How much do you pay yourself

[Steve Tvardek]

Overnights allow you the opportunity to make much bigger gains, but of course bigger losses as well. Trading intraday does limit your potential but also gives you much less risk and piece of mind (you can sleep at night knowing you dont have anything at risk).

So there are positives and negatives to both.

Quote from cashmoney69:

Yea, which is why I started this thread. I might make a nice gain in the first three days, then watch it melt away to nothing, then the next three days might be double, and the next three days might reduce all gains to zero. When you hold overnight you put yourself at the mercy of the market, but when you scalp, you instantly know what you p/l is at any moment.

 

[scalper21]

Quote from cashmoney69:

So you hope that the more volume you trade each week, you'll = higher $$ returns?. Am I understanding you right?

250-1000 is # of trades. This is not my weekly volume. If I am trading 1 lots my weekly volume would be 250-1000. If I am trading 5 lots then my weekly volume would be 1250-5000.

I am providing the # of trades I make in a given week to show you my activity. You say you are a swing trader. It might take you 2 months to make 250-1000 trades.

My goal is to profitable everyday. If I lose money by the end of the day it is because I traded poorly.

If I only averaged 10 trades a week I could not guarantee you that I could cut a check each week.

 

[scalper21]

Quote from cashmoney69:

Yea, which is why I started this thread. I might make a nice gain in the first three days, then watch it melt away to nothing, then the next three days might be double, and the next three days might reduce all gains to zero. When you hold overnight you put yourself at the mercy of the market, but when you scalp, you instantly know what you p/l is at any moment.

Exactly. That is why it is easier for me to cut a check every Friday. I could not swing trade.

 

[cashmoney69]

If you ask for a $ 100.00 check, how much does the broker take out for taxes?, or is that already taken out of your account when you cover / sell your position?

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It'd be nice to get some swing traders and position traders on this thread.

PS scalper21

Does it ever get tempting to go for the $1.00 gain rather than the .10 cent gain?..from day one, you've always been a scalper?

 

[mschey]

Quote from cashmoney69:

If you ask for a $ 100.00 check, how much does the broker take out for taxes?, or is that already taken out of your account when you cover / sell your position?

--

It'd be nice to get some swing traders and position traders on this thread.

PS scalper21

Does it ever get tempting to go for the $1.00 gain rather than the .10 cent gain?..from day one, you've always been a scalper?

If you pull out $100 from your account, you get $100. Taxes are your responsibility, not your brokers.

 

[rjv27]

Quote from cashmoney69:

Yea, which is why I started this thread. I might make a nice gain in the first three days, then watch it melt away to nothing, then the next three days might be double, and the next three days might reduce all gains to zero. When you hold overnight you put yourself at the mercy of the market, but when you scalp, you instantly know what you p/l is at any moment.

I know people that scalp that have the same issues that you have with the volatility of their P&L. The good news is you know how to make money, but the bad news is there are some issues with your risk management.

Of course if you hold overnights you put yourself at "the mercy of markets", this is nothing new. Excuse? It's just something that you have to factor in if you want to swing trade and be consistent.

 

[scalper21]

Quote from cashmoney69:

If you ask for a $ 100.00 check, how much does the broker take out for taxes?, or is that already taken out of your account when you cover / sell your position?

--

It'd be nice to get some swing traders and position traders on this thread.

PS scalper21

Does it ever get tempting to go for the $1.00 gain rather than the .10 cent gain?..from day one, you've always been a scalper?

I trade emini futures. Sometimes I will make a couple of ticks sometimes a couple of points. There is more than enough intraday movement to get on some decent moves. The key is not what I make, but what I lose. Hopefully by the end of the day all my losers are a couple of ticks.