How many ES contracts you need trade average $500 profit daily?

[5Pillars]

Quote from allenhobbs:

Define "tight money management."

Cut losers fast - if they do not work out right away dump the position (within the first few minutes). Only stay in the trades that have positive movement in the direction your trading.

I will take a few trades with my signals and all I am waiting for is one that hits with some momentum. Once I can get in the money and manage the position I am all set. If all the "evidence" does not continue to support my trade, I will cut out and wait for the next signal.

With all the volatility lately, hitting 4 point and greater runs at least once or twice each day has been the norm. Keep swinging at all the good pitches and then you will get some good hits each day.

 

[allenhobbs]

Sounds nebulous.

 

[5Pillars]

Quote from allenhobbs:

Sounds nebulous.

Nope - my method is very well defined for my use, and the concept of cutting losers fast and letting winners run is well proven out by many other profitable systems.

 

[allenhobbs]

Yeah, it's older then dirt and sounds very touchy feely, i.e., discretionary.

 

[5Pillars]

My automated systems are not discretionary.

My discretionary trading is based off cumulative delta signals as one of the primary triggers.

 

[MandelbrotSet]

Quote from 5Pillars:

My automated systems are not discretionary.

My discretionary trading is based off cumulative delta signals as one of the primary triggers.

So anyway, are you putting together this trading room or not?

 

[5Pillars]

Not sure yet as I am still working on a possible prop deal here in town - should know for sure by this Friday what I will do.