Is it possible to make $50 to $70 per day with a 4K account in YM ??

Quote from GTS:

Quote from showyouwang:
It occurs to me that a reason you probably would not be able to day trade markets is because you trade while you're working your job. Your attention is split between two different things. Trading isn't your job, it's your hobby.

Agreed, that is a problem but I'm not willing to walk away from an excellent paying job until I feel I have a reasonable chance to make a living from daytrading. It is a catch-22 to a degree.

The markets will move against you during the moments that you have an obligation to your dayjob, I guarantee it. So in this aspect, you could be successful at swing or position trading but not at daytrading and chalked it up that it could not be done.

Yep, it has happened many times. However having that base pay everyday certainly more then makes up for the times that the job gets in the way of trading. Your point is well taken.

Trading can be done on all timeframes. Your timeframe depends on your personality and strategies.

Very true, thanks for the post.
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OK, so you're dealing with crappy data feeds AND you have to leave your trade open when your work commitments call you away? :confused:

I'm not making fun of you but, seriously GTS what are you doing? and why do you think ANYONE reading this thread should listen to what you have to say about whether someone can make $50 on a 4k YM account or not?

Of course it's not possible FOR YOU to make $50 on a 4k YM account, hell, you can't really do anything with the setup that you have.

Jimmy Jam

P.S. If I was your Boss, I'd keep a close eye on your trading while working routine ...
 
Quote from JimmyJam:


...
(no numbnick, there isn't a direct relationship between how much money you spend on crap and how good a trader you are).
...
JJ
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Not true. Using free delayed data for RT trading is always an option. Even with multiple backup sources, cost will have a direct relationship on trading success.
 
Quote from JimmyJam:
P.S. If I was your Boss, I'd keep a close eye on your trading while working routine ...
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Don't worry, there is no chance of that - they don't allow children to work where I do.
 
Quote from GTS:

Don't worry, there is no chance of that - they don't allow children to work where I do.
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LOL, if you're referring to me as a child, you should be very embarrased that a kid can trade circles around you :D (and I solved that work situation thing a long time ago).

Later clueless,

Jimmy Jam
 
Quote from asap:

of course it is possible for a couple of days or months. maybe during a extended bull or bear market as we are seeing from 02 onwards.

but no one is able to get such return consistently years and years over covering all sorts fo market conditions without going bust at some point.

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Just going back and looking at some of the previous posts on this thread. This one really stuck in my mind of the "I cant do it then you cant do it " itis that is so prevalent at ET !!!

It really motivates me that much more to have people like this who put their limitations on others.

I especially like the phrase "BUT NO ONE IS ABLE "

Got luv it, you rascals here at ET !!
:p
 
Quote from jimmygold:

Just going back and looking at some of the previous posts on this thread. This one really stuck in my mind of the "I cant do it then you cant do it " itis that is so prevalent at ET !!!
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J-Gold,

You can do it....:D Don't look for validation here. Go for it and find out for yourself! Good luck! Keep the believers and non-believers updated.

MiniDowTrader
 
Thanks Minidow !!

I think one important point that really hasnt been mentioned is this. Many of the naysayers are saying that averaging 1% a more a day is like making 4,000 % return or whatever in a year. They are comparing stock investing, position and swing trading to Futures Trading. And this is sooo incorrect to compare these vehicles to Futures trading.

Investing, Swing and position trading is more passive income. I know because I am a swing trader. I will b uy a stock and may just sit on it for a couple of weeks. Without anymore work done on this particular play until I sell it

With YM Futures Trading it is a 6 hour or more a day job with your eyes glued to the screen. It is NOT I repeat NOT Passive Income Its EARNED Income. Scalping the eminis is a full time job and thus to compare it to returns on conventional investing or trading is like comparing apples to oranges. One is more passive while the other is more Earned Income.

Lets please acknowledge this before we continue to espouse the impossibilities of pulling in $50 or so in a day working a full time job as a futures trader. (with a 4 k account) :p
 
Well Jimmy, you sure are getting lots of feedback. I 've been at these markets for seven years nearly- I consider myself to be in learning mode, often still a jittery student ..especially aware of this when I lose.
Is 8-12 points on the YM unrealistic ? ..Not really, but if the mo is on please let 'er fly using a stop to exit rather than a market order you just might get more days off. And there are other Futures markets to explore as well. I know this is supposed to be about YM..but take a peak now and then at currency futures' charts or maybe even Gold when things are moving.
Best of results to you.:)
 
Quote from jimmygold:

Thanks Minidow !!

…. With YM Futures Trading it is a 6 hour or more a day job with your eyes glued to the screen. It is NOT I repeat NOT Passive Income Its EARNED Income …

Lets please acknowledge this before we continue to espouse the impossibilities of pulling in $50 or so IN A DAY WORKING A FULL TIME JOB AS A FUTURES TRADER. (with a 4 k account) :p
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Some people in this thread have tried to generate a debate around your original post but apparently I misinterpreted what you were looking for:


Quote from jimmygold:

….

I SWING TRADE REGULAR STOCKS AS FULL TIME LIVING and have taken up emini trading to tackle a new challenge and EARN A FEW EXTRA BUCKS ON TOP OF MY SWING TRADING PROFITS. …
Just wondering from any of you experienced ym traders or other emini traders IF THIS IS REALISTIC ??

Thanks
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I thought you wanted to earn some extra bucks on top of your profits full time trading stocks and if these extra profit targets you had were REALISTIC, but apparently you want to become a FULL TIME FUTURES TRADER.

Anyhow and despite of some insubstantial aggressive comments from few traders, I think the debate of risk vs. performance is and it always going to be open for discussion. At least in my case, I’m always interested in different point of views even if those are completely the opposite from what I assume.

I know at the end that what it counts is your own experience but I believe it’s not harmful to have a broader perspective. It’s a free plus!!!.

I think you have decided that your goal is realistic and you can do it so it’s not a point discussing this topic in these lines any further.

I hope you achieve your goals and become one of the few small (defined by less than 10k capital account) traders that can make a living trading futures.

Good luck.

jjrvat
 
Quote from jjrvat:

Some people in this thread have tried to generate a debate around your original post but apparently I misinterpreted what you were looking for:





I thought you wanted to earn some extra bucks on top of your profits full time trading stocks and if these extra profit targets you had were REALISTIC, but apparently you want to become a FULL TIME FUTURES TRADER.

Anyhow and despite of some insubstantial aggressive comments from few traders, I think the debate of risk vs. performance is and it always going to be open for discussion. At least in my case, I’m always interested in different point of views even if those are completely the opposite from what I assume.

I know at the end that what it counts is your own experience but I believe it’s not harmful to have a broader perspective. It’s a free plus!!!.

I think you have decided that your goal is realistic and you can do it so it’s not a point discussing this topic in these lines any further.

I hope you achieve your goals and become one of the few small (defined by less than 10k capital account) traders that can make a living trading futures.

Good luck.

jjrvat
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One of the most clueless posts on the thread
 
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