No Mike, I meant per day.
I play the mini S&P & for every full point it moves you make $50 per contract. As an example today it moved a total of 26 points from open to close. Obviously you wouldn't have played that whole range but if you could you would have made $1,300. I didn't play today but had I played and still been in at 2:00PM (I'm usually out before noon) I would have made $600. During that time frame it dropped from 1168 (I would have gotten in at 1166) & fell to 1153 (I would have been out at 1154 when the trend changed). At that time it went back up to 1158 & then fell to 1153 at the close. It closed at 1150.75 at 5:00PM EST. During the time I would have been in was a 12 point change, or $600. Those numbers are all per contract which is all I can play in a $5000 account. Frankly I'm not gutsy enough to have stayed in for the whole 12 points, in reality I probably would have been out by 1:20 or so at 1158 & been more than happy with $400 for the day. Keep in mind althoough the above numbers are actual numbers from today I usually play from the open until 11AM or noon and am usually looking for smaller moves. Depending on how many times I lose I may do 5-7 plays a day making anywhere from $50 to $150 a play. When I hit that $250 point I usually quit, unless I hit it very quickly & have nothing else to do then I may stay in a play a while longer.
As for $1,000 a day, all it takes is the extra money on deposit and the guts to play 4 contracts at a time. When I played through MF Global I played the mini russell which works exactly the same way except it pays $100 per point per contract. I opened my account with $10K which will play 1 contract in the russell. My first day I made $2005 net of commission. My best day with them was $3,875.90 & over the months I played there I had numerous $2K days. For a long time we ran almost 60% win ratios & we averaged, overall, around $700 per day. We played a total of 148 days, did 346 trades and averaged about $200 per day after all expenses including losses.
To: OptionClub@yahoogro
ups.comFrom: mikeandjody1996@
yahoo.comDate: Tue, 11 May 2010 07:22:27 -0700
Subject: Re: [TheOptionClub. com] profiting from "tradegies"
I'm not understanding; you said you could make $250.00 to $1000.00 per day on a consistent basis. Then you were asked what amount of capital is needed to make this daily increase. And you say $5,000.00? I'm sure you mean $250.00 to $1000.00 per MONTH not per day. Correct?
From: john sheldon <johnlsheldon@ msn.com>
To: optionclub@yahoogro ups.com
Sent: Mon, May 10, 2010 11:26:03 PM
Subject: RE: [TheOptionClub. com] profiting from "tradegies"
I started & am currently playing in a $5K account with TradeStation & play a single contract. I usually play about 2 hours a day but occasionally will go three. The way I was taught was to increase too 2 contracts at around $10K, 3 contracts at $15 & so forth. If you can consistently make $250 a day on 1 contract you should be able to do $500 on two contracts, $750 on three & so forth. I'm sure you can do it with less, it really depends on what your broker requires to open & maintain an account. Tradestation requires $5K. At the time I started Tradestation was the only place you could use NexGen T3 software.
John S
To: OptionClub@yahoogro
ups.comFrom: gishfarm@yahoo. com
Date: Mon, 10 May 2010 13:52:39 -0700
Subject: Re: [TheOptionClub. com] profiting from "tradegies"
In your experience, how much capitol is needed to make $250 - $1000 daily consistently?
..." I firmly believe that it is possible to easily make at least $250 a day & potentially $1,000 a day in a matter of just a few hours and do it pretty consistently. " ... |
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