looking for a system generating $150 - $200 profit/ day/contract
I am a beginner trader and was wondering does anyone have any good system they can refer me to which allows to profit approx $150 - $200 per day trading one contract of es ym nq crude or rus or currency. Please advice if you are using any system currently successfully.
The following user says Thank You to jonathanbloom3 for this post:
Sorry I was a bit too negative and decided to delete my comment,
We all need positivity and support after all
Jonathan, trading is a very difficult skill. If you are prepared to spend thousands of hours learning, you can become a great trader. Do not buy any systems or expect easy profits.
Whether you decide to take up this immense challenge or not, I wish you all the best.
To explain my previous comment: Your question is like me asking in a golfing forum "Does anybody have a system for getting a hole in one?", of course, the answer is hard work, persistence and practice.
Last edited by TurismoTek; November 2nd, 2014 at 10:35 AM.
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Do you seriously believe and expect that somebody would drop in and hand you over a successful trading system just like this over the internet for free and to a complete stranger?
And this assuming that such a thing can be done in the first place...
Please do yourself a favour, and stop looking for successful systems here and there.
Start learning by yourself, and for yourself; lots of books, webinars, forums out there to ask the right questions and experiment.
Bluntly: nobody will ever hand you over such a system, even if you pay for big time!
Good luck with your new endeavour
Successful people will do what unsuccessful people won't or can't do!
The following 2 users say Thank You to Fadi for this post:
Guys, dont be rude. The only stupid question you can ask is the question what you are not asking. At least he is clear and honest.
@jonathanbloom3 everybody is looking for this here! Someone has it, and they are here to keep maintain it, some folks doesnt have it, but they know that they will have it, and some other guys just heard about it, so they are here to have it. But frankly speaking the answer is you. If you will learn trading you will have that system, so you do have to learn it. I do not know you so I can give you some idea where you can start.
Easy way. You would like to start automated system. My personal number one is this, even I have never tried it, becuase I doesnt have the capital for it, but I would try it, if I would have some money, just because it is a different method what I personally use:
- Home . You can ask more about it from @sam028 He would have some personal experience with them, also he can help you to put together a VPS to run the system (http://www.speedytradingservers.com/resources/dom993 )
hello jonathanbloom3......like others have said, it is not an easy task Developing your own Profitable Trading System.
And most likely no one is going to just hand over a Profitable System to you.....But before you actually start your Live Trading...you need to make sure you Understand all the Risks involved in the Futures Markets.
You did not Mention any Details of your Knowledge other than beginner Trader.
So, make Sure you are reading , and Learning also about the Risks, as you are Developing your System.
Do you have a Demo Account open, so as to start Designing your System, as well as Following the Markets?
On the System part you are asking about....I will give you this to start with....when you are looking for Trades during the Session...you should be watching more than 1 Size Chart for that Market...Set up your Charts, and keep this in Mind:
You will be Looking for Trades in the Intraday Swings of the Market/Day Trades, as you have Mentioned that is what Style you want to focus on.
Keep posting here , as of your progress to show us where you are in this process of getting set up to trade.
Start with ES...E-mini S&P Futures, as this is all you will need to make that $200 daily.
Focus on 1 Market first...learn it.
I will post some charts at a later time to give you an example of what i have mentioned above.
The following 3 users say Thank You to sandptrader for this post:
I am sorry, Jonathan, but you are not going to find it.... Not here, not anywhere.
You are essentially asking for a risk-free, easy way to get rich. Aside from the fact that there is not likely to be such a thing, do you think that anyone who had it would provide it to anyone else, at any price?
You certainly can find people who will promise to provide this for a modest (or sometimes large) amount of money, but do you really think it would work? If it did, they would just use it themselves instead of selling it, no matter what the price.
There is a lot of extremely good information out there on trading, and there is quite a lot of it here on futures.io (formerly BMT), but, sadly, to succeed you will have to put it together for yourself, learn what works for you, do some trading and learn from both your successes and your losses, and, if you can keep the losses under control, eventually learn your own way.
Other people on this forum can and will help, with advice and information. If you work at it, you can succeed. But there is no quick shortcut.
That's either bad news or good news, depending on how you look at it....
Good luck. Keep looking around here. Improvement is possible... it just might need some hard work.
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I understand that your advice is well-intentioned, and I know I sound demeaning trashing on people, but here's my honest two cents:
I've seen this person's posts on another forum (ET) and you should take a look for yourself to make a fair assessment. I don't believe that something he has authored has the quality to deliver long-term capital growth.
It's a worse sign that all of his proposed "systems" are presumably different systems and on the same product. If you draw from the same lucky draw box 10000x without replacement, you're eventually going to draw a prize or two, but it doesn't say anything about your skill at drawing prizes.
At the end of the day, even if you don't buy the above reasoning, here's two more to think about:
1. There's two large conflicts of interest if you're selling a trading system: if it works, you have no reason to sell it and even if you did sell it, then your clients profits are asymptotically zero with increasing number of clients.
2. This is a billion dollar cost industry - there wouldn't be the need for people to spend so much money on research and development if the barriers to entry are so low. There wouldn't be a need for trained heart surgeons if you can just purchase a successful heart surgery from a one-man show from the internet.
What you should do is to think carefully what you really want, what your skills and personality are suited for, and invest the appropriate amount of time and effort into achieving it rather than finding shortcuts, because none exist.
I'm completely against TST if you're implementing an automated strategy, because most of their requirements are arbitrary and quite frankly, meaningless - unless they're assessing your psychometric ability to take orders from authority without questioning, in which case they should draft you into the army rather than fund you as a trader:
- trade a minimum of 10 days - always implement stops with an open position
- only trade permitted products, during the permitted times - achieve an Average Net P&L greater than $0 for each product traded - achieve an Overall Winning Day percentage of 55 or greater - ensure my Largest Losing Day will not hit or exceed my Daily Loss Limit - ensure my Account Balance will not hit or exceed my Trailing Max Drawdown
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The OP wants a SYSTEM that generates daily profits of X...
Could be more or less than this (just read the main journals carefully here).
Trading is NOT like a guaranteed fixed salary end of month when working.
There are small and bigger gains from time to time - and some drawdown can erase all your gains or more.
So there is NO guarantee for success - especially a linear one.
The question should be: how many win percentage on investment are you
looking for: 1%, 5%, 100%? and all other.
If you can reach a win rate CONSISTENTLY over the years - you might optimize
to push this win rate even higher. With some scaling your total win will get higher
All said above needs quite some experience and knowledge of the market(s).
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