The Tao of Minimalistic Trading: $300 Daily Profit

[schizo]

Just out of curiosity, what tick/timeframe chart do you trade on?

Mostly, 5M. Sometimes, 1M.

 

[jimmiebarton]

Bit of a roller-coaster ride today. By rough estimation, I think I was up almost 10 points in early trading, only to get dragged down and lose about half. Luckily, I was given another chance by the grace of Almighty. Hence, this day ends with a Gain of 15.50 points or $775. Great day to start the week, indeed.

Today's Trade Stat

No. of Trades (Round-trip)*: 15
No. of Winners: 7
No. of Losers: 8
W/L Ratio: 0.5
Avg Gain: 3.29
Avg Loss: 0.94
Cumulative P/L: +15.50 Points

* Breakeven trades have been omitted

$300 Daily Challenge (1/04/16 - 1/29/16)
Winning Days (>= $300): 4
Losing Days (< $300): 2

not too bad for 4 hrs LOL "work"

 

[schizo]

you nailed the "oscillation" at the false "bottom"; nice trading com padre

That's because you don't know how the smartmoney works the system. They're probably buying at this level. First, they shake out weak short, then weak long.

 

[jimmiebarton]

ADD S 1909.50

wash out here it comes..

 

[lawrence-lugar]

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.

I didn't read this entire thread ..too long ...but did you accomplish your goal of $300/day?

Chances are, you have surpassed it before you know it. ...assuming you have modest goals, and a good trading plan and management.
(it can grow before you know it)

 

[jimmiebarton]

That's because you don't know how the smartmoney works the system. They're probably buying at this level. First, they shake out weak short, then weak long.

i have no doubt big $ has an eye on ...but if your slinging 100's of contracts in a single trade..
are you waiting for confirmation...or you taking a shot at the "bottom" in the dark??

we are 8 days down here

 

[schizo]

I didn't read this entire thread...but did you accomplish your goal?
Chances are, you have surpassed it before you know it.

Thanks, the goal is (or was) to consistently make 6 ES points or $300 per day. I actually broke my pledge of stopping once I reach $300 on any given day. That's partly because of high volatility that we've been enjoying lately. I'll likely settle down once the volatility returns to normal.

 

[schizo]

i have no doubt big $ has an eye on ...but if your slinging 100's of contracts in a single trade..
are you waiting for confirmation...or you taking a shot at the "bottom" in the dark??

we are 8 days down here

It's been that long already? Well, then be on high alert. Anything can happen here. My gut feeling is that the market might "pop" (and you know how vicious short-covering can be).

 

[jimmiebarton]

It's been that long already? Well, then be on high alert. Anything can happen here. My gut feeling is that the market might "pop" (and you know how vicious short-covering can be).

there's no evidence of a squeeze here...just an orderly sell-off

 

[schizo]

there's no evidence of a squeeze here...just an orderly sell-off

Squeeze aren't suppose to be orderly. Anyway, look out, the bulls are about to charge.