Can't daytrade full-time only trading 1 ES, YM or NQ contact

The whole point of trading the ES is that you easily can scale up to 100 cars. Why would you not do that? If you have an edge, it is like giving money away.

You can easily make a good living trading one contract of CL, though. The intraday gyrations make it quite lucrative...
 
It doesn't matter what the contract is...if there's enough volatility on a consistent basis and if you're a profitable trader on a consistent basis...

You can trade for a living via 1 contract and that phrase "trade for a living" is greatly dependent upon your personal lifestyle needs as I pointed out in my prior message. Simply, trading for a living is different from one trader to another trader due to differences (needs) in their personal lifestyle.

Yet, if you ain't profitable...I wouldn't be concerned about how many contracts are needed to trade for a living. :cool:

Therefore, when you said the following statement...

Quote from increasenow:

Seems impossible to daytrade full-time for a living trading only 1 ES, YM or NQ contract. You agree? You must trade more than 1 contract...agree?
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You're either not profitable or the expenses involving your personal lifestyle exceeds the profits from trading the Emini ES futures.

Mark
 
Quote from r-in:

7 points a day on one contract would be very good. Especially with the ranges for the past few weeks. One contract should be a starting level, and not counted on for making much day in and day out, but rather for learning and slowly conservatively building to another contract.
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7 points on the ES is amazing...nothing to joke about...but, your call this range recently with the ES?...the high-low range has been smaller than Corn!...it seems better to scale up and throw 10 contracts at the ES
 
Quote from increasenow:

7 points on the ES is amazing...nothing to joke about...but, your call this range recently with the ES?...the high-low range has been smaller than Corn!...it seems better to scale up and throw 10 contracts at the ES
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What about 100 contracts? :)

1 point/10 contracts = $500.

Most traders would agree that on balance one would need at least a 2 point stop in the ES.

2 points/10 contracts = $1000.

3 losses in a row = $3000.

How would you handle that? How will it affect your fourth trade?

Now, if you have a huge bankroll, it might not be a big problem, but if you`re highly leveraged, you`re dead, IMO.
 
Quote from 1prometheus:

Ahhh, no. Not exactly.
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Agreed..I'd like to here from someone who pulls 7 points per day consistently from the ES...not as easy as the dude said
 
Depends entirely on volatility. In 07/08 you could do 7 pts/day, no sweat. Good luck doing that on these gap a die days or gap and trend up all day. You can only take what the market offers and you have to be able to change your size according to conditions.

Quote from increasenow:

Agreed..I'd like to here from someone who pulls 7 points per day consistently from the ES...not as easy as the dude said
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Quote from increasenow:

Agreed..I'd like to here from someone who pulls 7 points per day consistently from the ES...not as easy as the dude said
More...

35 points weekly is pretty steep for even a veteran trader.



Last week I only pulled in around 18 to 20.


During slow times I may only average 10 to 15 per week.


This week I pulled 47 points in 4 days in ES with trades posted live in the ES journal due to option expiration volatility.
 
Quote from volente_00:

35 points weekly is pretty steep for even a veteran trader.



Last week I only pulled in around 18 to 20.


During slow times I may only average 10 to 15 per week.


This week I pulled 47 points in 4 days in ES with trades posted live in the ES journal due to option expiration volatility.
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That's great! What is your trading method without sharing your secret
 
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