making one point a day?

People,

I just joined to find a way to get the
software mentioned as Sierra which
would contain Fibbonacci alerts on
the charts. But haven't seen where
it's offered (free or for $$).
Can some nice person helf me on
this?

JohnWaller
Sunday
 
Quote from virgin:

There is no speed difference in executing a 100 lot or 1 lot
market order.
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Man, on what exhange you are executing your E-mini's ??!!

Don't think this needs further comments.

There is definitely a difference between 1 and 100 contracts. But you have to trade them to know it.

I already experienced the difference.
 
Hi i am new here and plain damn

i d'like to say that nitro is 100% RIGHT

ofcourse none of the poster that desegree with him has to admit to that,maturity is the sign

and thanx nitro for telling like it is
You make the diffrence
 
Quote from protrader-2K5:

Is it possible to make one point a day on one trade?

I am looking at a system that can make one ES point. One trade per day.
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I don't think too many have actually attempted to answer this question as people have got somewhat sidetracked on this thread.

The difficulty with making 1 point a day on 1 trade are your drawdowns or when you are wrong. No trader has 100% wins so some days would be losers and since you're only doing 1 trade per day you wouldn't make 1 point a day everyday. Moreover, on your losers how much would you lose? Even if your entry is very precise, it is hard to limit all of your losses to 1 point unless you are very arbitrary about it. And if losses are more than 1 point then the R:R is less than 1:1 which isn't exactly ideal unless your win percentage is very good.

I think it would be better to look for high probability trades with a good R:R.

It is definitely possible to make more than 1 point a day (on average) consistently on the ES and that is what successful ES traders do.

My advice would be don't focus on profits, but developing an edge with a positive expectancy and then trading that edge consistently.
 
Quote from LondonUSTrader:

...
My advice would be don't focus on profits, but developing an edge with a positive expectancy and then trading that edge consistently.
More...

Very good advice.
Find out what you are able to make; and try to improve it afterwards.
Focus on not losing instead of winning. If you can manage yhe losses, the profits will come automatically.
 
Quote from LondonUSTrader:



It is definitely possible to make more than 1 point a day (on average) consistently on the ES and that is what successful ES traders do.

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Perhaps it is, but I have not been able to achieve it... personally, my long run average is 0.5pt on ES per contract per day... and I have a very nice living off this... further profits are made in position trades and overseas markets...

I agree, LondonUSTrader, with much else of what you say though...
 
I also trade other contracts but looking at the average margin I use and assuming that ES is about as good or bad as my other contracts since 1998 my average daily gain is 20-30 Dollar per day after commish. I am trading 100% discret. , no mechanical system, and very often, I don't acknowledge my stops (which is as often good as wrong). I think with a little more discipline, 60-80 Dollar per contract may be possible. Making more than 100$ per contract as average seems quite hard to achieve in my view.
I met a lot of traders who claimed to make 3-4 points average per ES per day and the funny thing is that most of them don't trade any more now. I came to the conclusion not to believe anybody unless I can see his account statements for at least 1 year.
I also have days, averaging 2x daily range per contract and could post that statements to get people admire my wonderfull trading, but sadly enough I also have days averaging minus 2x daily range per contract and in the end only the average on all days count.
Just my 2 cents.

Top
 
Quote from LondonUSTrader:

I don't think too many have actually attempted to answer this question as people have got somewhat sidetracked on this thread.

The difficulty with making 1 point a day on 1 trade are your drawdowns or when you are wrong. No trader has 100% wins so some days would be losers and since you're only doing 1 trade per day you wouldn't make 1 point a day everyday. Moreover, on your losers how much would you lose? Even if your entry is very precise, it is hard to limit all of your losses to 1 point unless you are very arbitrary about it. And if losses are more than 1 point then the R:R is less than 1:1 which isn't exactly ideal unless your win percentage is very good.

I think it would be better to look for high probability trades with a good R:R.

It is definitely possible to make more than 1 point a day (on average) consistently on the ES and that is what successful ES traders do.

My advice would be don't focus on profits, but developing an edge with a positive expectancy and then trading that edge consistently.
More...

It seems that this is one of systems that produces 1 or 2 points a day, but maybe too soon to tell.

http://www.collective2.com/go/foxeminiopen
 
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