The contract you are trading is not 4k. It is nearly 70 k in value so making 15 k return on a 70k investment is not abnormal.
Is it possible to make $50 to $70 per day with a 4K account in YM ??
- Thread starter jimmygold
- Start date
The contract you are trading is not 4k. It is nearly 70 k in value so making 15 k return on a 70k investment is not abnormal.
1. THOSE are the relevant numbers, you like it or not.
2. He can always restart the account. Atleast blowing it gives a good reality check.
3. After losing 700 points he can see a trend. A loser can lose 2000 or 5000 points, it just takes MORE time...
4. One important thing is not to forget, commission. Let's say he has a breakeven month with 100 trades. For the next month he will only have 600 points to lose...
2. He can always restart the account. Atleast blowing it gives a good reality check.
3. After losing 700 points he can see a trend. A loser can lose 2000 or 5000 points, it just takes MORE time...
4. One important thing is not to forget, commission. Let's say he has a breakeven month with 100 trades. For the next month he will only have 600 points to lose...
Another point to think about is if he has only 4k, he will be less likely to take high risk trades in order to preserve his capital versus the illusion a 40k account will give him for the same loss. The bottom line is "Don't ever let anyone tell you what can be done". Fund your account, and go big or go home. He will either make money or get a 4k education on how not to lose as much money in the future.
This is a very good point, I also wanted to add. If he has 10K or more in the account, he can get tempted to play more than just 1 contract, thus increasing his leverage and risk, and more likely to blow up.
There is a saying that you have to earn to play with more contracts. And that honour can be earned only with the steady and consistent growth of your account...
Geezus, JJ is right... you guys are tools!
As of 10:27 est,
5 trades, 20 contracts total, average 8pts NET per car. Total of 17min market exposure. You do the math.
I'd post my blotter but why? I'd only be accused of photoshopping it. Same result as me merely stating the results but without copy/paste work.
Have a nice day.
Osorico
As of 10:27 est,
5 trades, 20 contracts total, average 8pts NET per car. Total of 17min market exposure. You do the math.
I'd post my blotter but why? I'd only be accused of photoshopping it. Same result as me merely stating the results but without copy/paste work.
Have a nice day.
Osorico
JJ,
Iâm amazed about your viewpoint on statistics. I donât want to exaggerate about the importance of statistics in the financial markets, but rejecting even the simple statistical facts is inaccurate and it can lead to false expectation of getting rich too easy.
Consciously or unconsciously, even the basic entries, exits and strategies (MA crosses, oscillations, trendlines, fundamentals or even trading the news, etc ,etc) for trading or investing are based on the expectation of some kind of statistical probability of the price moving in the direction you traded (or guessed). If one canât clearly understand this fact, definitely does not understand the logic behind trading.
But going back to the topic, people in this post have just expressed some warnings about the likelihood of achieving your goals with only small capital. As me and other people have said before, aiming for $60 per day trading the YM is possible but be careful when trying to catch a big fish with a small boatâ¦
jjrvat
I think it is not possible and I'll explain why.
Brokers, like all gambling operators, need their customers to believe that winning big is possible.
If there were just one account making 1.5% a day over long time, the broker would not pass such an opportunity to advertise its business. We would see huge billboards along all major roads bragging about this.
There are no such billboards. Therefore, there are no such accounts.
Brokers, like all gambling operators, need their customers to believe that winning big is possible.
If there were just one account making 1.5% a day over long time, the broker would not pass such an opportunity to advertise its business. We would see huge billboards along all major roads bragging about this.
There are no such billboards. Therefore, there are no such accounts.
OK, OK.
Let's change the quote to "when the stats are provided by guys who don't know how to day trade the YM emini, yeah, I'm pretty critical of them".
Is that better for you, Mr. 30% per annum?
Laughing my ass off.
***
No seriously, just admit you don't know what the hell you're talking about, leave it alone, and go back to your 30% per annum, secure in the knowledge that you're outperforming the majority of the non-leveraged stock investors ... :eek: .
Jimmy Jam