How much should I be making on one contract per day? - Traders Hideout | futures io social day trading
futures io futures trading


How much should I be making on one contract per day?
Updated: Views / Replies:1,022 / 4
Created: by emptymind Attachments:0

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 100,000 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
 
Thread Tools Search this Thread
 

How much should I be making on one contract per day?

  #1 (permalink)
San Diego California
 
 
Posts: 129 since Oct 2015
Thanks: 23 given, 50 received

How much should I be making on one contract per day?

After many years of trial and error, and mainly failure ....I feel like I am on the path to consistency...

My question is at what level do you consider yourself consistent/successful?
How much should I be averaging per day on one contract? Is $100-300 good enough?
During flat/low vol periods? Or during high volatility periods?

Reply With Quote
The following user says Thank You to emptymind for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
charlotte nc
 
Trading Experience: Master
Platform: ninjatrader
Broker/Data: NinjaTrader
Favorite Futures: Emini (ES, YM, NQ, ect.)
 
Posts: 379 since Jan 2015
Thanks: 69 given, 918 received

Keep in mind....


Hi emptymind,

It sounds like you are on the right track. There is no hard line in the sand from a dollar amount per contract perspective, this is going to be relative to a few other things.

1. Your risk profile is one of the key pieces here. Someone could use a martingale betting system and only lose 1 day out of every 100, but the one day they lose, they lose their entire margin account. So you need to factor in your risk profile to determine the quality of your earnings, not just the dollar value at the end.

2. Your profit margin is another aspect of it. Some systems have a very tiny profit margin, and this may not even be sustainable in the long run, so anything close to a break even, may need more work.

3. The number of trades per day should be factored in as well. If you have a system that takes 2-3 trades per day and seems to be doing well, that's great, but this is likely not enough data to be statistically significant. In order to get to a true expectancy calculation that is accurate, you will need to have enough data. A system taking 20 trades per day over 1 year will have a much more accurate expectancy calculation vs a system that takes 2-3 trades over a few weeks. The first example system you will likely see very little deviation from historical performance and the second example system will likely be over or under by a magnitude of 100x because there is not enough data points to draw any conclusions.

Having said all this, if you have a system that can check all of these boxes, then you only need to make 10 -20 net profit per contract per day and you can scale contracts and have a very nice living off of trading. It won't take $200 - $300 per contract per day to get you there..... You can get there with far less, and make your income scaling your system to 5 - 10 contracts if you have very reliable returns.

Hope this gives you some perspective.

Best of luck!

Ian



emptymind View Post
After many years of trial and error, and mainly failure ....I feel like I am on the path to consistency...

My question is at what level do you consider yourself consistent/successful?
How much should I be averaging per day on one contract? Is $100-300 good enough?
During flat/low vol periods? Or during high volatility periods?


In the analytical world there is no such thing as art, there is only the science you know and the science you don't know. Characterizing the science you don't know as "art" is a fools game.
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to iantg for this post:
 
  #4 (permalink)
North Carolina
 
Trading Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 644 since Nov 2011

If you mean "average profit per contract" then $300 is not realistic for active day traders. A better way is to think about it in ticks or points. For the ES, if you can make more then 1 tick after costs then that is better then less then 1 tick because it probably means your strategy/trading is more likely to do well in the live. But, as iantg alluded, the amount you risk per trade and number of trades is important.

But, if you are a very active trader, say 6 or more trades per day, then around $16.50 per contract (1 tick plus costs) would be a great target. If you are only taking a few trades per day then 1 point to 1.5 points average profit per contract would be a top end estimate for the ES. This would be $50-$75.

But, this doesn't tell the whole story because risk and winning percentage is important too. A lot of trading systems might have a higher profit per trade but take a lot more risk then a discretionary trader and/or have asymmetrical skewed risk-- which can work if done properly.

As such, this is all very hypothetical and generalized. Keep in mind too, that we're assuming under either highly realistic simulation with limit order realism on fills or live. If you are not operating in those conditions, you need much higher profits to have confidence. Also, in live your results can be worse and you can still be profitable.

Profit factor is important too. Profit factor is gross profit divide by gross loss. Normally, as you seek to increase profit factor your number of trades will go down and your net profit. If you take more trades, you might make more but the trades you take will be mediocre meaning there is a greater shortfall risk.

Basically, if you're making money in live then that's basically good.

But I'd consider the following

Stellar, Any stats in this range are great, if all stats are in this range then it is stellar.
Gross Profit factor: >= 2.0
Winning Percentage: >= 65%
Avg # Trades Per Day: >=4
Net Profit Per Trade/Contract: >= 1 tick ($12.50)
Additional: Symmetrical or nearly symmetrical, avg win > avg loss, largest winning day > largest losing day, avg win day > avg losing day,

Average, more realistic, still likely profitable but confidence is lower
Net Profit Factor: >=1.2
Winning Percentage: >=55%
Avg # Trades Per Day: >=4
Net Profit Per Trade/Contract: >= 1 tick ($12.50)

If any of the stats are in the following range, you might or might not be profitable. But any stats in this range are questionable. If your stats are in this range, it might indicate that you are struggling or might have problems.

Net Profit Factor: >=1 <1.2
Winning %: <=50
Net Profit Per Trade/Contract:< 1 tick
Risk: Skewed to risk more then reward


Last edited by tpredictor; March 20th, 2018 at 07:39 PM.
Reply With Quote
 
  #5 (permalink)
Legendary Market Wizard
Switzerland
 
Trading Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,647 since Feb 2012
Thanks: 4,606 given, 9,451 received

Take what the market may give to you

There is only one rule of thumb:

There are some good days, lots of mediocre days and many bad days in the markets.

So instead of calculating winning points just

have an eye to your stop loss settings only!

Means for your system of trading:
optimize - optimize - optimize

Easy
GFIs1

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to GFIs1 for this post:

Reply



futures io > > > How much should I be making on one contract per day?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

$1,000 in Amazon Gift Cards being given away right now from GFF Brokers

Right now
 

$250 Amazon Gift Cards with our "Thanks Contest" challenge!

Right now
 

Show us your trading desks and win over $5,000 in prizes w/Jigsaw Trading

August
 

Webinar: Suri Duddella (TBA)

Elite only
 

Webinar: Richard Bailey (TBA)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Making a 100 a day Jayboii478 Traders Hideout 22 January 4th, 2018 01:50 PM
looking for a system generating $150 - $200 profit/ day/contract jonathanbloom3 Traders Hideout 39 November 11th, 2014 06:27 AM
Making every day count madLyfe Psychology and Money Management 4 August 5th, 2014 11:29 PM
No one really trades futures contract using daily chart due to changes on contract? Azharr Beginners and Introductions 2 September 29th, 2013 11:14 PM
In AutoTrading is a phantom (dummy) contract and a live (replay) contract possible? rpm123 Traders Hideout 7 October 15th, 2012 03:43 PM


All times are GMT -4. The time now is 03:57 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 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