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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: OpusX who wrote (43219)	1/9/2001 5:28:38 PM
From: SE	Read Replies (1) \| Respond to of 44573

OpusX, I have considered your question many times and I have converted it to an excel spreadsheet. Since I don't like to position trade, but am a bit more apt to hold than Nemer, my goal is very very simple. All I want to get is a net 2 points per contract per day. By that I mean that if I am trading one lots, I want +2.00 after all fees at the end of the day. I could trade four times, all one lots and my goal is +2.00 at the end of the day. If you can do that, consistently, and if you use $7,500 per contract margin, up to 10 eminis, once you hit an account balance of $75,000 and you can trade 10 eminis. If you consistently get +2.00 per contract that is 20 net points a day or $1000 per day. That would be an income of over $200,000 per year. So, I base my daily goals off my annual goals. If you can get +4.00 points per day, that is over $400,000 per year. So....set your income level, set your number of contracts you would feel comfortable with and then back into what you have to get per day to meet those goals. If you can do +10.00 per day, but only need $250,000 per year, you can do that trading 1 to 2 lots of eminis. Good Luck. Scott PS - I have been told my goal is much to low...but since I believe that the most important thing for a trader is their emotional state, I would prefer to set the bar low and beat the pants off it, than set it too high and take the emotional hit of not reaching the goals. In time I suspect the goals will be less important and the act of trading correctly more important and fun.