Investing $15K to earn 3% per week

Will PT achieve his goal of 3% per week using $15k of starting capital?

  • Yes. 3% per week is definitely doable.

    Votes: 30 47.6%

  • Not a chance. He's nuts and doesn't know anything about trading.

    Votes: 33 52.4%
  • Total voters
    63
  • Poll closed .
Two trades yesterday (10/16) for -13.

Look like another trand down day. After the initial sell off, Mr. Market traded sideways. Oh well, it happens :-)

First Trade:
(1) +10
(1) -11

Second Trade:
(1) -12
 

Attachments

Crazy day today. Huge gap up and then a slow grind that eventually filled the gap.

Now the market is rallying--Crazy!

I tried to stay with price action today. The first trade resulted in a net loss of 4 points and the second trade profited +10 and +89.
 

Attachments

Quote from trading_fishes:

what kinda pivot points do you use? what's the formula.. i like the way you trade and I want to learn it.
More...

PivotPoint
PP = ( YestHigh + YestLow + YestClose ) / 3

Resistance Level 1
R1 = PP * 2 - YestLow

Support Level 1
S1 = PP * 2 - YestHigh

Resistance Level 2
R2 = (PP - S1) + R1

Support Level 2
S2 = PP - (R1 - S1)

Resistance Level 3
R3 = (PP - S1) + R2

Support Level 3
S3 = PP - (R2 - S1)
 
thanks presistenttrader.. I have about 7 diffrent formulas that I use with camarilla being the major one on intraday. Now I will add you formula to my trading system and see how the market reacts at those points and since I will have to manually script it.. I will just name it Persistanttraderpivots.

Anything-goes
www.daytrade-emini.blogspot.com
 
Quote from trading_fishes:

thanks presistenttrader.. I have about 7 different formulas that I use with camarilla being the major one on intraday. Now I will add you formula to my trading system and see how the market reacts at those points and since I will have to manually script it.. I will just name it Persistanttraderpivots.

Anything-goes
www.daytrade-emini.blogspot.com
More...

Sounds good!

Just keep in mind these are psychological areas of support and resistance. Thus, they are merely areas to pay attention to (ie study price/volume action) and check for confluence--confluence is the key IMO.

Good luck!
 
hey persistenttradr,
was wondering if you can elaborate about your profit taking exits. I understand you exit the first contract at +10. what type of exit / trailing stop do you usually use for your second contract?
 
also, to expand on the previous question.. how do you stay with the trend and what tells you that the trend is strong.. which obviously results in bigger profits. I have a tendency to exit all trade after 1-2 russel or S&P points as I am never sure when the trend might go against me all of a suddden... what gives you the confidence to ride it?
 
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