stormygolds
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is +800 points per months trading us futures index a realistic profit target ?
Thx
Thx
+800 point / months ?
- Thread starter stormygolds
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trendie
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I will let you know in 3 weeks time !!
It is, on average, 40 points per trading day.
The ATR of the Dow is around 70. So, it is feasible. But, I think, only just.
Have you monitored Chartmans ( and co ) weekly trades log ?
You can get an idea by reading all the Dow Weekly threads, as the trades are posted.
Have a read of them.
It is, on average, 40 points per trading day.
The ATR of the Dow is around 70. So, it is feasible. But, I think, only just.
Have you monitored Chartmans ( and co ) weekly trades log ?
You can get an idea by reading all the Dow Weekly threads, as the trades are posted.
Have a read of them.
In my view , setting fixed targets is a trap of greed . from experience , when you set a target , the opposite tends to happen - you lose $ for that month .
the market is unpredictable , anyone who says otherwise is taking it .
so take what the market gives , use strict risk control and the points / money will take care of itself.
the market is unpredictable , anyone who says otherwise is taking it .
so take what the market gives , use strict risk control and the points / money will take care of itself.
TheBramble
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Stormy, how long have you been trading your system that you're giving us the targets for? How many pts/month have you been making on that?stormygolds said:
I would be surprised if anyone could sustain 800pts per month from indicies, or futures. Someone who knows the instument well could make something near that from forex, with strict controls as previously posted.
I also agree with the sentiment that setting targets such as this is based on greed and is dangerous, and is likely to end in tears.
Unless you have a huge trading account and are prepared to absorb frightening drawdowns my humble opinion is that the only way to make a sustainable profit is to day trade your chosen instrument, with a loose daily aim and quit when it's hit, then wait for tomorrow.
i.e today I shorted cable at 1.8109 before 9.00am, and was out before 10.00am at 1.8086, 23 pips in an hour, no stress, screen now off, forget it for the rest of the day. (Not all days are this easy).
Dave
I also agree with the sentiment that setting targets such as this is based on greed and is dangerous, and is likely to end in tears.
Unless you have a huge trading account and are prepared to absorb frightening drawdowns my humble opinion is that the only way to make a sustainable profit is to day trade your chosen instrument, with a loose daily aim and quit when it's hit, then wait for tomorrow.
i.e today I shorted cable at 1.8109 before 9.00am, and was out before 10.00am at 1.8086, 23 pips in an hour, no stress, screen now off, forget it for the rest of the day. (Not all days are this easy).
Dave
Quote, I would be surprised if anyone could sustain 800pts per month from indicies, or futures. Someone who knows the instument well could make something near that from forex, with strict controls as previously posted..................
I have never heard so much rubbish. Maybe 95% of people can't make 800 pts per month but I watch mrmarcus from these boards make 700 pts per week on one contract.on the mini Dow. I watch him make these trades live I see him pull the trigger and see his account Statements. I know how he does it but before anyone asks i'm not telling.
Take yesterday for example 23 plays all winners. one contract 280 pips all contracts (scaling out 500 pips)
Don't limit yourself to targets take what the markets offer.
Its not easy it takes hard work and lots of dedication but its there for the taking.
Don't believe the doubters with hard work and practice anything is possible.
I have never heard so much rubbish. Maybe 95% of people can't make 800 pts per month but I watch mrmarcus from these boards make 700 pts per week on one contract.on the mini Dow. I watch him make these trades live I see him pull the trigger and see his account Statements. I know how he does it but before anyone asks i'm not telling.
Take yesterday for example 23 plays all winners. one contract 280 pips all contracts (scaling out 500 pips)
Don't limit yourself to targets take what the markets offer.
Its not easy it takes hard work and lots of dedication but its there for the taking.
Don't believe the doubters with hard work and practice anything is possible.
Buk said:had a lie in today Dave????? :cheesy: seriously tho.....I agree, a tight, well honed strat(s) combination (intraday/swing) adhering to strict levels will offer you consistant plays on those instruments
yeah, got to work at 8.15, would have been in 10-15pips higher if i'd been in before 7.30am, but god knows I need my beauty sleep
Would have probably still taken 25pips though so no real difference.Dave1971 said:yeah, got to work at 8.15, would have been in 10-15pips higher if i'd been in before 7.30am, but god knows I need my beauty sleep
Dave1971 - I've been studying today's USD/GBP chart especially around the time you made your short trade - are you able to shed any light? I can't see the set-up you were trading at all. . . . . . break of the uptrend starting at 9am y'day and breaking at 7.30am today?
As always - grateful for any pointers.
Thanks
fastnet said:
I use a 1 hour chart usually set at about 2 or 3 days viewing, (sometimes I expand to 1 week to pick up longer term trends) and simply look for breaks of trend or support or resistance. Today you would see that cable has been in an uptrend for about 5 days which it broke early this morning.
As a general rule the longer the trend the more convincing the trend break is likely to be. I took 23 pips today, which looking at it now looks foolish because it has hardly paused on its way to what would have been well over 100pips. However I have held positions open in the past only to see them reverse, so on balance I am happy with the little and often approach, rather than absorbing losses whilst waiting for moves like today.
I am sure there are many who will consider this strategy flawed, but it works for me, for now....
Dave
fastnet said:
On a risk reward ratio I run pretty wide stops, usually around 20pips, but as a loose rule. Breaking the top/bottom of the last candlestick in the wrong direction is usually when the alarm bells start to ring and I start looking for an exit. (in this trade that was the top of the 8.00am candle at 1.8117)
My take on the hourly chart is that it not only broke the 5 day trend, but also formed an upside down saucer pattern, the top of which is just under 1.8140
I'm not one for stats or over analysis of my performance, but I reckon I get about four out of five entries right, errors come from that greedy second trade in a day or hanging in too long to see it reverse.
As my strat develops I have learned that if I can not get out at a reasonable profit in 3 or 4 bars then I should cut it at breakeven or there abouts.
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stormygolds
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Dave1971 said:
Here my cable call for this week "posted last monday "
==> http://www.trade2win.com/boards/showthread.php?p=129992#post129992
stormygolds said:
stormygolds
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Stopped @1.8150 : -40
cancelled the rversal trade
rentry again short @1.8110
Kind regards
Stormy ..
cancelled the rversal trade
rentry again short @1.8110
Kind regards
Stormy ..
anyone that is willing to absorb big drawdowns is trading without good risk control . this is not a serious operation in my book , one is playing with fire and courting disaster . believe me I have real live experience of this with my ex firm.
more important than hard work and dedication is a high reward / low risk system . simple as that otherwise , 90% of traders would be rich . this is not ditch digging where you can just turn up , " put your back into it " and the more you do , you more you get .
NO. this is a mindgame , and you must understand the subtleties before you can even enviage winning.
in my view the 1st law if trading is NOT to lose , rather than how much can I win , which is an unattractive proposition for most people.
more important than hard work and dedication is a high reward / low risk system . simple as that otherwise , 90% of traders would be rich . this is not ditch digging where you can just turn up , " put your back into it " and the more you do , you more you get .
NO. this is a mindgame , and you must understand the subtleties before you can even enviage winning.
in my view the 1st law if trading is NOT to lose , rather than how much can I win , which is an unattractive proposition for most people.
stormygolds
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Quote from stormygold:
** US Indices Futures Trades suggestions **
** Trading Period 27 September -> 01 October **
----------------------------------------------------
S&P500
short @1117 stop 1120
target #1 : 1112
target #2 : 1105
target #3 : 1100
target #4 : 1095
Long @1104 stop 1099.5
target #1 : 1110
target #2 : 1114
target #3 : 1117
target #4 : 1124
----------------------------------------------------
Nasdac 100
short @1427 stop 1432
target #1 : 1420
target #2 : 1415
target #3 : 1410
target #4 : 1400
Long @1381 stop 1376
target #1 : 1391
target #2 : 1401
target #3 : 1411
target #4 : 1425
----------------------------------------------------
DJI
short @10150 stop 10180
target #1 : 10120
target #2 : 10100
target #3 : 10080
target #4 : 10050
Long @9942 stop 9910
target #1 : 9975
target #2 : 10000
target #3 : 10050
target #4 : 10100
----------------------------------------------------
Please correct me if errors ..
All Comments are welcome
Thx
Best Regards
StormyGold ..
:::: Results ::::
----------------------------------------------------
S&P500
entry Long @1104 :: Exit @1129
=> +25 points
----------------------------------------------------
Nasdac 100
Entry Long @1381 :: Exit @1416
=> +35 point
----------------------------------------------------
DJI
No trade ...
----------------------------------------------------
==>Total : +60 points (S&P and NQ)<==
Please correct me if errors ..
All Comments are welcome
Thx
Best Regards
StormyGold ..
