Also, I don’t think he would be able to do it with stock index futures.
What DD are you willing to live this on your journey to 1M?
From Micros to Millions: 2% per day
- Thread starter sstheo
- Start date
With the covid economy and election year, your task should be like a walk in a park.
(I mean Central Park(NYC) at night time...
P.S. Make sure you avoid the pussy MES and only trade the robust MNQ.
(I mean Central Park(NYC) at night time...
P.S. Make sure you avoid the pussy MES and only trade the robust MNQ.
You will fail and blow up. Remember the words of Jesse Livermore:
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”
You say you are aiming for 25 trades per day/500 trades per month?
You will be paying $2000 commissions per month ($24,000 per year) on a $10,000 account
If your account reaches 50K you will be paying $10,000 a month in commissions.
AMP and CME are going to love you
Really the odds of your success are close to zero with that kind of overhead to over come, but good luck anyway.
You will be paying $2000 commissions per month ($24,000 per year) on a $10,000 account
If your account reaches 50K you will be paying $10,000 a month in commissions.
AMP and CME are going to love you
Really the odds of your success are close to zero with that kind of overhead to over come, but good luck anyway.
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Time changes.
The mighty computing powers offer intelligent traders a huge advantages that is way far significant than most people can realize. Goldman Sachs demonstrated they can profit almost every day with only a couple losing days in a year (professionals); and if you truly know how to explore the huge capacity and potential of the ever advancing computing power, you can do very well in this market, that all the genius traders could not ever imagine in their time.
Are the profit numbers after commissions and exchange fees ?
Were you able to negotiate a low commission rate with AMP ?
What is the percentage of the gross profits that are reduced by commish and fees ?
BTW: Your table has an incorrect date....Monday is the 19th, not the 18th.
You think GS edge comes from computing power?
Based on what he said in his opening post that when he reaches $10,000 and he can trade 1 full size emini lot.
He reckons he can average $30 per trade per mini lot and make 500 trades per month.
$30 net dollars per trade x 500 trades per month = $15,000 net per month per 1 mini ES lot.
Thats after paying about $2000 a month in commission per 1 lot (500x $4)
Cloud cookoo land really, but good luck he might be that 1 in 100,000 person who can do it (consistently make $17,000 a month trading 1 ES lot).
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Obviously, in Livermore's time, there were no HFT bots. Overtrading (scalping for ticks) is a known downfall to traders and a major incentive to make a trading bot of which obviously, a few on ET have managed to achieve.
(HFTs do not pay the same commission as you pay on AMP! They trade hundreds of thousands RT every day! They do not get sleepy, emotional, or need coffee)
Manual trading and overtrading(scalping for ticks) are like smoking crack and trading. Your chance (as a non-programmer) to make a bot successful might be lower than learning to swing trade ES properly!
P.S. just announcement to contradict myself, I have enrolled in the free algotrading course and learning Python for the IB gateway. I am an old fart (semi retired), ex programmer, so this is doable albeit will not easy.
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