How much % a day is possible.

[bighog]

People that say ET folks are blowing smoke are kind of negative to be dabbling in a profession that requires self esteem and becoming willing to be as honest as possible in facing the real facts of life, that BEING ABLE TO FACE DOWN FALSEHOODS. (how many have trouble closing a losing trade as fast as possible? )

Here is a truth: many winning traders are not even known, many winners do not dabble in forums, chats etc because it is just not their style. It is a fact that many that DO dabble in forums etc do it mainly looking for guidance etc.

Sure, some that post are full of themselves and are doing more wishing and hoping that Dusty Springfield did when she sang the song. (Dusty made money "Wishing and Hoping" HA )

To the question at hand: For ES traders (per car) the daily goal should be a minimum of 5 handles (as an average, no trader will get 5 a day, some zero, some 10 or more ). The thread starter says 2 and a 1/2, very good call. i say 5 handles because that is my daily goal and speaking from experience that 5 number is a minimum because it FORCES a daytrader to daytrade as a position trader. (read, look for the intraday swings and do not just add up ticks, adding up ticks is an exercise in futility and is wonderful for the commission merchants.

Hint: One "K" a day keeps the bill collectors away. Have 50k in acct, that will allow doing 10 cars intraday easy. At end of month sweep booked profits from account and start each new month with the NUGGET account (50k). (ya i know some will say, compound this and become a billionaire (ha), look, screw compounding, what a TRADER needs to do CONSTANTLY is HONE the skills. That sound silly? not really, many never get to be so relaxed, else why would some of us attempt to help others by posting in a forum?.... :eek: LOOK, for each cae in ES 5 handles (on average) a day is not that hard at all, review a years worth of 5 min ES charts and see for yourseld.

 

[Bitstream]

ror, .5% a day is the whole bell to close session these days. doubt anyone can achieve that consistently. on stocks it's a whole another matter.

Quote from late apex:

Not sure where you got $26,666. If that's the account balance (to be comparable with your equity example), at 40:1 leverage that's actually around $850-$1,060 a day.

The "8-10 pips a day" part (and more) is very realistic, at moderate leverage. The same combined with 40:1 leverage is anything but... that's a completely different ball game. You'd be nearly doubling your money every month.

In forex, 0.5% a day over time is outstanding, in my book.

 

[late apex]

Quote from rateesquad:

Maybe my calculations were wrong. I used Oanda to calculate it. based on 26,666 a trade, the result would be $2 a pip. Maybe the leverage was less. Have to re-do the calculation.

No, if that's the trade size, then that's absolutely correct. But what's the significance of using trade size as small as 20K EUR/USD, to estimate potential daily P&L? It isn't comparable with your equities and futures examples.

 

[IV_Trader]

too funny...I just visited Collective2...they tracking about 3000 systems and only FEW ( with age > 52 weeks) per any type are "profitable"...
Welcome to ET where everyone is profitable !

 

[late apex]

As far as I can see, about 480 systems on C2 with track record over 1 year are profitable (W:L > 1), rather than a "few." That's out of about 900 1-year+ systems, a 53% profitable subset.

Agree about ET, though. Of course, all online forum polls are self-selective by design, and therefore of somewhat limited value in terms of estimating true population statistics...

 

[rateesquad]

No, the reason why I started this was basically only for psychological reasons. Psychology study that is. Maybe, the poll is wrong by design b/c I cannot prove how much the individual is making. But, it is solely for psychological reason. Although I still want to see how retail traders think they do.

 

[IV_Trader]

results will be drastically skewed to positive , because only active / successful / still in biz traders will reply . ET shows about 62k registered members , if 50k of them "tryed and lost' they will not participate in this poll. Same goes for C2

 

[rateesquad]

Quote from IV_Trader:

results will be drastically skewed to positive , because only active / successful / still in biz traders will reply . ET shows about 62k registered members , if 50k of them "tryed and lost' they will not participate in this poll. Same goes for C2

Well, 1/4 of people participating in the poll admit to losing money.

 

[Trader666]

ROFL! The only slush is inside your head.

Quote from jack hershey:

So to be effective and efficient my target is 2 1/2% per day for the total capital in the streams I trade. The hit ratio is usually 7 out of 8 and the 1 in 8 is dumped really early into slush.

 

[makosgu]

Quote from jack hershey:

...For stocks, the offer per day (for position or swing trading) is usually around 5% for quality stocks which are abundant and determined before open. So to be effective and efficient my target is 2 1/2% per day for the total capital in the streams I trade. ...

I AGREE with what jack posts here! This happens everyday without fail. Prescreening before the day begins just makes your monitoring that much easier. Unfortunately, I man turretts and have to keep my eyes peeled in several markets. However, 2.5% if you subdivide the entire market into sectors, that 2.5%+ will always be present in several sectors. Both jack and I know what 2.5% mean. We cut back on the meaning because it is unfathomable to all, as typified by said person above, but a minute few as to what 2.5% is. A weekly swing is a 15%+ transaction. When I'm lazy or too busy, I swing. However, the juice is in the exponential of the daily position. The exponential of the swing cannot compete.