ES Journal Archive (2006 - 2008)

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Quote from martys:

4.7 points per trade doesn't add up. Say he trades only 5 contracts, he would only make a point per trade. I think I can do that.
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yes, but he does not mention how many lots he trades on average, he simply stated how many points per trade, it's up to yours and mine imagination to take it to a "stratosphere" by assuming how many lots per trade.
 
Quote from romik:

yes, but he does not mention how many lots he trades on average, he simply stated how many points per trade, it's up to yours and mine imagination to take it to a "stratosphere" by assuming how many lots per trade.
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I guess I could be wrong but I know Spike is much much better trader than I am.
 
Quote from spike500:

4.7 points PER CONTRACT
margin 1000$ PER CONTRACT
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Romik... I was wrong... Spike could double whatever money in his account in a WEEK.

:eek:
 
Quote from spike500:

4.7 points PER CONTRACT
margin 1000$ PER CONTRACT
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it's still the same as per trade, unless he trades different amounts of lots, like I do. So in my case the calculation is not entirely correct, as I have not accounted for amount of variable lots, so the end result should be higher.
 
Quote from martys:

The last time I look (this morning), the daily and weekly are up. But of course it could go down, what do I know? :(
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Marty
Just plan for it as a contingency. When you and others are firmly in the bull camp you know if it happens it will be a big move.

We dont know the future all we can do is plan our actions when we see the signs. Hopefully you study the start and not the end of moves, generally people dont start early enough - The butterfly effect :)
 
Quote from Buy1Sell2:

Yes, I agree with this as I have found out in this journal. It is part of the "charts look different" statement that I made. Indicators can be used effectively, but only with increasing position size as I did in the first pages of the journal with "probes". I would go one further here and agree with the first line of your post and stop after the word "daytraders" and before the word "that"---Not saying there aren't successes but this is what I believe. :)
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That is maybe what you believe, but I can assure you there are successful emini daytraders.

It is difficult for sure, yet not impossible. Usually involves many years of losses and lots of pain first though.
 
Quote from LondonUSTrader:

... Usually involves many years of losses and lots of pain first though.
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Correct, but most newbies think they can make it in a few months. They don't realize that once they think they master the market, the market often changes or the stystem stops working. In my first 5 years of trading i was at least a dozen times sure that i had made it, but each time other problems appeared and i was confronted with the hard reality.

It's the same phenomena as the following: 80% of the car drivers believe they are in the 10% best drivers. But at least 70% of the 80 are wrong.
 
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