Has anyone ever made money with ES minis?

stock_trad3r · Jan 30, 2014

yea a rhetorical question. Obviously some do make money but majority lose. It would be nice if there were a smaller contract with a $25 point so it would be easier to scale into winning positions

It would seem making money on the long and short from these contracts is impossible. Yesterday went long just a single contract around 1796 and was down $1500 by the end of the day..yea they fall really fast. TO recover the loss I had to write covered facebook contracts which thankfully surged surging earnings but now I have to decide what to do with the contract. Do I sell it? Let it ride or write more covered calls to cover more losses? The market has fallen considerably...we have to get a bounce eventually. I can't imagine how people go long 10 or more....may as well just light your money on fire

badnewsbear · Jan 30, 2014

Nick Leeson would like to have a word with you, mate.

guido · Jan 30, 2014

You have more than 10000 posts...and you make this kind of questions.. is a joke isn't it?

dbphoenix · Jan 30, 2014

stock_trad3r said:
yea a rhetorical question. Obviously some do make money but majority lose. It would be nice if there were a smaller contract with a $25 point so it would be easier to scale into winning positions

It would seem making money on the long and short from these contracts is impossible. Yesterday went long just a single contract around 1796 and was down $1500 by the end of the day..yea they fall really fast. TO recover the loss I had to write covered facebook contracts which thankfully surged surging earnings but now I have to decide what to do with the contract. Do I sell it? Let it ride or write more covered calls to cover more losses? The market has fallen considerably...we have to get a bounce eventually. I can't imagine how people go long 10 or more....may as well just light your money on fire

Yesterday went long just a single contract around 1796

Why? Because you have a consistently-profitable trading plan that told you to do so? If not, what did you expect?

llIHeroic · Jan 30, 2014

Are you asking an honest question with a desire to learn and improve, or trying to vent/find sympathy? I suppose your response will soon shed light on the issue. I'll give you the benefit of the doubt, though.

stock_trad3r said:
It would seem making money on the long and short from these contracts is impossible.

If making money long or short seems impossible, you have to realize that you have a serious problem. Completely random entries into the correct direction of a trend will make money. The problem is that you don't know down from up, and until you admit that, you won't be able to improve.

It's even displayed in the language you use. There is a huge difference between saying, "It seems like making money on these is impossible" from saying, "It seems like making money on these is impossible for me. I don't know how to do it."

Yesterday went long just a single contract around 1796 and was down $1500 by the end of the day..yea they fall really fast. TO recover the loss I had to write covered facebook contracts which thankfully surged surging earnings but now I have to decide what to do with the contract.

You don't have to recover your losses. I lost $500 playing roulette to I had to bet $100/hand on Blackjack to recover, thankfully I was getting dealt good hands. This is a peripheral psychological issue, but it's not what your asking about.

Do I sell it?

Obviously you should close it. You should immediately close any trade when you don't know exactly what the instrument is doing, why you opened a position, and when you will close it. Doing otherwise will continue to damage your mind regardless of whether the position is profitable or not.

volente_00 · Jan 30, 2014

you bought a 8 point gap up in extended hours after a 30 point move up before a fed meeting with no trading plan or stop ?

Lucrum · Jan 30, 2014

stock_trad3r said:
yea a rhetorical question. Obviously some do make money but majority lose. It would be nice if there were a smaller contract with a $25 point so it would be easier to scale into winning positions

It would seem making money on the long and short from these contracts is impossible. Yesterday went long just a single contract around 1796 and was down $1500 by the end of the day..yea they fall really fast. TO recover the loss I had to write covered facebook contracts which thankfully surged surging earnings but now I have to decide what to do with the contract. Do I sell it? Let it ride or write more covered calls to cover more losses? The market has fallen considerably...we have to get a bounce eventually. I can't imagine how people go long 10 or more....may as well just light your money on fire

You've been here since 2006, and you're still writing this amateurish shit?

GoldenMember · Jan 30, 2014

Lucrum said:
You've been here since 2006, and you're still writing this amateurish shit?

Not everyone gets wiser with time, some just get older.

Captain Howdy · Feb 1, 2014

volente_00 said:
you bought a 8 point gap up in extended hours after a 30 point move up before a fed meeting with no trading plan or stop ?

Isn't that how all the pros do it?