No Bullets....vix At 16 And Collapsing

Quote from ArchAngel:

Average net 2 points/day * 25 ES contracts * 20 days/month = $50K

Not saying it can be done consistently (or that just anyone can do it), just that it's not out of the realm of possibility.
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Average net 1 point/day in each of ZB,ZN, ZF, GBL & GBM * 10 contracts = $50K a day

= $50K * 20 = $1M a month

:cool:
 
Quote from dbphoenix:

Traders who aren't doing well post this sort of stuff in order to find out whether or not other traders are doing as badly as they are (and, of course, hoping that that's the case, since that would suggest that the fault is not theirs but the "market").

Eventually, those who succeed have figured out that it doesn't make the slightest bit of difference how well or badly anybody else is doing. All that matters is one's own results.

Perhaps the most common reason for this difficulty is that the trader has a particular strategy or style and that particular strategy or style isn't working. Therefore, he concludes, nothing works. But rather than come up with a particular set of rules and demand that the market behave according to those rules, the winner will focus instead on exactly what it is that the market is doing and either come up with a revised or new set of rules and take what the market is willing to give him or quit the field entirely until his style/strategy is back in vogue.

In a phrase, it's not the market; it's you.
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I agree as I have been making many modifications to my styles and learning new strategies, technicals, news based trading, etc. I've put very big emphasis on discipline which I already have but want to develop even more.

However, it is a fact that this market took a turn for the worst. Whatever your style, the lack of volatility and volume will lower your returns and may even turn you net negative. It's not a good thing anyway you look at it. So it's not just the trader if he is having hard time. It is partly the market. It is simply impossible to adjust to the specialists going out of their way to screw the intradays (and even swings). I do not care how great you are, there are certain market factors that are simply impossible to adjust to.
But that's life.

Like I said, a shake out will occur if the market will not get better. It's just natural. Some of the traders have other options, business venture options, real jobs (some do exist), completely new careers. As an overall measure, if trading gets less profitable it makes other options look more appealing. A certain number of traders will have to leave in order to bring the profitability level of trading back up. Or the market takes a nice sweet turn and the good ole days of 2003 come back.
 
Quote from dbphoenix:

[...]
Eventually, those who succeed have figured out that it doesn't make the slightest bit of difference how well or badly anybody else is doing. All that matters is one's own results.

[...]
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Hi dbphoenix,

I like that!

Be good,

nononsense
 
Quote from Mecro:

I do not care how great you are, there are certain market factors that are simply impossible to adjust to.
But that's life.
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It has less to do with being "great" than with keeping an open mind and looking at other strategies, other instruments, other markets. The futures are trading the same as they always have.

One can adjust to anything if he wants to. The question is whether or not he wants to.
 
Quote from Reitberg:

[...]

So if somebody is saying that they are banging out $70K/month, something is very fishy because there is no way that can be sustained without a potential blowout waiting to happen that will create a $500K draw down one month and blow out the profits.
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Hi Reitberg,

You are wrong in assuming that "banging out $70K/month" will create a $500k drawdown one month.

If you're scared of DD's like me, it will never happen. The only thing I fear more than a DD is the devil himself. :(

Be good,

nononsense
 
Obviously, many of you guys weren't around back in 1993-1994 when the VIX meandered around 9.0 for months on end and the S&P futures contract was trading in the 450 handle.
 
By the way, there are plenty of liquid futures contracts out there to trade, with great daily ranges.

ie.) Try the ZB.

Everyday there is a full point range ( $1,000 ) per contract and each tick is $31.25 With liquidity and range, not too mention very technical trade, the ZB is probably the best trading vehicle going. And I am not just saying this as of lately. This contract has been a Godsend for many stock-traders that have gotten tired of daytrading equities. Try it, you'll like it!

:p
 
And if you are an equity-trader, how could you not be enjoying the action in the Homebuilders{/b] over the past year?

CTX, HOV, LEN, PHM, RYL, and TOL.
 
There is a market leadership change which has happened and that is also spooking many traders.
The technology and many old favourites are not part of the market action and new groups are being ignored by many traders.
There are currently 53 groups at or near all time high as of yesterday.
ENERGY
METALS & MINING - Silver
CONSUMER NON-DURABLES
CONSUMER NON-DURABLES - Textile - Apparel Footwear & A
CONSUMER NON-DURABLES - Personal Products
CONSUMER NON-DURABLES - Cleaning Products
AUTOMOTIVE - Recreational Vehicles
FOOD & BEVERAGE
FOOD & BEVERAGE - Food - Major Diversified
FOOD & BEVERAGE - Processed & Packaged Goods
FOOD & BEVERAGE - Meat Products
FOOD & BEVERAGE - Dairy Products
FOOD & BEVERAGE - Confectioners
FOOD & BEVERAGE - Beverages - Brewers
FOOD & BEVERAGE - Beverages - Wineries & Distill
FOOD & BEVERAGE - Beverages - Soft Drinks
TOBACCO
TOBACCO - Cigarettes
BANKING
BANKING - Money Center Banks
BANKING - Regional - Northeast Banks
BANKING - Regional - Mid-Atlantic Banks
BANKING - Regional - Southwest Banks
BANKING - Savings & Loans
INSURANCE
INSURANCE - Property & Casualty Insurance
REAL ESTATE
REAL ESTATE - REIT - Diversified/Industrial
REAL ESTATE - REIT - Office
REAL ESTATE - REIT - Retail
REAL ESTATE - Mortgage Investment
DRUGS - Drug Related Products
HEALTH SERVICES
HEALTH SERVICES - Medical Instruments & Supplies
HEALTH SERVICES - Home Health Care
HEALTH SERVICES - Specialized Health Services
MATERIALS & CONSTRUCTION - Cement
LEISURE
LEISURE - Resorts & Casinos
LEISURE - Restaurants
LEISURE - Specialty Eateries
LEISURE - Gaming Activities
LEISURE - General Entertainment
MEDIA - Publishing - Newspapers
SPECIALTY RETAIL
SPECIALTY RETAIL - Sporting Goods Stores
RETAIL - Apparel Stores
WHOLESALE - Auto Parts Wholesale
WHOLESALE - Building Materials Wholesale
WHOLESALE - Industrial Equipment Wholesale
WHOLESALE - Medical Equipment Wholesale
WHOLESALE - Food Wholesale
DIVERSIFIED SERVICES - Education & Training Services
 
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