Quote from Scientist:
1. I appreciate your (actual) honesty. Anybody else??? LOL
2. Don't even think about giving your cash to any of those wannabes
3. Don't kid yourself. You aren't in the company of superdooper traders. You're actually in the company of multi-posting wannabes how've been here for years trying to figure out how it works... At least 95% of ET posters are losers.
4. 1-3pts per day per contract? Well unless you're undercapitalized, you're making more money than most ppl in the US, not to mention the whole world... Goodonya!
5. I try to make a minimum of 3pts per day on the ES, a few more on the NQ. On perfect days, I make up to over 10 pts, but that is an exception. 3-6pts is a realistic average goal. That is because I've been agonizing over chart patterns, fibonacci retracements and circles, keltner channels, candles, bars charts, and many more for hours everyday, doing lots of pre-and-during market re-drawing of those special magic pivots to catch larger moves, plus I'm generally scalping a lot. All this combined can give me multiple points.
Because I trade this way, I tend not to use full contract size (I don't trade 50 contracts on a vague retracement, OK?)
6. It is actually rather subjective to look at the #of points, since you have to look at that number + your commitment to that trade. If you can capture 8pts - Fine. But if that's only on 20% of your capital, well, might as well go for 2pts on 100%... ?
7. I am a firm believer that it's not good to trade trade more than 1 contract per 7.5k worth of actual capital (and that's capital, not margin - even less if you're risking more than 2.5pts). So that's my personal defining line. If you've got 75k and you trade 10 contracts, you have a 100% commitment to the trade.
8. Because if you do, then the haunted day will come where you can't get out for 25pts (i.e. globex shutdown) no matter what you do, which happens to every day trader who's been around for a while. This will then more than likely kill you. Some excellent trader just warned me regarding this very recently...
Besides, you'll die from stress over time...
9. Essentially, pussycat : 8pts average per day (160/month) = BS
Goodonya, candle
10. Looks like the candle is on the giving side, while the pussy is on the receiving side...
~Scientist
P.S: These were my 10 points
Thanks for your kind words, Brother Scientist... my very long run average points on ES per contract per day is at the lower end of the 1-3pt range, its around 1.5pts... but I do trade very decent size (the maximum size I have ever done on single trade was 30 contracts, but I am usually very much lower than that) ... somehow, I never see myself having a long run average of more than 2pts, unless there is a major and sustained improvement in the intraday range...
My comments about people making 5-10pts per ES contract per day as an average weren't serious... I was being sarcastic and I do not intend to hand over my capital for them to manage!... I am prepared to assert that they are either a bunch of liars or are making up to 1-2 million dollars a year on 10-20 lots, if they are averaging 10pts a day... yes, maybe a few are, but not 33% of those who voted!!... personally, I just don't see how its possible to extract such a high number of points as a daily average... either way, I wish em well... remember, we are talking long-run averages here, not just the ocassional 5pt to 10pt day, which we all get...
