Do tell.
From Micros to Millions: 2% per day
- Thread starter sstheo
- Start date
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.
Indeed, AMP and the CME have already sent me thank you cards for pushing so hard on the micros with everyone I know. The micros on some days are now equal to their mini counterparts in volume! And despite the increased commission ratio, the micros were the most successful product launch in the history of the CME. True, I will probably spend a fortune, but the goal is to get off of them asap. It should only be a few more weeks.... In the mean time, they are serving a great purpose.
Ever heard of Milo of Croton? He was a 6x ancient Greek Olympic wrestling champion and all-around tough guy. He became famous for his "progressive overload" training method:
Perhaps Milo's feats of strength lift the calf and eventually the bull each day are just a myth. But progressive overload is all I am doing here with this account.
https://meetzann.wordpress.com/2019/06/20/consistency-the-short-story-of-milo/
The volume on the MNQ has been exceeding the NQ for months and months now. The MES is close. MYM not so much, and I have not been following Russel and the M2K bit at all, so no idea on that one.
When i said you will be paying a fortune i was not refering to the micros.
Even with 1 emini lot per trade you will pay a small fortune if are taking 500 trades per month.
500x$4 = $2,000 on a 10K account.
On a 50K account (assume you trade 5 lots) you will pay 500x5x$4 = $10,000 per month
500x$4 = $2,000 on a 10K account, a $200,000 account, or a $2,000,000,000 account. What is the point?
20% per month, or 240% a year is a high hurdle to overcome.
It doesnt sink in when its just $1000 a month, on a 5K account, that seems like an easy hurdle to beat.
"Cloud cookoo land" has been my home for some time. Your math looks correct. And it will be fun once I get to that first ES contract. And I won't stop with one. But $20k looks pretty far away still.
Bah, forget the percentages, or ROI based on account size! That's paper-trading BS. Academia at it's worst!
If he can make a profit each month, who the hell cares how much he pays in commissions? If the system gets worked out, he can work on the cost efficiency LATER. That's just little details.
ok, lets just ignore the minor detail that he will be paying 240% per year in commissions and fees
ok, lets just ignore the minor detail that he will be paying 240% per year in commissions and fees
Yer too fixated on the percentage thing.
I mean, you said it yourself...
..."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..."
You see that underlined and bolded bit? How much would you pay to make $15K per month? $2K? $5K? etc. What is the problem?
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