8% per week - Trading Journals | futures io social day trading
futures io futures trading


8% per week
Updated: Views / Replies:3,738 / 29
Created: by sailingman Attachments:1

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
 1  
 
Thread Tools Search this Thread
 

8% per week

  #11 (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


sailingman View Post
This is about exactly what trades I am taking and why to hold me accountable. I am not there yet, but I know I will be because I can. I do not put other people's dreams down, and I would appreciate if that does not happen here.


There, I said it.

More power to you my friend. I certainly want you to reach your goals; I love reading the successes of others here on the forum; they help pick me up when I have down moments, and helps me "celebrate along" with them when I have similar celebratory moments. And belief in what we're doing is probably the most important thing we can have, for without it, we have no chance to push through the rough times. But trading is not about warm fuzzies; it's about cold, hard, boring, risk management. The simple math is that to achieve very large returns (which 8% average per week is), one must assume very large risk. So many people talk about how much they can make, and don't mention how much they risk in so doing. But, it sounds from your post that you have a risk management plan, so good luck and keep us posted!

Reply With Quote
The following 3 users say Thank You to josh for this post:
 
  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received

Congrats on taking the step of starting a journal.

But I have to at least say, you should set yourself up for success instead of failure. Part of that is having a realistic goal.

Based on post #6, it seems more realistic to set your goal to 2% per week and this will also make you happy to hit this goal, while if you still exceed it you will be 'very happy'.

This is just how I think, I understand setting goals but I advocate making them attainable. If you set unrealistic goals then you will possibly make unwise choices trying to get to them.

So bottom line, if you think 8% per week, week over week, is a realistic goal - then it is of course your choice, your money, and your journal. But if you think 8% per week is a pipe dream, it might be best to set a more realistic goal from the beginning.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #13 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


I've never understood why people set such profit targets... Are you planning on trading a variety of methods and be able to predict future volatility, or lack thereof?

Returns are asymmetric (at least in my corner of reality); weekly targets are detrimental to trading success. It's important to take advantage of opportunity when it presents itself, but one shouldn't try to force it into existence.

Reply With Quote
The following 5 users say Thank You to Lornz for this post:
 
  #14 (permalink)
Elite Member
near Paris, France
 
Futures Experience: Beginner
Platform: -
Favorite Futures: -
 
Nicolas11's Avatar
 
Posts: 1,070 since Aug 2011
Thanks: 2,232 given, 1,729 received


Lornz View Post
I've never understood why people set such profit targets... Are you planning on trading a variety of methods and be able to predict future volatility, or lack thereof?

Returns are asymmetric (at least in my corner of reality); weekly targets are detrimental to trading success. It's important to take advantage of opportunity when it presents itself, but one shouldn't try to force it into existence.

Hi @Lornz,

When trading is performed as a business, it does not seem so strange to have a kind of target, above which the business is viable, and under which it is not.

Of course, markets are what they are. And consistent profitability is difficult. But why not have a target in mind and statistically compare one's performance with it on the long run?

Nicolas

Reply With Quote
 
  #15 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


Nicolas11 View Post
Hi @Lornz,

When trading is performed as a business, it does not seem so strange to have a kind of target, above which the business is viable, and under which it is not.

Of course, markets are what they are. And consistent profitability is difficult. But why not have a target in mind and statistically compare one's performance with it on the long run?

Nicolas

Disregarding the fact that 8% a week is delusional, it is a fact that the market doesn't present an equal amount of opportunity each week. This means that a fixed goal usually leads to trading too much when one shouldn't, and not enough when one should trade more. There are benchmarks one can compare one's trading to, but that's very different from what the OP is describing. He just bought an automatic system and expects to make 8% a week. Sounds like brilliant plan to me!

Trading is about managing risk, not forcing returns.

Reply With Quote
The following 4 users say Thank You to Lornz for this post:
 
  #16 (permalink)
Membership Revoked
los angeles
 
Futures Experience: Intermediate
Platform: nt
Favorite Futures: cl
 
Sunil P's Avatar
 
Posts: 292 since Jan 2012
Thanks: 427 given, 175 received

I wish I could project 8% a week on CL consistantly but delusions of grandeurs is Not what this game is about.

Dog days of summer are coming also,I would like to see anybodys EC that would match that number...IMHO


Fats I see you bashing our national game?

Its ok,I dont like it anymore,lost interest in the late 80's. King Fusball is the national game now,no not Soccer!

Reply With Quote
 
  #17 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,276 received

The problem with setting lofty goals is that you will subconsciously set yourself up to to take unnecessary risks to achieve these goals. It will most certainly affect your decision making process as you notice these goals come in and out of jeopardy of being met. You can't force a method to give you more then it is capable of, nor force the market to give you what you expect. You have to work within the limits of your method and the volatility of the market.


Last edited by monpere; May 20th, 2012 at 12:07 PM.
Reply With Quote
 
  #18 (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

You can be successful trading like a business ... all you need to do is...

... develop a business plan with specific performance objectives ,adequate auditing to ensure adherence to the plan and a rewards/penalty program for meeting or failing to meet set goals ...do the statistical analysis to determine production quotas ... install iron fisted controls to manage the program


1. Assign yourself a quota

2. If you fail to meet your quota ... put yourself on probation

3. If results don't improve ... require yourself to write progress reports everyday

4. If results still do not improve ... have a meeting with yourself to discuss how to help yourself to meet the quotas (note, this is just to cover your ass with human resources .. the decision has already been made to fire yourself)

5. Run ads on Craigslist offering a position as a trader with unlimited earning potential that provides a proven method to enable success

Dang ... now those guys from Wharton or Sloan are gonna steal this and pass it off as their own...


Disclaimer: This post does not represent the view point of the owners, managers, or moderators of this web site and is not intended as a slam against any moderator, board member, any banned former members whose name we dare not say, any other living person, any recently living person or any person or persons whose status we are not sure of and especially not for any platform vendor with a questionable product and a pit bull lawyer. This post is meant purely for entertainment and should not be confused with a real thought. Nor should I be held responsible for feeble attempts at humor at your expense.


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
 
  #19 (permalink)
Elite Member
Kent, England
 
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: Infinity
Favorite Futures: Oil
 
Mickey Caine's Avatar
 
Posts: 196 since Jul 2009
Thanks: 1,607 given, 347 received

Is it delussional or a pipe dream to aim to take on average 16 ticks a day out of oil? Based on a $10k account and trading one contract that equates to 8% per week I believe.

There appears to me to be quite a few traders on this forum who may well be getting in excess of that (tick wise). If you compund your profits it would of course become more difficult, however I believe the OP did say he was looking to withdraw his gains on a regular basis. I would think that was an achivable goal for an experienced trader. But I have been wrong before.

Anyway, good luck Mr Sailingman, I hope you trade in calm waters and with a favourable wind.

Reply With Quote
The following 2 users say Thank You to Mickey Caine for this post:
 
  #20 (permalink)
Creating time to sail...
ravensdale wa/USA
 
Futures Experience: Advanced
Platform: Tadestation
Broker/Data: Trade Station
Favorite Futures: Ag Futures, GBP, Crude
 
sailingman's Avatar
 
Posts: 19 since Jan 2012
Thanks: 2 given, 16 received

Monday


Thanks for all your kind words! I love crude but the risk-reward is better for smaller accounts in the grains.

Wheat looks like it will have a good day today. I will post my trade (s) later.

Reply With Quote
The following user says Thank You to sailingman for this post:

Reply



futures io > > > 8% per week

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
Quote Of The Week Quick Summary News and Current Events 4 January 22nd, 2012 12:34 PM
Turkey Week Quick Summary News and Current Events 0 November 27th, 2011 06:00 PM
VIX next week Ghostland Stocks and ETFs Trading 0 January 15th, 2011 01:21 PM
first day of the week/month - requesting last day of the week/month SARdynamite NinjaTrader Programming 3 July 15th, 2010 07:25 AM
How did you do in the markets this week? websouth Off-Topic 0 March 6th, 2010 08:07 PM


All times are GMT -4. The time now is 11:18 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 0.17 seconds with 20 queries on phoenix via your IP 54.226.34.209