For those that make 4 or 5 grand a day net

... so, based upon 'let it run's' comments, is it better to develop a trading style/system on an instrument that one could foresee taking large size and not getting in one's own way.

The guys I trade with basically do that, but at times, I see it can be difficult to get rid of/acquire shares to relinquish a position.

thx
 
Quote from let it run:

You underestimate the money you can make without taking on massive size.

If you trade Bund/Bobl/TNote with the right equipment and support, you can quite easily make $5k in a day with nothing more than a 20 lot riding at any one time.

If there is enough data coming out and Mr Rotter is doing something you have picked out, there are plenty of people that can and do clear $10k in a day with 20 lot trades and wouldn't walk away thinking they are an outstanding hero. Also, it is possible to do it scalping as well as swing trading- one size does not fit all

I suppose unless you have seen that world, it is a bit hard to believe or even know that it exists. This is not me trying to act up, I'm just telling you that you should have the belief that you can achieve big results- because you can.

Do you guys all trade from home? If so, I commend you for turning a decent profit without the speed/support/commissions that are offered at a bank or prop shop.

If you have worked yourself out a complete system (strategy, risk management, money management etc.) from working at it at home, you must have the ability to do a whole world more with the right environment and leverage.
More...


Thank you, working from home has its advantages too: you are more likely to finish up with something that is unique.

However once the system starts to generate money then the need to work from an office / prop firm etc is no longer there and more than likely will only be distracting from the concentration and may be impacting on the bottomline.

wD
 
Is $5K a month okay too???? :D

Laugh if you want, but it takes me (now) all of 15 minutes per day to set up the systems.

Hmmm...let's see... 15mins X 200trding days/yr = 3000mins/yr, 3000/60 = 50hrs, $60,000/50 = ...$1200/hr!

AND I have a $100K "real" job with great bennies too! :cool:

Good trading to all
 
Quote from MTE:

Exactly! Averaging $5K a day means nothing without knowing the capital base.

$5K on a $10mil account is only about 14% p.a. compounded.
$5K on a $100K account is 323,010% p.a. compounded.

Spot the difference!?
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I can make 5,000 on a 20,000 account!!!!
Trade futures better bang for your buck!


I have not read all of the comments on this thread, but the ones I have read show me that most of you will never be able to make 5,000 in a day.

It has nothing to do with your trading style or market you trade. The reason you will not make 5,000 a day is you believe there is something outside of yourself that dictates you p/l. The only chart that is important is the map of your own brain. Any trader who masters his mind will succeed.

A book that helped me mentally was Think and Grow Rich by Napoleon Hill.

By the way intraday scalpers do make good money. I have made 20 trades and it is only 9:12. I am probably done for the day.

Master self and there is no upward resistance on how much money can be made trading.


I will provide a good example. I trade using TT(Trading Technologies). The fill window which shows my P/L is in the bottom middle of my workstation. After almost every trade I make I change the filter so I never see past profit or loss. For example lets say I made a trade at 9:15 and made $400. After I exited the trade I would change the filter to 9:16-15:15. By doing this I only can see the p/l for the trade which i am currently in. I never observe my daily p/l until after the day is over
On Tuesday I broke my rule!!!! At 9:20 on Tuesday I looked at my daily p/l. I was up $2800. Guess what I did in the next half hour. I lost the all of my profit and ended the day down $1000! The only reason I lost the money is looking at the whole days p/l changed my mental focus. After seeing my daily p/l my mind believed that money was a final audit of the days work. Now I was afraid to lose the money. Subconsciously I became afraid of losing my "paycheck".


2 rules that will change your trading dramatically.

1)Never view your daily p/l until the end of the trading day!
2)The trading day ends when you look at your daily p/l

You will be amazed at how much stress and fear will be lifted if you follow these 2 rules.


For example I just looked at my Friday p/l at 9:30. I am done for the day.
 
You want to make big money?

Then develop a scalping game. It's that simple. I'm not saying this is all you should do but this defenitely should be one the strategies you employ. In my opinion it is dýrt easy. The algorithms don't change the only thing that changes is the volatilty/range.

The same patterns keep repeating over and over and over again.

Happy Hunting.

P.S - for example go long on the ER2 rýght around here (700)
 
Quote from ozzy:

You want to make big money?

Then develop a scalping game. It's that simple. I'm not saying this is all you should do but this defenitely should be one the strategies you employ. In my opinion it is dýrt easy. The algorithms don't change the only thing that changes is the volatilty/range.

The same patterns keep repeating over and over and over again.

Happy Hunting.

P.S - for example go long on the ER2 rýght around here (700)
More...

what about at 701??

hhahahaha

mnx
 
Quote from scalper21:


I will provide a good example. I trade using TT(Trading Technologies). The fill window which shows my P/L is in the bottom middle of my workstation. After almost every trade I make I change the filter so I never see past profit or loss. For example lets say I made a trade at 9:15 and made $400. After I exited the trade I would change the filter to 9:16-15:15. By doing this I only can see the p/l for the trade which i am currently in. I never observe my daily p/l until after the day is over
On Tuesday I broke my rule!!!! At 9:20 on Tuesday I looked at my daily p/l. I was up $2800. Guess what I did in the next half hour. I lost the all of my profit and ended the day down $1000! The only reason I lost the money is looking at the whole days p/l changed my mental focus. After seeing my daily p/l my mind believed that money was a final audit of the days work. Now I was afraid to lose the money. Subconsciously I became afraid of losing my "paycheck".


2 rules that will change your trading dramatically.

1)Never view your daily p/l until the end of the trading day!
2)The trading day ends when you look at your daily p/l

You will be amazed at how much stress and fear will be lifted if you follow these 2 rules.


For example I just looked at my Friday p/l at 9:30. I am done for the day.
More...


I've done you one better. My TT is set (by my firm) so i can never see my P/L! I have to manually figure out my money. I'm totally with you. Detachment from $ is the only way to go. After all it's not really cash but rather ticks.
 
I agree, I have a problem w/ certain stocks I trade. It doesnt matter if I know its going to go up right now, I physically cannot buy as much as I'd like. I am working on finding thicker stocks though and working from there.

Quote from Dogballoon:

Right on, though at a unique point in each instrument the most important part is sufficient liquidity. That overrides any sizing scheme.
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700.00 looked good to me. Didn't hit wait a couple more mýnutes maybe it will otherwise hýt that shýt!!!
 
Quote from FastandFurious:

How do you do it? I assume that you guys are swing traders as it may be possible to make that much in scalping, but the commissions are a big chunk...if you guys swing, how do you pick your stocks to trend for that day, and what indicators, etc...do you base your decisions off of?
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Daytrader. Account SIZE, does matter.

I scalp the opening bell and play or fade the pre-market Gaps.

I'm not here to write a book. But, my indicators are as follows:

News Feed via my trading platform www.DASTrader.com

Inet Top List http://www.nasdaqtrader.com/trader/data/toplist.stm

AM Market Call http://money.cnn.com/data/premarket/
 
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