The Time Has Come !

Quote from Pekelo:

He could, but he won't. You are telling to a newbie he can make 5 ES points per day, right from start???? If he can, I want to sign up for his strategy...

Saxon, be happy if you make consistently 1-2 ES per day, you can make a living on that...
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I will take even 1 point a day knowing that I must get better and better and get maximum out of myself to get absolute maximum from the markets.
 
Start small Increase size exponentally less. i.e. add a second contract at 2500, a third at when you make 5000 or 7500 total.

Don't change your strat because you are trading bigger. trade exactly the same.
 
Quote from minmike:

Start small Increase size exponentially less. i.e. add a second contract at 2500, a third at when you make 5000 or 7500 total.

Don't change your start because you are trading bigger. trade exactly the same.
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I will start with 1 and thenafter a month of profitable trading it will go to 2 then 3,4 and so forth.
As for the strategy, it will essentially be the same but with even less risk.
 
Quote from saxon22:

This is precisely what I am trying to find out, namely; How much is enough according to people frequenting ET.
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Your answer lies in how much you are willing to lose on any one trade.

How many losses will you take in a row?

It’s not how much you make that counts it’s how little you lose.

To answer your question I don’t risk more than 1% of my account on any one trade.
 
Quote from Boib:

Your answer lies in how much you are willing to lose on any one trade.

How many losses will you take in a row?

It’s not how much you make that counts it’s how little you lose.

To answer your question I don’t risk more than 1% of my account on any one trade.
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So in order to do 50 contracts I would have to have around 250,000? Assuming tha my stop loss is 1 point.
 
Quote from saxon22:

I will take even 1 point a day knowing that I must get better and better and get maximum out of myself to get absolute maximum from the markets.
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Hi Saxon,

Welcome to the slaughter house! Your thread was started on 18-03-2007........Keep it alive please.

Learner
 
Hi Saxon22,

I am currently doing something very similar that is gradually increasing my size and I am making profits. If your average risk per trade is around 1-2 ES points, I suggest to have on your account at least $5,000 per 1 contract. This is margin is OK only if you do not hold positions overnight. Once you reach 10K, add another one and so forth. If you loose 5K, decrease the size by 1.

Regards,
redduke
 
Quote from saxon22:

So in order to do 50 contracts I would have to have around 250,000? Assuming tha my stop loss is 1 point.
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The process will be smoother for you if you:

a) Start trading live money. Doing so will teach you what trading SIM will not.

b) Stop getting ahead of yourself. You're like the High School kid who wants to win an NBA championship. That's all well and good, and you certainly can, but you have to start doing the process of playing real ball at some point. This, I think, will answer many of your questions for yourself better than anyone else could.

Good trading,

Jimmy Jam
 
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