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Absolutely! I find people are good about over reporting their gains and under reporting their losses myself. He mentioned some numbers in the multiple tens of t
by SavageBeast 6y ago
Absolutely! I find people are good about over reporting their gains and under reporting their losses myself. He mentioned some numbers in the multiple tens of thousands for the month (for whatever it was worth). If thats true he's easily making more than my software dev salary if he's able to do it regularly. But why would such a thing be so hard? These markets are volatile and it's there if you know how to take it.
It's a hard game to make it in long term. Ive always told people "Making money on winning trades is almost hilariously easy - its holding on to it thats the hard part".
1 - Generate signals that end up working out 50% of the time.
2 - Structure the game such that your winners are 3-7x your losers (depending on conditions here).
3 - Automate daily back testing on real bid/ask prices and arrive at a moving average of your stop/exit thresholds - allow your thresholds to flex a bit with market conditions.
4 - Keep at least 1.5x margin requirements as reserves and never bend from this no matter how many contracts you might trade if you leveraged your entire account.
5 - I find it immensely helpful to only evaluate how many contracts to trade 1x/month. Longer is fine but whatever you do, don't take a windfall profit and immediately pile on more contracts for the next trade.
Give me ^ES and ^NQ any day of the week personally.