10% per day, no way - Psychology and Money Management | futures io social day trading
futures io futures trading


10% per day, no way
Updated: Views / Replies:9,920 / 87
Created: by sysot1t Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 3  
 
Thread Tools Search this Thread
 

10% per day, no way

  #21 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received

There are sooo many variables here...

Do you mean make 10% every day or on average?

Do you leave your earnings in the account increasing the amount required to earn per day or withdraw them?

Does a $2 profit per day on a $200 micro account have the same validity of $10,000 profit on a $100.000 account?

Unless one can prove it is NOT possible to do this ... one cannot state as fact that it is impossible...

How would you prove it IS possible? What time frame do you measure by? A week, month, year ... what if the next day you had a loss.. would that negate the previous year of trading experiences?

Which leaves everyone to their own opinion...


My opinion is...

More importantly.... how many Angels can dance on the head of a pin....

Regards,
TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following user says Thank You to ThatManFromTexas for this post:
 
  #22 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received

Don't let me tell you it can't be done, but it can't. Great returns would be 10% per month, godly returns would be 20 or 30% per month. Heck, even just breaking even is no small feat, that in itself is above average.

If someone can make 10% per day for just 10 straight trading days, I'd be bowing at their feet. And that's not even trading every day, just any given day the person decided to trade.

Higher returns necessitate higher risk, it's the way it works. In 10 trading days, a 10% daily compounded return would be 259%, in 20 days, 672%, in 30 days 1744%!

Reply With Quote
The following user says Thank You to josh for this post:
 
  #23 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received



josh View Post
Higher returns necessitate higher risk, it's the way it works. In 10 trading days, a 10% daily compounded return would be 259%, in 20 days, 672%, in 30 days 1744%!


Depends on the rules...

$200 micro account, 10% per day, withdraw all winnings daily.

$2 X 20 trading days per month X 12 months = $480 per year

$480 / $200 =240% per year

240% APR is reasonable ... right...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #24 (permalink)
Member
Australia
 
Futures Experience: Advanced
Platform: Self-made, Multicharts, AmiBroker
Favorite Futures: Stock, Futures, Forex
 
Posts: 32 since Nov 2010
Thanks: 7 given, 21 received

I clearly said it's impossible to do it everyday, but it's completely doable to get 10% or more per day on average (of course market's money technique is a prerequisite).

To use market's money technique, of course you must use your existing profit just like it's not your money (e.g. you can't withdraw it). In the past, there are a lot of great trader that already use this technique. They generate ridiculous return 2000% return per month (not every month, but they do happen). There was one trader who turn $100k to $3 million in 3 months.

I'm saying it's "technically possible", but that doesn't mean everybody can do it because psychology is the main reason why human is soo fragile when comes to trading.

I think the reason why people say it can't be done is because they can't do it themselves or perhaps they don't even know how to do it. But that doesn't mean it's impossible to do it.

One thing that is sure when comes to traders who use market's money are they usually generate "unusual return rate" AND ALSO they have "unusual drawdown". Just a word of warning, I put emphasise on "unusual drawdown". If you still struggle with normal money management technique, then stay away from this technique.

Reply With Quote
The following user says Thank You to felixtjung for this post:
 
  #25 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Well, you all figured it out, how to sell 10% per day to a prospective trader! Now, build your 200 page scroll down web page and use all the other wonderful phrases and you will be banking in the VENDOR MONEY! wooohooo!!!!

Reply With Quote
The following 2 users say Thank You to bluemele for this post:
 
  #26 (permalink)
Member
Australia
 
Futures Experience: Advanced
Platform: Self-made, Multicharts, AmiBroker
Favorite Futures: Stock, Futures, Forex
 
Posts: 32 since Nov 2010
Thanks: 7 given, 21 received


ThatManFromTexas View Post
Depends on the rules...

$200 micro account, 10% per day, withdraw all winnings daily.

$2 X 20 trading days per month X 12 months = $480 per year

$480 / $200 =240% per year

240% APR is reasonable ... right...

It sounds like you just invent your own holy grail system. But if you are talking about market's money, then you will be extremely disappointed. LOL.

1. You can't withdraw "any" of your profit.
2. You haven't consider the drawdown that might occur (40%, 50%, 70% ???)

Reply With Quote
 
  #27 (permalink)
Member
Australia
 
Futures Experience: Advanced
Platform: Self-made, Multicharts, AmiBroker
Favorite Futures: Stock, Futures, Forex
 
Posts: 32 since Nov 2010
Thanks: 7 given, 21 received

Geez, I'm washing my hand from this thread! I'm just talking about advance money management technique here, you guys begins to day dream. >.<

Reply With Quote
 
  #28 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received


felixtjung View Post
I clearly said it's impossible to do it everyday, but it's completely doable to get 10% or more per day on average (of course market's money technique is a prerequisite).

To use market's money technique, of course you must use your existing profit just like it's not your money (e.g. you can't withdraw it). In the past, there are a lot of great trader that already use this technique. They generate ridiculous return 2000% return per month (not every month, but they do happen). There was one trader who turn $100k to $3 million in 3 months.

I was wondering what you were referring to as to the technique.. I didnt feeling like searching for it... but it appears you are referring to merely compounding, increasing your contracts as your account increases... if that is the case, I always assume one does that.. personally I set aside 25% of the profits on the account as a buffer... does not mean I draw it, but rather that I keep it with the broker on a separate account in the event I had f*up really bad and I need to start from somewhere... my long term plan does forces me to "draw", meaning I return funds back to my IRA for other investments... but at the same time, while the $$$ is not in use, I leverage it to increase the profits...


felixtjung View Post

I'm saying it's "technically possible", but that doesn't mean everybody can do it because psychology is the main reason why human is soo fragile when comes to trading.

I certainly agree... not the same thing trading with $10K on your account and risking 3% and trading $200K and risking the same 3% but it is now $6K.. I can only imagine what happens when one has $1MM... and risks $30K a pop... but the truth is, tha there are those that can do it and do it every day.. and those that do it with more than $1MM...


felixtjung View Post

I think the reason why people say it can't be done is because they can't do it themselves or perhaps they don't even know how to do it. But that doesn't mean it's impossible to do it.

hehehe, you hit it right on the nail IMO...

those that always say that something is impossible, that it cant be done, are usually those that lack the ability to push themselves to the limit, and that lack discipline... one of my personal heroes, is Herbert Nitsch.. the dood pushes himself to compete with himself, to break his own records, and has achieved some feats that most humans would say are impossible; yet, he has proven the impossible possible by working hard and pushing his limits, and that of the human body...

as I said, I dont let anyone tell me something is impossible.. so 10% per day... very much possible... .. though i have not found the way to make it happen yet..

Reply With Quote
 
  #29 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: MT4, StrategyRunner
Favorite Futures: ES,EUR/USD,Oil
 
TheSeeker's Avatar
 
Posts: 123 since Dec 2010
Thanks: 64 given, 65 received

Some think that 1% daily cannot be averaged , others claim that even 10-20% per year is impossible in the long run...


For inspiration, let's look at this forex contest:

King of the Micro | Monthly Forex Micro Trading Contest

here are the monthly winners:

King of the Micro Trading Contest


So at least for one month, 600%-1000% were achieved by the respective winners, of course using crazy leverage.

Reply With Quote
 
  #30 (permalink)
Member
Australia
 
Futures Experience: Advanced
Platform: Self-made, Multicharts, AmiBroker
Favorite Futures: Stock, Futures, Forex
 
Posts: 32 since Nov 2010
Thanks: 7 given, 21 received



TheSeeker View Post
Some think that 1% daily cannot be averaged , others claim that even 10-20% per year is impossible in the long run...


For inspiration, let's look at this forex contest:

King of the Micro | Monthly Forex Micro Trading Contest

here are the monthly winners:

King of the Micro Trading Contest


So at least for one month, 600%-1000% were achieved by the respective winners, of course using crazy leverage.

The nature of competition and trading for living are very much different. In competition, the luck element is much higher. Such leverage level is simply impractical in real trading which might cause a very serious drawdown. I rarely see the winner of trading competition remains a very successful trader in their live. Some champions do, most don't.

Reply With Quote

Reply



futures io > > > 10% per day, no way

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
10% per day, video journal Ryanb Elite Trading Journals 80 March 3rd, 2013 03:25 AM
effect of gains and losses of previous day on next day tradersam Psychology and Money Management 2 May 18th, 2011 04:35 PM
Calculate GAP (Close of Prior Day, Open of Current Day) bluemele NinjaTrader Programming 16 January 19th, 2011 10:19 PM
Problem with roll-over of CL 06-10 to CL 07-10 jharthun Reviews of Brokers and Data Feeds 15 June 13th, 2010 03:46 PM
Tiger Woods 10 Big Mike Off-Topic 1 June 23rd, 2009 09:54 PM


All times are GMT -4. The time now is 03:21 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.196.201.241