....INVERTED RISK/REWARD.....ALL OVER THIS FORUM......great recipe for LOSING UR MONEY....NO STOPS/MENTAL STOPS/DISCRETIONARY EXTERNAL INFORMATION TRADING ON THE YM......BAD BOY/GIRL.........BAD BAD......BIGBOY...BREAKEVEN IS MUSIC TO MY EARS.....BIGBOY SAYS SOME GOOD STUFF.....GAMBLING IS BAD AND SHOULD NOT BE PART OF TRADING THE EMINI'S..........PLEASE DON'T GAMBLE.....IT IS BAD FOR YOUR POCKETBOOK.......
YM Traders
- Thread starter volente_00
- Start date
If I could ask without sounding too intrusive, what everyone averages in points gained *hopefully not lost* trading YM on a day to day basis, or at least a good honest estimate and how long you have traded futures?
I have yet to start trading YM, still setting up my futures account, but I just want to get a feel for what people average on a daily basis so I could try and judge my performance trading one contract.
I now have a mentor that does this for a living so I'm very greatful that he teaches me, so I was just curious as to what other people make from trading YM to try and compare performance
I plan on trading 1 contract *I'm starting my account with 2k*, until I get a feel for trading Futures, and then if I am consistantly profitable, move to 2 contracts, just taking it slow. I will only be able to trade in the last hour of the market, so things get tricky, but I see many more benefits of trading Futures vs. trading Forex, for my situation anyways.
Regardless, thanks in advance if you post and good trading to all.
I have yet to start trading YM, still setting up my futures account, but I just want to get a feel for what people average on a daily basis so I could try and judge my performance trading one contract.
I now have a mentor that does this for a living so I'm very greatful that he teaches me, so I was just curious as to what other people make from trading YM to try and compare performance
I plan on trading 1 contract *I'm starting my account with 2k*, until I get a feel for trading Futures, and then if I am consistantly profitable, move to 2 contracts, just taking it slow. I will only be able to trade in the last hour of the market, so things get tricky, but I see many more benefits of trading Futures vs. trading Forex, for my situation anyways.
Regardless, thanks in advance if you post and good trading to all.
Demo for sure. Im new and I can say there is def money to be made but, you have to know how and when to act. All I can say is its a learning curve and Im about even with my cash but its sickening when you lose. Im not going anywhere 
. Im a sorta part time trader maybe 3 to 8 contracts a day max. Anyway good luck all.
P.S. Swim with the Sharks, but stay away from thier mouths.
. Im a sorta part time trader maybe 3 to 8 contracts a day max. Anyway good luck all.P.S. Swim with the Sharks, but stay away from thier mouths
.
Do you like 1:3? What is your winrate?
Thanks, but as I have said, I have a mentor that is helping me, he trades YM for a living, and he knows what he is talking about, I have traded equities before, and know what it is I am doing.
I fully understand risk vs. reward and have been looking forward to trading futures. I have been trying to day-trade equities, but couldn't do it well because of the 25k limit, so Futures are for me, and I have someone that helps during the trading day, so again, I am extremely grateful for that because not many people have a chance to have someone that is willing to sacrifice time & profit to teach others, is really amazing, so I'm happy about that.
The fact that I come from a not so very wealthy family *actually completely, opposite*, and am able to actually trade in the markets, is amazing, it's something I have always wanted to do, and thought I could never do because I didn't have enough money and, only rich people traded. *boy was I wrong*
After my father passed away 5 years ago, it got extremely hard for me, and I haven't had anything fun in my life since then, but recently I opened a trading account and have been the happiest in my life for 4 years. I have tried so many things in life, *I'm kinda one of those people that have tried a lot of things, and couldn't find one thing to actually focus on*, but trading is without a doubt one of the most exciting things, I watch CNBC every day, I enjoy studying the markets, I have taken loses and have not had any emotion to it because I know I'm learning. Just recently I started breaking even, actually making a little bit of profit, so I know that is where everything started clicking. But just 2 weeks ago, I found someone who was willing to help me, and he helps a few others while the market is open, and he helps his students every day, because he has obviously been so seccessful with trading YM, that he no longer needs to do it, and has been helping me and a few others. The first day one of his new students made 1k trading one contract I believe. So again, I am extremely fortunate to find someone like that, and I hope everyone learning to trade can have this experience.
So, I have been trading demo past few days and have been doing very well. I still have some work on scalping, but beyond that, It is amazing.
So I'm just having fun learning and I want to help new people when I get good to mentor new traders that are really determined to learn, not for the fact of just being rich, and making money only, but to actually do something they love to do.
So, I'm ready to go, just need to fund my account and get going, so I will be able to post p/l up here like everyone else. Although I'll only be able to trade the last hour of the market, so i know I will not be able to bring in anywhere near the profits anyone else bring in trading the market all day long, i'm still looking forward to it.
So thanks again, people around here that try and persuade people that they can't do it, just makes me a better trader to prove to myself with work and dedication I can do this, and being able to see exactly how someone does this for a living trades, is just the topping on the cake, I couldn't ask for anything else, as it is really a life changing event for me.
So I wish the best to all traders.
I fully understand risk vs. reward and have been looking forward to trading futures. I have been trying to day-trade equities, but couldn't do it well because of the 25k limit, so Futures are for me, and I have someone that helps during the trading day, so again, I am extremely grateful for that because not many people have a chance to have someone that is willing to sacrifice time & profit to teach others, is really amazing, so I'm happy about that.
The fact that I come from a not so very wealthy family *actually completely, opposite*, and am able to actually trade in the markets, is amazing, it's something I have always wanted to do, and thought I could never do because I didn't have enough money and, only rich people traded. *boy was I wrong*
After my father passed away 5 years ago, it got extremely hard for me, and I haven't had anything fun in my life since then, but recently I opened a trading account and have been the happiest in my life for 4 years. I have tried so many things in life, *I'm kinda one of those people that have tried a lot of things, and couldn't find one thing to actually focus on*, but trading is without a doubt one of the most exciting things, I watch CNBC every day, I enjoy studying the markets, I have taken loses and have not had any emotion to it because I know I'm learning. Just recently I started breaking even, actually making a little bit of profit, so I know that is where everything started clicking. But just 2 weeks ago, I found someone who was willing to help me, and he helps a few others while the market is open, and he helps his students every day, because he has obviously been so seccessful with trading YM, that he no longer needs to do it, and has been helping me and a few others. The first day one of his new students made 1k trading one contract I believe. So again, I am extremely fortunate to find someone like that, and I hope everyone learning to trade can have this experience.
So, I have been trading demo past few days and have been doing very well. I still have some work on scalping, but beyond that, It is amazing.
So I'm just having fun learning and I want to help new people when I get good to mentor new traders that are really determined to learn, not for the fact of just being rich, and making money only, but to actually do something they love to do.
So, I'm ready to go, just need to fund my account and get going, so I will be able to post p/l up here like everyone else. Although I'll only be able to trade the last hour of the market, so i know I will not be able to bring in anywhere near the profits anyone else bring in trading the market all day long, i'm still looking forward to it.
So thanks again, people around here that try and persuade people that they can't do it, just makes me a better trader to prove to myself with work and dedication I can do this, and being able to see exactly how someone does this for a living trades, is just the topping on the cake, I couldn't ask for anything else, as it is really a life changing event for me.
So I wish the best to all traders.
JMowery1987,
From the heart and your passion will help you find your way. Thanks JMowery1987....
After my father passed away 5 years ago, it got extremely hard for me, and I haven't had anything fun in my life since then, but recently I opened a trading account and have been the happiest in my life for 4 years. I have tried so many things in life, *I'm kinda one of those people that have tried a lot of things, and couldn't find one thing to actually focus on*, but trading is without a doubt one of the most exciting things
From the heart and your passion will help you find your way. Thanks JMowery1987....
After my father passed away 5 years ago, it got extremely hard for me, and I haven't had anything fun in my life since then, but recently I opened a trading account and have been the happiest in my life for 4 years. I have tried so many things in life, *I'm kinda one of those people that have tried a lot of things, and couldn't find one thing to actually focus on*, but trading is without a doubt one of the most exciting things
Thanks,
It's been tough, I was very close with my father, and losing him at age 13 was tough, my mom isn't really that "motherly" as I'd like to say since we barely even speak to each other, but I know I am fortunate to have what I have.
So many people around here just seem like they will live here for the rest of their lives and won't take any risks, but I'm determined to get out of here, travel the world and see all that I can. I'd rather be the reason of my success or failure and directly be in control of that, instead of working for a boss in these times where people love taking advantage of others, for example, I HAD a job here at a small computer repair shop, just ripping off elderly people and some of my friends as well, it just made me feel bad, and the boss was a total jerk. It just really got to me, and back when I was younger I used to always paper trade because I loved things involving strategy and such, playing business simulators and such. So I took a chance and opened up an account. I had some problems with Etrade that cost me money with problems with them and my bank, but I have since moved to Ameritrade. I have not lost any money, I have actually gained around 170. But like I said, I will NEVER be able to make a living trading equities if I don't have 25k... and I'd only feel safe doing that if I had around 40 to 50k saved up. So Futures is really my only option and I like Futures a lot better and wished I had started trading them earlier.
But,
I really never thought I'd have the chance to do this, and if I had waiting any longer, I might never have teh chance to do this until a much later time in my life. So I'm very fortunate. Lots of people come into this expecting to be rich quickly, I just want to learn all that I can about it and be successful. I don't need a Ferrari and such, I'd just like to independent and be able to trade for a living just making it on my own.
I have one more semester of high school left, and then I'm done, so after that, it will be deciding what I will ultimately do in the future. I am hoping my learning early will help me actually trade for a living. If it does, it would allow me to do things I have always dreamed of, since I have a passion for music production and such, but I can't afford to do it right now.
EXTREMELY fortunate for myself, I have a mentor that has helped me daily for the past 2 weeks and I don't suspect that will end and it just helps to see how someone that has been doing this for years does it and how it really is more of yourself being able to control your emotions during trading to be profitable, instead of just relying on technical indicators and such.
So, I am just determined to try my hardest and learn as much as I can, which is really a draw for me to learn trading because it is exciting, you learn something new every day and you are the only one deciding if you are successful or not for that day, and it really appeals to me and the way I am.
I hope everyone else does as well if they are really determined to do well in the markets. I know there is what... 5% - 10% that make it, so the odds are against me, in every way, but I guess i'll find out. If it doesn't work, I'm screwed, I got to go back to working horrible jobs until I can afford college and even then I'd probably go into business management, but trading is something I just have a newly found passion for and this whole summer, while others at my school were out vacationing and such, I gave the whole summer committed to studying the stock markets, it's almost insane how I have tried so many things with trading, and just as the summer ends, i'm finding things have clicked in my mind and I understand a lot more, but it just figure school is coming along next week, so that'll really limit me.
I'll just have to wait and find out. I really enjoy reading the threads about futures trading.
EDIT:
Yeah, but I don't want to turn this into one of those dramatic stories that sound like belong into a movie theater, so I'll just end it right here and wish everyone the best of luck on trading YM and I hope to post results as well within the next to 3 weeks.
JMowery.
I really like your story. I lost my Dad when I was 22 and can relate to you really well. I can tell you right now with already having a mentor and the dedication you seem to have given trading you are already light years ahead of the majority of those who try to make it as traders. You remind me a lot of myself. It is going to be hard for you just trading the last hour of trading. What are your future plans after highschool ?
I highly recommend you read these 3 books.
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0471059706&itm=1
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0471592242&itm=1
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0132157578&itm=1
As far as your original questions.
I have been trading YM for 9 months now and I average around 18-20 points per trade.
I strongly agree with porgie and ripcat about using a demo before going live because futures are a different animal from tradign stocks.
I really like your story. I lost my Dad when I was 22 and can relate to you really well. I can tell you right now with already having a mentor and the dedication you seem to have given trading you are already light years ahead of the majority of those who try to make it as traders. You remind me a lot of myself. It is going to be hard for you just trading the last hour of trading. What are your future plans after highschool ?
I highly recommend you read these 3 books.
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0471059706&itm=1
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0471592242&itm=1
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=EK6b5E8CB3&isbn=0132157578&itm=1
As far as your original questions.
I have been trading YM for 9 months now and I average around 18-20 points per trade.
I strongly agree with porgie and ripcat about using a demo before going live because futures are a different animal from tradign stocks.
Thanks for the help, I have thought about reading those books, as I have been trading I have been understand how much more of a mental process it has been, so I'll definately invest in those books when I can.
About demo account, I'm going to have to use it for the next 2 or 3 weeks until I can fund my account, so I'll be able to see what I can do the last hour of the market, so I'm hoping to do well. I'd aim to make 10 - 20 points a day, but breaking even I'd be happy with since I'm still new.
But thanks for the help, I'm trying hard to learn the markets, my friends and even my family thinks I'm absolutely nuts for even trying this, everyone believes it is the same as gambling around here, so, I don't get any support around here, but I push on.
I had planned on going to college after high school, but at my past job, only bringing in around 350 to 400 a month, just wasn't paying off, and I really don't feel like flipping burgers to make extra money, because I know I can do more productive things to better my career than that. I'd like to continue trading after high school, and then once I can afford to go to college, I'll do that as well. My big dream is to travel around the world, and I just wouldn't be able to do that working a 9-5 job and trying to pay bills and such, unless I strike a huge tech job, but, I don't know.... but I am enjoying trading so much that I have been more and more determined to learn how to be a better trader.
So, i'll have to see what happens.