is 40-50 ticks per day doable - futures io
futures io futures trading



is 40-50 ticks per day doable


Discussion in Trading Reviews and Vendors

Updated by Snoop
      Top Posters
    1. looks_one anniebee321 with 8 posts (0 thanks)
    2. looks_two tigertrader with 3 posts (9 thanks)
    3. looks_3 Zoethecus with 2 posts (0 thanks)
    4. looks_4 Snoop with 2 posts (2 thanks)
      Best Posters
    1. looks_one Bilderberger with 6.0 thanks per post
    2. looks_two bluemele with 4.0 thanks per post
    3. looks_3 tigertrader with 3.0 thanks per post
    4. looks_4 Snoop with 1.0 thanks per post
    1. trending_up 9,023 views
    2. thumb_up 30 thanks given
    3. group 9 followers
    1. forum 34 replies
    2. attach_file 2 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
 

is 40-50 ticks per day doable

(login for full post details)
  #21 (permalink)
Canada, Top of the World
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
 
Posts: 7 since Oct 2010
Thanks: 1 given, 3 received

I'm really skeptical of anyone who says they can get consistent ticks, even 1-4 ticks /day. If *anyone* could get any consistent ticks, using ES you could just raise your contract size to where you'd be a millionaire in a year or two. If you have even 20 consistent ticks, you would be a quiet millionaire trading from exotic beach via satellite.

Sorry for raining on your guys' parade. I could be wrong, though.. and now wouldn't that be sweet.

Reply With Quote

 
Best Threads (Most Thanked)
in the last 7 days on futures io
Is anyone actually making money?
189 thanks
Micro account vs Funded account (combine)
53 thanks
Are sharks watching on the other side?
32 thanks
Market profile entries/exits
25 thanks
Spoo-nalysis ES e-mini futures S&P 500
22 thanks
 
(login for full post details)
  #22 (permalink)
Legendary Market Wizard
Philly, Pa
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
 
tigertrader's Avatar
 
Posts: 6,255 since Jul 2010
Thanks: 6,573 given, 34,882 received

2 things you should not concern yourself with, when you are first learning how to trade: 1) how much money you are making, and 2) how long it's going to take until you are making money.

Your singular focus should be learning how to trade correctly. If you rush the learning process, and pick up bad habits in the process, you will only have to un-learn them in the future. Making money will take care of itself, when you you trade well.


When I first left the floor, I traded prop for a year at Schoenfeld, and they did not have any minimum P&L threshold requirements for any of their traders. Legitimate prop houses are more concerned with how a trader controls his risk, than how much money he is making. This is a sentiment that should also be your overriding concern.



Follow me on Twitter Reply With Quote
The following 6 users say Thank You to tigertrader for this post:
 
(login for full post details)
  #23 (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


Did not just want to say thanks for that post. Excellent.... so true

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Mickey Caine for this post:
 
(login for full post details)
  #24 (permalink)
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009

I never understood why anyone would join a prop firm for futures unless they didn't have to put up any capital to trade. Paying for prop firm education doesn't make sense to me either, since the firm benefits from teaching the trader to make money. Education should be a cost of doing business for the prop shop in a profit sharing arrangement.

Finally, a trader can get the same margin on futures as a prop shop without giving away a cut of profits. Equities prop shops, on the other hand, offer margin a trader otherwise couldn't get.

Reply With Quote
 
(login for full post details)
  #25 (permalink)
Toronto, Ontario
 
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: IB, IQfeed
Trading: ES, CL
 
Snoop's Avatar
 
Posts: 203 since Oct 2009
Thanks: 135 given, 163 received

A good prop firm doesn't require you to put up any capital. That's the attraction for most.
If you don't have alot of capital, and you can get into a shop that isn't going to nickel and dime you, it's a decent path.

Reply With Quote
 
(login for full post details)
  #26 (permalink)
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009


Snoop View Post
A good prop firm doesn't require you to put up any capital. That's the attraction for most.
If you don't have alot of capital, and you can get into a shop that isn't going to nickel and dime you, it's a decent path.

And a good prop firm isn't going to take any Tom, Dick, or Harry. They are extremely selective.

Reply With Quote
 
(login for full post details)
  #27 (permalink)
Dana Point
 
 
Posts: 35 since Nov 2009
Thanks: 11 given, 17 received


Snoop View Post
A good prop firm doesn't require you to put up any capital. That's the attraction for most.
If you don't have alot of capital, and you can get into a shop that isn't going to nickel and dime you, it's a decent path.


EVERY prop firm will require you to deposit funds upfront to cover potential loses... unless you are a proven trader with an excellent track record. And if that's the case they'll take a hefty percentage of your profits.

.

Reply With Quote
 
(login for full post details)
  #28 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,833 received


tigertrader View Post
2 things you should not concern yourself with, when you are first learning how to trade: 1) how much money you are making, and 2) how long it's going to take until you are making money.

Your singular focus should be learning how to trade correctly. If you rush the learning process, and pick up bad habits in the process, you will only have to un-learn them in the future. Making money will take care of itself, when you you trade well.


When I first left the floor, I traded prop for a year at Schoenfeld, and they did not have any minimum P&L threshold requirements for any of their traders. Legitimate prop houses are more concerned with how a trader controls his risk, than how much money he is making. This is a sentiment that should also be your overriding concern.



Wow, spoken like a true trader.

I couldn't agree more. I traded somewhat successfully under fundamentals, then got frustrated due to a bad patch and jumped to the 'dark side' of TECHNICAL trading. It was a steep learning curve at first, and the two questions I kept asking were the two above!

The only thing that answering those questions does is deflate you to a point where you want to quit and also helps you lose money.

I remove all instances of 'money' from my charts, my dom etc. I don't speak in dollars either as it is too much pressure. I used to make 2K a day in my normal business (before recession) and now for some reason it is a big deal of making $20.00 per day trading!

The key understanding for me was the 'being right'. Our EGO's are fragile (well, most of us) and the thought of being wrong more times than right just destroys us mentally.

In my opinion, one must remove the EGO so being right isn't an issue. Once you have done that, then trading for money or training time isn't as much of an issue. You must only compare your success against your own and that will keep you somewhat motivated!

The best attitude is to go in with full disclosure to your EGO, "I am going to pay money to do this, this is going to take me a while to learn and be competent in" and then ask yourself is that OK. It is a lot like building your dream home. You will have a budget and an estimated completion date, but it will always cost more and take longer to complete then you ever imagined and so goes life.

It is amazing the psychology involved.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to bluemele for this post:
 
(login for full post details)
  #29 (permalink)
Legendary Market Wizard
Philly, Pa
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
 
tigertrader's Avatar
 
Posts: 6,255 since Jul 2010
Thanks: 6,573 given, 34,882 received

Here's the deal if you are an experienced trader, and you are considering a "partnership" with a prop firm. You will have access to the kind of buying power you never would have had when you traded independently. However, the trade-off is your payout is going to be 30-35% of your net P&L, depending on the firm and depending on if you are trading equities or futures.

So, you must be able to scale your trading to the point, where you are making substantially more money than you were making, when you were trading independently, just to earn what you were earning when you were trading independently. And you are going to have to trade from their offices; they will not allocate capital to you, and allow you to trade remote.

If you are a beginner or an inexperienced trader, it might be difficult to find a prop firm in this ( HFT dominated) environment, that will "hire" you, and teach you how to trade their money. Schoenfeld recently terminated about 1/3 of their traders, due to their inability to make money in these markets. The exception is if you have quant skills, then you will be in demand.

One caveat: If a firm requires any kind of deposit, the odds are they are not a prop house, but a commission house, that is more interested in churning your commissions or engaging in liquidity rebate trading.

Follow me on Twitter Reply With Quote
The following 2 users say Thank You to tigertrader for this post:
 
(login for full post details)
  #30 (permalink)
london
 
Experience: Beginner
Platform: ninja
Trading: fgbl
 
Posts: 152 since Nov 2009
Thanks: 64 given, 44 received


what does HFT dominated mean??

Reply With Quote


futures io Trading Community Trading Reviews and Vendors > is 40-50 ticks per day doable


October 27, 2010


Upcoming Webinars and Events
 

Every journal equals ten meals for the hungry

Now
     



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