Weekly points target for Dow and FTSE

grubs50

Well-known member
408 0
As someone who likes setting weekly trading targets, i am seeking opinion about what can be regarded as the minimum weekly points target that a half decent trader should aspire to make trading the Dow and FTSE...................and if the type of trading i.e day or swing is a factor i would love to have suggested targets for both scenarios...........and finally it would be nice to know the reasons or even formula on which ur suggestions are based.

Thanks
 

Richbynature

Junior member
20 0
I don't believe in targets - only a system that is clearly profitable in the long run. I trade Eur/US$ and make about 25 pts per day there (can't compare that to equities as spreads are tighter on fx).
 

frugi

1
1,827 126
I like china white's method:

Take a look at front end volatility. For the S&P (a reasonable enough proxy for the Dow) I believe this is derived from the VIX or VXO. At present it is about 18.5% (annualised) as they are both around 18.5 (not absolutely certain about my interpretation here).

Obtain the DAILY volatility given 252 trading days in the year:

18.5/square root(252) = 1.17%

Dow is 10250. 1.17% is 120 pts a day.
SPX is 1118. 1.17% is 13 pts a day.

This is the daily range one can expect.

If you pocket half of these points daily you are doing very well and a third is not bad. So I guess that means 200-300 Dow pts a week is the target to meet...
 

Bigbusiness

Experienced member
1,408 23
Yes, buy when it is going up and sell when it is going down. Gets at least 300points a week every time :LOL:
 

donaldduke

Experienced member
1,665 257
200-300 a week sounds like a lot.
Aim for 500 a month with small drawdowns instead, and then you can trade
at say 20 pounds a point and make £10,000 a month.
 

andrewmooton

Active member
192 1
Donald,

Would you be willing to share or do you know of any strategies that would allow you to get 500 points/month?

I'm spread betting by the way and I only have about £500 - £600 to start with.

Cheers
 

Bigbusiness

Experienced member
1,408 23
Andrew,

It was a joke. Have you looked at Chartman's threads? There was a summary of his methods but I can't seem to find the link. Perhaps someone can post it here.
 

schoe

Well-known member
343 3
Andrew, Many people on this board have spent several thousand pounds and several years learning to trade and become profitable. 97 % of spreadbetters lose their capital, everyone thinks they can do better that the others its called ego your biggest enemy in the markets. This is not an easy game to play and nobody is going to give away a system that makes 500 pts per month, they would just keep it quiet and trade it themselves.
You wouldn't expect to be able to perform brain surgery without studying for many years, trading is the same.
On the face of things trading sounds easy, it can go up or down 50/50 but the markets arn't like that in reality they whipsaw go sideways and stop you out before reversing to drive you nuts. Thats the dilemma when do you take your profits, when do you cut your losses, its all about judgment and it takes years to learn I for one am still pracitising and am under no illusions as to how tough it is. I've been on about 5 courses, been to nightschool, bought systems and methods and only now am getting close to becoming a winning trader.
I suggest you be very careful with your money as you will lose it without question if you start trading with your knowledge and if you start off by winning that is even worse as a disaster will be around the corner. I have heard of one trader who
Saved for two years to enter the market.
Built up £5000 of trading capital,
Spent £2000 on a course and software,
Started trading 1 day after his course,
HE LOST £6000 IN 26 MINUTES, HE COULD NOT MEET HIS MARGIN CALL,
HE HAS CCJ'S AGAINST HIM AND WAS PAYING THE DEBT FOR YEARS.
THE date was September the 11th 2001
IT CAN HAPPEN AGAIN.

Sorry to be negative but the most important thing to remember is not what you can win but how much you can lose. 2% is the recommended loss on a trade that gives you a tenner ! Spend your money on books and learn gradually if you start trading you have little chance.
 

TheBramble

Legendary member
8,395 1,171
Mark - very wise advice.

Andrew, with the greatest respect, you are heading for a fall.

You've hit so many different threads on t2w asking for someone to give you a winning system.

The first person that comes along and says they are going to hand you a 'guaranteed' system to make money trading the markets and you are going to go for it.

I don't think anyone on t2w can stop that.

Go for it. Get it out of your system.

When you've lost your first tranche of capital and got over the pain and the 'decision' to never trade again - come back, save your money and start listening to what the good folks here are telling you.
 

andrewmooton

Active member
192 1
Thanks for the advice Bramble.

But the thing is, if other ppl can be successful at it and they have a system which gives them that success then I dont see why I cant be successful too.
 

TheBramble

Legendary member
8,395 1,171
It's not the system that makes the money. It's the trader.

Learn to be a trader - then get your system.

I'm really trying to encourage you Andrew, but in a direction I don't think you want to go.
 
 
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