I just wanna know how many points per day/week, each individual trader (of the DOW in particular) on this site, will consider as being a resonable profit. I have been spreadbetting the DOW and FTSE 4 the past 6/7 weeks so i would just like to c how well (or even badly!) i am doing in comparison to other traders.
Newtron Bomb
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ive been happy doing about 50/60 points a week on average, while am getting the feel for the Dow, and am stopping trading after two consecutive loosing trades. Am not trading everyday or all the trading day. Am missing some of the bigger moves ATM but id rather be confident with a trade than nervous about it. Plus there is my social life to consider lol
There are others out there that are making some decent points. but i wouldnt like to speak for them.
HTH
There are others out there that are making some decent points. but i wouldnt like to speak for them.
HTH
It is very difficult to give figures per week. Trading is about probabilities and keeping the odds in your favour over the long term. The problem with having a target for each week is that you may miss some good wins because you've already hit your target for the week. This is the equivalent of cutting winners short. You need to make hay while the sun shines as they say!
Concentrate on developing a plan and then trading your plan. Have confidence in the plan that it has a positive expectancy in the long run.
Back test your system over at least a year. A reasonable system will average 100+ pts a week over than period.
But..remember, don't just concentrate on the profits. Look at the biggest drawdown over the backtest period. If that drawdown happened with real money could you continue to trade through it?
Concentrate on developing a plan and then trading your plan. Have confidence in the plan that it has a positive expectancy in the long run.
Back test your system over at least a year. A reasonable system will average 100+ pts a week over than period.
But..remember, don't just concentrate on the profits. Look at the biggest drawdown over the backtest period. If that drawdown happened with real money could you continue to trade through it?
Newtron Bomb
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Grubs50
What exactly do you want to know? Is your trading living up to the standards of others trading the same market? I dont think it matters because we are all trading differently. Some may think my current average of very poor some may think its a good return, but as am only practicing i dont mind that few points for now. If your SB'ing then i personally dont think its possible to trade the smaller moves due to the nature of the trading vehicle and my trading style.
If you are making consistent gains no matter how small then you should applaud yourself for doing so well.
What exactly do you want to know? Is your trading living up to the standards of others trading the same market? I dont think it matters because we are all trading differently. Some may think my current average of very poor some may think its a good return, but as am only practicing i dont mind that few points for now. If your SB'ing then i personally dont think its possible to trade the smaller moves due to the nature of the trading vehicle and my trading style.
If you are making consistent gains no matter how small then you should applaud yourself for doing so well.
i sb the dow and ftse 100 futures only at £1/£2 a point but i just want to c whether my trading psychology or principle is sound compared to other ppls'.....i.e i don't close a trade on the dow for less than 50 points even if i have to stay with it for abt 3/4 days( usually get it in 2 days).
200 points a week recently has been average. Last week 500. Probably the same this week, with 200+ already on the table.
Sticking out for 50+ over a few days doesn't sound like a good idea to me. With goods entries, you can pick that up in an hour or less- take today as an example,100 points straight off the bottom 80 of them in half an hour. True, NOT usual.But patience is a virtue, and not being in a trade IS a position. No sign of an out, yet....My guess is it'll try 9300 again.
Sticking out for 50+ over a few days doesn't sound like a good idea to me. With goods entries, you can pick that up in an hour or less- take today as an example,100 points straight off the bottom 80 of them in half an hour. True, NOT usual.But patience is a virtue, and not being in a trade IS a position. No sign of an out, yet....My guess is it'll try 9300 again.
'not being in a trade is a position'................wise words chartman.........if only i could heed them at times.......i put in a limit order and get impatient and end up entering too early. I meant 50 points minimum. thx 4 probably the best trading advice i have recieved cos it is so relevant to my trading.
hehehe
