Day trading Future for a living ES YM NQ
- Thread starter ksonsinc
- Start date
Agreed--I can back up Pabst too. It wasn't until I started compiling my statistics that I realized how vital discipline is to keeping a profitable system working.
I wasn't enforcing my stops and profit targets, and the stats showed that I would have lost the whole account if I continued in that fashion. Luckily, the daily stats brought my attention to keeping my win% and avg win/avg loss above certain thresholds, and when trading from that point of view, it became much easier to enforce my stops and profit targets.
Well I just did taxes for the account I started trading es last year and it was 6k positive for the futures section and that was about 5 months very off and on largest base position 5 contracts. It also includes about 3k of QM losses. So I think it should be possible to make a living. Still when I started at schonfeld(in fl in 2002) I was the only really seriously consistent positive newby they had. I quit to go to lawschool. (when I left I had a 1200 max share position) I really question how people could make a living doing stocks to be honest.
Maybe stocks in an intraday time frame has gotten better.
I really doubt future trades would post a pl to be honest. There are also alot more stock prop shops with incentives to recruit so stock PL would be more suspect.
Also made about the same amount in options. I've started practicing law to in Memphis. I hope to combine the two.
Maybe stocks in an intraday time frame has gotten better.
I really doubt future trades would post a pl to be honest. There are also alot more stock prop shops with incentives to recruit so stock PL would be more suspect.
Also made about the same amount in options. I've started practicing law to in Memphis. I hope to combine the two.
It can be done. I posted a PnL once and everyone got their panties in a wad. The good futures traders do not brag. The goods ones do not have to trade more than a couple of years. They make their lick and put it into other ventures.
Well said. I know a couple guys that made unbelievable money trading futures, I know a couple that grind it out. The nature of these markets are just that...if your in the right place, right time, right market, to make a fortune in a few years, you do and go into other things.
Eh I guess the point I'm just getting at, from my expirience, there aren't any futures traders that make sensational money consistently every year, for years anymore. I'm talking 5 or so mil / year for 10 years plus. But there are plenty that make 3 mil/year for 2-3 years after getting the hang of it, then retire so they don't have a heart attack.
Trading is 90% psychology......even if you have the very best method out there.
I am using a method I have seen work thousands of times. I am trading with "money I cant afford to lose" as posted earlier.
What I do is watch the market, know a move is coming and then miss it due to hesitation. After that something makes me feel like I need to make a trade to compensate for the money ive missed so I enter early, and lose money.
Sometimes I enter late, after the move has played out. I know exactly what I am doing and what I need to do to correct it.
The psychology of trading a small account is harder than almost anyone realizes.
I am using a method I have seen work thousands of times. I am trading with "money I cant afford to lose" as posted earlier.
What I do is watch the market, know a move is coming and then miss it due to hesitation. After that something makes me feel like I need to make a trade to compensate for the money ive missed so I enter early, and lose money.
Sometimes I enter late, after the move has played out. I know exactly what I am doing and what I need to do to correct it.
The psychology of trading a small account is harder than almost anyone realizes.
if you have method that works then you can do a live journal or posting call before hand, check out journal forum for more examples, on other hand if you just wander from thread to thread and keep drumming about "I have a method.." then that could be viewed as trolling for client which of course is a no no.
If i have a system that works well on Dow intraday index data, can i use that system in the following way:
everytime i get a signal to enter on the dow index, i enter a position on the YM at that instant that i get the signal on the dow index
everytime i get a signal to exit on the dow index, i exit my YM position at that instant that i get the signal on the dow index
would this work? and what are the dangers of doing this if any?
everytime i get a signal to enter on the dow index, i enter a position on the YM at that instant that i get the signal on the dow index
everytime i get a signal to exit on the dow index, i exit my YM position at that instant that i get the signal on the dow index
would this work? and what are the dangers of doing this if any?