K and you cannot. 400 would require a net liq over $160K therefore the $100K net liq qualifier kicks in (double the req). You implied I teed it up for you and then you provided the proof of you failure.
 
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