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Only 1 Futures Daytrade per day: $200-$1,000 profit goal per day
- Thread starter increasenow
- Start date
Quote from increasenow:
Only 1 Futures Daytrade per day: $200USD-$1,000USD profit goal per day...
Looking to start trading this Monday July 21st:
Contracts looking at trading to achieve this:
DAX 2,000 Euros daytrade margin
FTSE 674 British Pounds daytrade margin
YM $300 USD daytrade margin
I want to make 1 highly profitable trade per day and make $200-$1,000 per day
Will trade:
1 contract of DAX
1-2 contract of FTSE
1-10 contracts of YM....
thoughts?
Another ET jeenyus!
Do tell, how many trades are you willing to make to attain your one "highly profitable" trade per day? If one only, and it is not "highly profitable" or dare say, a loser, what happens then? And just for my morbid curiosity, will your trade(s) be discretionarily managed or pre-set with an exit loss limit and exit price target?
I want an end to hunger and homelessness. Based on your plan, my want is not realistic.
not really able to evaluate this question....varies...varies...my main focus will be 1-DAX,2-FTSE,...then perhaps 3-YM...I am starting with a fresh approach and strategy...so the past is past...only traded the FTSE once and DAX never...YM many times but found too many flaws with the YM..slippage etc...not enough per point valueQuote from The Swordsman:
Historically, in your own trading, what has been your average profit per day in other instruments?
ok, so if you are just starting fresh, don't you think it makes more sense to forget about trying to average some arbitrary daily profit ($200-$1000) and focus instead on taking the correct trades, learning to manage risks etc etc?
Anyone who is new to trading or learning a new instrument to trade shouldn't be concerned with hitting daily profit goals. Profits (consistent) come only after correct trading is learned, not the other way around.
If this were baseball, it sounds like you are planning on what batting avergage you will have, how many hits and homeruns you will be aiming for before you even know how to stand in the batters box, how to grip and swing a bat, how to identify pitches quickly etc.
Anyone who is new to trading or learning a new instrument to trade shouldn't be concerned with hitting daily profit goals. Profits (consistent) come only after correct trading is learned, not the other way around.
If this were baseball, it sounds like you are planning on what batting avergage you will have, how many hits and homeruns you will be aiming for before you even know how to stand in the batters box, how to grip and swing a bat, how to identify pitches quickly etc.
Quote from increasenow:
not really able to evaluate this question....varies...varies...my main focus will be 1-DAX,2-FTSE,...then perhaps 3-YM...I am starting with a fresh approach and strategy...so the past is past...only traded the FTSE once and DAX never...YM many times but found too many flaws with the YM..slippage etc...not enough per point value
Swordsman...I totally 100% agree with you...I was sharing my highest goal and how I am looking to get there and the contracts to trade to get there...BUT...I realise there are many steps in between and yours are right on...thanks...what is your opinion on the DAX or FTSE?...ever traded them?...what do you trade?Quote from The Swordsman:
ok, so if you are just starting fresh, don't you think it makes more sense to forget about trying to average some arbitrary daily profit ($200-$1000) and focus instead on taking the correct trades, learning to manage risks etc etc?
the goal is simply 1 trade per day of the DAX, FTSE, ES or YM..I like the DAX and FTSE because I only need 1 contract and need many with the others (ES, YM)...well...the loser would be small as I execute tight stops and would look for another entry to profit...thanks for the post!Quote from turdlehead:
Do tell, how many trades are you willing to make to attain your one "highly profitable" trade per day? If one only, and it is not "highly profitable" or dare say, a loser, what happens then? And just for my morbid curiosity, will your trade(s) be discretionarily managed or pre-set with an exit loss limit and exit price target?
my trades will be based on price action, momentum of the market I am looking to trade and key support/resistance/pivot levels and key price levels...no technical indicators or MA's will be used...Quote from turdlehead:
And just for my morbid curiosity, will your trade(s) be discretionarily managed or pre-set with an exit loss limit and exit price target?