Is it possible to consistently make $5000 a month trading 2 index futures contracts per trade ?

Made $14.8K on NQ trading sim. Just to see if it's possible. Today is a trendy day so I'm comfortable loading the boat for testing and seeing what's possible. Before I was just sim trading 5 lots. Today significantly more.
 
comagnum said:
If they don't withdrawal any $ than the next month they will need to make less next month (33%) and so on. The OP appeared like they were interested in trying to live off a $10k acct by making $5k per month to cover their living expenses, at least that's usually the case with these type of questions.

If the OP reinvests all of their profits the goal is much more obtainable than trying to make $5k on a $10k acct, while taking out $5k each month to live on - which is a sustainable ROR of 600% (with quarterly taxes it would be much higher) - I don't think so.
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Yes that is true, its not for the average Joe anyway. Not sure why anyone would want to trade with only $10k and have to withdraw and spend $5k a month, sounds like a quick way to burn out.
 
comagnum said:
If they don't withdrawal any $ than the next month they will need to make less next month (33%) and so on. The OP appeared like they were interested in trying to live off a $10k acct by making $5k per month to cover their living expenses, at least that's usually the case with these type of questions.

If the OP reinvests all of their profits the goal is much more obtainable than trying to make $5k on a $10k acct, while taking out $5k each month to live on - which is a sustainable ROR of 600% (with quarterly taxes it would be much higher) - I don't think so.
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First rule: Never trade with money you cannot afford to lose.

So wanting to take 5K a month is already the first big error. It means he used money he cannot afford to lose.

If he would wait 2 months before starting to take 5K a month, he would only need to make 3 points a day in stead of 5. A HUGE difference. If he can wait 5 months he only needs to make 1 point a day.
A trader should be able to do basic logical math to see what his options are starting from his financial situation. Most trader never do these calculations, they just start to trade.
 
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nickynoes said:
Yes that is true, its not for the average Joe anyway. Not sure why anyone would want to trade with only $10k and have to withdraw and spend $5k a month, sounds like a quick way to burn out.
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I have no issue with this, I'm on the same page, obviously this is the dream I'm working towards have been for years when I get the time, just got to get good and the tricky part stay good.
 
I purchased two NASDAQ contracts this morning and I could have sold a few minutes ago for over $1,000 profit, so it is definitely possible if you make the right decision on the movement each day. On days that don't move in one direction significantly you will have to make more trades. I like to let mine run on days like today.
 
Nice trade...congrats

TN Trader said:
I purchased two NASDAQ contracts this morning and I could have sold a few minutes ago for over $1,000 profit, so it is definitely possible if you make the right decision on the movement each day. On days that don't move in one direction significantly you will have to make more trades. I like to let mine run on days like today.
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TN Trader said:
I purchased two NASDAQ contracts this morning and I could have sold a few minutes ago for over $1,000 profit, so it is definitely possible if you make the right decision on the movement each day. On days that don't move in one direction significantly you will have to make more trades. I like to let mine run on days like today.
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1 day is just lucky, 50/50 shot, it's the day that goes against you and you let it run against you, or you exit at a loss too soon thinking it's going to run against you, but then it turns any still goes your way, those 2 added together wipe out all gains and more sadly.
 
Turveyd said:
1 day is just lucky, 50/50 shot, it's the day that goes against you and you let it run against you, or you exit at a loss too soon thinking it's going to run against you, but then it turns any still goes your way, those 2 added together wipe out all gains and more sadly.
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Exactly! Today was a great day. But right now I'm suffering on oil futures.
 
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