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Be Realistic in Your Expectations
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Be Realistic in Your Expectations

  #11 (permalink)
Elite Member
Massachusetts (USA)
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: YM
 
stephenszpak's Avatar
 
Posts: 778 since Jun 2009
Thanks: 144 given, 358 received

traderwerks

Ok, something tangible.

I didn't think professionals traded the YM. That's interesting.
I thought I read a number of years back of a professional who said
he had to average 5 ticks a day on the ES. Seems rather low.

You said: I believe it is fairly high

If you have a better idea of what 'high' is I'd appreciate it.

(Not interested in scalping personally.)

Hasn't such a question(s) as mine been asked in some poll?

I'm just trying to get an idea of what a better than average
day trader of the YM (1 contract) using a system makes.
Surely a manager of day traders on Wall Street HAS to know
such a thing. It can't be subjective to him/her.

Just had a thought. Is the data of trading tournaments valid.
Maybe I could look at that???


Not many responses here, but thanks for yours.

- Stephen

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  #12 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Optimus
Favorite Futures: TW
 
Posts: 693 since Jun 2009
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stephenszpak View Post
traderwerks

Ok, something tangible.

I didn't think professionals traded the YM. That's interesting.
I thought I read a number of years back of a professional who said
he had to average 5 ticks a day on the ES. Seems rather low.

You said: I believe it is fairly high

If you have a better idea of what 'high' is I'd appreciate it.

(Not interested in scalping personally.)

Hasn't such a question(s) as mine been asked in some poll?

I'm just trying to get an idea of what a better than average
day trader of the YM (1 contract) using a system makes.
Surely a manager of day traders on Wall Street HAS to know
such a thing. It can't be subjective to him/her.

Just had a thought. Is the data of trading tournaments valid.
Maybe I could look at that???


Not many responses here, but thanks for yours.

- Stephen

I don't really quiz people on their daily stats. People who are successful at trading tend not to talk much, probably because they don't have a reason to talk about things.

I don't know of anyone else that trades the YM professionally. He is the only one I know of that trades it. Sorry I cannot give a better number. I know he did well trading it. Don't know why he traded it, but the probably because that is where he could make the most money with his system. I really don't like the YM that much , but to each his own.

But here is a question. Why do you care what a 'better than average' day trader makes ? It is your job to take as much money as you can from someone else's account and put it into your account.

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  #13 (permalink)
Elite Member
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Futures Experience: None
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Posts: 778 since Jun 2009
Thanks: 144 given, 358 received


Traderwerks wrote But here is a question. Why do you care what a 'better than average' day trader makes ? It is your job to take as much money as you can from someone else's account and put it into your account.

First, I sort of liken trading, to card counting in blackjack in a casino. The casino, ie. 'house' being the 'market'.

Someone I read on-line
once said that trading (can't remember the exact phrasing, sorry)
wasn't a fight against all the other traders in a given market, but a fight against yourself.

So my outlook would be NOT along the lines of taking someone
elses money. Of course to each his own.

I've been working on a system using NT. It's taking a long time
since I'm not a programmer. (I won't bore you with links to threads at NT's forums, just take my word for it.) Once I get rid
of the current error maybe I can actually try some different stop
values, etc.

If I spend XX hours doing that and the best I get in Market Replay averages so much a day, I don't want to assume this is
decent just because it took me so much time and effort to arrive
at that. Of course $10,000 a day for one contract is a joke, but
where does the joke end? $1000? $900 $800

- Stephen

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  #14 (permalink)
Elite Member
Mississauga,ontario
 
Futures Experience: Intermediate
Platform: ninja trader
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power's Avatar
 
Posts: 6 since Dec 2009
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Money Management & Potential ROI
Initial investment per 1 contract $3500
Available margin requirement $ 500
Target per day $50
Available # of days for Trading/week 5
Risk per trade @ 2% of Initial Investment ($3500) $70
How many trades needed at a stretch to loose 50% of initial investment 25
1) ROI after 1 month@28 % approx $1000
28 PERCENT PER MONTH%, that’s not bad!!!
2) Add 1 more contract after $50 target is achieved for 1 month
Potential ROI after 2 month if $50 Target is achieved everyday $2000
3) Add another contract after $50 target is achieved for 2nd month
Potential ROI after 3 month if $50 Target is achieved everyday $3000
4) Add another contract after $50 target is achieved for rd month
Potential ROI after 4 month if $50 Target is achieved everyday $4000
Total investment needed to reap 28% per month or $4000 for 4 contracts $14000

DO’T MOVE TO 2) above IF CONDITION 1 IS NOT ACHIEVED, LIKEWISE DO’T GO TO 3 OR 4 IF CONDITION 2 OR 3 ARE NOT MET

DO’T CHANGE THE STRATEGY/SYSTEM IF 25 CONSISTANT TRADES ARE NOT LOST ….IF SO DO THINK TO CHANGE THE SYSTEM, BOTTOM LINE 1 WINNING TRADE OF $50 EVERY DAY

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