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

[sunggong]

Quote from Kevin Schmit:

Do all of you who think you can make 300% plus per annum
consistently really believe that you can out-trade Jim Simons
with his 150 Phd's?"
.

Ahahaaaha, man, this is funny.

So you think PhDs are smarter, better traders? That's funny.



Seriously, why do some of you people compare annual % gain potential of small retails with those at the Wall Street?

It's simply not the same.

Strategies involved in playing the market with MILLIONS of dollars vs TENS OF THOUSANDS of dollars are very different.

It's MUCH easier to average 10% per month with $20,000 than $20,000,000....

 

[JimmyJam]

Quote from BJL:

So, from your experience you believe it's possible to consistently make over 300% per annum. Does that mean you have averaged that return over the last 7 years? And why ask the question?

He did it to ask other traders her at Elite Trader what their experience was.

Trading is a very isolated activity (most of my friends don't really understand what I do, and cannot comment on it based on their own experience), and access to other traders is not that easy to come by.

At its best Elite Trader is a place, a Community Hall where traders can come together, talk shop and share their ideas, trading concepts and understanding.

While that most definitely does happen, its become all too rare these days.

Good Trading,

JJ

P.S. ... and he didn't just do it without offering something up as well. I've also found that combing Swing Trading with Day Trading to be a rather optimal combination, both psychologically and financially.

 

[BJL]

Quote from jimmygold:

Been on a simulator with YM last 2 months. Just in last couple of weeks have been steadily profitable.

Ah, I see... forget my question. You know from your experience on the simulator for the last 2 months it's possible.

 

[nastazio151]

Quote from Kevin schmit:

It is easier to make money consistently, year after year, with
a large account than with a small one.

Trading multiple modlels and strategies, it is much harder for
your mistakes to be fatal. And that is the key to consistency.

Do all of you who think you can make 300% plus per annum
consistently really believe that you can out-trade Jim Simons
with his 150 Phd's?" He makes, before fees, 60% a year,
year in and year out. And Rentec is the best there is. Do
you really think you can do five times as well trading one
contract of YM off of QuoteTracker? You're delusional!


.

Problem is 300% on 10k it's difficult but no need for stevie Cohen, 300% on 10 billions you need God in person...what seems to be missed it's 30+% on 1 Billions is more like saying returning 1000% trading your own account ...

 

[HiFreekTrader]

Quote from asap:


1.5% per day translates into over 4000% year. such return is only achievable at expense of an overwhelming risk of ruin.

If one can make on average 1.5%/day (I say nothing about whether it is actually possible or not), it is very easy to avoid "risk of ruin" altogether. Just withdraw the original invested money after your first 100% gain (47 days on average). Even if all the remaining money in the account turns to zero, you lost nothing => no ruin.

Or trade with half the sum. That way the return would be "only" 2000%, but drawdown is guaranteed to be less than 50%.

 

[asap]

Quote from HiFreekTrader:

If one can make on average 1.5%/day (I say nothing about whether it is actually possible or not), it is very easy to avoid "risk of ruin" altogether. Just withdraw the original invested money after your first 100% gain (47 days on average). Even if all the remaining money in the account turns to zero, you lost nothing => no ruin.

Or trade with half the sum. That way the return would be "only" 2000%, but drawdown is guaranteed to be less than 50%.

2000% return with just 50% drawdown. Gee, you're a genious.

 

[sulli]

Quote from Kevin Schmit:

It is easier to make money consistently, year after year, with
a large account than with a small one.
You're delusional!


.

Kevin, what's up with that period at the bottom of all your posts! It's driving me nuts! I keep thinking it's a speck on my screen. :eek:


.

 

[osorico]

Quote from Kevin Schmit:

It is easier to make money consistently, year after year, with
a large account than with a small one.

Trading multiple modlels and strategies, it is much harder for
your mistakes to be fatal. And that is the key to consistency.

Do all of you who think you can make 300% plus per annum
consistently really believe that you can out-trade Jim Simons
with his 150 Phd's?" He makes, before fees, 60% a year,
year in and year out. And Rentec is the best there is. Do
you really think you can do five times as well trading one
contract of YM off of QuoteTracker? You're delusional!


.

First of all, why would anyone compare their trading to anyone elses? Trading is individualistic. Styles, tolerances, instruments, goals, systems, etc.

Second, as I said, large accounts can't concentrate, they must diversify, and because of size, they don't day-trade. Even if they do daytrade, it would only be a very small portion of the total portfolio. Percentage returns from daytrading would be insignificant in reference to total portfolio. Based on diversification, I concede it's less likely all positions go awry. But I'm flat at eod, everyday. And on any given day, my total exposure to market risk is usually less then 3 hours. I trade all day, but few trades are held longer than 20m. Based on market exposure, less is better, imo.

Third, I go for 300% per month!! Not per annum. 8% (80$) per $1000 of account value per day. And I don't care if it comes in 1 trade or 100 trades in a day. The key is concentration, not diversification, and risk management. I intentionally rebalance my account to avoid the pitfalls of large... I'm not trying to be Simons. BTW; volente wants to bet he can take 4K to 19K in 30 days. Knowing what I know, it's a suckers bet.

Comparing yourself to other traders makes you delusional.

 

[jimmygold]

Quote from JimmyJam:

He did it to ask other traders her at Elite Trader what their experience was.

Trading is a very isolated activity (most of my friends don't really understand what I do, and cannot comment on it based on their own experience), and access to other traders is not that easy to come by.

At its best Elite Trader is a place, a Community Hall where traders can come together, talk shop and share their ideas, trading concepts and understanding.

While that most definitely does happen, its become all too rare these days.

Good Trading,

JJ

P.S. ... and he didn't just do it without offering something up as well. I've also found that combing Swing Trading with Day Trading to be a rather optimal combination, both psychologically and financially.

Exactly, JJ !! I think if you read my last comment here I specifically said that I knew I originally asked this as a question but I was really more or less trying to start a dialogue with others and get their experience.

 

[Boib]

Quote from jimmygold:

Been on a simulator with YM last 2 months. Just in last couple of weeks have been steadily profitable. And I am becoming very comfortable with developing my methodology in trading this vehcle.

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. Plus, I sit around all day waiting for swing trades to come to fruition so I have some freed up time to do the emini. And YM is closest to my style of trading

I am starting out with just a small account for right now of about 4k in YM and look to consistently earn after commissions about $55 to $65 per day !!

I would be esctatic to be able to accomplish this. I know its not alot but it really would be like found money for me on top of my regular trading profits.
And I have been working extremely hard and diligently in approaching and studying YM Trading in the last few months..

Just wondering from any of you experienced YM traders or other emini traders if this is realistic ??

Thanks

Whaty type of trading are you doing with the sim?
Scalping or swing?
How many trades per day?
What was your biggest drawdown?