Starting with 1 ES contract...

[Blotto]

...how long would it take to scale up to 333 contracts day trading only?

Who here has achieved this?
Who believes it is possible?
Who would like to achieve this?
Who has a reliable methodology coupled with an even temperament?

Here is a challenge open to all who can muster the necessary qualities.

1. Devise or adopt a strategy for taking net points daily from the ES contract.
2. Develop the correct attitude towards success, achievement, and money - coupled with an unstressed, even temperament.
3. Fund a futures account with $5,000.
4. Trade 1 lot for every $3,000 in the account - to start, 1 lot.
5. Apply the methodology to take net points from the market daily.

For every $3,000 trading profit, one adds another contract. By the time you are trading 10 lots, 6 ES points net gain buys another contract, or a 10% increase in position size.

In these conditions, a trader with a reliable methodology should be able to take between 2 and 20 ES points per trading day net profit. The better the trader, the more points, and the faster capital accumulates.

I am interested to see who can go from 1 lot to 333 lots (which is also $5,000 to $1,000,000) in the fewest consecutive trading days.

Any takers?

 

[eudaemon]

I'm interested.

 

[bigarrow]

Trading with $3000 per emini for one contract is different than trading $3000 per contract for 10 contracts. At least it is for me, you may have ice water in your veins though. But hell go for it man.

 

[Blotto]

Quote from bigarrow:

Trading with $3000 per emini for one contract is different than trading $3000 per contract for 10 contracts. At least it is for me, you may have ice water in your veins though. But hell go for it man.

I've never properly traded more than 80 contracts, so I have absolutely no idea how I would react. I've not got myself truly comfortable above 40. This is more to do with my risk management. I think if I had three million in a trading account, I'd have no problem with 200 lots. Of course this is still far too much risk.

I did my first 100 lot within my first 18 months of live trading. I don't remember anything about the trade itself. I just had an aggressive position sizing plan and one day it was time. Of course by the time I hit 140 (about a month after my first 100) I managed to lose 30% of my net worth in a few weeks. Given that I had started with a 2 lot, I took this in my stride, but have never been near 100 lots since. I suspect I won't for years either.

Interestingly, I took so much risk during the "experimental" phase before I made this my only career and income that I'm not really bothered by size. I know that I have the capability to execute at least 140 lots. Even if I choke at 141, I know I'll do okay with the 140. Equally, even trading an extra 10 or 20 contracts when equity / profit allows doesn't really affect me. I think I'm immunised against the effects as I had one of the swiftest up and down again possible when I first got into trading. I learned a lot of lessons, although I did make mistakes that set me back years. Valuable experiences. I don't hold overnights and I always have stops pretty close. Unless I become good enough to play in the big leagues, I don't think I'll be taking very large hits (or very large gains) in proportion to my capital ever again.

I just look at size now in terms of position sizing and market liquidity. I'm not going to start paying myself more when I trade more contracts - it just means that the account grows a little quicker and I'm another step towards lowering the leverage.

 

[FreakofNature]

What you are asking for is a winning lottery ticket.

FoN

 

[noaveragingdown]

Quote from Blotto:

I've never properly traded more than 80 contracts, so I have absolutely no idea how I would react. I've not got myself truly comfortable above 40. This is more to do with my risk management. I think if I had three million in a trading account, I'd have no problem with 200 lots. Of course this is still far too much risk.

I did my first 100 lot within my first 18 months of live trading. I don't remember anything about the trade itself. I just had an aggressive position sizing plan and one day it was time. Of course by the time I hit 140 (about a month after my first 100) I managed to lose 30% of my net worth in a few weeks. Given that I had started with a 2 lot, I took this in my stride, but have never been near 100 lots since. I suspect I won't for years either.

Interestingly, I took so much risk during the "experimental" phase before I made this my only career and income that I'm not really bothered by size. I know that I have the capability to execute at least 140 lots. Even if I choke at 141, I know I'll do okay with the 140. Equally, even trading an extra 10 or 20 contracts when equity / profit allows doesn't really affect me. I think I'm immunised against the effects as I had one of the swiftest up and down again possible when I first got into trading. I learned a lot of lessons, although I did make mistakes that set me back years. Valuable experiences. I don't hold overnights and I always have stops pretty close. Unless I become good enough to play in the big leagues, I don't think I'll be taking very large hits (or very large gains) in proportion to my capital ever again.

I just look at size now in terms of position sizing and market liquidity. I'm not going to start paying myself more when I trade more contracts - it just means that the account grows a little quicker and I'm another step towards lowering the leverage.

I'll make this quick.

You are full of shit.

NAD

 

[Blotto]

Quote from noaveragingdown:

I'll make this quick.

You are full of shit.

NAD

If you're going to call me a liar, be specific. Makes it easier to call you on your bs.

Quote from noaveragingdown:

In my experience, mixing the timeframes tends to give me too many conflicting signals, therefore, I opted to stick with just one and keep it simple.

NAD

You on the other hand clearly know all, and we have much to learn from your "simple" approach. Simple minds amused by simple things perhaps?

Conflicting signals...that is funny.

Quote from FreakofNature:

What you are asking for is a winning lottery ticket.

FoN

Very apt. Somebody buys a winning lottery ticket each week. Are there traders with winning lottery tickets?

 

[flipside21]

99.9999999% of people will blow up that $5,000 within a week trading as aggressively as Blotto suggests.

 

[eudaemon]

I'm more interested in going from 333 cars to 100,000 cars, than from 1 car to 333 cars, but I will read this thread nonetheless.

 

[noaveragingdown]

Quote from Blotto:

If you're going to call me a liar, be specific. Makes it easier to call you on your bs.



You on the other hand clearly know all, and we have much to learn from your "simple" approach. Simple minds amused by simple things perhaps?

Conflicting signals...that is funny.



Very apt. Somebody buys a winning lottery ticket each week. Are there traders with winning lottery tickets?

I'll be specific.

Ive seen you post calls in the ES Journal only to delete them when you were clearly wrong.

Think you gain respect from such actions ? Think again.

NAD