From 1k to 500k (Deadline: 2017)

[K-Pia]

It is best to always go for plus one tick for breakeven stops, so like 3 bars goes by and you up two ticks, move protective stop to plus one or if at a loss after three minutes, change target from 2-3 points to plus one tick, you be surprised how many times those plus one ticks adds up, let someone else pay the fees and you still make 8 bucks. There been a few days a year where all I make is 10-20 one tick trades, since I lease a seat, I am making more than retail, but regardless, ending up with 20 ticks, nearly five points not that shabby, most folks give their right arm to make that. Have a Goal in mind like 6 points and quit for the day then sim trade rest of the day, that is what I am doing now, get 6-7 points and walk away, and regardless, am done in 60 minutes.

Learning to fade takes a good three years to get decent at it, more things you have to master as far as reading charts, if anything look to fade in direction of trend.

All right. Didn't get +1 tick break even.
I use to say 1. Limit Losses 2. Cover Costs 3. Grow Gains
If the underlying move enough into my favor, I cover costs.
Which means that I put the SL at +1 tick as you recommend.
True that those +1 ticks already cover lots of the previous losses.
I've read and agree that 80% of outcome cancel each other.
The 20% that's remaining makes the P&L Outliers +++.
And if it stagnate ... Low motion. I just get out.
Agree with letting others pay the spread.
Well 20 ticks is 5 points on the ES !
What do you trade ?

Good idea to switch on sim once done for the day.
I target 2 points in average but expect bigger moves.
If I make more. Then I'll stop. I'll target 6-8 points moves.
I skipped low TF charts because of all those S&R ...
I used to target small moves. Over trade ...
Now I am more patient, shoot for more.

I agree. To trade (fade or not) but always with the flow.
To get assymetric returns, we must marry the underlying.
If it's bullish, then the outliers will be positive. I want them.
We want to be long asymmetries, like being long calls or puts.

Thanks again.

 

[Turveyd]

Day trade it, think 20 trades per day, hit 20K in a few weeks or bust in 15mins, same result just less time wasted either way.

Good luck though, it's the dream I'm working on to, being poor sucks!!

 

[K-Pia]

Day trade it, think 20 trades per day, hit 20K in a few weeks or bust in 15mins, same result just less time wasted either way.

Good luck though, it's the dream I'm working on to, being poor sucks!!

Yo man, you posted 3k posts and still poor ?
Looks like there ain't much wisdom out there !

Aha... I agree that being poor sucks.
Especially while having nothing to invest,
When it's the only thing we could possibly do.
However, we could keep trying and staying stuck.
Don't want to end as a broke Gambler. Being a sucker.
One can be a looser in the market. But not in life !
Wish you the best in your quest ! Break a leg !

 

[K-Pia]

(2 + 26 + 21 + 29 + 10 + 8) / 115= 0.83
Number of trade that cancel each others divided by total #trade.
(2+26+21) are #trades from -3 to 0 and (29+10+8) are #trades from 0 to 3.
So it holds. 80% of the trades just cancel each other. 20% make the difference !
Same for underlings. They are in a range 80% of the time. I want to ride what's left.

 

[Turveyd]

Yo man, you posted 3k posts and still poor ?
Looks like there ain't much wisdom out there !

Aha... I agree that being poor sucks.
Especially while having nothing to invest,
When it's the only thing we could possibly do.
However, we could keep trying and staying stuck.
Don't want to end as a broke Gambler. Being a sucker.
One can be a looser in the market. But not in life !
Wish you the best in your quest ! Break a leg !

Yeah most of dribble so don't really count Wisdom LOL and LOL

Hey I'm up 1000% area, if you ignore my poor issues and had to steal from account months, sadly 10x's bugger all, is still bugger all The Next 10x's is where the money is at

 

[K-Pia]

Yeah most of dribble so don't really count Wisdom LOL and LOL

Hey I'm up 1000% area, if you ignore my poor issues and had to steal from account months, sadly 10x's bugger all, is still bugger all The Next 10x's is where the money is at

What matters ain't the picture.
It's the dynamics. Sustain that process.
10x squared ain't that bugger ! As you said.
Wish you no more troubles and to keep doing as well.

 

[OptionGuru]

RE: From 1k to 500k (Deadline: 2017)



This can only be remotely achieved through equity options - not ES futures.

 

[Handle123]

All right. Didn't get +1 tick break even.
I use to say 1. Limit Losses 2. Cover Costs 3. Grow Gains
If the underlying move enough into my favor, I cover costs.
Which means that I put the SL at +1 tick as you recommend.
True that those +1 ticks already cover lots of the previous losses.
I've read and agree that 80% of outcome cancel each other.
The 20% that's remaining makes the P&L Outliers +++.
And if it stagnate ... Low motion. I just get out.
Agree with letting others pay the spread.
Well 20 ticks is 5 points on the ES !
What do you trade ?

Good idea to switch on sim once done for the day.
I target 2 points in average but expect bigger moves.
If I make more. Then I'll stop. I'll target 6-8 points moves.
I skipped low TF charts because of all those S&R ...
I used to target small moves. Over trade ...
Now I am more patient, shoot for more.

I agree. To trade (fade or not) but always with the flow.
To get assymetric returns, we must marry the underlying.
If it's bullish, then the outliers will be positive. I want them.
We want to be long asymmetries, like being long calls or puts.

Thanks again.

I trade Crude oil 2.5 hours before ES open, but quit crude oil most of time 30 minutes before, then if reports are do in ES, I will trade hour before day session open till 60 minutes after then I am done, manually trading. Occasionally, I will trade Gold or Currencies if ES if tight range.

 

[K-Pia]

RE: From 1k to 500k (Deadline: 2017)



This can only be remotely achieved through equity options - not ES futures.

It's possible with ES futures. Risk 2%.
As I said, it's an average of 2 points per day.
During 160 days or so. With max 200 contracts.
It's technically as well as theoretically doable.
What's missing is an empirical validation.
That's why I am there =P

But please, tell me what's wrong ?
Other than the 2 points per day assumption...
I can see no problem for one to achieve that return.

Here's the graphic's details:
Divisor = 2500; Capital = 1000; Point = 2; Point Value = 50; Contracts =
If RoundDown[Capital / Divisor] < 1 then 1,
Else-If RoundDown[Capital / Divisor] > 200 then 200,
Otherwise RoundDown[Capital / Divisor];

Outcome = Contracts * Point * Point Value;
What's Plotted is Capital += Outcome for 160 iterations.

It gives approximately 430k.
But thanks for the insight.

PS: this is the benchmark I've plotted in the report,
The last graph, against the demo cumulative P&L.
And I beat it so I believe 2 points average is ok.

 

[Handle123]

It's possible with ES futures. Risk 2%.
As I said, it's an average of 2 points per day.
During 160 days or so. With max 200 contracts.
It's technically as well as theoretically doable.
What's missing is an empirical validation.
That's why I am there =P

But please, tell me what's wrong ?
Other than the 2 points per day assumption...
I can see no problem for one to achieve that return.

Here's the graphic's details:
Divisor = 2500; Capital = 1000; Point = 2; Point Value = 50; Contracts =
If RoundDown[Capital / Divisor] < 1 then 1,
Else-If RoundDown[Capital / Divisor] > 200 then 200,
Otherwise RoundDown[Capital / Divisor];

Outcome = Contracts * Point * Point Value;
What's Plotted is Capital += Outcome for 160 iterations (Days).

It gives approximately 430k.
But thanks for the insight.

Well, the problem you have to overcome is margin, some of the time it might be $500 at some brokers and other time due to high volatility it can be raised to $3500, and should you be in a trade where all of a sudden margin is raised and you are over margin, they can liquidate your position. Some brokers have much higher margins. So if it is $500, ten lot you will need $5,000 and one dollar below, broker will liquidate part or all of your position and could lock you out for so many days till you call them. So after one week and no losses or making less than $100, beginning of second week you can trade two lot. You have discussed your goal you seek, but nothing on having max losses, cause every loss can/will have affect on contract size.
Too many too often think in terms of gains, how about thinking in terms of losing, and is the $100 goal, is this net?