never had i thought slippag3 would be a huge issue in trading ES

ironchef said:
No.

DCA.
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Good Morning ironchef,

My Friend, I am ES Futures Market Master Trader and will make tons of money.

I do not understand what you are talking about man.

What is your question for me?

Whatever your question is for me regarding trading, I have no answer for you, just watch this video below:

I watched this video and similar like it to learn to be an ES Master Trader.

You better get your ass busy, or get out this market. It is not for the weak peasants.

 
SimpleMeLike said:
Good Morning ironchef,

My Friend, I am ES Futures Market Master Trader and will make tons of money.

I do not understand what you are talking about man.

What is your question for me?

Whatever your question is for me regarding trading, I have no answer for you, just watch this video below:

I watched this video and similar like it to learn to be an ES Master Trader.

You better get your ass busy, or get out this market. It is not for the weak peasants.

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I hope you are not the buffalo.

No sir, for me, my ass is busy, not day trading ES future or day trading stock index or stocks, it is gambling with stock options. :p
 
ironchef said:
Just curious, why is getting rich so important?
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Good Morning ironchef,

Why do I think this way?

Because I was extremely poor for the first 18 years of my life, and in those 18 years I saw some of the worst things in my life and very bad experiences due to be extremely poor. Everyone around me had severe lack of money issues.

The only people I saw having fun with no issues, was people with a lot of money.

Being poor causes too much pain.

The only relief of pain is money. Being rich is all that matters to me.

Money solves ALL my problems and gives me ALL my happiness.

Nothing else matters to me. Period!

With ALOT of money, I can do anything I want to do.

The ES futures market is heaven sent for me, when I first heard of the ES market I thought it was scam. I could not believe there is a place in the USA where me (a black man) can make money legally anytime I want and no one can steal it from me. I know this sounds weird to some people, but for me, I could not believe it. I can actually make $100 in a few minutes and it is legal. No racism, no mis treatment for making the $100, no-one robbing me for making the $100. making the $100 was purely my own knowledge. All I had to do was pay taxes on the $100. No-one can take it from me. When I grew up poor, I witness alot of wolves stealing money from people and even some wolves mistreating honest hard working people for no reason, simply because of racism. Grown men and grown women, losing their job simply because a manager did not like them because of their color of their skin. I witness that over and over and over and over again growing up. I brought a lot of fear to me and I was always caution of that. So when I found the ES market, it was heavn sent. I did not have to sale drugs to be a millionaire. I knew so many people selling drugs and getting caught and doing many years in prison. And here is the place called ES, I can simply click all day and make money, legally. AND I can be rich.

I hope that answers your question. If not, let me know.
 
SimpleMeLike said:
Good Morning ironchef,

Why do I think this way?

Because I was extremely poor for the first 18 years of my life, and in those 18 years I saw some of the worst things in my life and very bad experiences due to be extremely poor. Everyone around me had severe lack of money issues.

The only people I saw having fun with no issues, was people with a lot of money.

Being poor causes too much pain.

The only relief of pain is money. Being rich is all that matters to me.

Money solves ALL my problems and gives me ALL my happiness.

Nothing else matters to me. Period!

With ALOT of money, I can do anything I want to do.

The ES futures market is heaven sent for me, when I first heard of the ES market I thought it was scam. I could not believe there is a place in the USA where me (a black man) can make money legally anytime I want and no one can steal it from me. I know this sounds weird to some people, but for me, I could not believe it. I can actually make $100 in a few minutes and it is legal. No racism, no mis treatment for making the $100, no-one robbing me for making the $100. making the $100 was purely my own knowledge. All I had to do was pay taxes on the $100. No-one can take it from me. When I grew up poor, I witness alot of wolves stealing money from people and even some wolves mistreating honest hard working people for no reason, simply because of racism. Grown men and grown women, losing their job simply because a manager did not like them because of their color of their skin. I witness that over and over and over and over again growing up. I brought a lot of fear to me and I was always caution of that. So when I found the ES market, it was heavn sent. I did not have to sale drugs to be a millionaire. I knew so many people selling drugs and getting caught and doing many years in prison. And here is the place called ES, I can simply click all day and make money, legally. AND I can be rich.

I hope that answers your question. If not, let me know.
More...
Very good answer.

I now understand your position and your view.

I wish you the best and with your drive you shall overcome.
 
SimpleMeLike said:
Good Morning ironchef,

Why do I think this way?

Because I was extremely poor for the first 18 years of my life, and in those 18 years I saw some of the worst things in my life and very bad experiences due to be extremely poor. Everyone around me had severe lack of money issues.

The only people I saw having fun with no issues, was people with a lot of money.

Being poor causes too much pain.

The only relief of pain is money. Being rich is all that matters to me.

Money solves ALL my problems and gives me ALL my happiness.

Nothing else matters to me. Period!

With ALOT of money, I can do anything I want to do.

The ES futures market is heaven sent for me, when I first heard of the ES market I thought it was scam. I could not believe there is a place in the USA where me (a black man) can make money legally anytime I want and no one can steal it from me. I know this sounds weird to some people, but for me, I could not believe it. I can actually make $100 in a few minutes and it is legal. No racism, no mis treatment for making the $100, no-one robbing me for making the $100. making the $100 was purely my own knowledge. All I had to do was pay taxes on the $100. No-one can take it from me. When I grew up poor, I witness alot of wolves stealing money from people and even some wolves mistreating honest hard working people for no reason, simply because of racism. Grown men and grown women, losing their job simply because a manager did not like them because of their color of their skin. I witness that over and over and over and over again growing up. I brought a lot of fear to me and I was always caution of that. So when I found the ES market, it was heavn sent. I did not have to sale drugs to be a millionaire. I knew so many people selling drugs and getting caught and doing many years in prison. And here is the place called ES, I can simply click all day and make money, legally. AND I can be rich.

I hope that answers your question. If not, let me know.
More...
Thank you and good answer. :thumbsup:

I can understand and appreciate your position and I applaud your determination to create a better life.

Take care, I know you shall overcome.
 
Actuarial_Fun said:
I think this is a good question and you are thinking about this right and there's a lot more loss in commissions, storage and insurance if you trade commodities other than index futures, and huge will be your cost of borrowing.

If we breakdown the cost to breakeven for ES you have the 1) bid/ask spread going against you, 2) interest as you are borrowing to trade that massive contract that has only 5% down, and 3) commissions. You will need 4+ ticks "profit" on average just to break even in time. You have 1 tick for each side as you are buying ask and selling bid (2 ticks total), you have commissions on both sides which is 3/4 of a tick, then you have interest which is probably 100 ticks per month if you held the contract all month (probably around 5 ticks per day, although I'm giving a very high level estimate).

So if you buy a contract and hold it a quarter of a day you have almost 4 ticks to get to breakeven (2 for bid/ask spread, near 1 for commissions, 1 for interest). That's $50!

Now, if you are targeting $500-$800 in gains from a trade, and say $500-$800 in losses from a trade, you need to be right 54% to breakeven. That's to make $0. You are taking on lots and lots of risk, and expecting $0.

Trading futures for profit is extremely difficult. I'd suggest swing trading to increase your gain well above $500-$800 or better yet, trade a futures contract that is much less efficient. If you target bigger gains, you will need to have 100,000s in cash to do these swing trades though. That's why I think you should target some easier futures if you really want to do this, but despite the other comments, I think you are spot on for doing this math.

In 2020 and part of 2021, trading futures was easy. Much different game than today. I profited around 1 tick per contract and I traded in large volume. It wasn't worth it. The game is much harder today, I still trade futures on the side but am much more selective and target much higher gains than what I did in 2020 (which was a target of ~$500 a contract,now I target $2000 per contract and I am very selective).
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" .........interest as you are borrowing ........ "

What interest would that be?

1-2 Ticks = $12.50-$25.00
Comm. = $5.
1 Point = $50.

LOL 4+ ticks needed.

Do you trade it, if not best not to comment on it.
 
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