Consistent profits...

Quote from whitster:

the reason YM is preferred vs. DIA (generally) is that YM is a futures contract. It offers better leverage, better liquidity, etc.

It also trades nearly 24 hrs a day.

YM is $5 per point, and with 3k u can trade 2 contracts

so (not that u SHOULD do this) u can get $10 per Dow point based on a 3k account

DIA is such that you need to buy 100 shares to get $1 per point. Thus, to get 10 per point you need to buy 1000 shares of dia

1000*116.00 = 116k. with 4:1 intraday leverage u would need about 30k in yer account to do this vs. 3k in yer account for the YM

Also, YM gets favorable Futures tax treatment (60/40)

etc.
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Really appreciate.

I would add ym on my trading list.
 
Quote from FaderTrader:

Please correct me if I'm wrong, but isn't the hallmark of a solid trader when he enters a position asking, "What's my risk?" and when he pyramids, "Ok, now what's my risk?"

versus...

"I just need $X"

Completely arbitrary. If you have good setups, just scale the thing up and make twice your arbitrary number.
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if thats what makes you a "solid" trader, then I've been one sense the day I started :) . Im my opinion, if you cant figure out or are just too lazy to care what your risk is for any given trade......just go to a casino


- nathan
 
The answer to your question is no. You will not be able to make 300-500 a day with only $2500 in capital because of the pattern day trading rule.
 
well, except for the fact that futures and forex aren't subject to the pattern day trader rule, since that is SEC and thus does not apply

not that it would be exactly "easy" to average that amount with a 3k futures account
 
Quote from BENG:

Yes, if you are really good in trading. I doubted.

To me, the only way to pull that off is to trade futures, not with stocks, unless you are the penny stocks master.

The fact that you have to ask such a question reflects that you have no idea what you are doing, and what's doable in the market. For those who can pull that off, no one is going to tell you how to do it.

I guess that's why people don't bother to answer your question. It's meaningless, or you've answered yourself already. It's not possible for you right now.

Just trying to help...
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r0r, funny that many on this board can prove u they make much more than 500bucks daytradin' stocks, while very few [no1 so far, but am willin' to speculate] has consistently made any money by tradin' only futs.
 
Quote from shamund:

Is there anyone in here making 300-500 a bucks a day consistently? Is this possible to do daytrading in the NYSE coupled with some momentum trading in the NASDAQ?:confused:


Please chime in w/ any useful info. BTW, I will trading 2.5k on margin or 5k of buying power.

DT
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You have a better shot at doing that in futures like it was already mentioned. By the way, your profit targets are crazy and totally unrealistic, basically your asking for about 10% day! Impossible by anyone. With your account size you should trade no more then one contract ym or es and you should have a profit objective of $50/day. Hit that with some consistency then move on.
 
Quote from whitster:

and i LOVE Fed day. I prepared for 2 hours last night just for the fed announcement.
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Can you share how you prepared?

I have a new FOMC strategy. Take a random position before 14:15 and just wait until it gets in the money by 20 points, then take profits quickly. It works...
 
one thing i have to agree to ( whistle ) is that if he has 10K and what ever he make he remove it right away
That is a very good idea cause sometime as the account grow the person become more aggressive and might play bigger then usually and blow his account up while if u have 10 K u know u have to keep that 10 K no matter what and have to trade safetly
 
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