8% per week - futures io
futures io futures trading



8% per week


Discussion in Trading Journals

Updated by Big Mike
      Top Posters
    1. looks_one sailingman with 10 posts (15 thanks)
    2. looks_two Big Mike with 4 posts (4 thanks)
    3. looks_3 ThatManFromTexas with 3 posts (15 thanks)
    4. looks_4 researcher247 with 2 posts (2 thanks)
      Best Posters
    1. looks_one ThatManFromTexas with 5.0 thanks per post
    2. looks_two Lornz with 4.5 thanks per post
    3. looks_3 josh with 2.5 thanks per post
    4. looks_4 sailingman with 1.5 thanks per post
    1. trending_up 4,790 views
    2. thumb_up 53 thanks given
    3. group 14 followers
    1. forum 29 replies
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

8% per week

(login for full post details)
  #11 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
josh's Avatar
 
Posts: 5,466 since Jan 2011
Thanks: 6,054 given, 14,469 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:

Can you help answer these questions
from other members on futures io?
Double Smoothed Stochastics Sound & Chart Allerts
The Elite Circle
Convert H Data TS to NT
NinjaTrader
Historical option expirations
Brokers
converting useful Pine Script into Multicharts code
EasyLanguage Programming
Market Replay and Fills (Denali data)
Sierra Chart
 
 
(login for full post details)
  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,143 since Jun 2009
Thanks: 31,812 given, 95,779 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

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #13 (permalink)
Oslo, Norway
 
Experience: Advanced
Platform: CQG, Excel
Trading: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010


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.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #14 (permalink)
near Paris, France
 
Experience: Beginner
Platform: -
Trading: -
 
Nicolas11's Avatar
 
Posts: 1,071 since Aug 2011
Thanks: 2,232 given, 1,749 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

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #15 (permalink)
Oslo, Norway
 
Experience: Advanced
Platform: CQG, Excel
Trading: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010


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.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #16 (permalink)
los angeles
 
Experience: Intermediate
Platform: nt
Trading: cl
 
Sunil P's Avatar
 
Posts: 292 since Jan 2012

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!

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #17 (permalink)
Bala, PA, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus, IB
Trading: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,336 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.

Reply With Quote
 
(login for full post details)
  #18 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,206 given, 4,331 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
 
(login for full post details)
  #19 (permalink)
Kent, England
 
Experience: Intermediate
Platform: Sierra
Broker: Infinity
Trading: Oil
 
Mickey Caine's Avatar
 
Posts: 196 since Jul 2009
Thanks: 1,605 given, 348 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.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Mickey Caine for this post:
 
(login for full post details)
  #20 (permalink)
ravensdale wa/USA
 
Experience: Advanced
Platform: Tadestation
Broker: Trade Station
Trading: Ag Futures, GBP, Crude
 
sailingman's Avatar
 
Posts: 19 since Jan 2012
Thanks: 2 given, 16 received


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.

Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to sailingman for this post:


futures io Trading Community Trading Journals > 8% per week


June 10, 2012


Upcoming Webinars and Events
 

Bookmap

Nov TBD
     



Copyright © 2020 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