The Tao of Minimalistic Trading: $300 Daily Profit

schizo
don't know why you started this thread ?
then to post trades ?
if you have real experience you wouldn't be playing these games !
 
I know that this might be considered out of place, but why not 2 contracts...trail the runner and let that work towards a more significant $ goal...as others have said, those good days (especially with a "blind" runner) could really add up...
 
DDR said:
schizo
don't know why you started this thread ?
then to post trades ?
if you have real experience you wouldn't be playing these games !
More...
1) don't know why you started this thread ?
My answer is, why not? Other traders say that those who trade small account don't know how to trade and that it's nearly impossible to consistently capture 6 points day in and day out. Well, I plan to prove them wrong.

2) then to post trades ?
What is it about my trades do you find so problematic? I've been actively posting my trades on the ES Journal since 2006. So this ain't anything new. I post both my winners and losers for everyone to see, which keeps me in line. If I veer off course, I can count on others to get my ass back in check.

3) if you have real experience you wouldn't be playing these games !
What game are you referring to? If I had read experience, why would I not post my trades? I think it's important to note that while other people prefer to post their trade blotter, posting trades in real time has always been my preferred method of choice. Since each trade is time-stamped, there's no way to fudge the number. Trade blotters, on the other hand, are questionable to say the least. Plus, trade blotters only show how much one has made but no indication about where the trades were entered or exited. So the main purpose of these blotters is to only stoke the ego of the poster but serving no benefit to the reader.

4) So do I have the experience? I'll let the trades speak for themselves. Am I playing a game? I'll let others to speak on my behalf. If that sounded too condescending, you have my apology. My hope is that this thread is more educational than entertaining.
 
schizo said:
Gotcha. Fortunately, ES is pretty active as you may already be aware of. The daily range is usually in excess of 10 points. I do not need to catch the entire move. I just need to nibble 2-3 points here, 2-3 points there.
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I do keep an eye on the ES but don't share your opinion. On certain days the 10 points is close to impossible realistically to do, on other days you'd be done after the first half hour. I really don't know why you are constraining your trading this way, in theory it might sound nice but in practice it's a terrible idea.
 
schizo said:
Who knows, this might be just another short-lived gratuitous and facetious thread. Too early to tell. So what's up with the title? Well, now that I've finally automated my trading system, I want to take things slow and trade a smaller account on the side.

Personally, I've been trading for too long and, being no different from other greedy traders, I was too damn obsessed about money. My obsession had no limit. I'm sure a lot of you can relate. C'mon, fess up, you know who you are.:)

So without further ado, let me get right to the point. My goal is to make $300 trading 1 ES contract. Why $300? Considering there are 22 trading days in any given month, that would be $6,600 profit for the month. Geez, ain't that enough to live on? Yeah, I'm a born-again minimalist.

For those who are not in the know, 1 ES point is $50. So I would need to score 6 points. This could be done in a single trade, or in multiple trades. Either way, the objective is to make $300 and close shop. No dicking around afterward, as they say in the boondocks. Needless to say, this also applies to the losses as well. If, in case, I lose $300, I must unplug the computer.

So without further ado, let's begin our journey into the discovery of the Tao of Minimalistic Trading.
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This is fine in theory.
In practice , if the person can do 300$ easily, greed will pop in, and the person at one moment will aim for much more.
One experiment is to set such a target, and determine how many days till the trader wants more.
 
 
schizo said:
Who knows, this might be just another short-lived gratuitous and facetious thread. Too early to tell. So what's up with the title? Well, now that I've finally automated my trading system, I want to take things slow and trade a smaller account on the side.

Personally, I've been trading for too long and, being no different from other greedy traders, I was too damn obsessed about money. My obsession had no limit. I'm sure a lot of you can relate. C'mon, fess up, you know who you are.:)

So without further ado, let me get right to the point. My goal is to make $300 trading 1 ES contract. Why $300? Considering there are 22 trading days in any given month, that would be $6,600 profit for the month. Geez, ain't that enough to live on? Yeah, I'm a born-again minimalist.

For those who are not in the know, 1 ES point is $50. So I would need to score 6 points. This could be done in a single trade, or in multiple trades. Either way, the objective is to make $300 and close shop. No dicking around afterward, as they say in the boondocks. Needless to say, this also applies to the losses as well. If, in case, I lose $300, I must unplug the computer.

So without further ado, let's begin our journey into the discovery of the Tao of Minimalistic Trading.
More...
im more of a swing trader. anything form a day to a week targeting 50pts. scalping for me is 10-15pts. i take entries based on my algo system signals which gives me targets and stops in case it fails. i used to scalp back in the day and found it too hard and stressful to try and string 3-4 scalp trades together for 3pts. usually end up giving half or more back
also use EMAs in conjunction with my algos
 
That's a start. It could be a conclusion also if that's the only thing you can find to link from the post-HFT retail-trader graveyard.
 
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