Daytrading E-minis

Quote from NasdaqTrader:

To anyone who is daytrading ES and NQ, how difficult is it to consistently make at least 2 ES points a day($100 total profit/contract)?...
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Every trader isn't the same...

however...from what I've seen...beginner traders (new to trading) or beginners to eminis (experience elsewhere but new to eminis)...

they have a tough time at being consistent at making at least 2 points per day.

The traders that I've met that are able to make at least 2 points per day...have experience or have been mentored.

Like I said before...everybody is unique.

There are probably traders out there that were profitable right out of the gate...

some may take a few months...

others a little longer.

Give yourself about a year to become consistently profitable if your on your own (trial-n-error)...

if you have a successful mentor...give yourself a month or so to become consistently profitable.

Once again...the above aren't hard facts...just things I've noticed via talking to other traders.

NihabaAshi
 
Reg,

You may wish to have a look at Mark Cook's web site which has a couple of articles on day trading the S&P index. The information obviously also applies to ES.

His site is: http://www.markdcook.com

As you may be aware, he is one of Jack Schwager's "Market Wizards," and a friend of Martin Schwartz.

I hope you find the site useful.

Regards,

Thunderdog
 
The higher time frames lead the lower time frames. Meaning use multiple time frames and don't trade against the next higer time frame. Keep it simple.
Hope this helps. It has helped me.
 
Quote from daytraderpete:

The higher time frames lead the lower time frames. Meaning use multiple time frames and don't trade against the next higer time frame. Keep it simple.
Hope this helps. It has helped me.
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What do you mean exactly?
 
Daytraderpete,

Your point about not trading against the trend of the "next" longer time frame is conservative and has some validity. However, that is using the longer-term time frame as a filter rather than as a "leading indicator." as an aside, by definition, the shorter time frame will always lead the longer time frame.

Regards,

Thunderdog
 
Quote from NihabaAshi:



they have a tough time at being consistent at making at least 2 points per day.

The traders that I've met that are able to make at least 2 points per day...have experience or have been mentored.

NihabaAshi
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reg,

I gotta agree with the points made by NihabaAshi... additionally, newbies should probably slash that expectation of 2-3 points per day to something more realistic... 2-3 points per day per contract as a long run average is what more experienced ES players are getting... so cut your expectations down to something more modest like 1 point a day per contract... as an average, you can do reasonably well on even a measly 1 point a day...

Candle
 
Quote from NasdaqTrader:

Anyone know what firm i can get $500,or somewhere around there,daytrading margin requirement for the ES and NQ?
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Heh, you could buy 10 contracts of ES with 5K and lose 10% of
your account when ES goes down only 1 point!... That would be cool... :D
 
Quote from version77:



Heh, you could buy 10 contracts of ES with 5K and lose 10% of
your account when ES goes down only 1 point!... That would be cool... :D
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Hehe... precisely... one of the most important things about trading is to focus on how much you could lose, not how much you could make... yes, those who focus on the latter sometimes do well (e.g. Larry Williams) and go on to have glittering careers as snake oiling scumbags... but if you want to be a consistent trader, focus on the downside...
 
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